Power Metallic Mines continues exploration as resource estimate timing shifts

Power Metallic Mines Inc (TSX-V:PNPN, FRA:IVV1, OTCQB:PNPNF) announced that the merchandise of its anticipated 2026 Mineral Resource Estimate (MRE) for the combined Nisk and Lion discoveries astatine its polymetallic Nisk task successful Quebec has been delayed until the extremity of August owed to scheduling constraints astatine the consulting engineering steadfast preparing the report.

The institution said it learned precocious past week that the engineering firm, which already has the accusation required from Power Metallic, has experienced delays successful unit availability due to the fact that of concurrent workloads crossed aggregate projects.

Despite the delay, Power Metallic said exploration activities proceed astatine its project, with 5 drill rigs presently operating. The institution expects to statesman releasing assay results from its summertime drilling programme successful September, with further results expected passim the fall.

Power Metallic besides said it expects results from the Squid survey and aboriginal findings from the Muon geophysical programme to beryllium incorporated into its autumn exploration programme pursuing the Moose Break, which runs from September 15 to October 15, 2026.

On the firm front, the institution said it continues to beforehand its exertion for a Nasdaq listing aft shareholders approved updates to definite charter documents astatine its yearly wide gathering connected June 30.

Separately, Power Metallic announced it has granted 11.3 cardinal inducement banal options to directors, officers and consultants nether its banal enactment plan. The options person an workout terms of C$1.25 per communal stock and presumption ranging from 2 to 5 years, depending connected the idiosyncratic grant.

The institution besides granted 650,000 deferred stock units (DSUs) to its directors. The DSUs volition beryllium settled erstwhile a subordinate ceases to service arsenic a director, taxable to TSX Venture Exchange policies.

In addition, Power Metallic disclosed that Toronto-based Red Cloud Securities has continued to supply marketplace stabilization and liquidity services for the company's shares nether an existing engagement that began successful July 2023.

Under the agreement, Red Cloud receives C$7,000 per month, payable quarterly successful advance, to commercialized the company's shares with the purpose of maintaining an orderly marketplace and improving liquidity. The statement whitethorn beryllium terminated by either enactment with 30 days' written announcement and remains taxable to TSX Venture Exchange filing requirements. The institution noted that portion Red Cloud is astatine arm's length, the steadfast oregon its clients whitethorn clasp nonstop oregon indirect interests successful Power Metallic's securities.