#Canada #Toronto #Nisk Project #Power Metallic #Li-FT Power

Power Metallic Completes Acquisition of Li-FT Power Land

Power Metallic Mines Inc. (the "Company" or "Power Metallic") has announced a significant milestone in its growth strategy by closing the acquisition of 313 mineral claims, totaling 167 km², from Li-FT Power Ltd. This acquisition enhances Power Metallic's existing land holdings in the highly promising Nisk Project Area, adjacent to the valuable Nisk copper and platinum-group element (Cu-PGE) discoveries.

Acquisition Details

The agreement, officially closed on July 14, 2025, comes after meeting all closing conditions, including obtaining final approval from the TSX Venture Exchange. As part of the transaction, Power Metallic has made a cash payment of $700,000 to Li-FT and issued 6,000,000 common shares of the Company. This strategic purchase not only boosts Power Metallic's total land holdings in the Nisk camp to approximately 212.86 km² but also secures around 20 km of strike on the northern margin and 30 km on the southern margin of the basin. The newly acquired properties envelop the Lion, Nisk, and Tiger discoveries, placing the Company in a prime position for future explorations and mining operations.

Implications for Future Exploration

Joseph Campbell, P.Geo, and VP of Exploration at Power Metallic, has validated the technical disclosures in this announcement. With these additional claims, Power Metallic aims to expedite its exploration efforts, focusing on the expansion of mineralization at the Nisk and Lion discovery zones while evaluating the potential of the Tiger target.

Strategic Growth and Administrative Changes

In alignment with its growth objectives, Power Metallic has also appointed a new auditor, MNP LLP, to undertake its financial oversight. This change is indicative of the Company’s commitment to enhancing its structures as it prepares for potential listings on senior stock exchanges.

Financial Adjustments for Greater Clarity

In its forthcoming interim financial statements for Q2 ending June 30, 2025, Power Metallic plans to implement a reclassification of certain comparative figures regarding investor relations expenses. This adjustment aims to provide greater transparency to its investors, clearly delineating expenditure categories such as Shareholder Communications, Listing Fees, and Advisory Services from the overall investor relations budget, which totaled approximately $3,181,461 in the fiscal year ending December 31, 2023.

About Power Metallic Mines Inc.

Power Metallic is a dedicated Canadian exploration company. Its primary focus is advancing the Nisk Project Area (Nisk-Lion-Tiger), which is expected to become Canada’s next notable polymetallic mine featuring high-grade copper, nickel, and precious metals. The Company initially secured an 80% option on the Nisk project from Critical Elements Lithium Corp. in early February 2021, and this newly acquired land is poised to bolster their exploratory initiatives significantly.

In addition to the Nisk area, Power Metallic holds significant interests in mineral-rich lands across British Columbia and Chile, thanks to a 50% ownership stake in Chilean Metals Inc. Furthermore, it controls 100% of Power Metallic Arabia, which possesses the Jabul Baudan exploration license in Saudi Arabia—an area recognized for its high mineral potential, particularly for copper-gold and zinc.

This acquisition signals Power Metallic’s determined approach to establishing itself as a key player in the mining sector, with a robust portfolio that emphasizes growth, exploration, and responsible mining practices. The implications of this strategic acquisition will likely set the stage for enhanced operational capabilities, further positioning the Company for success in the competitive mineral exploration landscape.