Powermax Minerals talks Atikokan assay interpretation

Executive Summary

• Powermax Minerals Inc. released integrated geochemical and geophysical results from its Atikokan rare earth element (REE) property in Northwestern Ontario, identifying priority exploration targets within the Dashwa gneiss complex.
• The study analyzed 426 samples (rock, soil, and sediment) combined with airborne magnetic and radiometric surveys, revealing structurally controlled REE mineralization associated with thorium and uranium enrichment.
• The company has defined a conceptual exploration model focusing on monazite and allanite within gneissic foliation zones and shear corridors, with plans for focused follow-up exploration to unlock the project's potential.

Key Details

• Rock Sampling (117 samples):
  • TREO (total rare earth oxide) values ranged from 19.1 to 503.3 ppm.
  • Multiple samples exceeded 200 ppm TREO.
  • Elevated REE values were primarily associated with gneissic units (Blocks B and C).
• Soil Sampling (228 samples):
  • TREO values ranged from 28.4 to 615.8 ppm.
  • Strong REE anomalies identified across north-south soil grids.
  • High values were spatially associated with structural corridors and lithological contacts.
• Sediment Sampling (10 samples):
  • TREO values ranged from 37.1 to 377.2 ppm.
  • Results indicate mechanical dispersion of REE-bearing minerals downstream, supporting the presence of proximal REE source rocks.
• Geophysical Surveys:
  • Conducted in October 2025 by Geo Data Solutions Inc. (GDS).
  • Airborne magnetic and radiometric surveys flown at 50-metre line spacing with 25-metre gridded outputs and an average ground clearance of 44 metres.
• Mineralization Environment:
  • Dashwa gneiss complex (Blocks B and C): Identified as priority targets. REE enrichment is associated with thorium-bearing accessory minerals (monazite and allanite), strongly correlated with thorium/uranium ratios, and controlled by regional structural corridors and shear zones. The system is interpreted as metamorphic or metasomatic LREE.
  • White Otter batholith (Block A): Lower priority due to TREO values (22–487 ppm) typical of background granitic rocks and weak correlations between REE and radiometric indicators. Localized targets remain at fault intersections and pegmatitic zones.
• Sampling and Analysis:
  • Total of 426 samples collected, including QA/QC samples.
  • Samples submitted to Agat Laboratories Ltd. (Thunder Bay preparation, Calgary analysis).
  • Analysis performed using the 201-380 metals package; REEs analyzed via sodium peroxide fusion followed by ICP-OES/MS analysis.
  • QA/QC procedures included field duplicates, blanks, and standards.
• Qualified Person: Afzaal Pirzada, PGeo, Director of the company, reviewed and approved the technical information under National Instrument 43-101.

Notable Quotes

• "These results significantly advance our understanding of the Atikokan property and clearly define a path forward for exploration. The identification of structurally controlled REE targets within the Dashwa gneiss complex is particularly encouraging as it points to a coherent mineralization system rather than isolated occurrences." — Paul Gorman, CEO
• "The strong association of rare earth elements with thorium and uranium geochemistry provides us with reliable vectors to prioritize targets, and we are confident that focused follow-up exploration work will allow us to unlock the full potential of this project." — Paul Gorman, CEO