Power Nickel Inc. Transforms into Power Metallic Mines Inc.

On February 19, 2025, Power Nickel Inc., a Canadian exploration company, announced a significant change in its corporate identity. The company has received approval from the TSX Venture Exchange to officially change its name to Power Metallic Mines Inc. This transformation will come into effect at the start of trading on February 21, 2025, marking a new chapter in the company’s pursuit of high-grade polymetallic mining opportunities.

The decision to rebrand stems from the company’s focus on its expansive mining potential, particularly regarding the Nisk project, which has garnered attention for its impressive high-grade copper, platinum, and palladium discoveries. Terry Lynch, the CEO of Power Nickel, stated, "Nickel isn't a four-letter word in North America, but it also does not fully capture the high-grade polymetallic discoveries we've made at Nisk. The Lion Zone’s remarkable high-grade assays across over 40 holes and extensive drilling suggested that a more compelling name was warranted."

The name change is intended to better reflect the company's diversified mining interests and the high-value mineral assets within its portfolio. As part of the rebranding process, Power Metallic Mines Inc. will launch a new website at www.PowerMetallic.com, alongside new promotional materials that emphasize its evolving mission.

Power Nickel, originally known as Chilean Metals, has been focused on transforming its flagship Nisk project into potentially Canada’s next notable polymetallic mine. The company completed the acquisition of up to 80% of the Nisk project from Critical Elements Lithium Corp. on February 1, 2021. With a substantial land position and numerous high-grade intercepts, Power Nickel has positioned itself to expand its exploration efforts, further exploring zones like the initial Nisk discovery and the Lion area.

Industry experts have recognized the potential of the Nisk property, which comprises a remarkable 20-kilometer strike length, indicating significant room for further discovery and mineral extraction. The company’s ongoing drilling programs are specifically designed to test for high-grade nickel-copper PGM, gold, and silver mineralization.

As Power Nickel transitions to Power Metallic Mines Inc., stakeholders remain optimistic about the anticipated growth and the company’s commitment to leading Canada's mining sector towards a sustainable future. The rebranding reflects not only a fresh identity but also a strategic focus on mining diversification in an evolving market.

This pivotal moment is a clear indication of Power Nickel's ambition to become a dominant player in the polymetallic mining space. By adopting a name that encapsulates its exploration goals and high-grade discoveries, Power Metallic Mines Inc. is set to unveil its next significant phase of discovery following the name change.

Forward-Looking Statements

It is important to note that this announcement includes forward-looking statements, which are inherently subject to uncertainties and risks that may lead to actual outcomes differing from projections. Stakeholders are advised to consider these factors as part of their investment considerations moving forward.

In summary, Power Metallic Mines Inc. is poised for an exciting new chapter with its name change, aimed at better representing its current operations and the exceptional potentials of its mining projects. As the company embarks on this new journey, it welcomes investors and stakeholders to join in its mission of making impactful strides in the mining industry.

For more updates, visit www.PowerMetallic.com once it launches.