#Canada #Toronto #Power Metallic #Lion #Nisk

Power Metallic Updates on Mineral Resource Estimate

Power Metallic Mines Inc. has provided a significant update regarding its Mineral Resource Estimate (MRE) for 2026, specifically on its notable Nisk and Lion discoveries. The company announced on July 30, 2026, that the much-anticipated release of the MRE will now be pushed back to the end of August due to staffing capacity issues at the consulting engineering firm responsible for the work.

The firm has already received the necessary information from Power Metallic, but overlapping commitments related to multiple ongoing projects have resulted in unforeseen delays. Despite this setback, Power Metallic remains optimistic about its prospects, with five rigs actively exploring the project area. The organization anticipates starting to provide assay results from its ongoing summer drilling program in September, with consistent updates expected throughout the fall season.

In addition to the MRE delay, Power Metallic is looking forward to incorporating the findings from its recent Squid survey and the initial results from the Muon Geophysical program into its upcoming fall exploration strategy. These insights will follow the Moose Break, a scheduled pause from September 15 to October 15, 2026, which will allow the company to reassess its strategies and operations.

Corporate developments are also on the horizon for Power Metallic. The company is diligently advancing its application to list on the Nasdaq exchange, having received shareholder approval for the necessary updates to its charter documents during the annual general meeting held on June 30, 2026. This strategic move aims to enhance the company's visibility and access to capital markets, ultimately fostering growth and exploration endeavors.

To incentivize its staff, Power Metallic has granted 11.3 million incentive stock options to directors, officers, and consultants at an exercise price of $1.25 per share, valid for a range of two to five years. Additionally, directors have received 650,000 deferred share units (DSUs), which ensure that participants benefit as long as they remain with the organization.

To bolster market stability, Power Metallic has engaged Red Cloud Securities Inc. for ongoing market stabilization and liquidity support. Red Cloud, known for assisting mining and exploration firms in accessing capital markets, has been retained to trade shares of Power Metallic, which shall aid in maintaining a reasonable market and improving liquidity for the company’s stock. As part of this agreement, Power Metallic will compensate Red Cloud with $7,000 monthly over the duration of the partnership, which can be terminated by either party with a 30-day notice.

Power Metallic, a Canadian exploration company, centers its efforts on advancing the Nisk Project Area, which includes the highly regarded Copper-PGE, Nickel, gold, and silver system, aiming to cultivate Canada’s next polymetallic mine. Since securing the option to earn up to 80% of the Nisk project from Critical Elements Lithium Corp. in February 2021, the company expanded its control to approximately 330 km² following its acquisition of adjoining claims from Li-FT Power in June 2025.

Power Metallic continues to explore mineralization at both the Nisk and Lion discovery zones, while also evaluating potential at the Tiger target. In addition to its core projects, the company holds various land packages in British Columbia and Chile, thanks to its 50% ownership in Chilean Metals Inc. Furthermore, it fully owns Power Metallic Arabia, which has a significant exploratory license in Saudi Arabia, an area well-regarded for copper, gold, and zinc mineralization.

For those interested in more information about Power Metallic Mines Inc., further inquiries can be directed to their office located at The Canadian Venture Building, 82 Richmond St East, Suite 202, Toronto, ON.

Cautionary Note Regarding Forward-Looking Statements: The statements included in this piece may be classified as forward-looking, within the meaning of applicable securities laws. While Power Metallic believes that these expectations are based on reasonable assumptions, they are ultimately not guarantees of performance and are subject to various risks and uncertainties that may lead to differing actual results.