Toronto, ON – December 2, 2025 – Power Metallic Mines Inc. (TSXV: PNPN) is making significant waves in the mining sector, announcing a substantial extension of high-grade polymetallic mineralization at its Nisk project in Quebec, Canada. Recent drill results from its ambitious summer program have not only confirmed the continuity of exceptional grades but also significantly expanded the project's resource potential, positioning Nisk as a pivotal player in the burgeoning global demand for critical minerals and precious metals. This development comes amidst a robust market for these commodities, underscoring the strategic importance of secure, high-quality supply chains from stable jurisdictions.

The company's latest disclosures, as of December 2, 2025, highlight the Nisk project's growing significance, particularly within the high-grade Lion Zone. With an aggressive, fully funded drilling campaign through 2026 and strategic land acquisitions, Power Metallic Mines is rapidly advancing towards establishing Nisk as a world-class polymetallic mine, potentially becoming Canada's first carbon-neutral nickel producer.

Detailed Coverage: Summer Drilling Program and Strategic Growth

Power Metallic Mines embarked on an extensive summer 2025 drilling program at its Nisk project, commencing on June 9, 2025, with the mobilization of drillers (RJLL Forage Drilling) and helicopter support (Expedition). The program, which deployed multiple drill rigs and expanded logging and core cutting facilities, focused on delineating and extending the high-grade mineralization, particularly in the Lion Zone, and exploring the broader 5.5-kilometer corridor between the Nisk and Lion discoveries. By mid-September 2025, the summer campaign had completed 34 holes, totaling 17,250 meters. Borehole Electromagnetic (BHEM) surveys, conducted by Geophysique TMC, were integral, successfully identifying off-hole anomalies that guided further exploration.

The assay results from the summer 2025 campaign, primarily targeting the Lion Zone, have been nothing short of spectacular. Key intercepts reported as of December 2, 2025, include:

• Hole PML-25-029b (Lion Zone): 4.40 meters grading 12.18% copper (Cu) (14.34% Copper Equivalent Recovered, CuEqRec) within a broader intersection of 20.40 meters grading 2.91% Cu (3.58% CuEqRec).
• Hole PML-25-025 (Lion Zone): 1.59 meters grading 27.92% CuEqRec within 19.8 meters grading 2.71% CuEqRec.
• Hole PML-25-31 (Lion Zone): An extensional intersection on the west side of Lion yielded 2.65 meters grading 17.79% CuEqRec within 8.10 meters grading 7.13% CuEqRec. These results build upon previous exceptional high-grade nickel-copper-PGE drill results from June and November 2025, consistently demonstrating the robust nature and significant size of the interpreted high-grade lodes within the Lion zone.

The timeline leading to these discoveries began in February 2021 when Power Metallic Mines (then Chilean Metals) secured an option for the Nisk project from Critical Elements Lithium Corp. (TSX-V: CRE). The Nisk project quickly gained traction, with the high-grade Lion Zone emerging as a "motherlode of copper." A pivotal strategic move occurred on June 9, 2025, with the acquisition of 313 mineral claims, totaling 167 km², from Li-FT Power Ltd. (TSXV: LIFT). This acquisition, which closed on July 14, 2025, dramatically expanded Power Metallic's land package by over 300% to approximately 212.86 km², securing a crucial 50 km of prospective basin margins encompassing the Nisk, Lion, and Tiger discoveries. Preliminary metallurgical studies are also underway by SGS Canada Inc., with initial mineralogy suggesting favorable PGE enrichment.

Key players driving this success include CEO Terry Lynch, VP Exploration Joseph Campbell, P.Geo, and VP Investor Relations Duncan Roy. The company's board has been strengthened by the addition of former federal minister Seamus O'Regan. Power Metallic has also attracted significant financial backing, securing C$50 million in funding through 2026 from high-net-worth investors, including 15 billionaires such as Robert Friedland (Ivanhoe Mines), Rob McEwen (McEwen Mining), and Gina Rinehart (Hancock Prospecting). Despite the "pinch-yourself grades," initial market reactions have been somewhat mixed, with shares reportedly edging down slightly in November 2025, attributed to operational hurdles and site access issues rather than the quality of the discoveries. However, the strong financial backing and strategic investor confidence underscore the long-term potential.

