Powermax Options Atikokan REE Property in Ontario

Vancouver, British Columbia--(Newsfile Corp. - June 18, 2025) - Powermax Minerals Inc. (CSE: PMAX) (the "Company" or "Powermax") is pleased to announce that, pursuant to an option agreement, dated June 18, 2025, it has acquired an option (the "Option") to acquire a 100% interest in and to the Atikokan rare earth elements (REE) property (the "Property") located in the Province of Ontario. The Atikokan Property is composed of 455 unpatented mining claims, located in the Ignace-Atikokan area of Northwestern Ontario. Geologically, the Property is in the Wabigoon Subprovince of the Superior Geological Province, composed mainly of Archean metavolcanic and metasedimentary rocks, intruded by granitoid plutons like granodiorite and granite. Most of the Property area is underlain by the White Otter Batholith, a large complex pluton considered favourable for rare earth elements (REE) exploration.

The Option was acquired by way of assignment (the "Assignment") from Bosom Holdings Inc. ("Bosom"), an arm's length entity, that had previously entered into an option agreement (the "Original Option") with the underlying property optionors, 0761585 BC Ltd. ("0761") and 1544230 Ontario Inc. ("1544" and, together with 0761, the "Optionors"). In consideration for the Assignment, the Company has agreed to (i) upon the Assignment, pay Bosom $20,000 and reimburse Bosom for $20,000 previously paid by Bosom to the Optionors pursuant to the Original Option and (ii) within six business days of the Assignment, issue to Bosom an aggregate of 1,550,000 common shares of the Company (each, a "Share") at a deemed price of $0.35 per Share. Pursuant to the Option, in order to acquire a 100% interest in and to the Atikokan Property, the Company must pay an aggregate of $235,000 in cash and issue an aggregate of 450,000 Shares to the Optionors, as set out as follows:

• $25,000 upon the Assignment;
• 150,000 Shares upon receipt of regulatory approval respecting the Assignment;
• $54,000 within one (1) year of the Assignment;
• 150,000 Shares within one (1) year of the Assignment;
• $66,000 within two (2) years of the Assignment;
• 150,000 Shares within two (2) years of the Assignment; and
• $90,000 within three (3) years of the Assignment.

Upon the Company's exercise of the Option, the Optionors will retain a 1.5% net smelter returns royalty (NSR) on the Atikokan Property, one third (1/3) of which may be repurchased for $600,000 and the remaining two thirds (2/3) of which may be repurchased for $3,000,000.