Nisk Project's Lion Deposit: Positive Metallurgical Study Update

Power Metallic Mines Inc. reported positive preliminary metallurgical study results on the Lion deposit at its Nisk Project in Quebec. The study indicates good recoveries of copper sulphides and suggests good recovery potential for platinum group elements, gold, silver, and nickel. Additional testing may be done for rare earth minerals. The metallurgical tests are expected to take 14 weeks to complete, with final reporting not expected before January 2026.

Power Metallic Mines Inc. (PMI) has announced the commencement of metallurgical testing on the Lion deposit at its Nisk Project in Quebec. The testing, contracted to SGS Canada Inc., aims to assess the recovery potential of various minerals, including copper sulphides, platinum group elements (PGE), gold, silver, and nickel. The metallurgical tests are expected to take approximately 14 weeks to complete, with final results anticipated by January 2026.

The Lion deposit consists of two zones: a High-Grade (HG) zone and a lower grade Hanging-wall Zone (LG). The HG zone, which contains semi-massive to massive copper sulphide mineralization, is believed to hold the majority of the deposit's metal value. The metallurgical testing will involve composite samples from both zones, with an emphasis on understanding the recovery potential of the principal metals.

Power Metallic has chosen SGS Canada Inc. for its extensive experience in flotation metallurgical testing. The company plans to conduct compositing and flotation studies in Quebec City, while analyses and environmental testing will be carried out in Lakefield, ON. The initial metallurgical tests will focus on determining the recovery potential of the six principal metals for each zone and the blended composite. Additional testing for rare earth minerals may be conducted if initial mineralogy suggests potential economic concentration.

The metallurgical tests are a crucial step in derisking the development of mining projects and in meeting the requirements for NI 43-101 reporting on the resource and its economic potential. While Power Metallic has no immediate plans to produce a NI-43-101 resource report, the results of this study will enable independent analysts to utilize appropriate resource recovery numbers for economic valuations.

Power Metallic is a Canadian exploration company focused on advancing the Nisk Project Area towards becoming Canada's next polymetallic mine. The company secured an option to earn up to 80% of the Nisk project from Critical Elements Lithium Corp. and has since expanded its mineralization at the Nisk and Lion discovery zones.