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Power Metallic Mines Inc. reports mineral exploration developments tied to its common shares traded as PNPNF in the United States and PNPN on the TSX Venture Exchange. Company updates focus on drill assays from the Lion Zone, infill drilling, structural interpretation, copper-equivalent results, and work supporting future mineral resource estimates and potential development concepts.
Recurring disclosures also cover regional exploration targets around Lion, Lion East, Lion West, Tiger, Elephant and related sulphide or gold mineralization, along with the company's Power Metallic Arabia subsidiary and the Jabul Baudan exploration license in Saudi Arabia's Jabal Said Belt. News may also include investor-relations disclosures, OTC Markets responses, and corporate actions involving mineral exploration assets.
Power Metallic Mines (OTCBB:PNPNF) upsized its brokered LIFE equity offering from C$25 million to up to C$30 million, citing strong investor demand. Up to 24 million shares at C$1.25 will be issued, plus an agents’ option for 2.4 million more. Net proceeds will fund the NISK Project in Québec, the Jabul Baudan license in Saudi Arabia, and working capital. Closing is targeted for June 10, 2026, subject to regulatory and TSX Venture approval.
Power Metallic Mines (OTCQB:PNPNF) launched a brokered listed issuer financing exemption (LIFE) private placement for up to C$25 million, selling up to 20,000,000 common shares at C$1.25 each. An agent option could add C$3 million. Proceeds will fund the NISK Project in Québec, the Jabul Baudan license in Saudi Arabia, and working capital. Closing is anticipated on June 10, 2026, subject to regulatory and TSX Venture Exchange approvals.
Power Metallic Mines (OTCBB: PNPNF) expanded its summer 2026 exploration program at the Nisk Project in Quebec. The company is deploying SQUIDs, gravity, and Ambient Noise Tomography surveys, plus a regional lake sediment survey, to refine targets for deeper Ni-Cu-PGE mineralization.
According to Power Metallic, more than 30,000 meters of drilling are planned over the next two quarters of 2026, supported by field mapping, prospecting, and environmental baseline studies for potential future feasibility work.
Power Metallic (OTC: PNPNF) reported new Lion Zone drill results and positive metallurgy on low-grade disseminated mineralization. Highlights include 4.07 m @ 8.73% CuEqRec in hole PML-26-067 and 10.30 m @ 4.04% CuEqRec in hole PML-26-097, both near surface.
Locked-cycle tests on blended and “low-low grade” composites show Cu recoveries of 98.9% and 98.3% at ~25% Cu concentrate. According to Power Metallic, these results support robust near-surface modelling, inform low cut-off grades, and will feed into NI 43-101 MREs for Lion and Nisk due by late July 2026, preceding a PEA.
Power Metallic (OTC: PNPNF) entered a joint venture framework with Amaar Mining to pursue future Saudi mining license auctions. The partners plan 50/50 ownership and economics, with an initial approved post-award work-program funding framework of up to US$10 million.
Power Metallic will lead technical and operational work, while Amaar Mining provides local coordination and regulatory support. The structure builds on Power Metallic’s >200 km² Jabal Baudan exploration license in the Jabal Sayid belt, targeting copper, gold, and zinc opportunities.
Power Metallic (OTC: PNPNF) engaged Vancouver-based Ideon Technologies to deploy a borehole muon tomography imaging program at the Lion Zone within the Nisk polymetallic project in Quebec.
The two-stage Ideon REVEAL™ program will build and validate a 3D density model, then apply it to rank deep targets across the 330 km² Nisk property below ~200 m depth.
Power Metallic (TSXV: PNPN / OTCBB: PNPNF) reported additional winter 2026 drill assays from the Lion Zone, including a 22.00 m intercept grading 11.46% CuEqRec in hole PML-26-095 and higher-grade internal intervals up to 18.62% CuEqRec. Holes cover ~560 m down-plunge and will feed the inaugural Mineral Resource Estimate in Q3 2026. The release also notes deeper moderate mineralization in PML-26-069 at ~600 m vertical depth and sub-economic results from east-of-Tiger exploratory holes. Reported lengths are downhole; true width estimated at 85% of downhole length.
Power Metallic (TSXV: PNPN / OTC: PNPNF) reported additional winter 2026 drill assays from the Lion Zone on May 4, 2026. Key intercepts include PML-26-094: 17.45 m @ 9.47% CuEqRec (incl. 6.30 m @ 17.91% CuEqRec) and PML-26-101: 39.00 m @ 5.66% CuEqRec (incl. 9.20 m @ 15.18% CuEqRec).
The drilling covers ~200 m strike and ~100 m vertical depth and supports a planned 2026 Mineral Resource Estimate aimed for Q3. CuEqRec uses specified metal prices and recovered grades from SGS locked-cycle tests.
Power Metallic (TSXV: PNPN / OTC: PNPNF) released Winter 2026 drill assays from the Lion MRE infill program, reporting 27.10 m @ 2.17% CuEqRec in hole PML-26-050, including 4.76 m @ 10.43% CuEqRec. Multiple infill holes tested the eastern side to support a 2026 Mineral Resource Estimate and potential starter open pit.
Exploratory holes east and west defined the eastern boundary with low-grade intercepts, while several western holes failed to intersect significant sulphides. Qualified Person: Joseph Campbell, P. Geo.
Power Metallic (OTC: PNPNF) released fall 2025 and first Winter 2026 drill assays from the Lion area, reporting a company-best near-surface copper intersection of 16.55m @ 10.08% Cu (15.11% CuEqRec) in hole PML-26-049.
Other notable results: 7.60m @ 7.20% CuEqRec in PML-25-043 and 4.15m @ 4.16% Cu (6.80% CuEqRec) in PML-25-047. Infill drilling aims to support an Indicated MRE and potential near-surface open-pit targets; exploration holes west/east returned narrow, modest grades requiring follow-up.