Powermax Minerals Advances Rare Earths Portfolio with Pinard Milestone and Atikokan Targets

Powermax Minerals Inc. (CSE: PMAX) (OTCQB: PWMXF) has advanced its rare earth element exploration portfolio through two significant developments in November, completing its initial milestone payment for the Pinard Rare Earths Project while identifying new high-priority targets at its Atikokan Project. The company confirmed the Pinard transaction in a November 13 update, marking progress on a multi-year option agreement that could ultimately give Powermax full ownership of the 5,178-hectare property located in northern Ontario's alkaline intrusive complex, which is geologically comparable to nearby rare earth element-bearing systems.

Under the option agreement terms detailed at https://ibn.fm/0kvU7, Powermax issued 160,000 common shares and paid $18,000 to the property optionors, with future payments including additional shares and cash totaling $90,000 over three years. The Pinard project covers 255 contiguous claims across 5,178 hectares within a geological setting that shows promise for rare earth element mineralization, positioning the company to expand its presence in a region known for similar mineral systems.

Simultaneously, Powermax announced a new geoscience interpretation at its Atikokan Project that identified multiple high-priority rare earth element targets, including a structural-geochemical corridor with total rare earth element values reaching up to 1,947 parts per million. This discovery enhances the project's potential and complements the company's broader strategy of building a diversified rare earth element portfolio across Ontario, British Columbia, and Wyoming.

The company's portfolio includes its 100%-owned Ogden Bear Lodge Project, which borders a U.S. Department of Energy-funded rare earth element district, creating additional strategic value. These developments come as global demand for rare earth elements is projected to triple by 2035, according to industry forecasts, underscoring the strategic significance of North American rare earth element exploration amid policies supporting domestic supply chains.

Powermax's progress reflects a broader industry trend toward securing domestic sources of critical minerals essential for technologies ranging from electric vehicles and renewable energy systems to defense applications. The company's multi-project approach across different jurisdictions provides geographic diversification while targeting geological environments with established rare earth element potential. Investors can access the latest news and updates relating to PWMXF in the company's newsroom at https://ibn.fm/PWMXF, though the company's primary focus remains on advancing its exploration programs through systematic geological work and strategic acquisitions.

The rare earth element market's projected growth trajectory, combined with increasing government support for domestic supply chain development, creates favorable conditions for exploration companies like Powermax that are establishing early-stage positions in prospective geological districts. The company's simultaneous progress on both the Pinard acquisition and Atikokan target identification demonstrates its operational capacity to advance multiple projects concurrently, potentially accelerating its path to resource definition and development in a market where supply security has become a strategic priority for North American governments and industries.