Company Impact: Power Metallic Mines Poised for Growth, Industry Watchful

The continued extension of high-grade mineralization at the Nisk project is set to profoundly impact Power Metallic Mines (TSXV: PNPN), significantly enhancing its future prospects, resource estimates, and financial outlook. For the broader gold, silver, and critical minerals mining exploration sector, this development serves as a compelling case study, potentially drawing increased investor attention and capital.

For Power Metallic Mines, the implications are overwhelmingly positive. The consistent reporting of exceptional high-grade nickel, copper, PGEs, gold, and silver within the Lion Zone bolsters the project's resource growth trajectory. Current estimates of 15-20 million tons are projected to grow to 45 million tons by the end of 2025, with a long-term potential of 140 million tons, a scale comparable to world-class deposits like Voisey's Bay. This substantial increase in potential tonnage is expected to significantly enhance the company's valuation. The aggressive 100,000-meter drilling program, fully funded through 2026, is specifically designed to expedite the delivery of a robust initial Mineral Resource Estimate (MRE) for the Lion Zone in the first half of 2026, aiming to define zone geometry to an Indicated Resource classification. The project's exceptional grades are also expected to drive strong economics, with projections suggesting rapid payback periods and development timelines, making Nisk highly attractive for future development. The C$50 million in funding secured from prominent investors, even in a challenging mining finance market, reflects strong confidence. Power Metallic's strategic location in Quebec, a Tier-1 mining jurisdiction with access to green hydropower and tax credits, further de-risks the project. The company's ambition to become Canada's first carbon-neutral nickel mine aligns with global sustainability trends and the "Fortress America" policy, emphasizing secure and ethical sourcing of critical minerals. Power Metallic was also recognized as a top performer on the TSX Venture Exchange, named to the 2025 TSX Venture 50 list, acknowledging its substantial market capitalization growth and share price appreciation. The company is also advancing its application for a listing on the NYSE, which could further boost its visibility and access to capital.

While Nisk is primarily a polymetallic discovery, its success can have a beneficial ripple effect on the broader mining exploration sector, including gold and silver. Successful high-grade discoveries tend to invigorate investor confidence in junior mining exploration companies as a whole, demonstrating the potential for significant returns. This renewed interest can attract capital that might then flow into other promising exploration plays, including those focused on gold and silver. The broader commodity market context as of December 2025 is also favorable: nickel is expected to see robust growth driven by EV battery demand, while gold and silver are in a bull market phase due to macroeconomic factors like falling interest rates, inflation concerns, and strong central bank demand. Gold recently broke the $4,000 mark, and silver reached a record high of $54.38 per ounce in November 2025, driven by a structural supply deficit and surging demand from renewable technologies. The strategic importance of North American critical mineral projects under policies like "Fortress America" could also lead to increased funding for domestic exploration across various metals, indirectly benefiting gold and silver projects as investors seek diversification.

Wider Significance: A North American Critical Minerals Powerhouse

Power Metallic Mines' continued success at its Nisk project holds profound wider significance for the mining industry, particularly within the critical minerals and precious metals sectors. This event is unfolding amidst a global push for electrification, increasing geopolitical competition for resources, and evolving regulatory landscapes, positioning Nisk as a potentially transformative asset in North America.

The Nisk project, with its high-grade nickel, copper, PGEs, gold, and silver, directly addresses the escalating global demand for critical minerals essential for the clean energy transition and electric vehicle (EV) adoption. While the overall nickel market may see surpluses, Nisk's high-grade nickel sulfide mineralization is particularly valuable as the market faces persistent tightness in the supply of high-purity, Class I nickel required for EV batteries. The project's exceptional copper grades are also pivotal, given copper's indispensable role in renewable energy infrastructure. The polymetallic nature, including precious metals like platinum, palladium, gold, and silver, further enhances Nisk's economic viability and strategic importance, aligning with new demands for these metals in green technologies and their traditional role as safe-haven assets amidst global instability.

