Power Metallic Returns High-Grade Copper-Equivalent Results From Latest Lion Zone Drill Programme – Article

• Hole PML-25-046 intersected 20.40 metres at 4.11% CuEqRec, including a higher-grade core of 8.40 metres at 8.05% CuEqRec, with palladium at 10.13 g/t and platinum at 2.90 g/t as notable contributors to overall grade.
• Hole PML-25-045 returned 8.60 metres at 6.34% CuEqRec, including 5.10 metres at 9.86% CuEqRec, with gold at 3.18 g/t and silver at 48.69 g/t within the higher-grade core.
• Infill drilling is building the geological confidence required to classify the Lion Zone to an Indicated Resource, a step necessary before a formal mineral resource estimate can be completed.
• A separate intersection in hole PML-25-036, roughly 150 metres west of the main Lion Zone, indicates an additional lens of polymetallic mineralisation that management has flagged for follow-up drilling.
• The company is expecting to receive the balance of fall drill results by the end of February 2026, with updates to follow on Lion West, Tiger Deep, the Elephant target, and the newly acquired Li-FT ground.

Power Metallic Mines Inc. (TSXV: PNPN; OTCBB: PNPNF; Frankfurt: IVV1) is a Toronto-based Canadian exploration company focused on advancing the Nisk Project Area, a high-grade copper, palladium-group element, nickel, gold, and silver system, toward Canada’s next polymetallic mine. Following the June 2025 acquisition of approximately 167 km2 of adjoining claims from Li-FT Power, the company controls roughly 212.86 km2 of ground, including approximately 50 km of prospective basin margins. It also holds an indirect interest in properties in British Columbia and Chile through a 50% ownership position in Chilean Metals Inc., and it owns the Jabul Baudan exploration licence in Saudi Arabia’s Jabal Said Belt.

High-Grade Polymetallic Drill Results at Lion Zone

The latest assay results from the Lion Zone add to the body of evidence supporting the deposit’s multi-metal character. Hole PML-25-046 is a case in point: early core observations suggested a moderate copper interval based on visible mineralisation, yet assay results showed the 20.40-metre interval carried palladium at 5.01 g/t, platinum at 1.29 g/t, and gold at 0.68 g/t, contributing to an overall copper-equivalent grade of 4.11% CuEqRec. The higher-grade core within that interval returned 8.40 metres at 8.05% CuEqRec, with palladium at 10.13 g/t and platinum at 2.90 g/t. The company noted that this hole was expected to be relatively low-grade based on initial observations, and it is now developing logging procedures to better identify higher-grade precious metal zones within the deposit.

Hole PML-25-045 returned 8.60 metres at 6.34% CuEqRec, including a 5.10-metre higher-grade core at 9.86% CuEqRec, driven primarily by gold at 3.18 g/t and silver at 48.69 g/t alongside copper at 5.38%. An additional interval in the same hole returned 9.40 metres at 3.26% CuEqRec, including 4.05 metres at 7.01% CuEqRec, with copper at 4.45% and gold at 0.47 g/t. The CuEqRec values across all reported holes are calculated using metal prices and recovery rates established through recent locked-cycle metallurgical testing by SGS Canada Inc., meaning the grades reflect estimated recoverable metal, not simply what is present in the core.

CEO Terry Lynch commented:

“We have made a lot of progress on the Lion Zone. The continuity and growth of the higher-grade core of Lion Zone with in-fill drill holes, coupled with our amazing metal recovery numbers that we reported a couple of weeks ago, puts us in great shape to ramp up exploration this year.”

Extension hole PML-25-034a, drilled on the west side of the Lion Zone, returned 7.66 metres at 2.69% CuEqRec, including 3.00 metres at 4.96% CuEqRec, with palladium and platinum again contributing meaningfully to the overall grade.

Infill and Extension Drilling to Define Deposit Geometry for Future Mineral Resource Estimate

The current drilling programme at Lion serves two purposes: infill drilling within the known deposit boundary to tighten the geological model, and extension drilling down the plunge of the mineralised body to test its continuity. The infill component is specifically designed to increase geological confidence to a level that supports an Indicated Resource classification, which is a higher confidence tier than an Inferred Resource and a requirement before the company can complete a formal mineral resource estimate (MRE).

Hole PML-25-039, a further extension hole, returned 11.04 metres at 1.18% CuEqRec, including 1.66 metres at 6.11% CuEqRec with gold at 0.75 g/t, palladium at 7.60 g/t, and platinum at 1.82 g/t within the higher-grade core. The company noted that the holes in this release have largely confirmed the grade of the Lion Zone and increased the interpreted size of the higher-grade lodes within the deposit.

Hole PML-25-036, drilled approximately 150 metres west of the main Lion body, returned 7.20 metres at 0.95% CuEqRec, including 2.40 metres at 2.36% CuEqRec. The company described this intersection as indicative of a separate lens of polymetallic mineralisation west of Lion and stated it will be followed up by future drilling to expand the zone. All reported lengths are downhole distances, with true widths estimated at approximately 85% of downhole length based on model projections.

Ongoing Exploration Programme Across Multiple Targets Including Lion West and Tiger Deep

Beyond the Lion Zone, Power Metallic is conducting exploration across several targets within the broader Nisk Project Area. The company expects to provide a detailed update on Lion West, Tiger Deep, the Elephant target, the Hydro Lands, and initial exploration on the Li-FT acquisition ground once the remaining fall drill results are received, which it anticipates by the end of February 2026. Borehole electromagnetic surveys conducted during recent drilling have identified off-hole anomalies that the company believes point to additional conductors within the Tiger Deep target area.

The Li-FT ground acquisition, completed in June 2025, added approximately 167 km2 to the company’s land position and extended the prospective basin margin under exploration. Initial exploration on this ground is underway. The company has also recognised high-grade east-plunging mineralisation structures extending from the main Lion Zone and has flagged this as an additional area for follow-up as part of the Lion Zone East expansion drilling.

Exploration across the enlarged land package is being carried out through successive drill programmes. The company’s current focus remains on advancing the Lion Zone toward a mineral resource estimate while simultaneously testing the broader property for additional mineralised zones.

Conclusion

Power Metallic’s fourth and latest release from its summer-fall 2025 drill programme continues to define the geometry and grade profile of the Lion Zone through a combination of infill and extension drilling. With the remaining fall assay results expected by the end of February 2026, the company has indicated that a comprehensive exploration update covering all active targets, including Lion West, Tiger Deep, the Elephant play, and the Li-FT ground, will follow. Completing the infill drilling programme to a sufficient confidence level for an Indicated Resource classification remains the key near-term milestone required before a formal mineral resource estimate can be undertaken.

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