Power Metallic reports final Lion Zone drill assays at Quebec's Nisk project ahead of resource estimate

Power Metallic Mines Inc (TSX-V:PNPN, FRA:IVV1, OTCQB:PNPNF) reported last assay results from its Winter 2026 drill programme astatine the Lion Zone wrong its Nisk polymetallic task successful Quebec, completing the drilling information acceptable that volition enactment the archetypal NI 43-101 mineral assets estimation (MRE).

The institution expects to implicit and study the Lion and Nisk deposit MREs by the extremity of July. The assets estimates volition signifier the ground for a preliminary economical appraisal (PEA), which is scheduled to statesman instantly afterward.

The latest results are from infill drilling connected the eastbound broadside of the Lion Zone, aimed astatine expanding assurance successful the geological model, peculiarly wrong the imaginable limits of a aboriginal unfastened pit.

Among the highlights, drill spread PML-26-116 intersected 36.42 metres grading 2.83% copper equivalent from 84 metres, including 6 metres grading 12.38% copper equivalent. The institution noted the interval contained high-grade copper mineralization adjacent to surface.

Other reported results included spread PML-26-113, which returned 44.5 metres grading 0.75% copper equivalent, including 14.5 metres grading 1.7% copper equivalent and a higher-grade interval of 0.81 metres grading 21.39% copper equivalent. Hole PML-26-111 intersected 14 metres grading 0.96% copper equivalent, including 2 metres grading 3.36% copper equivalent.

Power Metallic noted that respective holes drilled on the eastbound borderline of the Lion Zone intersected the targeted mineralized operation but returned lower-grade assays, helping specify the bound for assets modelling. Additional holes betwixt the Lion and Tiger zones besides intersected the mineralized operation with anemic copper and palladium values.

The institution added that assay results from its ongoing summertime drilling program, including determination exploration targets, are expected successful the coming weeks.

Separately, shareholders approved each items presented astatine the company's June 30 yearly wide and peculiar gathering successful Toronto. The approved resolutions included the predetermination of directors, the reappointment of auditor MNP LLP, the reapproval of the omnibus equity inducement plan, and an amendment to the company's articles to summation the quorum threshold for shareholder meetings to one-third of outstanding shares.

Power Metallic indicated the quorum amendment is intended to align its governance with requirements expected for companies listed connected a US nationalist banal exchange. The institution stated it plans to instrumentality the amendment erstwhile its committee determines to proceed with pursuing specified a listing.