Power Metallic Mines Files Amended LIFE Offering Document to include Quebec as an Offering Jurisdiction for previously announced Brokered LIFE Offering for Gross Proceeds of up to C$30 Million

Executive Summary

• Power Metallic Mines Inc. filed an amended offering document to add Quebec as an additional jurisdiction for its previously announced brokered private placement.
• The core offering terms remain unchanged, targeting gross proceeds of up to C$30 million through the sale of up to 24 million common shares at C$1.25 per share.
• The company granted the lead agent an option to oversubscribe by up to 2.4 million additional shares for up to C$3 million in gross proceeds, with a scheduled closing around June 10, 2026.

Key Details

• Amended offering document filed on June 4, 2026, specifically adding Quebec as an offering jurisdiction.
• Offering structure: "Best efforts" brokered private placement led by Red Cloud Securities Inc. acting as lead agent and sole bookrunner for a syndicate of agents.
• Share price: C$1.25 per common share.
• Base offering size: Up to 24,000,000 common shares.
• Gross proceeds: Up to C$30,000,000.
• Option to oversubscribe: Granted to the Agents to sell up to 2,400,000 additional shares at C$1.25/share, exercisable in full or in part up to 48 hours prior to closing, for up to an additional C$3,000,000 in gross proceeds.
• Scheduled closing date: On or around June 10, 2026.
• Securities are unregistered under the U.S. Securities Act of 1933 and may not be offered or sold to U.S. persons or in the United States.
• Previously announced via company news releases on May 28 and May 29, 2026.
• Amended document available under the Company's profile at SEDAR+ and on the Company's website.