Toronto, Ontario--(Newsfile Corp. - March 12, 2026) - Powermax Minerals Inc. (CSE: PMAX) (OTCQB: PWMXF) (FSE: T23) ("Powermax" or the "Company") is pleased to report encouraging rare earth element (REE) results from recent soil and surface rock sampling programs at its Cameron REE Property, located approximately 40 km south of Revelstoke, British Columbia, along Highway 23 near the Columbia River. The results indicate the presence of rare earth element mineralization associated with NYF-type pegmatites and define multiple priority exploration targets for follow-up work.

Soil Sampling Results

The Company completed a soil geochemical sampling program over priority areas of the Cameron REE claims. The program returned Total Rare Earth Oxide (TREO) values ranging from approximately 135 ppm to 2,840 ppm, with an average value of approximately 340 ppm TREO. Several samples returned strong anomalous TREO values exceeding 400 ppm, with the highest value reaching 2,840 ppm TREO.

The soil results outline a north-south trending corridor of elevated REE values extending for more than one kilometre, coincident with mapped pegmatites and historical thorium-uranium occurrences in the Cameron (Jenkins) showing areas. According to the TREO anomaly map, clusters of highly anomalous samples occur within the Cameron REE 2 claim block, suggesting the presence of a potential bedrock REE source beneath shallow overburden.

Figure 1 Showing Rock Samples TREO assays

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Surface Rock Sampling Results

Follow-up prospecting and rock sampling of pegmatite exposures anomalous REE values, indicating the presence of REE mineralization in bedrock.

Surface rock samples returned TREO values ranging from less than 36 ppm to 740 ppm TREO, with several samples exceeding 100 ppm TREO. The highest rock sample returned 741 ppm TREO, while additional samples returned values between 526 ppm and 741 ppm TREO.

Clusters of anomalous rock samples occur along the Highway 23 corridor within the Cameron REE 3 claim block, as well as near the Cameron (Jenkins 1) showing, where historical thorium-uranium mineralization has been documented. The spatial association of these anomalous rock samples with soil anomalies suggests potential for REE-bearing pegmatite bodies underlying the soil geochemical anomalies.

Rock samples are selective grab samples and may not represent average grades of mineralization on the property.

Figure 2 Showing Soil Samples TREO assays

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Paul Gorman, Chief Executive Officer of Powermax Minerals Inc., commented:

"These results represent an important milestone in advancing the Cameron REE project. The strong correlation between soil geochemical anomalies and anomalous REE values from surface rock and previously reported stream sediment sampling (see Feb 5, 2026 news release) indicates the potential for a pegmatite system prospective for REE mineralization on the property. Our next exploration program will focus on defining the bedrock sources of these anomalies and advancing the most prospective targets toward drilling."

Sampling and Analytical Methods

Sampling, Analytical Methods and QA/QC

Soil samples were collected from the B-horizon where possible at depths of approximately 10-30 cm using hand tools. Approximately 0.5-1.0 kg of material was placed in labeled kraft sample bags. Sample locations were recorded using handheld GPS units.

Rock samples were collected during prospecting of pegmatite outcrops and mineralized float across the property. Rock samples consisted of selective grab samples weighing approximately 1-2 kg and were collected using a geological hammer. Grab samples are selective in nature and may not represent average grades of mineralization. Handheld scintillometers were used as prospecting tools due to affiliation of REE mineralization with higher radioactivity.

Samples were submitted to AGAT Laboratories Ltd., Calgary, Alberta, an ISO/IEC 17025:2017 accredited independent laboratory, for preparation and analysis using the 201-380 Metals Package. Quality assurance and quality control procedures included the insertion of field duplicates. At the laboratory, rock samples were dried, crushed to approximately 70% passing 2 mm, and pulverized to 85% passing 75 microns. Soil samples were dried and sieved to obtain the fine fraction (typically -80 mesh). Samples were analyzed for rare earth elements using sodium peroxide fusion followed by ICP-OES/MS analysis, which provides near-total digestion for REE determination. Quality assurance and quality control procedures included the insertion of field duplicate samples into the sample stream at regular intervals. Laboratory internal QA/QC procedures were also applied.

About the Cameron REE Project

The Cameron Rare Earth Element Project covers approximately 2,984 hectares in the Kamloops Mining Division, British Columbia. The property lies within the Monashee Group, a metamorphic and granitic terrane known to host REE-bearing pegmatites, carbonatite zones, and altered gneisses. Rare earth mineralization is associated with shear zones and structurally controlled pegmatitic intrusions enriched in both light (LREE) and heavy (HREE) elements.

Qualified Person

The technical information contained in this news release has been reviewed and approved by Afzaal Pirzada, P.Geo., who is a director of the Company and a Qualified Person under National Instrument 43-101 - Standards of Disclosure for Mineral Projects.

About Powermax Minerals Inc.

Powermax Minerals Inc. is a Canadian mineral exploration company focused on advancing rare earth element projects. The Company holds an option to acquire the Cameron REE Property, comprising three mineral claims totaling approximately 2,984 hectares in British Columbia. Powermax also optioned to acquire the Atikokan REE Property, consisting of 455 unpatented mining claims in NW Ontario. Powermax also optioned to acquire the 5178-hectare Pinard REE in Northern Ontario. Powermax also owns a 100% interest in the Ogden Bear Lodge Project, in Crook County, Wyoming.

Forward-Looking Statements

This news release may contain 'forward-looking statements' within the meaning of applicable Canadian securities legislation. Forward-looking statements are based on current expectations and assumptions of management and are subject to known and unknown risks, uncertainties, and other factors that may cause actual results, performance, or achievements to differ materially from those expressed or implied. Such statements include, but are not limited to, statements regarding potential mineralization, exploration plans, timing of activities, and future exploration results. Readers are cautioned not to place undue reliance on these forward-looking statements. Powermax Minerals Inc. disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events, or otherwise, except as required by applicable securities laws.

Neither the Canadian Securities Exchange nor its Market Regulator (as defined in CSE policies) accepts responsibility for the adequacy or accuracy of this news release.

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Source: Powermax Minerals Inc.