(MENAFN- Newsfile Corp) Toronto, Ontario--(Newsfile Corp. - November 3, 2025) - Powermax Minerals Inc. (CSE: PMAX) (OTCQB: PWMXF) (FSE: T23) (" Powermax " or the " Company ") is pleased to announce that it has entered into an option agreement (" Option Agreement ") pursuant to which it may acquire a 100% (" Option Arrangement ") interest in and to the Pinard Rare Earths project (" Project "), subject to a 1.5% net smelter returns royalty (" NSR ").

The Project is located in northern Ontario, Canada, roughly 70 km north-northeast of the town of Kapuskasing, and is defined by 255 contiguous mining claims spanning a total of 5178 ha. The mining claims and patents can be easily accessed by 4×4 pick-up truck using an all-weather access road.

The Pinard Intrusive Rock Complex is an Alkaline igneous host with rocks ranging from nepheline syenites and trachytes to peralkaline granites. These complexes usually occur in plate tectonic settings associated with rifts, faults, or hotspot magmatism (Sage, 1988). Early Precambrian aged formations like the Pinard Complex are typical of the Kapuskasing Sup-Province Geology and is similar to the Clay Howell Intrusive, which hosts a REE deposit 20 kilometres to the SW of the Pinard Property.

Under the terms of the Option Agreement, the Company may acquire the Project, subject to the NSR, by making the following cash and share payments to the optionors (" Optionors "):

Due Date	Common Share Payments	Cash Payment (CAD)
Upon signing the Option Agreement (" Effective Date ")	-	$18,000
Within 7 business days of receipt of approval from the Canadian Securities Exchange	160,000	-
On the 1st anniversary of the Effective Date	160,000	$16,000
On the 2nd anniversary of the Effective Date	-	$24,000
On the 3rd anniversary of the Effective Date	-	$32,000
Total	320,000	$90,000

The Company notes that the NSR is subject to a buyback right in favour of the Company, under which the Company may reduce the NSR to 1.0% by making a payment of $500,000 to the Optionors.

Planned Exploration Program

Proposed Phase 1 exploration program at the Pinard Rare Earths Project to evaluate and prioritize prospective zones across the property. The proposed first phase of work will include:

• Desktop Data Compilation and GIS Modeling: Integration of historical geological, geophysical, and geochemical datasets to refine exploration targets through advanced spatial and radiometric analysis.
• Field Prospecting and Geological Mapping: Systematic prospecting and detailed mapping to identify and characterize pegmatite zones, mineralized structures, and alteration patterns.
• Geochemical Sampling:
  • Rock Sampling
  • Soil Sampling
  • Stream Sediment Sampling
• Radiometric Surveys: Field measurements using handheld scintillometers to detect radiometric and pathfinder element anomalies across target areas.
• Airborne Geophysical Survey: high-resolution helicopter-borne magnetic and gamma-ray spectrometric survey.

The Phase 1 program is designed to integrate historical and new field data to identify priority targets.

The acquisition of the Project under the Option Arrangement, including the issuance of shares to the Optionors, is subject to customary closing conditions and regulatory approvals, including approvals by the Canadian Securities Exchange (CSE).

Qualified Person

Afzaal Pirzada, P.Geo., a Director of the Company and a "Qualified Person" as defined by National Instrument 43-101, reviewed and approved the scientific and technical information disclosed in this press release.

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