Mr. Terry Lynch reports

POWER METALLIC PARTNERS WITH IDEON TECHNOLOGIES TO UNLOCK DEEP DISCOVERY POTENTIAL AT NISK LION ZONE USING MUON TOMOGRAPHY

Power Metallic Mines Inc. has engaged Vancouver-based Ideon Technologies to activate a borehole muon tomography imaging program at the Lion zone discovery within the Nisk polymetallic project area in Quebec, Canada. A global leader in subsurface intelligence, the Ideon Reveal solution will generate a high-resolution, three-dimensional density model of the rock composition in and around the Lion deposit.

The program is structured in two stages: first, validating the Ideon density model against Power Metallic's existing 100-plus-hole drill data set at Lion, then applying the calibrated mineralization fingerprint to rank and test deep targets across the 330-square-kilometre Nisk district-scale property that are below the detection limit of conventional surface-based geophysical methods (that is, below 200 metres).

About the technology: seeing deep into the Earth using energy from space

The Ideon Reveal platform detects cosmic-ray muons -- naturally occurring subatomic particles created by supernova explosions in deep space. Muons lose energy progressively in direct proportion to the density of the material they pass through. By positioning arrays of muon detectors in boreholes at varying depths, Ideon can construct 3-D tomographic models of subsurface density over millions of cubic metres of earth, potentially replacing hundreds of drill holes while providing greater subsurface visibility at a fraction of the cost and time and with significantly less environmental impact.

The Ideon Reveal platform and is designed for the most demanding of exploration and mining environments. It uses proprietary hardware, software and imaging systems with advanced AI-powered (artificial intelligence) analysis and data fusion capabilities. It has been field proved at some of the world's most demanding mine sites, including at Rio Tinto's Kennecott Utah copper operation at Bingham Canyon, BHP's Nickel West and Olympic Dam mines in Australia, Vale Base Metals' Creighton and Totten mines in Sudbury, Ont., and Fireweed Metals' remote Macmillan Pass district in Yukon.

Why Lion is an exceptional muon target

The mineralogy of the Lion zone is ideally suited to muon tomography. The deposit's high-grade core is dominated by massive to brecciated chalcopyrite, cubanite, pyrrhotite, pentlandite and pyrite -- minerals with bulk densities of 4.0 to greater than 5.0 grams per cubic centimetre. These contrast sharply with the surrounding felsic, mafic and ultramafic host rocks, which carry background densities of approximately 2.8 to 3.0 grams per cubic centimetre. The Ideon solution will be used to produce 3-D density models of individual dipping stratigraphic horizons and potential extensions of the deposit at multimetre-scale resolution.

The initial phase of the program will deploy borehole muon detectors into dedicated drill holes at the Lion zone. The imaging program will run autonomously, passively and continuously collecting data over several months and delivering to Power Metallic a three-dimensional density model of the deposit. This phase will be conducted blindly, meaning that no constraining data (other than surface topography) will be provided.

In total, the survey will map the density of over 55 million cubic metres of rock volume. The imaging program is planned to run for six months in duration, with the option to extend to eight months if needed to optimize resolution and establish the Lion zone ore signature.

The Lion imaging program is designed as a validation exercise. Power Metallic holds an extensive drill data set at Lion built from more than 100 holes across multiple campaigns. By producing an unconstrained muon inversion and then comparing it directly against the known resource model, the company will establish the geophysical fingerprint of a Lion-style polymetallic massive sulphide system. Once the density signature of Lion mineralization is confirmed to match the tomographic model, that calibrated signature will become the search template for the broader Nisk project district.

District scale: opening a new search space

The most transformative potential of this program lies beyond Lion itself.

Power Metallic's Nisk project encompasses approximately 330 square kilometres of land, including approximately 20 km of strike on the northern basin margin and 30 km on the southern basin margin -- a contiguous belt hosting the Nisk Main deposit, the Lion discovery and numerous additional untested geophysical anomalies. To date, surface and near-surface exploration methods including airborne magnetics, ground gravity and airborne EM (electromagnetics) have provided effective screening tools for targets shallower than approximately 200 m depth. Below that threshold, surface-based techniques are unable to detect deposit-scale targets.

"One of the challenges in exploring any deposit is false positives. Borehole EM continues to be the gold standard, but, increasingly, we are looking to combine it with other techniques that can image thicker mineralization. We are excited to integrate our current best-practice workflow with muon tomography, a technique that's demonstrated it can discover thicker intersections of sulphides. By incorporating an additional physical property beyond BHEM [borehole electromagnetics], we aim to improve our probability of target success and better discriminate high-quality conductors. We are always striving to discover better ore, not just more ore," commented Steve Beresford, director.

Muon tomography will be used to target a search space below 200 metres. Ideon muon sensors can image key geological features in the deep subsurface, extending the effective targeting depth range where the next Lion-scale discovery may be hiding.

