Power Minerals Advances Santa Anna Maiden Resource Estimate Delivery

Power Minerals' Strategic Milestone at Santa Anna

Power Minerals Limited (ASX: PNN) has reached a significant development milestone by engaging leading mining consultancy SRK Consulting to prepare a Power Minerals maiden resource estimate for its Santa Anna REE-Niobium Project in Brazil. This advancement represents substantial progress, occurring just nine months after acquiring the project option and three months following completion of the acquisition.

The maiden MRE will be calculated from 272 drillholes completed to date, incorporating 8,480 multi-element analyses with 1,433 quality control analyses (16.9% of total). Furthermore, the resource estimate is expected to be delivered during the current quarter and will establish a foundation for future drilling campaigns and resource upgrades.

Exceptional Drilling Results Demonstrate Resource Potential

Power Minerals has delivered impressive exploration results from the Santa Anna alkaline carbonatite complex. The company has demonstrated significant REE and niobium potential across multiple drilling campaigns.

Outstanding Rare Earth Element Intersections

The drilling programme has intersected high-grade rare earth mineralisation, including:

• 114m at 3,012ppm TREO from surface, including 16m at 5,300ppm TREO from 97m (MN-RC-028)
• 51m at 11,641ppm (1.16%) TREO from surface, including 3m at 42,592ppm (4.26%) TREO from 6m (MN-RC-0009)
• 15m at 17,173ppm (1.72%) TREO from surface, including 1m at 62,027ppm (6.20%) TREO from 4m (MN-AC-0007)

Complementary Niobium Intersections

Additionally, niobium results support the dual-commodity nature of the resource:

• 87m at 2,124ppm Nb2O5 from 24m, including 3m at 10,117ppm (1.01%) Nb2O5 from 24m (MN-RC-028)
• 76m at 3,473ppm Nb2O5 from 24m, including 26m at 5,317ppm Nb2O5 from 24m (MN-RC-045)
• 14m at 0.71% Nb2O5 from 6m, including 5m at 1.18% Nb2O5 from 14m (MN-AC-0014)

"We are excited to move forward into Resource estimation at the Santa Anna Project. This is a core asset for Power Minerals, and we are committed to expediting the delivery of value at the Project." – Mena Habib, Managing Director

Understanding Critical Materials: REE and Niobium Fundamentals

Rare Earth Elements (REEs) comprise 17 metallic elements essential for modern technology applications. These include electric vehicle motors, wind turbines, and high-technology electronics. Total Rare Earth Oxides (TREO) represents the combined concentration of all REEs in a sample.

Consequently, this provides investors with a comprehensive measure of the resource's value potential. The REE market is characterised by supply chain concentration, with China dominating global production.

This creates strategic opportunities for projects located in stable jurisdictions like Brazil. In particular, those demonstrating consistent high-grade intersections benefit from this market positioning.

Niobium, reported as Nb2O5, is classified as a critical metal. It is used primarily in high-strength steel alloys for infrastructure, aerospace, and automotive applications.

Brazil controls approximately 85% of global niobium supply. This positions the Santa Anna Project within an established production jurisdiction with proven processing capabilities and market access.

Both commodities are classified as "critical minerals" by major economies. This classification exists due to their importance in clean energy technologies and concentrated supply chains. Furthermore, this designation supports long-term demand fundamentals for well-positioned projects demonstrating economic grades and resource continuity.

Comprehensive Database and Technical Framework

The Power Minerals maiden resource estimate will incorporate drilling data from multiple campaigns spanning different methodologies and timeframes:

Technical Specifications Framework

The resource estimation will incorporate comprehensive technical parameters:

• 8,480 multi-element analyses across all drilling programmes
• 1,433 quality control analyses representing 16.9% of the total database
• Block model parameters: 40m x 40m x 5m resource blocks initially
• Full compliance with JORC Code (2012) standards

Moreover, the estimation will integrate digital elevation model data from December 2025 drone survey. The methodology includes geostatistical estimation with various cut-off grade assessments.

Strategic Timeline and Development Pathway

The maiden MRE represents the first of several major milestones planned for Santa Anna throughout 2026.

Immediate Development Schedule

The development timeline includes the following key phases:

1. Q1 2026: Power Minerals maiden resource estimate delivery (current quarter)
2. Concurrent: Major RC drilling campaign commencement
3. Future phases: MRE upgrades incorporating new drilling results

Strategic Positioning Factors

The rapid progression from option to resource estimate demonstrates focused execution capabilities. Power Minerals exercised its option to acquire the Santa Anna Project in April 2025.

