Power Minerals Ltd (ASX:PNN) Exceptional High–Grade Clay-Rich REE Drilling Intersections at Santa Anna

25 August 2025

Price Sensitive Announcement $

Highlights:

• Spectacular high-grade REE intersections up to 43,385ppm (or 4.34%) TREO returned in 2^nd phase shallow drilling at the Santa Anna Project, Brazil
• Results are from the 4^th hole (MN-TM-04) of an ongoing 1,000m auger drill program following up broad zones of niobium and high-grade REE intersected in the RC maiden drill program
• Highlight REE results from drill hole MN-TM-04 include: 
  • 15m at 13,212ppm TREO from surface to EOH, containing 24.2% MREO, including:
  • 4m at 28,827ppm TREO from 9m, containing 26.5% MREO, including
  • 1m at 43,385ppm TREO from 11m, containing 26.0% MREO.
• MN-TM-04 also returned further strong niobium results, including: 
  • 15m at 4,319ppm Nb₂O₅ from surface to EOH including
  • 3m at 7,522ppm Nb₂O₅ from 11m and
  • 1m at 7,748ppm Nb₂O₅ from 12m
• 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
• These consistent grades indicate a potential world-class and advanced exploration opportunity within the critical mineral sector, located in the Brazilian state of Goiás, a mining-friendly jurisdiction, with no environmental issues or concerns.  The project is also not encumbered by any other adjoining projects

Overview:

• Power Minerals Limited (ASX: PNN, Power or the Company) is pleased to announce exceptionally high-grade rare earth element (REE) intersections

• from its ongoing auger drilling program at the Santa Anna niobium-REE-carbonatite project (“Santa Anna” or “the Project”) in Goiás State, in the central region of Brazil.
• The latest results come from the fourth hole (MN-TM-04) of Power’s auger drilling program targeting yet to be tested areas at the Santa Anna Alkaline Complex, and have returned REE intersections as high as 43,385ppm (4.34%) TREO within a broad high-grade 15 metre TREO intersection. 

MN-TM-04 also intersected further strong zones of niobium, grading up to 7,748ppm Nb₂O₅ within a broad, 15 metre interval.

It is noted that the broad zone of mineralisation intersected in MN-TM-04 extended from surface to the end of hole (EOH), highlighting the heavily mineralised nature of the of the drill-tested area in Power’s auger drilling program to date. 

Highlight REE results from auger drill hole MN-TM-04 include: 

• 15m at 13,212ppm TREO from surface to EOH, containing 24.2% MREO, including
• 4m at 28,827ppm TREO from 9m, containing 26.5% MREO, including
• 1m at 43,385ppm TREO from 11m, containing 26.0% MREO.

Highlight niobium results from auger drill hole MN-TM-04 include: 

• 15m at 4,319ppm Nb₂O₅ from surface to EOH, including
• 3m at 7,522ppm Nb₂O₅ from 11m , including
• 1m at 7,748ppm Nb₂O₅ from 12m

Power’s auger drilling program is following up its recently completed maiden 29-hole, 2,272m reverse circulation (RC) drilling program at the Santa Anna Project¹. The auger drilling 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 REE mineralisation.

The high-grade results from drill hole MN-TM-04 follow the recently released high-grade results from the first three holes of the auger drilling program (MN-TM-01, MN-TM-02 and MN-TM-03)².

Highlight niobium results from auger drill holes MN-TM-01, MN-TM-02 and MN-TM-03 included: 

• 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 auger drill holes MN-TM-01, MN-TM-02 and MN-TM-03 included:

• 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 

The results reported to date (MN-TM-01 to MN-TM-04 inclusive) continue to validate and strengthen Power’s exploration model for the Santa Anna Project, and strengthens confidence in the Project’s potential for a significant Mineral Resource Estimate (MRE).

• The second phase, auger drilling program is planned to consist of 1,000m of auger drilling for approximately 60 holes. The program is ongoing and further results will be released as they are received. Testing will also be undertaken to confirm the presence of ionic clay REE in the shallow, weathered zone. This leach test will use industry-standard AMSUL wash conditions to determine the individual REE recoveries in the clay-rich portion of the intrusion.

Drill results commentary

• The fourth hole (MN-TM-04) completed as part of Power’s second stage drilling at the Santa Anna Project has returned spectacular REE results, highlighted by the highest ever TREO result at the Project of 43,385ppm (or 4.34%) TREO from a one metre near-surface sample.
• MN-TM-04 is located near previous drillholes, MN-RC-019 and MN-TH-009, and was designed to independently test previous near-surface REE results.
• Of significance is that some of the high concentrations reported to date (holes MN-TM-01 to MN-TM-04 inclusive) have been intersected at the end of hole. 
• In the latest hole (MN-TM-04), REE was present at EOH depth of 15 metres, with the hole abandoned in TREO mineralisation grading 13,212ppm TREO. The hole also ended in significant niobium mineralisation, returning 4,319ppm Nb₂O₅ at EOH.
• All completed drillholes to date have stopped when penetration of the auger rig effectively ceased. Power plans to follow up the high-grade intersections from its shallow auger drilling with aircore/RC drilling to test for the continuity of mineralisation at deeper depths of the alkaline complex in subsequent phases of drilling.
• The near surface mineralisation of the alkaline complex naturally varies laterally as expected in clay-rich units.  Power will continue its auger drilling in a systematic fashion, stepping outward from the latest drill holes into un-tested areas in a regular grid pattern. This grid pattern drilling is designed to assist with future MRE calculations.
• Samples have been collected at one-metre intervals, and each sample has been treated and reported individually to maintain a high level of detail and accuracy.
• The high-grade results reported by Power for MN-TM-04 included the certified standard OREAS 461 which reported results within one standard deviation of the certified value, and the differences between the blind duplicates and the blank material (OREAS 22i) values were well within acceptable tolerances for all elements.

Company Notes:

“The latest results from our ongoing auger drilling campaign at the Santa Anna Project provide further compelling validation of our exploration model at the Project, and in our confidence in its potential to deliver a significant Mineral Resources Estimate.

Drill hole MN-TM-04 has returned spectacular results, highlighted by the highest TREO result reported at the Santa Anna Project to date, of 43,385ppm – which equates to 4.34% – TREO. This intersection was returned within a wider 15 metre zone from surface to end-of-hole depth, which graded 13,212ppm TREO. Further strong niobium grades were also reported in this hole.

The auger drilling program has been successful in defining shallow high-grade REE and niobium mineralisation in the Project, and remains ongoing into the previously untested areas. These high grades from near surface are indicating a potential world class and advanced exploration opportunity with critical minerals for Power.”

Power Minerals Limited Managing Director, Mena Habib