Powermax makes first payments for Pinard project

Mr. Paul Gorman reports POWERMAX MINERALS COMPLETES INITIAL MILESTONE PAYMENTS RELATED TO THE OPTION AGREEMENT TO ACQUIRE PINARD RARE EARTHS PROJECT Further to Powermax Minerals Inc.'s news release dated Nov. 3, 2025, regarding its entry into an option agreement pursuant to which it may acquire a 100-per-cent interest in and to the Pinard rare-earths project, subject to a 1.5-per-cent net smelter returns royalty (NSR), that the company has issued 160,000 common shares and made an initial milestone payment of $18,000 to the property optionors. Under the terms of the option agreement, the company may acquire the project, subject to the NSR, by making the cash and share payments to the optionors as shown in the attached table. The company notes that the NSR is subject to a buyback right in favour of the company, under which the company may reduce the NSR to 1.0 per cent by making a payment of $500,000 to the optionors. The project is located in Northern Ontario, Canada, roughly 70 kilometres north-northeast of the town of Kapuskasing, and is defined by 255 contiguous mining claims spanning a total of 5,178 hectares. The mining claims and patents can be easily accessed by four-by-four pick-up truck using an all-weather access road. The Pinard intrusive rock complex is an Alkaline igneous host with rocks ranging from nepheline syenites and trachyte's to peralkaline granites. These complexes usually occur in plate tectonic settings associated with rifts, faults or hotspot magmatism (Sage, 1988). Early Precambrian aged formations like the Pinard complex are typical of the Kapuskasing subprovince geology and is similar to the Clay Howell intrusive, which hosts a REE deposit 20 kilometres to the southwest of the Pinard property. Qualified person Afzaal Pirzada, PGeo, a director of the company and a qualified person as defined by National Instrument 43-101, reviewed and approved the scientific and technical information disclosed in this press release. About Powermax Minerals Inc. Powermax Minerals is a Canadian mineral exploration company focused on advancing rare-earth element projects. The company holds an option to acquire the Cameron REE property, comprising three mineral claims totalling approximately 2,984 hectares in British Columbia. Powermax also optioned to acquire the Atikokan REE property, consisting of 455 unpatented mining claims in Northwestern Ontario. Powermax also owns a 100-per-cent interest in the Ogden Bear Lodge project, in Crook county, Wyoming. We seek Safe Harbor.