Mr. Paul Gorman reports

POWERMAX MINERALS COMMENCES PHASE 2 EXPLORATION PROGRAM AT THE CAMERON RARE EARTH ELEMENT (REE) PROJECT, BRITISH COLUMBIA

Powermax Minerals Inc. has commenced its phase 2 exploration program at the Cameron rare-earth element (REE) project, located in the Kamloops mining division, British Columbia.

Building on encouraging phase 1 results

The phase 2 program follows the results of phase 1 exploration, which confirmed the presence of light and heavy rare-earth element (REE) mineralization across the property. Highlights from phase 1 included (see Aug. 8, 2025, news release):

• Total REE (TREE) values range from 17 ppm (parts per million) to 1,943 ppm;
• Heavy mineral concentrates samples returned TREE values ranging from 365 ppm to 7,561 ppm;
• REE enrichment is noted across the property, with LREEs generally more abundant than HREEs;
• Consistent enrichment of both light (LREE) and heavy (HREE) rare-earth elements across multiple lithological units.

These results support the presence of REE-bearing minerals such as monazite, allanite and xenotime within pegmatitic and gneissic lithologies of the Monashee Group.

Phase 2 program objectives

1. Geological mapping and systematic rock sampling across new and previously identified mineralized zones;
2. Additional stream sediment and soil geochemical surveys targeting untested drainages and low outcrop areas;
3. Integration of geological, geochemical and geophysical data sets in a GIS platform to refine and prioritize drill targets.

Fieldwork schedule

The phase 2 fieldwork has commenced and is expected to take approximately two to three weeks to complete, depending on weather conditions.

CEO's comment

Paul Gorman, chief executive officer of Powermax Minerals, commented: "Our team is very encouraged by the early success at Cameron, which continues to demonstrate strong potential for both light and heavy rare-earth mineralization in a favourable geological environment. The phase 2 program represents another important step in systematically advancing the project that could add significant value for our shareholders."

About the Cameron REE project

The Cameron REE project covers approximately 2,984 hectares (three mineral claims) in the Kamloops mining division. The property lies within the Monashee Group, a high-grade metamorphic and granitic terrane known to host REE-bearing minerals. Mineralization at Cameron is associated with pegmatites, shear zones and altered gneisses enriched in both light and heavy REEs.

Qualified person

The technical information contained in this news release has been reviewed and approved by Afzaal Pirzada, PGeo, who is a director of the company and a qualified person under National Instrument 43-101 -- Standards of Disclosure for Mineral Projects.

About Powermax Minerals Inc.

Powermax Minerals is a Canadian mineral exploration company focused on advancing rare-earth element projects. The company holds an option to acquire the Cameron REE property, comprising three mineral claims totalling approximately 2,984 hectares in British Columbia. Powermax also optioned to acquire the Atikokan REE property, consisting of 455 unpatented mining claims in Northwestern Ontario. Powermax also owns a 100-per-cent interest in the Ogden Bear Lodge project, in Crook county, Wyoming.

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