Major Highlights

• Additional results from the Phase III exploration campaign returned additional consistent high-grade, multi-element mineralization
• Shallow concentrations of up to 22.70% cesium oxide (Cs₂O) and up to 6,211ppm and 5,683ppm tantalum identified across drill holes
• Results to assist with development of maiden Mineral Resource Estimate for Case Lake

Power Metals Corp (TSX-V: PWM) (FRANKFURT: OAA1) (OTCQB: PWRMF) is pleased to announce high-grade results from final assays from the Phase III drill program at the 100%-owned Case Lake Project in northeastern Ontario.

Shallow, high-grade, and consistent mineralization with exceptional cesium oxide (Cs₂O) and tantalum (Ta) intercepts were identified at the West Joe prospect, including concentrations of up to 22.70% Cs₂O and 6,211ppm Ta.

These final assay results from the Company’s Phase III drilling campaign continue to reinforce the opportunity to target multi-element resource development at the world-class Case Lake Project.

The Company completed a total of 8,028m of exploration drilling across the property during 2024, with the following exceptional results returned from West Joe:

• PWM-24-242: 8.07m at 5.19% Cs₂O, 1438 ppm Ta, and 2.19% Li₂O from 10.30m
  • including 4.70m @ 8.72% Cs₂O, 2,435ppm Ta, & 2.50% Li₂O from 13.30m
  • including 1.00m @ 11.70% Cs₂O, 208ppm Ta, & 1.85% Li₂O from 13.30m
• PWM-24-246: 9.95m @ 3.78% Cs₂O, 334ppm Ta, and 1.12% Li₂O from 11.25m
  • including 5.55m @ 5.48% Cs₂O, 413ppm Ta, & 1.62% Li₂O from 11.25m
  • including 0.75m @ 22.70% Cs₂O, 420ppm Ta, & 0.66% Li₂O from 15.05m
• PWM-24-259: 6.65m @ 3.56% Cs₂O, 290 ppm Ta, and 1.15% Li₂O from 19.75m
  • including 5.70m @ 4.14% Cs₂O, 311ppm Ta, & 1.03% Li₂O from 20.70m
  • including 1.53m @ 7.56% Cs₂O, 474ppm Ta, & 0.77% Li₂O from 22.07m
• PWM-24-252: 7.95m @ 2.85% Cs₂O, 351 ppm Ta, and 1.47% Li₂O from 18.35m
  • including 5.10m @ 3.96% Cs₂O, 396ppm Ta, & 1.78% Li₂O from 20.20m  
  • including 0.60m @ 13.50% Cs₂O, 185ppm Ta, & 2.04% Li₂O from 20.20m

Haydn Daxter, CEO of Power Metals commented:

“The final round of assay results from our 2024 Phase III program at Case Lake reinforce the high-grade, multi-element potential of this world-class asset which will become pivotal in meeting global demand for critical minerals.

The addition of extremely high-grade tantalum results that far exceeds economic grades from current tantalum resources globally demonstrates the quality of mineralization at Case Lake.

Simultaneously, we are preparing to commence our Phase I drilling campaign for 2025, which is anticipated to begin after the PDAC Convention in Toronto. I look forward to providing further updates once we hit the ground in Ontario.”

Johnathan More, Chairman and Founder of Power Metals, added:

“The final assay results for Phase III are representative of a fantastic year that demonstrates a high level of continued success displayed by the team to continually discover high-grade cesium and tantalum at Case Lake.

The Company has cemented a very strong foundation as we enter 2025, developing our world-class project and producing consistent high-grade critical minerals. Production of the Case Lake project continues to advance rapidly with the strong backing of our key stakeholders.”

PHASE III DRILLING CAMPAIGN IN 2024

Power Metals has received the second round of assay results from its 2024 Phase III exploration campaign, completed at Case Lake with Black Diamond Drilling. The Company drilled a total of 1,475m in 23 diamond drill holes (PWM-24-236 to PWM-24-259) to delineate and extend cesium mineralized zones at the West Joe prospect.

The first round of assay results from 12 drillholes, announced in early February 2025, confirmed near-surface high-grade pollucite, tantalite, and spodumene with cesium, tantalum, and spodumene grades up to 20.40% Cs₂O, 5,262ppm Ta, and 5.31% Li₂O (refer to press release announced on February 03, 2025).

