Power Metallic Mines Inc. (TSXV: PNPN) (OTCBB: PNPNF) provided additional assays from its winter 2026 drill program.
Lion Zone MRE In-fill program
Additional drill holes continued to add and refine the high-grade Lion Zone ahead of the 2026 Mineral Resource Estimate (MRE). The infill drill holes in this release cover approximately 560 m down plunge extent from the core of the Lion Zone (PML-26-095) to central southwestern Lion area (PML-26-069) (Figure 1).
Figure 1 – Lion Zone MRE Drill holes reported in this news release
CNW Group/Power Metallic Mines Inc.
These holes highlight both the robust near surface mineralization as well as returning the deepest high-grade intercept at Lion. These holes will be incorporated into future mineral resource estimates and highlight the potential for open pit development.
Continued evolution and support of the modelled interpretation of the Lion Zone is evidenced by PML-26-095 which intersected the interpreted core of the Lion Zone with wide intersections of high-grade copper near surface with 22.00 m @ 11.46% CuEqRec1 including 6.50 m @ 18.59% CuEqRec1 and including 4.00 m @18.62% CuEqRec1 (Table 1).
Hole PML-26-069 tested the zone approximately 560 m south-southwest down plunge of PML-26-095 at a vertical depth of 600 m containing a moderate grade of 6.58 m @ 4.00% CuEqRec1 including a high-grade interval of 2.82 m @ 8.26% CuEqRec1.
Table 1: Lion Results – Winter 2026
Note: Reported length is downhole distance; true width based on model projections is estimated as 85% of downhole length
1Copper Equivalent Rec Calculation (CuEqRec1)
CuEqRec represents CuEq calculated based on the following metal prices (USD) : 2,360.15 $/oz Au, 27.98 $/oz Ag, 1,215.00 $/oz Pd, 1000.00 $/oz Pt, 4.00 $/lb Cu, 10.00 $/lb Ni and 22.50 $/lb Co., and recovered grades based on recent locked-cycle metallurgical recoveries by SGS Canada Inc (see press release Jan 21, 2006).
Exploratory Drilling – East of Tiger
Drill holes PML-26-065, and -076, located to the east of Tiger (Figure 2), were designed to test modeled anomalies derived from the 2025 airborne VTEM survey. Both holes hit anomalous mineralization of sub-economic grades including 1 m of 0.19% Cu at 39.5-40.5 m and 1 m of 0.81 g/t Pt at 96.5-97.5m (PML-26-065). PML-25-076 displayed Lion style assemblages of Au-Cu-Ni-Pd-Pt from 207-233.5 m, averaging 0.1% CuEq.
Figure 2 – Location of Drill holes reported in this news release
(CNW Group/Power Metallic Mines Inc.)
Power Metallic is expecting more assay results from the MRE drilling and regional exploration in the weeks to come.
“The Lion Zone continues to deliver high grade intersections that are more than an order of magnitude beyond the grade of the average producing copper mine. Hole PML-26-095 represents our second-best intersection to date. Results demonstrate that both grade and thickness are being maintained and, in places, increasing as we advance toward our inaugural Mineral Resource Estimate in the third quarter of 2026. Lots more to come!” commented Terry Lynch, CEO & Director.
Qualified Person
Joseph Campbell, P. Geo, VP Exploration at Power Metallic, is the qualified person who has reviewed and approved the technical disclosure contained in this news release.
About Power Metallic Mines Inc.
Power Metallic is a Canadian exploration company focused on advancing the Nisk Project Area (Nisk–Lion–Tiger)–a high–grade Copper–PGE, Nickel, gold and silver system–toward Canada’s next polymetallic mine.
On 1 February 2021, Power Metallic (then Chilean Metals) secured an option to earn up to 80% of the Nisk project from Critical Elements Lithium Corp. (TSX–V: CRE). Following the June 2025 purchase of 313 adjoining claims (~167 km²) from Li–FT Power, the Company now controls ~330 km² and roughly 50 km of prospective basin margins.
Power Metallic is expanding mineralization at the Nisk and Lion discovery zones, evaluating the Tiger target, and exploring the enlarged land package through successive drill programs.
Beyond the Nisk Project Area, Power Metallic indirectly has an interest in significant land packages in British Columbia and Chile, by its 50% share ownership position in Chilean Metals Inc., which were spun out from Power Metallic via a plan of arrangement on February 3, 2025.
It also owns 100% of Power Metallic Arabia which owns 100% interest in the Jabul Baudan exploration license in The Kingdon of Saudi Arabia’s Jabal Said Belt. The property encompasses over 200 square kilometres in an area recognized for its high prospectivity for copper gold and zinc mineralization. The region is known for its massive volcanic sulfide (VMS) deposits, including the world-class Jabal Sayid mine and the promising Umm and Damad deposit.
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