Power Metals Corp.

Power Metals Corp. is a junior lithium exploration company headquartered in Vancouver, Canada, operating primarily in Canada. The company's portfolio consists of 1 exploration project, in addition to several early-stage exploration prospects. Key assets include Case Lake. The company is an exploration entity engaged in the acquisition and exploration of resource properties. Its business model is centered on a systematic exploration methodology that utilizes a specific geological model, involving the identification of dome-like structures, to target mineralization. Operational activities include multi-phase drilling programs, geological mapping, and advanced geophysical surveys to delineate and expand mineralized zones. A key aspect of its operational approach is the early-stage de-risking of assets through comprehensive metallurgical testing. This includes engaging specialized firms to conduct ore sorting trials using X-ray transmission technology and hydrometallurgical test work to assess recovery potential and produce high-grade concentrates. The enterprise's exploration efforts have identified geological settings where multiple valuable minerals co-exist within the same pegmatite dyke structures, offering potential operational synergies. The company's principal activity remains resource exploration and development, with a focus on advancing properties through systematic evaluation to demonstrate potential commercial viability.

Strategic priorities are focused on advancing the company's primary asset toward economic validation through systematic exploration and technical studies. A key initiative involves a multi-phase drilling strategy designed to infill and expand known mineralization in preparation for a maiden Mineral Resource Estimate (MRE) and a subsequent Preliminary Economic Assessment (PEA), for which it has engaged DRA Global to complete in 2025. The enterprise employs advanced exploration techniques, including high-resolution airborne magnetic and LiDAR surveys, to identify new prospective targets and enhance its geological understanding. A forward-looking strategy includes securing an Advanced Exploration Permit to facilitate the excavation of a bulk sample for extensive metallurgical testing. The organization maintains strategic flexibility, having previously formed a committee to review options such as joint ventures or the potential sale of its property. Growth strategy also includes the acquisition of new exploration projects, demonstrated by an agreement to acquire the Decelles and Mazerac properties. The company actively aligns its development with government priorities by engaging with authorities on critical minerals strategies and seeking support through programs like the Ontario Junior Exploration Program.

Executive leadership experienced a transition on February 13, 2024, with the appointment of Mr. Haydn Daxter as CEO, who was subsequently appointed as a director on March 7, 2025. The management's operational philosophy relies on leveraging specialized external expertise for key technical functions. This is evidenced by the engagement of multiple third-party contractors for drilling campaigns (Major Drilling, Black Diamond Drilling), airborne surveys (Precision GeoSurveys), and advanced metallurgical programs, including ore sorting (Tomra) and chemical analysis (SGS Canada). A core tenet of the management approach is a commitment to high-quality data generation, demonstrated by rigorous Quality Assurance/Quality Control (QA/QC) protocols. These procedures involve the systematic insertion of external quartz blanks, certified standards, and core duplicates into the sample stream, with all analyses performed at ISO 17025 certified laboratories. Governance is further supported by the formation of a specialized advisory committee to provide guidance on the development path for a key commodity, reflecting a focused approach to maximizing asset value.

Sustainability practices are centered on regulatory compliance and proactive environmental monitoring. The organization has secured a multi-year early exploration permit from provincial authorities, a process which mandates adherence to established environmental standards and stakeholder consultation. As part of its operational planning, the company completed a 2024 environmental analysis schedule which incorporated specific activities such as water sampling and hydrological flow meter analysis to establish baseline data and monitor conditions. Management engages with government bodies on the development of its assets, aligning its activities with national critical minerals strategies. The enterprise's risk management framework acknowledges the importance of compliance with extensive federal, provincial, and local environmental laws and regulations for all exploration and potential development activities. This commitment to environmental stewardship is integral to the company's process for advancing its projects from exploration to potential development.

The corporate structure has undergone significant evolution through a series of strategic transactions. In December 2022, Winsome Resource Limited acquired 7,500,000 common shares, 7,500,000 warrants, and associated offtake rights from Sinomine Resource Group Ltd. for a cash consideration of CAD$2,000,000. This transfer was a response to a Canadian government directive regarding foreign ownership in critical minerals companies and established a related-party relationship, as a former director of the company was also a director of Winsome. Building on this relationship, the company entered into an agreement during the 2023 fiscal year to acquire a 100% interest in Winsome’s Decelles and Mazerac projects, with the consideration being 17,650,000 common shares of the company. This transaction remains subject to final exchange acceptance. To fund its activities, the company also executed a structural financing arrangement during the 2023 fiscal year, selling a 2% gross overriding revenue royalty for proceeds of $1,500,000. These actions reflect a strategy of securing strategic partnerships and optimizing its asset portfolio and capital structure.