THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES TORONTO, ON / ACCESS Newswire / May 28, 2026 / Power Metallic Mines Inc. ("Power Metallic" or the "Company") (TSXV:PNPN)(OTCQB:PNPNF)(Frankfurt:IVV1) is pleased to announce that it has entered into an agreement with Red Cloud Securities Inc. ("Red Cloud") pursuant to which Red Cloud will act as lead agent and sole bookrunner on behalf of a syndicate of agents (collectively, the "Agents") in connection with a "best efforts" private placement (the "Marketed Offering") for gross proceeds of up to C$25,000,000 from the sale of up to 20,000,000 common shares of the Company (the "Offered Shares") at a price of C$1.25 per Offered Share (the "Offering Price"). The Company also grants the Agents an option, exercisable in full or in part up to 48 hours prior to the closing of the Marketed Offering, to sell up to an additional 2,400,000 Offered Shares at the Offering Price for up to an additional C$3,000,000 in gross proceeds (the "Agents' Option").