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Power Metallic Mines Inc. (the "Company" or "Power Metallic") (TSXV: PNPN,OTC:PNPNF) (OTCBB: PNPNF) (Frankfurt: IVV) is pleased to announce the voting results from its Annual General and Special Meeting ("AGSM") held on November 20, 2025 in Toronto, Ontario.
Shareholders voted in favor of all items of business presented at the AGSM, as outlined in the proxy-related materials, including the Notice of Meeting and the Information Circular dated October 14, 2025 (the "Information Circular"). These items included the election of directors such that each of Terry Lynch, Peter Kent, Les Mallard, Greg McKenzie, Steve Beresford and Seamus O'Regan were elected as directors, the appointment of the Company's auditor, MNP LLP, the approval of the Omnibus Equity Incentive Plan, and the approval of an amendment to the Company's Articles, to give the chair of the Board a casting vote. Just over 31% of the Company's issued and outstanding common shares as of the record date of the AGSM were voted. Table 1 contains the percentage vote for each proposed item – further detail found in the Information Circular.
The Omnibus Equity Incentive Plan replaces the Company's previous stock option plan, which now enables the Company to grant other forms of equity compensation, including Restricted Share Units, Deferred Share Units and Performance Share Units, in addition to stock options. The Omnibus Equity Incentive Plan complies with the requirements of TSX Venture Exchange Policy 4.4 – Securities Based Compensation.
For more information on the resolutions and the Omnibus Equity Incentive Plan, shareholders are encouraged to refer to the Information Circular available at the Company's profile on SEDAR+.
New York Stock Exchange - NYSEÂ
As previously announced, the Company is advancing its application for a listing on the NYSE, subject to regulatory approval. Following the completion of the Q3 financial review by our auditors and the NYSE, we expect to provide an update in early January
About Power Metallic Mines Inc.
Power Metallic is a Canadian exploration company focused on advancing the Nisk Project Area (Nisk–Lion–Tiger)—a high–grade Copper–PGE, Nickel, gold and silver system—toward Canada's next polymetallic mine.
On 1 February 2021, Power Metallic (then Chilean Metals) secured an option to earn up to 80% of the Nisk project from Critical Elements Lithium Corp. (TSX–V: CRE). Following the June 2025 purchase of 313 adjoining claims (~167 km²) from Li–FT Power, the Company now controls ~212.86 km² and roughly 50 km of prospective basin margins.
Power Metallic is expanding mineralization at the Nisk and Lion discovery zones, evaluating the Tiger target, and exploring the enlarged land package through successive drill programs.
Beyond the Nisk Project Area, Power Metallic indirectly has an interest in significant land packages in British Columbia and Chile, by its 50% share ownership position in Chilean Metals Inc., which were spun out from Power Metallic via a plan of arrangement on February 3, 2025.
It also owns 100% of Power Metallic Arabia which owns 100% interest in the Jabul Baudan exploration license in The Kingdon of Saudi Arabia's JabalSaid Belt. The property encompasses over 200 square kilometres in an area recognized for its high prospectivity for copper gold and zinc mineralization. The region is known for its massive volcanic sulfide (VMS) deposits, including the world-class Jabal Sayid mine and the promising Umm and Damad deposit.
Cautionary Note Regarding Forward-Looking Statements
This message contains certain statements that may be deemed "forward-looking statements" concerning the Company within the meaning of applicable securities laws. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects," "plans," "anticipates," "believes," "intends," "estimates," "projects," "potential," "indicates," "opportunity," "possible" and similar expressions, or that events or conditions "will," "would," "may," "could" or "should" occur. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance, are subject to risks and uncertainties, and actual results or realities may differ materially from those in the forward-looking statements. Such material risks and uncertainties include, but are not limited to, among others; the timing for various drilling plans; the ability and timing to raise sufficient capital to fund its obligations under its property agreements going forward and conduct drilling and exploration; to maintain its mineral tenures and concessions in good standing; to explore and develop its projects; changes in economic conditions or financial markets; the inherent hazards associates with mineral exploration and mining operations; future prices of nickel and other metals; changes in general economic conditions; accuracy of mineral resource and reserve estimates; the potential for new discoveries; the ability of the Company to obtain the necessary permits and consents required to explore, drill and develop the projects and if accepted, to obtain such licenses and approvals in a timely fashion relative to the Company's plans and business objectives for the applicable project; the general ability of the Company to monetize its mineral resources; and changes in environmental and other laws or regulations that could have an impact on the Company's operations, compliance with environmental laws and regulations, dependence on key management personnel and general competition in the mining industry.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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SOURCE Power Metallic Mines Inc.
