Major Highlights

• High-grade concentrate achieved from Phase II ore sorting, affirmed by Cesium concentrate of 18.57% Cesium Oxide (Cs₂O)
• Results confirm cost-effective production of bulk Cesium concentrate at flagship Case Lake project in Ontario, Canada
• The ore sorting program and analysis reveals minimal environmental impacts of any onsite production for a high-grade concentrate 
• Corporate update on the Case Lake project as the Company continues to advance toward Cesium production with potential to supply critical minerals to North America

Power Metals Corp (TSX-V: PWM) (FRANKFURT: OAA1) (OTCQB: PWRMF) is pleased to announce the successful completion of our Phase II ore sorting test work, resulting in the production of a bulk high-grade cesium oxide product up to 18.57% from its 100%-owned Case Lake Project (CLP) in northeastern Ontario.

This is another significant milestone for the Company with the completion of our bulk test work, demonstrating a very cost-effective process in the production of high-grade concentrate material from the project that include:

• Sample 24-037-A01P 25.30% Cs₂O, 0.50% Li₂O, and 79 ppm Ta
• Sample 24-037-A02P 4.70% Cs₂O, 1.70% Li₂O, and 1030 ppm Ta
• Sample 24-037-B01P 25.60% Cs₂O, 0.30% Li₂O, and 51 ppm Ta
• Sample 24-037-B02P 8.20% Cs₂O, 0.95% Li₂O, and 3500 ppm Ta

This world-class deposit continues to advance towards production as we target the ongoing demand for critical mineral resources within the North American market.

Haydn Daxter, CEO of Power Metals commented:

“The successful completion of our bulk ore sorting trials for both Phase I and Phase II demonstrates the efficiency and scalability of our processes for producing high-purity cesium concentrate. The results not only attest the cost-effectiveness by optimising capital and operational expenditure but importantly aligns with our commitment to responsible development and minimal environmental impacts.

“The positive final assay results from this bulk concentrate test work, further validates the strength of our ore sorting technology at West Joe. These results reinforce our position as an emerging player in the North American critical minerals sector, strategically positioning the Company to meet the growing demand for this essential resource.”

Johnathan More, Chairman and Founder of Power Metals added:

“This latest milestone marks another important achievement for Power Metals as we advance our Case Lake project towards production. By confirming we can produce high-quality concentrate in today’s competitive critical minerals market, strategically positions the Company to capitalize on the growing demand for this essential resource. I also look forward to our Maiden Resource Estimate (MRE) being completed in the very near future.”

CORPORATE UPDATE:

The Company is nearing completion of our Maiden Resource Estimate (MRE) for the Case Lake Project and eagerly anticipate completion in the coming weeks. Additionally, we have continued to receive strong interest from a diverse group of international strategic investors, whilst conducting multiple site visit requests and ongoing discussions around potential partnerships.

PHASE II BULK SAMPLE

The Company has received continued high-grade concentrate assay results from the pollucite material that was produced via XRT ore sorting from our Phase II test work in Germany. The concentrates were produced from a 254kg bulk sample (Table 1) derived from drill holes PWM-24-203 to PWM-24-206, PWM-24-222 to PWM-24-225, and PWM-24-227 (Table 2) (Refer to press releases announced November 19 and December 03, 2024). Mineralized intervals were selected from all reported drill holes and produced 67 quarter-split and half-half split HQ core samples with average grades of 4.03% Cs₂O, 1.31% Li₂O, and 475ppm Ta over a 5.83-meter interval (Table 2).

Table 1 – Summary of Assay Results for Phase II Ore Sorting Products – Weighted by Sample Weight in Kg

As with the Phase I ore sorting test work, the Company conducted X-ray Transmission (XRT) based ore sorting technology to produce all metallurgical samples for Phase II, crushed and blended forming a bulk metallurgical sample, that was subsequently divided into two sample subsets (+12-25mm and +6-12mm) and a fines material (sub 6mm) based on size fraction of ore particles.

The primary and secondary XRT analysis utilised 254 kg of material from 67 drill core samples that were crushed, screened at 6 to 25 mm, and sorted with two stages of XRT testing. The feed grade for the 67 samples based on assay composites for Phase I and II metallurgical drill holes 4.03% Cs₂O, 1.31% Li₂O, and 475ppm Ta over a 5.83-meter (Table 2).

Table 2 – Summary of Assay Composites for All Samples Used in Phase II Ore Sorting – Weighted by Core Length in meters

The primary XRT analysis produced two very high-density and grade concentrates of 21.80 kg’s and 6.10 kg’s (Sample 24-037-A01P and 24-037-B01P) with 25.30% Cs₂O, 79 ppm Ta, 0.50% Li₂O and 25.60% Cs₂O, 51 ppm Ta, 0.30% Li₂O. (Table 3)

Table 3 – Summary of Assay Results for Phase II Ore Sorting Concentrate Products from Primary Runs – Weighted by Sample Weight in Kg

The ejected mass of 12.40 kg’s and 1.70 kg’s of product from the primary analysis was resorted with XRT and produced two secondary concentrates (Sample 24-037-A02P and 24-037-B02P) with 4.70% Cs₂O, 1030 ppm Ta, 1.70% Li₂O, and 8.20% Cs₂O, 3500 ppm Ta, 0.95% Li₂O.

Table 4 – Summary of Assay Results for Ore Sorting Concentrate Products from Primary and Secondary Runs – Weighted by Sample Weight in Kg

The results of Phase I and II XRT ore sorting study has demonstrated very achievable production of high-grade pollucite concentrates, Phase II Samples 24-037-A01P, 24-037-A02P, 24-037-B01P and 24-037-B02P represented on average 18.57% Cs₂O, 494 ppm Ta, and 0.84% Li₂O (Table 1-4).

METALLURGICAL HOLES:

Phase I and II metallurgical drilling consisted of 9 (nine) HQ (63.5mm) diamond drill holes at West Joe. Drilling consisted of shallow targets to provide a consistent ore sorting and mineral separation on the West Joe Project. Targeting high grade cesium oxide through to the Company’s proposed cut-off grades at the lower end of mineralization. Phase II ore sorting and the separation of cesium oxide material from the metallurgical holes also included high-grade spodumene and tantalum (Table 5) which has the capacity to develop additional streams of income alongside the cesium oxide production. Cesium oxide concentrate is currently with SGS Lakefield for analysis to produce product grades.

Table 5 – Summary of Assay Composites from HQ Metallurgical Holes (previously reported)

Sampling and QAQC Procedures

Samples were taken across every pegmatite and 1.5 meter into the barren host rock on either side of dykes. Sample lengths were around 1-metre NQ (47.6 mm) and HQ (63.5 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 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. Assay results for products of ore sorting samples were analyzed at SGS Lakefield using sodium peroxide fusion ICP-OES for Lithium, sodium peroxide fusion ICP-MS, and borate fusion XRF for Cesium.

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 586 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 1).

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 1).

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 1).

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 1).

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 1)

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.

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 – Power Metals Corp Project Locations Map in Ontario and Quebec Canada (CNW Group/Power Metals Corp.)