Subsequently, the company completed the acquisition in December 2025. It then engaged SRK Consulting for resource estimation within nine months of initial option agreement.

The comprehensive drilling database provides a solid foundation for resource definition. Simultaneously, the planned major drilling campaign targets areas outside the existing drill-defined area.

This dual approach allows for immediate resource quantification whilst expanding exploration potential. The strategy extends capabilities beyond current boundaries effectively.

SRK Consulting brings international expertise through 40+ offices in 20 countries. This includes established operations in Brazil. However, the resource estimation will be completed in Australia, ensuring adherence to Australian reporting standards whilst leveraging local Brazilian geological knowledge.

Investment Proposition: Critical Materials Exposure

Power Minerals has positioned itself at the intersection of two major investment themes. These include critical minerals supply security and Brazilian mining jurisdiction advantages.

Key Investment Drivers

Dual commodity exposure provides portfolio diversification within the critical materials sector. REE and niobium serve different end markets whilst both benefiting from electrification and infrastructure demand trends.

Established mineralisation is demonstrated through 272 drillholes showing consistent, high-grade intersections. These results span multiple drilling methods and timeframes. The extensive database reduces geological risk whilst providing multiple targeting vectors for resource expansion.

Strategic location in Brazil offers established mining infrastructure and proven niobium processing capabilities. Additionally, it provides a stable regulatory framework. Brazil's dominance in niobium markets provides established supply chains and processing expertise.

Technical validation through independent resource estimation by globally recognised consultancy establishes credibility. This supports future financing and development activities effectively.

Competitive Positioning Analysis

The company has demonstrated exceptional execution speed. It progressed from project option to resource estimation candidate in under 12 months.

This rapid advancement suggests focused management capabilities and clear development priorities. The quality database incorporates extensive drilling with rigorous QA/QC protocols.

This approach reduces technical risk and supports confident resource estimation. The 16.9% quality control analysis rate exceeds typical industry standards. This indicates a thorough technical approach throughout the programme.

Future drilling campaigns offer additional upside potential beyond the Power Minerals maiden resource estimate. This positions investors for multiple value inflection points throughout 2026.

The resource estimate will serve as a targeting model for expanded drilling. Simultaneously, it establishes baseline resource metrics for evaluation purposes.

Market Context and Timing Considerations

Critical materials demand continues accelerating globally as electrification programmes expand across major economies. Supply chain security concerns have elevated strategic importance of projects located in stable jurisdictions.

These projects particularly benefit when located in areas with established mining sectors. The timing of the maiden MRE coincides with increasing investor focus on critical materials projects.

Power Minerals' rapid progression from acquisition to resource estimation provides visibility on management execution capabilities. The dual-commodity nature offers diversification within critical materials exposure.

Brazil's established position in global niobium markets combined with growing REE strategic importance creates favourable jurisdictional positioning. The Santa Anna Project benefits from this advantageous location.

The country's mining infrastructure and processing expertise reduce development risk. This provides advantages compared to frontier jurisdictions significantly.

Technical Excellence and Future Catalysts

The engagement of SRK Consulting validates the quality of the drilling database. It also demonstrates the company's commitment to international reporting standards.

The comprehensive technical approach incorporates multiple drilling methods and extensive quality control. This establishes confidence in resource estimation accuracy effectively.

The planned major RC drilling campaign provides immediate catalysts for resource expansion. This expansion extends beyond the Power Minerals maiden resource estimate significantly.

Targeting areas outside the existing drill-defined area offers potential for significant resource growth. The maiden estimate establishes baseline metrics for investor evaluation purposes.

Power Minerals has transformed from project option holder to resource estimation candidate in nine months. This demonstrates clear execution capabilities and focused development priorities.

The upcoming maiden MRE will provide the foundation for understanding the full scale of the Santa Anna opportunity. Planned drilling offers multiple value inflection points for investor consideration throughout the development process.

Could Power Minerals Be Your Next Critical Materials Investment?

With Power Minerals' maiden resource estimate for the Santa Anna Project set to be delivered this quarter, and a major RC drilling campaign already underway, now could be the perfect time to evaluate this rapidly advancing dual-commodity opportunity. The company's impressive progression from project option to resource estimation in just nine months, combined with exceptional high-grade REE and niobium intersections across 272 drillholes, positions PNN as a compelling critical materials play in Brazil's established mining jurisdiction. To discover how Power Minerals is leveraging its strategic Santa Anna Project to capture value from the growing critical minerals sector, and to explore the complete technical details behind their accelerated development timeline, visit www.powerminerals.com.au today.