Power Minerals Ltd (ASX:PNN) Proceeds With Santa Anna Noibium-REE-Gallium Project

11 August 2025

Price Sensitive Announcement $

Highlights:

• Power Minerals has successfully completed due diligence at the Santa Anna Niobium-REE-Gallium Project in Goiás State, Brazil and will proceed with the acquisition of this project
• The acquisition will strongly complement Power’s existing portfolio of strategic critical minerals assets and strengthen its position as a South American-focused clean energy metals explorer and developer
• Power’s due diligence drilling plus historic results highlight the Project’s expansion potential at depth and validate the Company’s exploration model at Santa Anna, with highest grades of 33,600ppm Nb₂O₅ and 35,473ppm TREO
• Highlight results include:
• 87m at 2,124ppm Nb₂O₅ from 24m, incl. 1m at 5,745ppm Nb₂O₅ from 107m and 3m at 10,117ppm Nb₂O₅ from 24m in MN-RC-028
  • 76m to End of Hole (EOH) at 3,424ppm Nb₂O₅ from 24m, incl. 26m at 5,317ppm Nb₂O₅ from 24m, incl. 5m at 8,025ppm Nb₂O₅ from 29m and 5m at 6,802ppm Nb₂O₅ from 41m in MN-RC-045
  • 34m at 3,019ppm Nb₂O₅ from 6m, incl. 5m at 5,615ppm from 20m in MN-RC-041
  • 114m at 3,012ppm TREO from surface, incl. 16m at 5,300ppm TREO from 97m from MN-RC-028
  • 60m at 9,202ppm TREO from surface, incl. 14m at 18,768ppm TREO from 30m in MN-RC-045
  • 34m at 4,544ppm TREO from surface containing 21.3% MREO, incl. 14m at 6,936ppm TREO from surface, and incl. 3m at 9,445ppm TREO from 2m; and 16m at 5,957ppm TREO from 84m to EOH in MN-RC-025
  • 35m at 8,050ppm TREO from 11m, incl. 7m at 17,163ppm TREO from 21m in MN-RC-042
  • 25m at 8,809ppm TREO from surface, incl. 5m at 15,975ppm TREO from 9m and 5m at 11,483ppm TREO from 20m in MN-RC-041
• TREO mineralisation was intersected within the shallow weathered zone ~89.3% of the 5.8km² Alkaline Complex surface area is untested, indicating a potential significant scale exploration opportunity similar scale to CBMM’s Araxá carbonatite (mine area ~4.5km2), the world’s largest source of niobium
• Phase 2 drilling is underway and is aimed at further extending the Project’s mineralised footprint
• Santa Anna is surrounded by accessible roads and power on flat, cleared land with established local relationships in place
• Acquisition completion is now subject to Power and project vendor EDEM entering a Definitive Acquisition Agreement – expected to be finalised this month
• Power and EDEM have a strategic partnership for the Santa Anna Project – EDEM is an experienced Brazilian miner and developer which employs ~500 people in Goiás State
• Power is well funded to advance exploration and development at Santa Anna – 2nd milestone payment due in 24 months allowing sufficient lead-time to add project value

Overview:

Power Minerals Limited has successfully completed due diligence and will now proceed to complete the acquisition of the Santa Anna Niobium-REE-Gallium Project in Goiás State, Brazil.

Power executed a binding letter of intent (LoI) for an exclusive option to acquire the Project subject to completion of due diligence to its satisfaction (ASX Announcement 16 April 2025). The acquisition significantly enhances Power’s position as a South American-focused clean energy metals explorer and developer.

The core component of the due diligence process was a maiden drilling program which intersected broad zones of niobium and high-grade REE, and confirmed that mineralisation occurs at surface (weathered zone) and at depth (fresh rock) within the carbonatite deposit at Santa Anna.

The due diligence drilling validated Power’s exploration model for the Project, and highlighted its expansion potential at depth and at surface where nearly 90% of the surface area of the Alkaline Complex remains untested.  

Based on these positive outcomes, Power will now move to formally complete the acquisition, and has commenced a Phase 2 drilling program at Santa Anna, designed to extend the Project’s mineralised footprint (ASX Announcement 6 August 2025).

Completion of the acquisition is subject to a binding definitive acquisition agreement (Agreement) between Power and project vendors, EDEM, which is expected to be finalised in the current month. 

Company Notes:

“With initial drilling at Santa Anna complete and returning encouraging results and our Phase 2 drilling already underway, we are excited to announce our decision to proceed with the acquisition of the Santa Anna Project. Initial drilling demonstrated significant niobium and REE mineralisation both at depth in fresh rock and near surface in the weathered zone.

Importantly, the due diligence drilling has validated our exploration model for the Project, that it represents a district-scale carbonatite-hosted niobium and REE exploration opportunity. Our drilling also highlighted the Project’s expansion potential at depth. The expansion potential is further reinforced at surface by the fact that around 90% of the Alkaline Complex’s surface area is yet to be tested.

Power views the ability to acquire such a significant carbonatite field as being potentially company changing, and we look forward to completing the acquisition and progressing our targeted exploration programs, to confirm an Exploration Target and Mineral Resource Estimation for the Project.”

Power Minerals Limited Managing Director, Mena Habib