The ripple effects of Nisk's success are multi-faceted. For Power Metallic Mines, the aggressive land package expansion (over 300% to approximately 212.86 km²), coupled with the fully funded 100,000-meter drill program, aims to establish Nisk as Canada's next polymetallic mine. This could lead to early-stage modeling and metallurgical studies confirming high recovery rates, de-risking the project and attracting further investment. For competitors, a significant new high-grade discovery in Quebec could intensify competition in the critical minerals sector, prompting increased exploration in similar geological settings or driving strategic partnerships. Major mining companies seeking to secure critical mineral supply chains will be closely watching, as new high-grade discoveries in politically stable jurisdictions like Canada are increasingly rare. Partners and investors, including the influential group of billionaires already backing the company, are likely to increase their engagement, especially as Nisk's potential as a carbon-neutral nickel mine aligns with growing ESG investment trends.

Regulatory and policy implications are also significant. Nisk's advancements align perfectly with Canada's Critical Minerals Strategy, which prioritizes exploration, mine development, and value-added processing. Quebec offers generous tax credits and access to low-carbon hydropower, supporting the project's carbon-neutral ambitions. The Canadian federal government's 2025 budget includes comprehensive support for the sector, aiming to reduce reliance on foreign supply. However, there's also increasing scrutiny of foreign ownership of critical resources under the Investment Canada Act, potentially influencing Power Metallic's financing and partnership strategies. The project also plays into the broader North American integration efforts, strengthening continental supply chains with the U.S. and reducing reliance on less stable sources.

Historically, major polymetallic discoveries like the Sudbury Basin in Ontario (nickel-copper-PGE) and Voisey's Bay in Labrador (nickel-copper-cobalt) have transformed Canada into a global mining powerhouse. While Nisk is a more recent discovery, its high-grade, polymetallic nature in a geopolitically stable jurisdiction draws parallels to these historical precedents. The scarcity of major nickel discoveries in recent decades makes Nisk's high-grade extension particularly significant, as it represents a rare replenishment of potential supply for much-needed critical minerals.

What Comes Next: Charting a Course for a Critical Minerals Future

The future for Power Metallic Mines and its Nisk project is poised for a dynamic period of intensive exploration, technical de-risking, and strategic positioning. Both short-term objectives and long-term aspirations are geared towards establishing Nisk as a globally significant critical minerals operation.

In the short-term (next 12-18 months), Power Metallic will continue its aggressive 100,000-meter drilling campaign, funded through 2026. This program, utilizing multiple drill rigs, is focused on rapidly expanding and delineating the mineralization at the Lion, Tiger, and Nisk Main/East/West zones. A crucial milestone will be the delivery of a Mineral Resource Estimate (MRE) for the Lion Zone in the first half of 2026, which will be vital for demonstrating the project's economic viability. Concurrently, Phase 1 metallurgical testing for the Lion deposit by SGS Canada Inc. is underway, with full results expected by early 2026. These studies are essential for determining recovery rates of the various metals, directly impacting project economics. The company will also continue advanced geophysical surveys and leverage its recently consolidated land package, including the newly acquired 'Hydro Lands,' to refine exploration targets.

Looking further ahead (beyond 18 months), the long-term vision is to advance the Nisk project towards production, with the ambition of developing "Canada's next polymetallic mine" and Quebec's first carbon-neutral nickel mine. CEO Terry Lynch envisions substantial resource growth, potentially reaching 140 million tons, a scale comparable to world-class deposits. The project's "polymetallic supergiant" potential, featuring multiple mineralized zones, offers robust economics due to diversified revenue streams. Power Metallic is also exploring value-added processing, such as a partnership with CVMR Corporation for nickel powder production, which could significantly enhance profitability. While the focus remains on exploration, management is strategically open to eventual partnerships or a sale to a major mining company, potentially retaining partial ownership to capitalize on the project's exceptional economics.

