Power Metallic Closes on Li-FT Power Land Acquisition

Core Viewpoint - Power Metallic Mines Inc. has successfully acquired a 100% interest in 313 mineral claims totaling 167 km² from Li-FT Power Ltd, expanding its land holdings in the Nisk Project Area, which is known for high-grade mineral discoveries [1][7]. Acquisition Details - The acquisition includes a cash payment of $700,000 and the issuance of 6,000,000 common shares, with specific hold periods for the shares as per Canadian securities laws [2]. - Li-FT retains a 0.5% Net Smelter Return (NSR) on the acquired claims, and some claims have underlying royalties and buy-back rights from previous agreements [2]. Company Growth and Strategy - Power Metallic now controls approximately 212.86 km² in the Nisk camp, which includes significant strike lengths on both the northern and southern margins of the basin [1][7]. - The company is focused on advancing the Nisk Project Area, which includes the Nisk, Lion, and Tiger discoveries, and is actively expanding mineralization through drilling programs [6][8]. Financial Reporting Updates - For the recently completed Q2 ended June 30, 2025, the company will reclassify certain investor relations expenses to provide clearer financial reporting, with no impact on previous financial statements [5]. Administrative Changes - Power Metallic has appointed MNP LLP as its new auditor to support its growth and potential listings on senior stock exchanges [4]. Additional Interests - Beyond the Nisk Project Area, Power Metallic has indirect interests in significant land packages in British Columbia and Chile through its 50% ownership in Chilean Metals Inc. [9]. - The company also owns 100% of Power Metallic Arabia, which holds an exploration license in Saudi Arabia's Jabal Said Belt, recognized for its high prospectivity for copper, gold, and zinc [10].