The geological rationale for deep exploration at Nisk is compelling. The Tiger zone, located approximately 700 m east of Lion, has already returned Lion-style polymetallic mineralization, confirming the mineralizing system is not confined to Lion alone. The 5.5-kilometre corridor between Lion and Nisk Main remains largely untested at depth. Company geologists have interpreted an easterly plunging structural control on high-grade Lion mineralization that acts as a vector toward a potential source body at greater depth. Regional structural analysis has identified a fold-hinge zone on newly acquired ground that covers an extension of the Lion mineralizing system previously outside the property boundary.

Once a validated muon signature of Lion mineralization is in hand, Power Metallic intends to conduct phased muon surveys across priority targets within this district, applying the calibrated density fingerprint of its known deposit type to rank and test anomalies that otherwise would have to be evaluated with blind drilling.

"We have been excited about Nisk's geological potential for many years and, of course, with the amazing success of the Lion zone discovery, we entered a new frontier. With the guidance of our technical director Steve Beresford and the GeoVector team led by our VP of exploration Joe Campbell, we have continuously pushed the targeting envelope to discover thicker massive Cu-PGE sulphides. Historically, we know the polymetallic discoveries around the world are some of the largest and most profitable mines ever discovered. These discoveries are an order of magnitude bigger than what we have currently discovered. Even the smallest polymetallic discovery is more than 50 per cent larger. What that means in practical terms is we have probably only scratched the surface at Nisk. Even as we are planning to publish our inaugural MRE (mineral resource estimate) this summer to demonstrate that the current discoveries have exciting commercial potential, we remain focused on uncovering Nisk's full potential. Our team believes that muon tomography is the next tool that can accelerate our discovery process and everything I have seen makes me confident that they have once again chosen wisely," commented Terry Lynch, chief executive officer and director.

Qualified person

Joseph Campbell, PGeo, vice-president, exploration, at Power Metallic, is the qualified person who has reviewed and approved the technical disclosure contained in this news release.

About Power Metallic Mines Inc.

Power Metallic is a Canadian exploration company focused on advancing the Nisk project area (Nisk-Lion-Tiger) -- a high-grade copper/platinum group element, nickel, gold and silver system -- toward Canada's next polymetallic mine.

On Feb. 1, 2021, Power Metallic (then Chilean Metals) secured an option to earn up to 80 per cent of the Nisk project from Critical Elements Lithium Corp. Following the June, 2025, purchase of 313 adjoining claims (approximately 167 square kilometres) from Li-FT Power, the company now controls approximately 330 square kilometres and roughly 50 kilometres of prospective basin margins.

Power Metallic is expanding mineralization at the Nisk and Lion discovery zones, evaluating the Tiger target, and exploring the enlarged land package through successive drill programs.

Beyond the Nisk project area, Power Metallic indirectly has an interest in significant land packages in British Columbia and Chile, by its 50-per-cent share ownership position in Chilean Metals Inc., which was spun out from Power Metallic through a plan of arrangement on Feb. 3, 2025.

It also owns 100 per cent of Power Metallic Arabia, which owns 100-per-cent interest in the Jabul Baudan exploration licence in the Kingdom of Saudi Arabia's Jabal Sayid belt. The property encompasses over 200 square kilometres in an area recognized for its high prospectivity for copper, gold and zinc mineralization. The region is known for its volcanogenic massive sulphide (VMS) deposits, including the world-class Jabal Sayid mine and the promising Umm and Damad deposit.

Quality assurance/quality control and sampling

GeoVector Management Inc. is the consulting company retained to perform the actual drilling program, which includes core logging and sampling of the drill core.

All core in this news release is NQ-sized core. Drill core is refitted and measured. Geotech on core includes photographs (wet and dry), rock quality index, magnetic susceptibility, conductivity and recovery estimates. Core is logged for lithology, mineralogy and structural features, and sample intervals are delineated and tagged.

Sampled core is mechanically sawn, and half-core is retained for future reference. GeoVector's QA/QC program includes regular insertion of CRM (certified reference material) standards, duplicates and blanks into the sample stream with a stringent review of all results. QA/QC and data validation were performed, and no material errors were observed.

All samples were submitted to and analyzed at Activation Laboratories Ltd., a commercial laboratory independent of Power Metallic with no interest in the project. Actlabs is certified and accredited under ISO 9001 and ISO 17025. Samples submitted through Actlabs are run through standard preparation methods and analyzed using RX-1 (dry, crush (less than seven kilograms) up to 80 per cent passing two millimetres, riffle split (250 grams) and pulverized (mild steel) to 95 per cent passing 105 micrometres) preparation methods, and using 1F2 (ICP-OES) and 1C-OES four-acid near-total digestion plus gold-platinum-palladium analysis and eight-peroxide ICP-OES for regular and over-detection-limit analysis. Pegmatite samples are analyzed using the UT7 method (lithium up to 5 per cent and rubidium up to 2 per cent). Actlabs also undertakes its own internal coarse and pulp duplicate analysis to ensure proper sample preparation and equipment calibration.

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