Assay results from the final 11 drillholes (see Table 1) confirmed near-surface high-grade cesium, tantalum, and lithium mineralization, consistent with pollucite (1-25%), tantalite (0.1-1%), and spodumene (1-30%) mineralization, occurring between 5 to 40m depth at West Joe.

The second round of reported drillholes intersected strong LCT mineralization in zones from 4.85m to 10.05m wide in fractionated pegmatites with 0.80% to 5.19% Cs₂O, 266ppm to 1,438 ppm Ta, and 0.84% to 2.79% Li₂O. The core of mineralization in these holes is characterized by 2.00m to 6.80m wide high-grade zones that on average contain 3.63% Cs₂O, 552 ppm Ta, and 1.03% Li₂O. Drillholes PWM-24-242, PWM-24-246, PWM-24-252, and PWM-24-259 intersected exceptionally high-grade cesium characterized by 7.84% to 22.70% Cs₂O in multiple individual samples.

All reported drillholes showed strong cesium mineralization and high-grade tantalum and lithium, with samples ranging from 504ppm to 6,211 ppm Ta and 2.41% to 5.85% Li₂O, consistent with LCT mineralization in highly fractionated pegmatite systems. Drillholes PWM-24-242, PWM-24-246, PWM-24-248, PWM-24-251, PWM-24-257, and PWM-24-258 reported high-grade tantalum mineralized intervals that grade between 928ppm to 6,211 ppm tantalum. The tantalum rich zone in these holes forms a 4.24m wide high-grade mineralization envelope that averages 3.99% Cs₂O, 775 ppm Ta, and 2.21% Li₂O.

Strong LCT mineralization was intersected in highly evolved pegmatites including:

• Hole PWM-24-242: 8.70m averaging 5.19% Cs₂O in a pollucite-rich zone
• Hole PWM-24-246: 9.95m averaging 3.78% Cs₂O
• Hole PWM-24-259: 6.65m averaging 3.56% Cs₂O
• Hole PWM-24-252: 7.95m averaging 2.85% Cs₂O (refer to Figure 1-4 for further details)

Sampling and QAQC Procedures

Samples were taken across every pegmatite and 1.5m into the barren host rock on either side of dykes. Sample lengths were around 1-meter NQ (48 mm) core diameter, though individual sample length was determined based on internal zoning of the dykes and the locations of their contacts.

The sampled core was cut in half with one half being sent for analysis and the other half remaining in the box for reference. All core is stored at Power Metals’ core storage facility in Cochrane, Ontario. Each sample was put into its own plastic sample bag with a sample tag and closed with zip ties.

About 15% of the samples submitted to SGS Canada (“SGS”) for analysis were QAQC samples that were inserted into the sample stream and consist of a high and low-grade lithium, tantalum, and cesium standards, blank material, and duplicates.

Samples were dropped at SGS Cochrane, in Ontario. Samples submitted to SGS were prepped, crushed, and pulverized in Sudbury and were subsequently sent to SGS Burnaby and SGS Lakefield for multi element analysis using sodium peroxide fusion ICP-AES/ICP-MS and borate fusion XRF. All cesium results above 1% were analyzed using 4-Acid digest AAS at SGS Lakefield.

Table 1 – Summary of assay results in drillholes reported in this announcement (Hole ID in bold text)

Case Lake Property

The Case Lake Property is located 80 km east of Cochrane, northeastern Ontario close to the Ontario – Quebec border. The Property consists of 585 cell claims in Steele, Case, Scapa, Pliny, Abbotsford and Challies townships, Larder Lake Mining Division. The Property is 10km by 9.5km in size with 14 granitic domes. The Case Lake pegmatite swarm consists of six spodumene dykes known as the North, Main, South, East and Northeast dykes on the Henry Dome, and the West Joe dyke on a new dome, collectively forming mineralization trend that extends for approximately 10km (Figure 5).

Power Metals have completed several exploration campaigns that have led to the discovery and expansion of new and historic spodumene bearing LCT pegmatites at Case Lake. The Company has drilled a total of 23,976 meters of core between 2017 and 2024 at the Property. The Case Lake

Property is owned 100% by Power Metals Corp. A National Instrument 43-101 Technical Report has been prepared on Case Lake Property and filed on July 18, 2017 (Figure 5).

