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FAQ: Powermax Minerals' Pinard Project Option Agreement and Corporate Overview
TL;DR
Powermax Minerals gains strategic advantage by acquiring 100% interest in the Pinard Rare Earths project, positioning itself in a promising REE exploration area in northern Ontario.
Powermax Minerals issued 160,000 common shares and made an $18,000 payment as part of a structured agreement to acquire the 5,178-hectare Pinard Rare Earths project over three years.
This rare earth element exploration project supports the transition to clean energy technologies by securing domestic sources of critical minerals essential for modern electronics and renewable energy systems.
The Pinard Rare Earths project lies within an alkaline igneous system comparable to nearby REE-bearing geology, offering exciting exploration potential in an accessible northern Ontario location.
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Powermax Minerals has issued 160,000 common shares and made an $18,000 initial milestone payment to property optionors as part of its Option Agreement to acquire a 100% interest in the Pinard Rare Earths project in northern Ontario.
The Pinard Project is a 255-claim, 5,178-hectare rare earths property located in northern Ontario that is accessible by all-weather road and lies within the Pinard Intrusive Rock Complex, an alkaline igneous system comparable to nearby REE-bearing geology.
The agreement includes total consideration of 320,000 shares and $90,000 in cash over three years, along with a 1.5% Net Smelter Royalty (NSR) that Powermax may reduce to 1.0% through a $500,000 buyback.
The project lies within the Pinard Intrusive Rock Complex, an alkaline igneous system typical of the Kapuskasing Sub-Province and comparable to nearby rare earth element-bearing geology, suggesting potential for REE mineralization.
Powermax holds an option to acquire the Cameron REE Property in British Columbia (2,984 hectares), an option to acquire the Atikokan REE Property in NW Ontario (455 claims), and owns 100% of the Ogden Bear Lodge Project in Crook County, Wyoming.
Powermax Minerals trades under CSE: PMAX, OTCQB: PWMXF, and FSE: T23 across different stock exchanges.
The full press release can be viewed at https://ibn.fm/T9Gd6, and more company information is available at https://powermaxminerals.com/.
Powermax Minerals Inc. is a Canadian mineral exploration company focused on advancing rare earth element projects across Canada and the United States.
This represents the first milestone payment in a three-year agreement that will require additional share issuances and cash payments totaling 320,000 shares and $90,000 to complete the 100% acquisition.
Curated from InvestorBrandNetwork (IBN)
