Powermax completes acquisition of Ogden Bear project

Mr. Paul Gorman reports POWERMAX ANNOUNCES COMPLETION OF ACQUISITION OF A 100% INTEREST IN THE OGDEN BEAR LODGE REE PROJECT IN CROOK COUNTY, WYOMING Powermax Minerals Inc. has completed the acquisition of a 100-per-cent interest in the Ogden Bear Lodge REE (rare-earth element) project in Crook county, Wyoming, from 1357508 B.C. Ltd. (1357508) via the purchase from 1357508 of all of the shares of its formerly wholly owned subsidiary, Goldenears Exploration Corp., pursuant to the terms of a share purchase agreement dated Sept. 23, 2025, as previously announced in the press release dated Sept. 29, 2025. The consideration paid by the company under the purchase agreement consists of 250,000 common shares of Powermax. The property comprises 22 federal unpatented lode mining claims totalling 184 hectares. The property is strategically located in the Bear Lodge mining district, located in Crook county in northeast Wyoming, an active mining region since the discovery of gold in 1875 near Warren Peak. Exploration activity in the district has historically targeted gold, rare-earth elements (REEs), barium, copper, lead, zinc, manganese, niobium, tantalum, thorium, fluorine and phosphate1. Most notably within the Bear Lodge mining district is the Bear Lodge critical rare-earth project owned by Rare Element Resources Ltd. (the RER Bear Lodge project). Rare Element Resources has recently received a non-binding letter of interest from the Export-Import Bank of the United States for debt financing for the RER Bear Lodge project for up to $553-million (U.S.), which funds would support the permitting, engineering design and construction of the RER Bear Lodge project. The property shares its western border with the RER Bear Lodge project. The company will provide further updates as the permitting process advances and as exploration activities commence on the claims. Afzaal Pirzada, BSc, PGeo, a director to the company, is the qualified person (as such term is defined in National Instrument 43-101), who has reviewed and approved the scientific and technical disclosure contained in this news 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, located in British Columbia, and the Atikokan REE property, located in Ontario. We seek Safe Harbor.