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M&A / Property

Powermax Announces Acquisition of 100% Interest in the Ogden Bear Lodge REE Project in Crook County, Wyoming

By The Northwire Desk — AI Analysis Sep 29, 2025 · 16:31 PMAX · 0.59 Powermax Minerals Inc.
PMAX · Price

Executive Summary

  • Powermax Minerals Inc. has entered into a Share Purchase Agreement to acquire 100% of the Ogden Bear Lodge REE Project in Crook County, Wyoming from 1357508 BC Ltd., by issuing 250,000 Powermax common shares.
  • The property comprises 22 federal unpatented lode mining claims covering 184 ha within the Bear Lodge Mining District, adjacent to Rare Element Resources’ Bear Lodge Critical REE Project.
  • Closing is expected around October 8, 2025, subject to customary conditions and CSE approval; the company will commence permitting and exploration activities thereafter.

Key Details

  • Transaction Structure: Share purchase – Powermax will issue 250,000 of its common shares as consideration for all shares of Goldenears Exploration Corp., the wholly‑owned subsidiary holding the property.
  • Closing Timeline: Anticipated on or about October 8, 2025, pending regulatory approvals (including CSE).
  • Property Description: 22 federal unpatented lode mining claims; total area 184 hectares; located in Bear Lodge Mining District, a historically mined region for gold and a variety of critical minerals.
  • Strategic Context: Property borders the Rare Element Resources “Bear Lodge Critical REE Project,” which has received a non‑binding US Export‑Import Bank letter of interest for up to USD 553 million to fund permitting, engineering, and construction.
  • Management Commentary: CEO Paul Gorman highlighted the acquisition as an expansion of Powermax’s rare‑earth portfolio and emphasized proximity to a potentially mineable project, noting strong technical expertise to unlock value.
  • Qualified Person: Afzaal Pirzada, BSc., P.GEO., Director, reviewed and approved the scientific and technical disclosure per NI 43‑101.

Notable Quotes

“We are excited about the acquisition of the Ogden Bear Lodge REE Project in Crook County, Wyoming, which adds to our expanding portfolio of assets,” – Paul Gorman, CEO & Director, Powermax Minerals Inc.

All forward‑looking statements are subject to risks and uncertainties; actual results may differ.

Read the original news release →

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