Power Minerals (ASX:PNN) Intersects Further High-Grade Niobium and REE at Santa Anna Project

Highlights:

 High-grade niobium up to 14,711ppm (or 1.47%) Nb2O5 and REE up to
13,700ppm (or 1.37%) TREO intersected in 2nd phase shallow drilling at
the Santa Anna Project, Brazil

 Results are from the first 3-holes of a 1,000m auger drill program
following up broad zones of niobium and high-grade REE intersected
in the maiden drill program

 Highlight niobium results from the auger drilling program include;
o 4m at 10,023ppm Nb2O5 from 5m to EOH, and
o 2m at 13,375ppm (or 1.34%) Nb2O5 from 6m in drillhole MN-TM03
o 12m at 2,342ppm Nb2O5 from surface to EOH, including
o 1m at 14,711ppm (or 1.47%) Nb2O5 from 12m to EOH in drillhole
MN-TM-02
o 5m at 1,774ppm Nb2O5 from surface and
o 1m at 2,961ppm Nb2O5 from 7m in drillhole MN-TM-01

 Highlight REE results from the auger drilling include;
o 13m at 7,882ppm TREO from surface to EOH, including
o 3m at 12,295ppm (or 1.23%) TREO from 10m to EOH in drillhole
MN-TM-01
o 9m at 5.523ppm TREO from surface to EOH, including
o 2m at 8,561ppm TREO from 56m containing 29.7% MREO in
drillhole MN-TM-03

 Drilling is designed to extend the Santa Anna Project’s mineralised
footprint to the east and south-east of initial drilling, targeting
shallow niobium and REE in yet to be tested areas of the Santa Anna
Alkaline Complex

 Power’s drilling to date continues to build confidence towards
achieving its near-term goal of confirming a significant Mineral
Resource Estimate at the Santa Anna Project

 Testing is underway to confirm the presence of ionic clay REE in the
shallow, weathered zone

Overview:

Power Minerals Limited has reported further high-grade niobium and rare earth element (REE) intersections from its ongoing drilling programs at the Santa Anna niobium-REE-gallium carbonatite project (“Santa Anna” or “the Project”) in Goiás State, in the central region of Brazil.

The results come from the first three holes of Power’s auger drilling program, which is targeting yet to be tested areas at the Santa Anna Alkaline Complex. The drilling has returned niobium grading as high as 14,975ppm (or 1.50%) Nb2O5 and REE grading as high as 13,700ppm (or 1.37%) TREO.

Some of the highest concentrations have been recorded from the end of hole (EOH) samples.

The auger drilling program is following up Power’s recently completed maiden 29-hole, 2,272m program at the Santa Anna Project. It is designed to extend the Project’s mineralised footprint to the east and south-east of the maiden drilling which intersected multiple wide zones of niobium mineralisation and multiple zones of high-grade rare earth elements (REE) mineralisation.

These further high-grade results continue to validate and strengthen the Company’s exploration model at the Santa Anna Project, and provides strong confidence in the Project’s potential for a significant Mineral Resource Estimate.

Highlight niobium results from the auger drilling program include;
 4m at 10,023ppm Nb2O5 from 5m to EOH, including
 6m at 7,415ppm Nb2O5 from 3m and including
 2m at 13,375ppm (or 1.34%) Nb2O5 from 6m in drillhole MN-TM-03
 12m at 2,342ppm Nb2O5 from surface to EOH, including
 1m at 14,711ppm (or 1.47%) Nb2O5 from 12m to EOH in drillhole MN-TM-02
 5m at 1,774ppm Nb2O5 from surface and
 1m at 2,961ppm Nb2O5 from 7m in drillhole MN-TM-01

Highlight REE results from the auger drilling include;
 13m at 7,882ppm TREO from surface to EOH, including
 3m at 12,295ppm (or 1.23%) TREO from 10m to EOH in drillhole MN-TM-01
 12m at 3,032ppm TREO from surface to EOH in drillhole MN-TM-02
 9m at 5,523ppm TREO from surface to EOH, including
 4m at 7,687ppm TREO from 5m to EOH in drillhole MN-TM-03

Company Notes:

Power Minerals Limited Managing Director, Mena Habib: “The first results from our second phase drilling program at the Santa Anna Project provide further strong validation of our confidence in Santa Anna to deliver a significant Mineral Resources Estimate.

The current program is designed to target niobium and REE mineralisation in the shallow, weathered zone in an area adjacent to our maiden reverse circulation drilling program. The
drilling has proven to be successful with high-grade niobium and REE mineralisation reported.

Deeper, aircore and/or deeper RC drilling is now planned to test for the continuity of the mineralisation defined in the current program at depth.

These results to date represent an exciting outcome from our targeted exploration of the project, and we look forward to reporting the remaining results from the current program as
they become available and continuing to build on Santa Anna’s exploration model.”

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