Powermax Minerals Secures Option to Acquire 100% of Melba North Rare Earth Property

Powermax Minerals announced a three-year option to acquire 100% of Melba North from Gravel Ridge Resources and 1544230 Ontario. The property covers approximately 3,360 hectares across 10 mining claims adjacent to the company's Hopkins rare earth project in northern Ontario. Consideration totals C$ 86,000 in staged cash payments over three years and 400,000 common shares, subject to exchange approval. The option carries a 1.5% net smelter returns royalty; C$ 500,000 would buy back 0.5%, reducing the royalty to 1%. Planned exploration will integrate Melba North into Hopkins-area work to assess follow-up drilling targets, subject to permit conditions and regulatory approvals. Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Powermax Minerals Inc. published the original content used to generate this news brief via (Ref. ID: 202610150730NEWSFILECNPR____20261015_319018_1) on October 15, 2026, and is solely responsible for the inform