Pelletier Property

The Pelletier Property is located 50km south of Hearst, northeastern Ontario close to a network of forestry roads. The Property consists of 337 mineral claims that account for a total of 7000 hectares in Franz, Roche, Scholfield, and Talbot townships in the Porcupine mining division. The Pelletier Project is characterized by LCT prospective S-type pegmatitic granites intruding into metasedimentary and amphibolite of the Quetico at or near Archean terrane boundary between the Quetico and Wawa sub-provinces (Figure 5).

Decelles Property

The Decelles Property contains 669 claims, covering 38,404 hectares of LCT prospective ground near the mining centres of Val-dÓr and Rouyn-Noranda, approximately 600km from Montreal. Power Metals acquired the Decelles and Mazerac properties from Winsome Resources in 2023 in a deal that allowed Winsome to increase its stake to 19.59% (Refer to press release announced on August 24, 2023), the transaction remains subject to TSXV approval. The geology of Decelles property is part of the Archean Pontiac sub-province where S-type LCT prospective, pegmatite bearing, granitic Decelles Batholith intrudes into metasedimentary units of the Pontiac Group. Spodumene and Beryl bearing pegmatites have been reported historically within the Pontiac sub-province in association with S-type garnet-muscovite granite. The Decelles property is adjacent to Vision Lithium’s Cadillac property where discovery of high-grade lithium pegmatites was reported in 2022 (Figure 5).

Mazerac Property

The Mazerac Property is located approximately 30 km east of Power Metals’ Decelles property near well-established mining camps in the Abitibi region of Canada and is accessible by network of mining-grade forestry roads. The Mazerac property contains 259 claims that cover 14,700 hectares of LCT prospective ground near the mining centre of Val-dÓr and Rouyn-Noranda. The regional geology of Mazerac is similar to Decelles where S-type LCT prospective, pegmatite bearing, granites of Decelles Batholith intrude into metasedimentary units of the Pontiac Group. Spodumene and Beryl bearing pegmatites have been reported historically within the Pontiac sub-province in association with S-type garnet-muscovite granite (Figure 5).

Pollucite and Cesium

Pollucite is a rare mineral that hosts high grade cesium and is associated with highly fractionated, rare element pegmatites. The main source of cesium known globally is pollucite (Cs,Na)₂(Al₂Si₄O₁₂)•2H₂O, (https://www.gov.mb.ca/iem/geo/industrial/pollucite.html). Currently the Tanco mine in Manitoba, Canada is the only operating cesium deposit and holds over 60% of the known reserves globally.

Scientific and Technical Disclosure

The scientific and technical disclosure included in this news release has been reviewed and approved by Amanuel Bein, P.Geo., Vice President of Exploration for Power Metals, a Qualified Person under National Instrument 43-101 Standards of Disclosure of Mineral Projects.

About Power Metals Corp

Power Metals Corp is a Canadian exploration company focused on developing high-quality critical mineral projects. Its flagship Case Lake Property in Ontario – 100 per cent owned by Power Metals – is a high-grade cesium, lithium and tantalum asset, poised to become one of only four cesium mines globally. Beyond Case Lake, the Company’s portfolio includes the Pelletier Property in Ontario and the Decelles and Mazerac Properties near Val-D’Or, Québec. Together, these assets cover 1,265 claims spanning more than 600km² of lithium-cesium-tantalum (LCT) prospective ground. As global demand for critical minerals continues to grow global, and particularly in North America, Power Metals is strategically advancing its projects to support the continent’s growing supply needs.

Figure 1– Map of Phase III drilling collars displaying results as highlighted in this announcement (CNW Group/Power Metals Corp.)

Figure 2 – Cross section map of PWM-24-242 from Phase III drilling at West Joe (CNW Group/Power Metals Corp.)

Figure 3 – Cross section map of PWM-24-259 from Phase III drilling at West Joe (CNW Group/Power Metals Corp.)

Figure 4 – Cross section map of PWM-24-252 from Phase III drilling at West Joe (CNW Group/Power Metals Corp.)

Figure 5 – Power Metals Corp Project locations map in Ontario and Quebec Canada (CNW Group/Power Metals Corp.)