Hopkins Rare Earths Project Acquisition and Exploration

planned

Powermax Minerals has entered into an option agreement to acquire a 100% interest in the Hopkins Rare Earths Project in northern Ontario, covering approximately 5,900 hectares. The project is located in the Clay-Howells alkalic-carbonatite complex and will undergo a phased exploration program including mapping, geochemical sampling, radiometric surveys, and airborne geophysics. The option agreement includes cash payments and work commitments over three years, with a 2% net smelter returns royalty subject to a buyback option.