Strategic pivots and adaptations will be crucial. Substantial capital will be required as the project transitions from exploration to advanced development and production, necessitating efficient capital management and continuous fundraising. The successful outcome of metallurgical test work is paramount for de-risking the project. Infrastructure development in the remote James Bay region of Quebec will be a significant undertaking, though access to a highway and green hydropower are advantages. Adhering to its carbon-neutral goal will demand robust Environmental, Social, and Governance (ESG) strategies. Maintaining positive community relations and navigating complex permitting processes will also be critical.

The Nisk project is strategically positioned within the dynamic critical minerals market, benefiting from the global energy transition and the burgeoning EV industry. Its location in Quebec offers a secure, domestic source of critical minerals for North America, aligning with "Fortress America" policies. The polymetallic nature provides economic resilience, and the favorable geopolitical climate could lead to long-term supply contracts at premium pricing. Should Nisk achieve its projected potential, it would play a crucial role in diversifying the global supply of essential metals like nickel, copper, PGEs, and cobalt, providing a reliable source from a geopolitically stable and environmentally conscious jurisdiction. A successful, carbon-neutral operation could also set new industry standards for sustainable mining, bolstering North American self-sufficiency in critical minerals.

Comprehensive Wrap-Up: Nisk's Enduring Impact on the Mining Frontier

Power Metallic Mines Inc.'s (TSXV: PNPN) persistent success in extending high-grade polymetallic mineralization at its Nisk project in Quebec marks a pivotal moment for the company and resonates deeply across the global mining landscape. The robust drill results from the summer 2025 program, confirming exceptional grades of nickel, copper, PGEs, gold, and silver within the Lion Zone, underscore Nisk's potential as a "polymetallic supergiant" and a cornerstone asset for the critical minerals supply chain.

The key takeaways from these developments are clear: Nisk is a rapidly expanding, high-grade discovery in a premier mining jurisdiction. The aggressive 100,000-meter drilling program, coupled with strategic land acquisitions, demonstrates a clear pathway to substantial resource growth, with projections reaching up to 140 million tons. Initial metallurgical testing suggests favorable recovery rates, further de-risking the project. These advancements position Power Metallic Mines as a significant future supplier of essential metals crucial for the global energy transition and advanced technologies.

Moving forward, the market for critical minerals and precious metals is expected to remain exceptionally strong. The relentless demand for electrification and electric vehicles will continue to drive prices and investment in battery metals like nickel, copper, and cobalt. Geopolitical tensions and supply chain vulnerabilities will further emphasize the strategic importance of secure, domestic sources from stable regions like North America. Simultaneously, gold and silver are set for continued bullish performance, supported by macroeconomic factors such as inflation concerns, declining real yields, and strong central bank demand, solidifying their role as safe-haven assets and industrial components. The Nisk project, with its polymetallic diversity, is uniquely positioned to capitalize on both these powerful market trends.

The lasting significance of Power Metallic's Nisk project lies in its potential to address the urgent need for secure, high-purity critical minerals. As governments and industries prioritize resilient supply chains, a high-grade, carbon-neutral polymetallic mine in Canada would be a strategic asset of immense value. It reinforces Canada's role as a reliable and ethical source of essential resources, aligning with national security and economic development objectives. The project's success could also inspire further exploration and investment in similar geological settings, potentially catalyzing new discoveries across North America.

Investors should closely watch several key developments in the coming months. For Power Metallic Mines (TSXV: PNPN), continued drill results, particularly from the newly acquired 'Hydro Lands' and infill drilling, will be crucial. The announcement of an updated NI 43-101 compliant Mineral Resource Estimate for the Lion Zone will be a major catalyst, as will further updates on metallurgical test work. Furthermore, any news regarding the company's application for a listing on the NYSE could significantly enhance its market visibility and liquidity. In the broader mining sector, investors should monitor global EV sales, critical mineral demand trends, commodity price movements, geopolitical developments, and the ongoing shift towards sustainable and ethical mining practices. Power Metallic Mines' journey with Nisk will be a compelling narrative in the evolving landscape of critical minerals and precious metals.

This content is intended for informational purposes only and is not financial advice