Power Metallic Extends Lion 25% Deeper as Power Metallic Intercepts 5.70 Meters of 14.00% CuEqRec¹ in Hole 26-125

Power Metallic Mines Inc . (the "Company" or "Power Metallic" ) is pleased to provide the first assays of extensional deep drilling of assay results from its Summer 2026 drill program. Prior to the summer drill program drilling concentrated on improving the density of drill intercepts for the recently announced MRE to increase the confidence of modelling Lion, particularly within the range of a potential future open pit, and to bring the vast majority of the known deposit as of the end of the winter program (end April 2026) to Drill Indicated category. For the summer drill program Power Metallic has carried out widely spaced exploration drilling on geological and geophysical (EM) targets and more importantly begun a program of extending the Lion deposit to depth below the outline of the MRE model. The two holes reported here are the first assays to be completed on this deep drilling. Hole PML-26-125 is the deepest assay results to date at Lion at a vertical depth of nearly 800m vertical depth, well below the current MRE. Prior to Hole PML-26-125 The deepest reported hole intersecting the core of the Lion shoot to date (PML-25-002) intersected 1.95 metres at 7.95% CuEqRec* at approximately 610 metres vertical depth. This hole was targeted on the projected center of the Lion plunge approximately 150m below the previous deepest hole and intersected 5.7m of massive to semi-massive copper sulphides (Table 1). An earlier drill hole, PML-26-121a targeted the western side of the projected plunge of Lion at a vertical depth of nearly 650 meters and intersected disseminated to semi-massive copper sulphides. A subsequent hole (PML-26-128) tested the eastern side of the interpreted Lion plunge at nearly 900 meters vertical depth, showing disseminated and massive veinlets of copper sulphides, with assays pending (Figure 1). All three of these holes firmly established that the Lion deposit continues at depth and has not been fully delineated. Table 1: Lion Results - Summer 2026 Hole From To Length Au Ag Cu Pd Pt Ni CuEq Rec* (m) (m) (m) (g/t) ( g/t ) ( %) (g/t) (g/t ) ( %) ( %) PML-26-121a 666.30 674.00 7.70 0.26 18.42 1.03 3.70 0.28 0.14 3.28 Including 666.30 671.00 4.70 0.35 28.37 1.51 6.45 0.45 0.14 4.92 Including 666.30 668.00 1.70 0.66 72.41 3.34 16.25 1.21 0.16 11.93 PML-26-125 845.80 851.50 5.70 0.30 61.57 11.42 2.48 0.26 0.41 14.00 Including 846.70 848.85 2.15 0.55 92.04 20.30 4.72 0.51 0.60 24.62 1 Copper Equivalent Rec Calculation (CuEqRec 1 ) 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 (see press release Jan 21, 2006). 2 Reported length is downhole distance; true width based on model projections is estimated as 85% of downhole length Power Metallic is expecting more assay results from the Lion deep drilling and regional exploration in the weeks to come. Terry Lynch, CEO of Power Metallic, commented : We are in the unique position due to the high grade and near surface nature of our project to advance development of what the world needs in Critical Minerals, namely Copper and PGEs, but also continue our multifaceted exploration approach to allow the resource to grow substantially between now and the end of 2027. Today's results pushed us over 25% deeper than the deepest hole used in our recently announced MRE and it did so with significantly higher grades. We have visibility down over 50% deeper and visibly it looks like we are still in the Lion Zone. As we have seen with t...