Price Target Changed • May 11
Price target increased by 7.5% to CA$2.88 Up from CA$2.68, the current price target is an average from 5 analysts. New target price is 104% above last closing price of CA$1.41. Stock is up 23% over the past year. The company posted a net loss per share of CA$0.18 last year. Announcement • May 08
Power Metallic Mines Inc Reports Additional Assays from Winter 2026 Drill Program Power Metallic Mines Inc. provided additional assays from its winter 2026 drill program. Additional drill holes continued to add and refine the high-grade Lion Zone ahead of the 2026 Mineral Resource Estimate (MRE). The infill drill holes in this release cover approximately 560 m down plunge extent from the core of the Lion Zone (PML-26-095) to central southwestern Lion area (PML-26-069). These holes highlight both the robust near surface mineralization as well as returning the deepest high-grade intercept at Lion. These holes will be incorporated into future mineral resource estimates and highlight the potential for open pit development. Continued evolution and support of the modelled interpretation of the Lion Zone is evidenced by PML-26-095 which intersected the interpreted core of the Lion Zone with wide intersections of high-grade copper near surface with 22.00 m @ 11.46% CuEqRec1 including 6.50 m @ 18.59% CuEqRec1 and including 4.00 m @18.62%CuEqRec1. Hole PML-26-069 tested the zone approximately 560 m south-southwest down plunge of PML-26-095 at a vertical depth of 600 m containing a moderate grade of 6.58 m @ 4.00% CuEqRec1 including a high-grade interval of 2.82 m @ 8.26% CuEqRec1. Table 1: Lion Results - Winter 2026 Hole From To Length Au Ag Cu Pd Pt Ni CuEq Rec* (m) (m) (m) (g/t) (g/t) (%) (g/t) (g/t) (%) (%) LION MRE PML-26-069 674.18 680.76 6.58 0.36 7.76 1.43 4.31 0.61 0.12 4.00 Including 674.18 677.00 2.82 0.48 13.40 2.94 9.67 1.40 0.19 8.26 PML-26-095 155.00 177.00 22.00 2.82 23.37 4.92 4.79 5.12 0.27 11.46 Including 155.00 159.00 4.00 0.60 44.95 8.62 4.76 18.18 0.45 18.62 And Including 160.50 167.00 6.50 1.15 42.88 9.41 11.69 5.98 0.56 18.59 And Including 172.00 175.00 3.00 17.12 11.79 3.41 2.27 0.04 0.09 17.12 Note: Reported length is downhole distance; true width based on model projections is estimated as 85% of downhole length 1Copper Equivalent Rec Calculation (CuEqRec1) CuEqRec represents CuEq calculated based on the following metal prices (USD): 2,360.15 $/oz Au, 27.98 $/oz Ag, 1,215.00 $/oz Pd, 1000.00 $/oz Pt, 4.00 $/lb Cu, 10.00 $/lb Ni and 22.50 $/lb Co., and recovered grades based on recent locked-cycle metallurgical recoveries by SGS Canada Inc. Exploratory Drilling – East of Tiger Drill holes PML-26-065, and -076, located to the east of Tiger, were designed to test modeled anomalies derived from the 2025 airborne VTEM survey. Both holes hit anomalous mineralization of sub-economic grades including 1 m of 0.19% Cu at 39.5-40.5 m and 1 m of 0.81 g/t Pt at 96.5-97.5m (PML-26-065). PML-25-076 displayed Lion style assemblages of Au-Cu-Ni-Pd-Pt from 207-233.5 m, averaging 0.1% CuEq. Power Metallic is expecting more assay results from the MRE drilling and regional exploration in the weeks to come. Qualified Person Joseph Campbell, P. Geo, VP Exploration at Power Metallic, is the qualified person who has reviewed and approved the technical disclosure contained in this news release. QAQC 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 either HQ or NQ sized core. Drill core is re-fitted and measured. Geotech on core includes photographs (wet & 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 QAQC program includes regular insertion of CRM standards, duplicates, and blanks into the sample stream with a stringent review of all results. QAQC and data validation was 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 an ISO 9001 and 17025 certified and accredited laboratories. Samples submitted through Actlabs are run through standard preparation methods and analysed using RX-1 (Dry, crush (< 7 kg) up to 80% passing 2 mm, riffle split (250 g) and pulverize (mild steel) to 95% passing 105 µm) preparation methods, and using 1F2 (ICP-OES) and 1C-OES - 4-Acid near total digestion + Gold-Platinum-Palladium analysis and 8-Peroxide ICP-OES, for regular and over detection limit analysis. Pegmatite samples are analyzed using UT7 - Li up to 5%, Rb up to 2% method. Actlabs also undertake their own internal coarse and pulp duplicate analysis to ensure proper sample preparation and equipment calibration. Announcement • May 04
