Powermax Minerals Announces Commencement of Airborne Geophysical Survey at Atikokan REE Property, Northwestern Ontario

Executive Summary

• Powermax Minerals has commenced a high‑resolution helicopter‑borne magnetic and gamma‑ray spectrometric survey over its Atikokan REE Properties (Blocks A, B, C) in northwestern Ontario.
• The survey will cover ~1,388 line‑kilometres with 100 m line spacing and 500 m tie lines, delivering processed magnetic, radiometric and elemental ratio products for integration into the Phase 1 exploration program.
• Concurrently, the Company granted 200,000 stock options to a consultant (exercise price $0.96) and 1,650,000 RSUs to directors/officers/consultants, subject to shareholder approval.

Key Details

• Survey Contractor: Geo Data Solutions GDS Inc. (IAGSA member).
• Platform & Sensors: AS350 BA+ helicopter equipped with Geometrics G‑822A cesium magnetometer and Radiation Solutions RSX‑5 spectrometer (4 down, 1 up crystals).
• Coverage: Approximately 1,388 line‑km; 100 m traverse lines with 500 m tie lines; NAD83 UTM Zone 15N.
• Deliverables:
• Magnetic products – residual total field (RTP) and first vertical derivative (1VD).
• Radiometric products – K %, eU, eTh, dose‑rate.
• Elemental ratios – U/Th, U/K, Th/K.
• Final technical report plus Geosoft‑format data grids and line database.
• Timeline: Data acquisition to be completed subject to weather; final processed datasets and report to be delivered shortly after field work ends.
• Integration with Phase 1 Exploration (announced earlier in October 2025):
• Desktop GIS modeling of historic geological, geophysical, and geochemical data.
• Prospecting & detailed geological mapping of pegmatite zones.
• Surface geochemical sampling (rock, soil, stream sediment).
• Ground radiometric surveys using handheld scintillometers.
• Purpose: Refine geological structure, map lithological variations, identify radiometric anomalies linked to REE‑bearing systems, and prioritize drill‑ready targets for 2026 fieldwork.
• Property Overview: Atikokan Property comprises three claim blocks (A‑C) covering ~9,290 ha; hosts Archean granodiorite‑granite, tonalite, diorite‑monzodiorite, and gneissic complexes known for pegmatitic REE mineralization.
• Stock Option Grant: 200,000 options to a consultant at $0.96 per share; exercisable for five years; vesting after 4 months + 1 day.
• RSU Grant: 1,650,000 restricted share units to directors, officers and consultants under the Omnibus Plan; subject to shareholder approval at next AGM.
• Qualified Person: Afzaal Pirzada, P.Geo., director of Powermax, reviewed and approved technical information (NI 43‑101).

Notable Quotes

“Launching this airborne program is an important step in advancing our Atikokan REE portfolio,” said Paul Gorman, CEO of Powermax. “High-resolution magnetics and spectrometry are proven tools for vectoring toward REE‑prospective lithologies and structures… we look forward to translating these results into ranked drill‑ready targets.”