Toronto – October 05, 2026 -- Power Metallic Mines Inc. (TSXV: PNPN) (OTCBB: PNPNF) (Frankfurt: IVV1) has appointed BBA Inc. as lead engineering consultant for the Preliminary Economic Assessment (PEA) of the Lion and Nisk Main deposits at its Nisk Project in Québec's Eeyou Istchee James Bay territory, with completion targeted for the first half of 2027.
BBA to lead mine design, cost and infrastructure assessment for Lion and Nisk Main
The PEA will evaluate mining and processing options, infrastructure requirements, and capital and operating costs, using the September 8, 2026 Mineral Resource Estimate as its basis and focusing primarily on the high-grade Lion deposit. Study mobilization began in late September, with substantive engineering work starting in October. CEO Terry Lynch said BBA's multidisciplinary capabilities and Québec presence make the firm "well suited to lead the PEA."
SGS Canada to handle geological and metallurgical reporting as GeoVector retains central role
GeoVector Management Inc. will retain its central geological role, while independent qualified persons from SGS Canada Inc. will handle the geological, mineral resource and metallurgical sections of the technical report. New metallurgical studies from SGS on the Nisk Main deposit are expected before year-end, informing its role in the development concept.
Drilling at Lion Deeps continues alongside PEA engineering work
Ongoing drilling at Lion Deeps, the down-dip extension below the current Lion resource, will continue in parallel with the study, alongside additional resource development indicated by an ongoing Muon survey. Drilling results after the September 8 data cut-off, including those announced September 22, 2026, will be reviewed with SGS and BBA as the study advances.
Environmental baseline and community engagement programs run in parallel with engineering
The environmental baseline program, led by Nemaska Resources with support from Groupe Synergis — part of BBA since May 2025 — began in January 2026, with its first field season running from May to October 2026 and a second planned for summer 2027. Québec-based firm ethos stratégie Inc., based in Rouyn-Noranda, has been appointed to support stakeholder mapping and community engagement with local businesses, Indigenous groups and government representatives.
Company funds PEA and associated programs from existing cash resources
Power Metallic said the PEA and associated environmental, technical and community engagement programs are funded entirely from its existing cash resources, without disclosing a specific budget figure.