Power Metallic reports New Lion drill intercepts of 13.30 Meters of 3.98% CuEqRec Superscript 1 in Hole 26-115 and 5.26 Meters of 8.45% CuEqRec Superscript 1 in Hole 26-105 at Lion

Executive Summary

• Power Metallic Mines Inc. released additional assay results from its Winter 2026 infill drill program at the Lion project, highlighting high-grade copper-palladium intercepts near surface and at depth.
• Key intersections include 13.30m @ 3.98% CuEqRec in Hole PML-26-115 and 5.26m @ 8.45% CuEqRec in Hole PML-26-105, directly supporting the upcoming NI-43-101 Mineral Resource Estimate.
• The MRE for the Lion and Nisk deposits is scheduled for completion and reporting by the end of July 2026, immediately preceding the commencement of a Preliminary Economic Assessment (PEA).

Key Details

• Hole PML-26-115: 13.30m @ 3.98% CuEqRec starting at 25m below surface; includes a higher-grade interval of 3.77m @ 9.36% CuEqRec.
• Hole PML-26-105: 5.26m @ 8.45% CuEqRec starting at approximately 140m below surface.
• Additional Assay Data (Table 1):
• PML-26-063: 6.52m @ 0.41% CuEqRec
• PML-26-106: 7.00m @ 2.84% CuEqRec, including a high-grade interval of 2.00m @ 8.87% CuEqRec
• PML-26-114: Multiple intervals totaling ~11.56m with CuEqRec ranging from 0.77% to 2.43%
• Western Edge Drilling: Holes delimiting the western side of the Lion Zone returned low-grade assays (up to 0.57% Cu and 1.22 g/t Pd) but provide critical structural context for vectoring toward higher-grade zones.
• MRE & PEA Timeline: The infill program is preparing data for the initial NI-43-101 Mineral Resource Estimate on Lion, with completion and reporting scheduled for the end of July 2026. A Preliminary Economic Assessment (PEA) will commence immediately following MRE completion.
• CuEqRec Calculation Parameters: Based on metal prices of $2,360.15/oz Au, $27.98/oz Ag, $1,215.00/oz Pd, $1,000.00/oz Pt, $4.00/lb Cu, $10.00/lb Ni, and $22.50/lb Co, utilizing recovered grades from SGS Canada Inc. locked-cycle metallurgical tests.
• True Width Estimation: Reported lengths represent downhole distance; true width is projected at 85% of the downhole length.
• QAQC & Laboratory: Drilling and core logging conducted by GeoVector Management Inc. Samples analyzed at Activation Laboratories Ltd (Actlabs) using standard ICP-OES and 4-Acid digestion methods; QAQC review confirmed no material errors.