Mr. Haydn Daxter reports

POWER METALS SIGNS MOU WITH MARKET LEADER OF CESIUM CHEMICALS IN NORTH AMERICA

Power Metals Corp. has signed a non-binding memorandum of understanding with United States-based APL Engineered Materials Inc.

APL is a privately owned company based in Illinois, United States, with decades of experience in cesium processing and chemical production. Amid limited global supplies of high-grade cesium concentrate, APL has established itself as a market leader in recycling medical-grade cesium iodide.

A key focus for both companies will be to develop a fully integrated North American cesium supply chain for chemical products as global supply continues to decline. The current market for chemicals to support established industries across oil and gas, medical imagery, and electronics continues to grow along with the rapid rise in aerospace and defence.

Haydn Daxter, chief executive officer of Power Metals, said: "The corporate strategy that Power Metals continues to implement is to maintain our position as a clear market leader in cesium, with our Case Lake project set to commence production in the near term. Working with APL Engineered Materials Inc. brings another level of technical expertise into a direct market while providing both parties a clear avenue to potential supply chains across the United States."

Dr. Gautam Gunidah, president of APL, stated: "We are excited to be working with Power Metals to develop clear synergies on critical mineral production for a U.S. market. Ensuring industries across North America continue to have secure supply of cesium is crucial to so many applications. The resource that Power Metals has discovered at Case Lake is impressive, and its location makes it more beneficial. We look forward to making this collaboration successful in future."

Scientific and technical disclosure

The scientific and technical disclosure included in this news release has been reviewed and approved by Dr. Geoff Heggie, PhD, PGeo, vice-president of exploration for Power Metals, a qualified person under National Instrument 43-101 (Standards of Disclosure of Mineral Projects), a member in good standing with Association of Professional Geoscientists of Ontario (2571).

About Power Metals Corp.

Power Metals is a Canadian critical mineral company advancing high-quality exploration and development assets. Its flagship project is the 100-per-cent-owned Case Lake property in Ontario, an advanced-exploration-stage, high-grade cesium asset with additional exposure to lithium and tantalum.

Located around 80 kilometres east of the established town of Cochrane that has a long history of mining near the Ontario-Quebec border, Case Lake is a district-scale project comprising 586 cell claims across six townships and a 10-kilometre-long LCT pegmatite trend spanning 14 granitic domes. This includes six spodumene dikes on the Henry Dome and the West Joe dike, one of the highest-grade cesium systems discovered globally, with pollucite lenses returning grades up to 26 per cent and remaining open at depth.

Power Metals has completed 23,976 metres of drilling between 2017 and 2025, and identified 17 new targets and early indicators of additional mineralized lenses, supporting strong growth potential beyond the initial resource.

We seek Safe Harbor.