Power Metallic Expands the Tiger Zone – First Indications of Lion Style Copper Dominant Mineralization at Tiger

TORONTO, April 17, 2025 – Power Metallic Mines Inc. (the “Company” or “Power Metallic”) (TSX-V: PNPN) (OTCBB: PNPNF) (Frankfurt: IVV) is pleased to announce the return of 4 holes from the winter 2025 drilling campaign focused on the Tiger Zone. The four holes (PN-25-098, 099, 101, 102) were testing off-hole EM (BHEM) anomalies generated from previously reported drill holes PN-24-090 and 094 (news release March 25, 2025). All holes hit Lion style polymetallic mineralization (copper dominant) at shallow vertical depths from 50-100 meters below surface (Table 1).

Power Metallic has been exploring multiple zones during the winter 2025 campaign, including the Lion Zone, Nisk Zone, Nisk East Zone, and Tiger Zone (Figure 1). The targets of the winter drilling extends over approximately 8km of strike of favorable stratigraphy. Assay results are beginning to come in on all zones, and this news release is focused on the Tiger Zone located approximately 700m east of the Lion Zone (Figure 1).

TIGER ZONE DRILL RESULTS

The discovery of the Tiger Zone (PN-24-094) was followed up in the winter 2025 campaign with BHEM surveying on the drill holes then available in the Tiger area (PN-24-088, 089, 090, 094). The resulting off-hole EM anomalies were drilled and all hit mineralization (Figure 2).

Tiger currently remains the smallest mineralized zone along the Nisk trend but retains good potential for a significant polymetallic discovery. For the drill holes reported here weak mineralization consistent with Lion style polymetallic mineralization was intersected in holes PN-25-098 and 101, but significant Lion style mineralization was intersected in holes PN-25-099 and 102 (Table 1).

Hole PN-25-099 is the first indication at Tiger of broader widths of a Lion style polymetallic zone (14.3 meters @ 0.96% CuEqRec1 including 6.0 meters @ 1.84% CuEqRec1). This intersection appears to be an up plunge extension of mineralization in hole PN-24-094. Hole PN-25-102 had a narrow Lion style zone, but the high grade tenor of the Cu dominant mineralization (1.00 meter at 6.37% CuEqRec1) in this hole is similar to the high grade Lion Zone.

The very shallow depths of these intersections (40-60 meters below surface), and the +300m distance along strike between the holes provides a large untested area for additional exploration. BHEM completed on these four holes has defined multiple off-hole EM anomalies (Figure 3) that will help direct future exploration in this area when Power Metallic returns following spring breakup.

UPCOMING EXPLORATION RESULTS

Commenting on the results to-date at Tiger, CEO Terry Lynch stated “As a stand-alone prospect, Tiger is becoming increasingly compelling. It’s not yet at Lion’s level, but recent results show clear promise. With operations paused for the annual goose hunt, we’re reviewing new drill data, re-evaluating geophysics, and preparing Tiger, Lion, and our other zones for a major ramp-up this summer with six rigs.”

In the coming weeks drilling results from the remaining 20 drill holes completed in the winter 2025 program will be logged, sampled and assayed. It is anticipated that assay for 4 holes from the Lion Zone (holes PN-25-096, 097, 100, and PML-25-001) will be available for release by next week. This will be followed by further Lion drill results in the coming weeks, and results from Nisk and Nisk East drill holes as well as two additional exploration holes in the Tiger area.

The winter 2025 drilling campaign has ended for the season, with expected restart of drilling in late May. This shutdown is to transition from winter drilling conditions to summer, allowing the land to dry out prior to restart. During the shutdown, the core facility at Nisk will be doubled to accommodate up to six drills.

The shutdown also coincides with respecting the annual goose hunt held every spring by the indigenous Cree nations. In support of the Cree hunting culture Power Metallic participated with 15 other mining and exploration companies in providing a financial contribution totalling $750,000 for the Reconstruction Initiative Forest Fires Fund 2023 (“RIFFF”). In 2024, 50 cabins damaged in the 2023 forest fires were rebuilt, and a further $200,000 will be used to continue the cabin rebuild process in 2025.

Figure 1: Location map of 2025 target areas highlighting the Tiger Zone area with drill results reported in this news release

Figure 2: Long section of drilling in the Tiger area highlighting the holes referred to in this news release for Tiger Zones

Figure 3: BHEM off-hole anomalies in the Tiger area for testing when drilling resumes in May (spring, summer campaign)

Table 1: Significant assay results from this news release – Tiger Zone

Significant assay from Tiger Area – Holes PN25-098, 099, 101, 102
Hole	From	To	Length	Au	Ag	Cu	Ni	Pd	Pt	Co	CuEq Rec 1
	(m)	(m)	(m)	(g/t)	(g/t)	( %)	( %)	(g/t)	(g/t)	( %)	( %)
PN-25-098	89.00	91.00	2.00	0.03	2.20	0.33	0.13	0.28	0.13	0.02	0.77
and	123.50	124.70	1.20	0.01	3.70	0.21	0.12	0.12	0.03	0.01	0.53
PN-25-099	73.90	75.90	2.00	0.02	1.35	0.20	0.34	0.55	0.04	0.02	1.16
and	88.70	103.00	14.30	0.05	4.38	0.54	0.15	0.26	0.06	0.01	0.96
Including	88.70	94.70	6.00	0.12	8.53	1.11	0.26	0.46	0.12	0.02	1.84
PN-25-101	68.85	70.85	2.00	0.02	1.40	0.22	0.28	1.40	0.16	0.02	1.38
PN-25-102	40.50	41.50	1.00	0.26	22.70	4.45	0.47	3.66	0.24	0.03	6.37

Note: Reported length is downhole distance; true width based on model projections is estimated as 85% of downhole length

Previously released drill results are available in a public database accessible as a download on Power Metallic’s website. Currently this database contains hole assay and collar information up to hole PN-24-75 but will be updated soon with all remaining publicly released holes.

¹ Copper Equivalent Rec Calculation (CUEqRec¹)
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 a recovery grade of 80% for all commodities, consistent with comparable peers.

Qualified Person
Joseph Campbell, P.Geo, VP Exploration at Power Metallic, is the qualified person who has reviewed and approved the technical disclosure contained in this news release.

About Power Metallic Mines Inc.

Power Metallic is a Canadian exploration company focusing on developing the High-Grade Nickel Copper PGM, Gold and Silver Nisk project into Canada’s next polymetallic mine.

On February 1, 2021, Power Metallic (then called Chilean Metals) completed the acquisition of its option to acquire up to 80% of the Nisk project from Critical Elements Lithium Corp. (TSXV: CRE).

The NISK property comprises a large land position (20 kilometres of strike length) with numerous high-grade intercepts. Power Metallic is focused on expanding the high-grade nickel-copper PGM, Gold and Silver mineralization with a series of drill programs designed to evaluate the initial Nisk discovery zone, the Lion discovery zone and to explore the land package for adjacent potential poly metallic deposits.

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