This article has been disseminated on behalf of Powermax Minerals Inc. and may include paid advertising.
Powermax Minerals (CSE: PMAX) (OTCQB: PWMXF) (FSE: T23) announced a three-year option agreement to acquire a 100% interest in the Melba North property, comprising approximately 3,360 hectares adjacent to its Hopkins rare earth elements (“REE”) property in northern Ontario. Under the agreement, Powermax will make cash payments totaling C$86,000 and issue 400,000 common shares, subject to applicable exchange approval. The property is also subject to a 1.5% net smelter returns royalty, of which 0.5% may be repurchased for C$500,000. A 2025 historical drilling program documented in an assessment report included seven holes totaling 1,983 meters, with selected intervals grading up to 0.45% total rare earth oxides (“TREO”) over 3.70 meters and a highest reported sample interval of 0.76% TREO over 0.60 meters. Powermax plans to integrate the historical drilling data with ongoing exploration at Hopkins to identify potential targets for follow-up drilling, subject to permitting and regulatory approvals.
To view the full press release, visit https://ibn.fm/OqRPx
About Powermax Minerals Inc.
Powermax Minerals Inc. is a Canadian mineral exploration company focused on rare earth element projects in North America.
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