Power Metallic Mines (PNPN) investor relations material

Lion discovery and resource

• Lion intervals typically exceed 25 m at double-digit copper-equivalent grades, with cited profiles from 11% to nearly 13%; mineralization remains open in all directions.

• The recent MRE covers Lion from surface to ~610 m and reports just over 300,000 contained tons; holes 125 and 128 extend to 900 m true vertical and were pending assays.

• Recent deep results included 5 m at ~5% copper equivalent and 5.7 m at 14%; drilling is planned toward 1,200 m, which management expects to expand the resource.

• Two rigs were drilling deep at Lion, with additional rigs planned after moose hunting season; Black Panther was identified as an early-stage discovery.

Project economics and metallurgy

• The recent 43-101 estimate indicated CAD 200 million to reach production, with a projected payback of ~1 year after production starts; most high-grade tons are planned for initial open-pit mining.

• Federal and Quebec tax credits and abatements were described as covering 55% of project costs; management cited high recoveries and low capital needs.

• SGS metallurgy results showed copper recovery near 99%, platinum and palladium in the mid-to-high 90s, and gold and silver in the mid-to-high 80s, with metals reporting to one copper concentrate.

• An SGS study due in ~7 weeks will assess combining nickel-rich Nisk Main ore with copper-rich Lion ore; a favorable outcome could support revised resource and economics work and renewed Nisk Main drilling.

Exploration and district potential

• Land holdings expanded from ~43 sq km to more than 300 sq km; eight major targets were identified, with seven controlled and discussions ongoing for the eighth.

• Muon surveys are being tested using tools placed in four holes to ~900 m; initial results are expected to validate the technology and guide Lion drilling, then support wider exploration targeting.

• Muon may help connect separate mineralized zones excluded from the current MRE; management cited a ~14 km mineralization corridor for further investigation.

• Management expects near-term assays from Lion Deep and Black Panther; the planned PEA will incorporate drilling data through fiscal year-end, compared with the MRE data cutoff of April 17.