#Canada #Toronto #Power Metallic #Lion Project #CuEqRec

Power Metallic Mines Reports Exciting New Drill Results

Power Metallic Mines Inc., a prominent player in the mining sector, has recently disclosed impressive assay results from its latest drill program at the Lion project. The company operates under the ticker symbols PNPN on TSXV, PNPNF on OTCBB, and IVV1 in Frankfurt. On July 15, 2026, the organization announced the completion of its Winter 2026 drilling operations, detailing a successful intersection of high-grade copper and other valuable metals.

Drill Program Highlights

The recently completed drill holes were instrumental in compiling data for the initial NI-43-101 Mineral Resource Estimate (MRE) on the Lion site. These results are eagerly awaited, with completion targeted by the end of July, setting the stage for a forthcoming Preliminary Economic Assessment (PEA) that will spring into action following the MRE's completion.

One of the standout results comes from Hole 26-116, which recorded an impressive intercept of 36.42 meters yielding 2.83% CuEqRec at just 75 meters below the surface. Notably, within this interval, there is a remarkable high-grade segment of 6.00 meters at 12.38% CuEqRec. This data confirms the potential of the Lion Zone as a significant copper-polymetallic resource, especially encouraging for future mining prospects.



In addition to the promising grades from Hole 26-116, various other drill holes have demonstrated robust mineralization near the surface, highlighting the feasibility of mining operations in this area. For instance, Holes 26-080 and 26-111 also revealed encouraging assays, with several intersections exhibiting significant copper, gold, and palladium grades that contribute to the resource's overall potential.

Annual General and Special Meeting Results

Alongside the drilling announcements, Power Metallic also held its Annual General and Special Meeting (AGSM) on June 30, 2026, where shareholders voiced their overwhelming support for key initiatives. All proposed business matters were approved, including the election of new directors and the re-approval of the Omnibus Equity Incentive Plan.

The changes approved during this meeting, particularly the amendment to increase the quorum threshold for shareholder meetings to 33-1/3%, are crucial for aligning the company with U.S. national exchange requirements. This strategic move aims to broaden investor outreach and enhance Power Metallic's visibility in the marketplace.

CEO Terry Lynch expressed appreciation for shareholders' ongoing support, noting, "The approval of the amendment to our Articles is a pivotal step toward our expansion into a larger investor community. With promising high-grade results from the Lion Zone and a series of upcoming developments, we anticipate a fruitful journey ahead for the Company."

The anticipated MRE and PEA further signify the company's intentions to bolster its operational capabilities and explore deeper market avenues. This dual focus on exploration and administrative advancements is expected to position Power Metallic favorably in both local and international markets.

The Path Forward

As Power Metallic continues its exploration efforts, upcoming assay results from their summer drilling program promise to unveil more about the low-grade but expansive mineral structure at the Lion and Tiger zones. The exploration strategy indicates an approach that builds upon previous successes, aiming for a comprehensive understanding of the mineral-rich basins and their economic viability.

In conclusion, Power Metallic Mines is not only making strides in exploration but also in corporate governance, setting a robust foundation for future growth. Investors and stakeholders alike can keep an eye on the company as it prepares for what could be a promising phase in its journey towards establishing one of Canada’s next polymetallic mines.