Power Metals completes Decelles, Mazerac acquisition

Executive Summary

• Power Metals Corp. received TSX Venture Exchange approval to complete its acquisition of the Decelles and Mazerac properties in Quebec from Winsable Resources.
• As consideration, Winsable Resources will receive an additional issuance of 17.65 million Power Metals common shares, raising its ownership to approximately 16.15 % of the company’s issued capital.
• The added properties expand Power Metals’ critical‑minerals portfolio (lithium, cesium, tantalum) and strengthen its strategic position in North America’s battery‑metal supply chain.

Key Details

• Transaction Approval: TSX Venture Exchange confirmed completion of the Decelles & Mazerac acquisition originally announced on Aug. 24 2023.
• Share Issuance: Winsable Resources to be issued 17.65 million Power Metals common shares, bringing its total holding to 16.15 % of outstanding shares.
• Strategic Rationale: Enhances Power Metals’ diversified portfolio of high‑value critical mineral assets across Canada, supporting energy security and supply‑chain resilience.
• Property Overviews:
• Decelles Property: 247 claims covering 14,229 ha in the Archean Pontiac subprovince; adjacent to Vision Lithium’s Cadillac property with recent high‑grade lithium discoveries.
• Mazerac Property: 115 claims covering 6,653 ha, located ~30 km east of Decelles; similar S‑type, LCT‑prospective granitic geology.
• CEO Comment: Haydn Daxter stated the approval “strengthens our footprint in Canada for critical minerals exploration and confirms our collaboration with Winsable Resources as our major shareholder.”
• Technical Disclosure: Reviewed and approved by Amanuel Bein, MSc, PGeo, VP Exploration (NI 43‑101 qualified person).

Notable Quotes

“We are pleased to receive the final confirmation from the TSX Venture Exchange on the acquisition of these two properties in Quebec, Canada. This strengthens our footprint in Canada for critical minerals exploration and confirms our collaboration with Winsable Resources as our major shareholder.” – Haydn Daxter, CEO, Power Metals Corp.