Disseminated on behalf of Powermax Minerals Inc. (CSE: PMAX) (OTCQB: PWMXF) and may include paid advertising.
- The company completed its first milestone payment and share issuance under the option agreement to acquire 100% of the Pinard Rare Earths Project in northern Ontario.
- The Pinard project covers 255 contiguous claims across 5,178 hectares within an alkaline intrusive complex comparable to nearby REE-bearing systems.
- A new geoscience interpretation at Atikokan Project identified multiple high-priority REE targets, including a structural–geochemical corridor with TREE values up to 1,947 ppm.
- Powermax continues to build a diversified REE portfolio across Ontario, British Columbia, and Wyoming, including its 100%-owned Ogden Bear Lodge Project bordering a U.S. DOE–funded REE district.
- Global demand for rare earth elements is projected to triple by 2035, underscoring the strategic significance of North American REE exploration amid policies supporting domestic supply chains.
Powermax Minerals (CSE: PMAX) (OTCQB: PWMXF), a Canadian mineral exploration company, continued expanding its rare earth element (“REE”) exploration portfolio in November, completing its initial milestone payment and share issuance toward the acquisition of the Pinard Rare Earths Project in northern Ontario. The company confirmed the transaction in a November 13 update, marking progress on a multi-year option agreement that could ultimately give Powermax full ownership of the 5,178-hectare property (https://ibn.fm/0kvU7).
Under the option terms, Powermax issued 160,000 common shares and paid $18,000 to the property optionors. Future payments include additional shares and cash totaling $90,000 over three years. The agreement includes a 1.5% net smelter royalty, with a buyback option allowing Powermax to reduce the NSR to 1.0% for $500,000.
The Pinard project sits roughly 70 kilometers north-northeast of Kapuskasing and is accessible year-round via all-weather roads. Its geology centers on the Pinard Intrusive Rock Complex, an alkaline system featuring nepheline syenites, trachytes and peralkaline granites, rock types that frequently host REE-bearing mineralization. The complex resembles the Clay Howell Intrusive, located 20 kilometers to the southwest, where known REE occurrences have been documented.
Days before the Pinard announcement, Powermax released new results from an integrated geoscientific study of its flagship Atikokan REE Property in northwestern Ontario. The study, led by geophysicist Shahab Tavakoli, combined regional magnetic, gravity, and radiometric datasets with deep lake-sediment geochemistry from the Ontario Geological Survey (https://ibn.fm/HD7s5).
The analysis identified several zones of REE enrichment across the project’s three claim blocks totaling 9,416 hectares. Of particular interest is a corridor of anomalous TREE values along the contact between the White Otter Batholith and the Dashwa Gneissic Suite, a setting characterized by steep structural fabrics and reactive lithologies.
Within Blocks B and C, lake-sediment samples returned TREE values ranging from 254 to 1,947 ppm, alongside radiometric signatures, elevated Th/K and Th/U ratios, consistent with phosphate-associated REE mineralization. Block A also displayed moderately elevated REE values tied to structural corridors within the interior of the batholith.
Powermax has already initiated follow-up work, including high-resolution magnetic and radiometric surveys, detailed geological mapping, and systematic surface sampling. These efforts aim to refine target geometry, verify REE-bearing mineral phases such as monazite and allanite, and prioritize zones for potential drilling.
“We are very encouraged by the progress at Atikokan,” said CEO Paul Gorman, noting that the study provides a strong scientific foundation for identifying REE-enriched corridors and the rapid advancement of the project through integrated fieldwork for detailed follow-up exploration.
Powermax now advances four REE projects across Canada and the United States:
- Atikokan (Ontario) – A 9,416-hectare project within a structurally favorable corridor between the Wabigoon and Quetico sub-provinces, known for granitic REE and lithium-bearing pegmatites.
- Cameron (British Columbia) – A 2,984-hectare pegmatite and gneiss-hosted REE project south of Revelstoke, where Phase 1 sampling returned TREE values up to 1,943 ppm.
- Ogden Bear Lodge (Wyoming) – A 100%-owned 184-hectare project bordering the Bear Lodge district, an area supported by U.S. Department of Energy funding and a nonbinding EXIM Bank financing interest.
- Pinard (Ontario) – Newly optioned, located in a prospective alkaline intrusive complex near existing REE-bearing systems.
This geographic spread aligns with North American government initiatives encouraging domestic REE development. In 2025, Canada continued directing funds toward critical-mineral infrastructure, while the U.S. Department of Energy expanded support for rare earths and magnet supply chains.
Powermax’s exploration activity takes place against a backdrop of rising structural demand for REEs. According to Grand View Research, the global market, valued at US$3.95 billion in 2024, is projected to reach US$6.3 billion by 2030 (https://ibn.fm/TJzeJ). Demand for key magnetic rare earths, including neodymium and praseodymium, is closely tied to electric vehicles, wind turbines, and high-performance electronics.
Global consumption of rare earth oxides is forecast to increase from 59,000 tonnes in 2022 to 176,000 tonnes by 2035 as electrification accelerates (https://ibn.fm/F0ajd). Current supply remains highly concentrated, with China accounting for around 60% of mining and 90% of processing capacity. Recent Chinese export restrictions have elevated supply-chain risk and underscored the need for new development in stable jurisdictions.
North American policy responses include large-scale funding through the U.S. Defense Production Act and Canada’s Critical Minerals Infrastructure Fund, both aimed at strengthening domestic supply chains. Exploration-stage companies such as Powermax stand to benefit from this environment as governments encourage upstream project development.
For more information, visit the company’s website at www.PowermaxMinerals.com.
NOTE TO INVESTORS: The latest news and updates relating to PWMXF are available in the company’s newsroom at https://ibn.fm/PWMXF
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