Lion Zone Drilling Continues Defining The High-Grade

TORONTO – Power Metallic Mines Inc. reported on the drill program and the first hole of the Winter 2026 campaign. Drilling continued to define the high-grade Lion Zone in preparation for a 2026 Mineral Resource Estimate (MRE). The infill drilling on the Lion zone has shown that the interpreted zone geometry has high repeatability raising the confidence level for future mineral resource estimates to an Indicated Resource classification. Internally the Lion Zone drilling continues to surprise with very high-grade holes. Hole PML-26-049, the first hole of the 2026 winter drill campaign, was drilled to support the modelled interpretation of the Lion zone near surface. It resulted in the best copper intersection to date on the Lion Zone, intersecting massive to brecciated Cu sulphides over 16.55m @ 10.08% Cu (15.11% CuEqRec). This hole greatly expands the zone near surface that may be amenable to early open pit extraction in a possible future mining operation.
“Another very impressive set of results from the Lion Zone. The market certainly has not fully appreciated just how productive this discovery has become. Despite current analyst estimates, the very high metallurgical recoveries, and the ongoing high-grade assays at Lion, Power Metallic is still heavily discounted vis-a-vis our peers. To change this we will continue to deliver excellent results leading to a near term PEA, and keep communicating our positive message about the value and potential of our high-grade copper and precious metals discovery,” said, CEO Terry Lynch. “Coupled with PML-26-049, hole PML-25-047 also intersected the Lion Zone 100m west of PML-26-049 and confirmed the high-grade copper zone with 4.16m @ 4,15% Cu (6.80% CuEqRec), adding further support to the near surface potential mineralization. Deeper in the deposit hole PML-26-043 added 7.60m @ 7.30%CuEqRec1 within 18.00m of 3.18%CuEqRec1, expanding the deeper high-grade lode on the west side of the Lion deposit.”
Work continues to define and expand the strike and dip extents of the Lion Zone. The last hole of 2025 (PML-25-048) was designed to test the eastern side of the Lion Zone where previous drilling had indicated a narrowing of the zone. In contrast PML-25-048 returned a wide intersection of lower grade polymetallic mineralization (15.5m @ 0.89% CuEqRec), including 4.50m of 1.44% CuEqRec1. This hole supports the recent interpretation of shallow easterly plunging trends within the Lion zone that will require further follow-up drilling.