Power Minerals Ltd (ASX:PNN) Further High-Grade Niobium and REE Results Boost Santa Anna Project Resource Potential in Brazil

4 December 2025

Price Sensitive Announcement $

Highlights:

▪ Latest assays in holes 20 to 25 from the 1,000m auger drilling program targeting the top 15m at the Santa Anna Project in Brazil have returned multiple high-grade results over a total sampled interval of 86.5m:

• 16m at 4,462 ppm TREO surface to End of Hole (EOH); including 2m at 12,261ppm (or 1.23%) TREO from 1m in drillhole MN-TM020.
• 15m at 5,686 ppm TREO from surface to EOH, including 7m at 8,429 ppm TREO from 1 m, and 2m at 13,034 ppm (or 1.30%) TREO from 1m in drillhole MN-TM-021
• 18.5m at 4,398 ppm TREO from surface to EOH, including 3m at 12,297 ppm (or 1.23%) TREO from 9m in drillhole MN-TM-022
• 7m at 2,221 ppm Nb2O5 from 5m, including 2m at 3,226 ppm Nb2O5 from 9m in drillhole MN-TM-022
  ▪ Current auger holes are targeting a REE-rich phase of the carbonatite complex
  ▪ Consistent high-grade results returned to date help confirm the scale of the ‘weathered zone’ and validate and enhance the near surface Resource potential

  ▪ In parallel, 10,000m RC drilling campaign to commence to extend the Nb and REE mineralised footprint east and south-east of initial drilling, in untested areas of the Santa Anna Alkaline Complex

  ▪ First-phase 2,000m program planned to start this month and will target Nb-rich phases of the carbonatite alkaline complex further to the southeast

  ▪ Power’s drilling aims to deliver the first Mineral Resource Estimate for the Santa Anna alkaline carbonatite complex in Q1 2026

  ▪ Power holds the entire alkaline carbonatite complex in Brazil’s Goiás State, which was discovered in 2021; project represents an advanced high-grade critical minerals exploration opportunity

Overview:

Power Minerals Limited has reported further high-grade results from its ongoing shallow auger drilling program targeting Nb-REE in the top 15 metres of a highly weathered and clay-rich layer at Santa Anna, Brazil (Santa Anna or the Project).

Highlight niobium results include:

▪ 7m at 2,221 ppm Nb2O5 from 5m including
▪ 2m at 3,226 ppm Nb2O5 from 9m in drillhole MN-TM-022
▪ 4m at 2,725 ppm Nb2O5 from 3m including
▪ 2m at 3,340 ppm Nb2O5 from 3m in drillhole MN-TM-023

Highlight rare earth element (REE) results include:

▪ 16m at 4,462 ppm TREO from surface to EOH, including 2m at 12,261 ppm (or 1.23%) TREO from 1m in drillhole MN-TM-020

▪ 15m at 5,686 ppm TREO from surface to EOH, including 7m at 8,429 ppm TREO from 1m in drillhole MN-TM-021

▪ 18.5m at 4,398 ppm TREO from surface to EOH, including 3m at 12,297ppm (or 1.23%) TREO
from 9m in drillhole MN-TM-022

▪ 10m at 6,592 ppm TREO from surface in drillhole MN-TM-023

▪ 4m at 5,046 ppm TREO from surface in drillhole MN-TM-024

▪ 5m at 4,649 ppm TREO from surface in Drillhole MN-TM-025

Auger drillhole MN-TM-021 is only 86 metres east of previously reported drillhole MN-TM-18, which contained 20m at 4,757 ppm TREO from surface to EOH, including 5m at 9,570ppm (or 1.0%) TREO from 1m1 (see Figure 1). This phase of the carbonatite alkaline complex is REE-enriched.

Power’s current auger drilling program continues to deliver consistent high-grade niobium and REE results. This demonstrates the evolving, significant potential scale of the targeted near-surface weathered zone at Santa Anna, and validates and enhance the Mineral Resource Estimate potential in this portion of the Project.

The next phase of drilling at Santa Anna is planned to be a reverse circulation (RC) campaign of up to 10,000m. This drilling will seek to confirm an expanded mineralised footprint to the east and south-east of Power’s initial drilling, and will also target untested zones in order to provide a clearer understanding of the Project’s resource potential with the aim of delivering a maiden Mineral Resource Estimate (MRE).

Power’s auger drilling program is following up on its maiden 29-hole, 2,272m RC drilling program at the Santa Anna Project2. It is designed to extend the Project’s mineralised footprint to the east and south-east of initial drilling, targeting shallow niobium and REE in unexplored areas of the Santa Anna Alkaline Complex.

Results from Power’s auger and RC drilling to date continue to build confidence towards achieving its nearterm Project goal of confirming a significant MRE.

Background to Auger Drilling Program

Power’s second-phase auger drilling is targeting shallow niobium and REE mineralisation in the top highly weathered 15m above the underlying carbonatite. This program utilises smaller auger drill rigs operated by only four personnel, enabling access to priority target areas that may have significant vegetation cover. The auger program generally reaches a maximum depth of 15 metres, and samples are collected in onemetre continuous intervals.

To date, results have been reported for 25 auger drillholes (MN-TM-001 to MN-TM-025). The auger program is testing a large area outward from known mineralised drillholes via an 80-metre grid-based drill plan to systematically map the phases and mineralisation across the large areas of the complex, most of which have not been previously drilled.

The auger drilling results will be used to direct the planned deeper drilling. It is also envisaged that the drilling will return regularly spaced sampling data, which will assist in further developing the Project’s mineralisation model, and provide data for the delineation of an Exploration Target and MRE (subject to results).

10,000m drill program set to commence

Power plans to commence a 10,000m RC drilling campaign to follow up its maiden 29-hole, 2,272m RC drilling program at the Santa Anna Project, and subsequent auger drilling. It has been designed to extend the Project’s mineralised footprint to the east and southeast of the maiden drilling, which has intersected multiple wide zones of niobium mineralisation and multiple zones of high-grade niobium mineralisation.

Drilling to date has revealed an exceptional REE-rich clay layer near-surface, and also confirmed that the REE mineralisation continues into the deeper portions of the complex.

This third phase program will target deeper REE and niobium mineralisation in previously untested areas of the Santa Anna Alkaline Carbonatite Complex with an initial 2,000m of RC drilling for an anticipated 40 holes. It will systematically extend the drilling to test the deeper portions of the carbonatite complex. This will build on the extensive data set existing over the alkaline complex. Most early drilling by project vendors, EDEM, targeted phosphate mineralisation, and large areas have no sampling data at depth.

Company Notes:

“The continuing consistent, high-grade results from our ongoing auger drilling at Santa Anna validate and enhance our exploration model, and also builds confidence in the significant Resource potential of the shallow, weathered zone.

We have already outlined our plans for the next phase of drilling at Santa Anna, which includes a significant reverse circulation campaign of up to 10,000 metres. This initiative is designed to rapidly deepen our knowledge of the project’s geology outside the parameters of our current drilling. The initial phase of 2,000 metres of RC drilling is set to commence shortly, with assay results and additional drilling scheduled to follow systematically over the next few
months.” Power Minerals Managing Director Mena Habib

Full ASX Announcement: https://hotcopper.com.au/threads/ann-further-consistent-high-grade-niobium-and-ree-results.8922076/