In turbulent markets, location matters in the critical minerals sector
- Global interest in Cesium continues to build
- Extensive exploration campaigns in 2025 to commence soon
- Canaccord’s important strategic role
In today’s economic climate, where tariff-driven disruptions continue to fuel global market volatility, the strategic value of a flagship mining asset located in the heart of North America’s high-grade critical minerals corridor has never been more important.
Against this challenging backdrop, Power Metals management and technical team remains focused advancing the high-potential Case Lake cesium project in Ontario, Canada, toward production.
As we move into the second quarter of 2025, I’m pleased to provide an update on the Company’s recent progress and share some key developments that continue to strengthen our position as a strategic player in the critical minerals space.
During the past few weeks, we’ve made meaningful strides across exploration, market engagement, metallurgical test work and strategic positioning.
Our core focus remains unchanged, to unlock the value of our high-grade cesium, tantalum, and lithium assets in Ontario through exposure to the rapidly evolving North American critical minerals supply chain.
Global interest builds following PDAC Conference
This year’s PDAC Conference in Toronto marked a significant turning point in global recognition of the strategic importance of cesium.
The Company received strong interest from a diverse group of international strategic investors, leading to multiple site visit requests and ongoing discussions around potential offtake agreements and investment partnerships.
Since the conference, interest has continued to build, and Power Metals is now actively progressing several strategic investment discussions. These relationships are expected to play a vital role in accelerating the development of our cesium, tantalum, and lithium assets and positioning the Company to participate in the rapidly evolving North American downstream supply chain.
We remain committed to pursuing commercial and investment opportunities that align with our long-term vision, ensuring value creation for shareholders while strengthening our position as a strategic contributor to the critical minerals sector.
Extensive exploration program set to expand beyond Cesium
Power Metals is gearing up for a busy remainder of 2025, with an extensive exploration and drilling program set to commence shortly.
Building on the strong geochemical assays released earlier this year, including results of up to 22.70% Cs₂O, the upcoming campaigns will target the expansion of known mineralised zones while also evaluating new, high-priority targets across the Case Lake Project.
This next phase will build on data from earlier drilling, with the recently announced Phase III results already reinforcing our confidence in the project’s long-term potential.
Key intercepts include PWM-24-236, which returned 9.04 metres averaging 6.49% cesium oxide (Cs₂O), featuring a high-grade 1-metre interval at 20.40% Cs₂O. In addition, substantial tantalum enrichment was also identified, with values reaching 6,211 ppm tantalum (Ta).
We also successfully completed our Phase II ore sorting program, which produced high-grade cesium oxide concentrate of up to 18.57% Cs₂O.
These results validate the efficiency and cost-effectiveness of our bulk concentrate production process at Case Lake and affirm the minimal environmental footprint of future onsite production.
While still early in the broader assessment, these outcomes highlight the opportunity to diversify beyond cesium, as the Company explores the full commercial potential of the Case Lake Project.
Adding to this momentum, a positive development from the United States has seen tantalum added to the U.S. Critical Minerals List. The Trump administration’s recognition of tantalum’s strategic importance further aligns with and reinforces the value of Power Metals long-term growth strategy.
Canaccord’s strategic involvement
Since engaging Canaccord Genuity, their team has played a key role in shaping our broader market strategy. Their involvement provides us with a strategic edge as we continue to engage with institutional investors and potential partners across Canada, Europe and the US.
Outlook
As we progress through 2025, despite ongoing financial headwinds across global market, Power Metals remains focused on delivering long-term value for shareholders.
Backed by growing international interest, an expanded exploration program, and the strategic support of partners like Canaccord Genuity, we are well positioned to advance the Case Lake Project and seize emerging opportunities across the North American critical minerals supply chain.
We appreciate the continued confidence of our shareholders and look forward to providing further updates as we execute on our vision for sustainable growth and long-term success in the critical minerals sector.
Haydn Daxter, CEO