Power Metallic Mines Inc. Reports Additional Assays from Winter 2026 Drill Program At Lion Zone Power Metallic Mines Inc. had provided additional assays from its winter 2026 drill program. Drilling continued to define the high-grade Lion Zone in preparation for a 2026 Mineral Resource Estimate (MRE). The infill drill holes in this release are for holes that cover approximately 200 m of strike length from the middle core of the Lion Zone (PML-26-094) to the western edge (PML-26-104), defining mineralization at a vertical depth of approximately 100 m below surface. These holes will be important for future mineral resource estimates to an Indicated Resource classification, potentially for open pit exploitation. The 2026 winter drill campaign continues to support the modelled interpretation of the Lion Zone based on earlier wider spaced drilling and includes PML-26-094 which intersected the interpreted core of the Lion Zone and adds further support to wide intersections of high-grade copper near surface with 17.45 m @ 9.47% CuEqRec1 including 6.30 m @ 17.91% CuEqRec1. Hole PML-26-101 tested the zone approximately 100 m east of PML-26-094 at a slightly deeper vertical depth and contained high grade over a very wide intersection with 39.00 m @ 5.66% CuEqRec1 including 9.20 m @ 15.18% CuEqRec1. A further 100 m west hole PML-26-104 tested the western edge of the Lion Zone and intersected 7.40 m @ 1.07% CuEqRec1 and confirmed the expected mineralization modeled from the wider spaced earlier drilling in this area. Power Metallic is expecting more assay results from the MRE drilling and the regional exploration in the coming days and weeks. Exploratory Drilling – Between Lion and Tiger Drill holes PML-26-071, 074, and 078 were designed to test relatively shallow depths to explore for additional zones of mineralization between Lion and Tiger. While none of the holes hit sufficiently wide zones of mineralization, narrow zones included 0.8 meters @ 0.33% Cu, 0.78 g/t Pd, and 0.35 g/t Pt in hole PML-26-074, indicating the mineralizing structures are still present in the Lion to Tiger area. Qualified Person Joseph Campbell, P. Geo, VP Exploration at Power Metallic, is the qualified person who has reviewed and approved the technical disclosure contained in this news release. QAQC 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 re-fitted and measured. Geotech on core includes photographs (wet & 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 QAQC program includes regular insertion of CRM standards, duplicates, and blanks into the sample stream with a stringent review of all results. QAQC and data validation was 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 an ISO 9001 and 17025 certified and accredited laboratories. Samples submitted through Actlabs are run through standard preparation methods and analysed using RX-1 (Dry, crush (< 7 kg) up to 80% passing 2 mm, riffle split (250 g) and pulverize (mild steel) to 95% passing 105 µm) preparation methods, and using 1F2 (ICP-OES) and 1C-OES - 4-Acid near total digestion + Gold-Platinum-Palladium analysis and 8-Peroxide ICP-OES, for regular and over detection limit analysis. Pegmatite samples are analyzed using UT7 - Li up to 5%, Rb up to 2% method. Actlabs also undertake their own internal coarse and pulp duplicate analysis to ensure proper sample preparation and equipment calibration. 
