Power Metallic Mines (TSXV: PNPN | OTCQB: PNPNF) - Polymetallic Breakout Stock for 2026

Power Metallic Mines Inc., formerly Power Nickel Inc., is entering 2026 with one of the most compelling polymetallic and critical-minerals narratives in the junior mining sector. The company's evolution reflects the expanding scope of its discoveries, which now span copper, nickel, platinum group metals (platinum and palladium), gold, silver, lithium, rare earth elements (REEs), and other battery and strategic minerals-a combination tightly aligned with electrification, energy security, and advanced industrial demand.

In 2024, Power Metallic was recognized as a TSX Venture Top 50 performer, ranking #1 among mining companies and #4 overall, a distinction that brought the story onto the radar of both institutional and retail investors. That momentum has been carried forward as technical results continue to validate the company's flagship Quebec discovery.

Lion Zone Metallurgy: A Defining De-Risking Event

In its most recent press release, Power Metallic reported exceptional initial metallurgical results from testing conducted by SGS Canada Ltd. on representative samples of Lion Zone mineralization. An initial Lock Cycle Test produced a clean sulphide concentrate grading 25.8% copper, with metal recoveries that exceeded the company's most optimistic expectations prior to test work.

Reported recoveries included:

* 98.9% Copper
* 93.9% Palladium
* 96.8% Platinum
* 85.0% Gold
* 88.9% Silver

These results are particularly significant because they demonstrate that the Lion mineralization responds extremely well to conventional sulphide concentration methods, reinforcing the project's potential development pathway at a very early stage.

As previously outlined by the company, copper mineralization at Lion is hosted in coarse-grained chalcopyrite and cubanite, mineral textures that are well known for strong flotation performance. While copper was expected to recover efficiently, the metallurgical program was specifically designed to evaluate the recovery potential of PGMs, gold, silver, and nickel-and the outcomes confirmed robust multi-metal recovery across the board.

Understanding the Lion Deposit: High-Grade and Low-Grade Zones

Drilling at Lion has defined two distinct styles of mineralization:

* A High-Grade (HG) Zone, and
* A Low-Grade (LG) Zone, both extending across strike and down plunge.

To ensure representative testing, Power Metallic compiled drill-core reject material from across the deposit and prepared three metallurgical composites:

* High-Grade composite (103 samples from 15 drill holes)
* Low-Grade composite (99 samples from 10 drill holes)
* Blended composite, based on a roughly 50/50 modeled volume ratio

This approach strengthens confidence that the metallurgical results reflect the overall Lion system, not just isolated high-grade intervals-a key consideration for investors assessing scale and future economics.

Nisk-Lion-Tiger: A Polymetallic + Rare Earths District

The Lion Zone is part of the broader Nisk-Lion-Tiger project cluster in Quebec, which has evolved from an initial nickel-copper thesis into a district-scale polymetallic system. In addition to copper and nickel, the project hosts platinum, palladium, gold, silver, cobalt, and potential rare earth element associations, positioning it at the crossroads of:

* Battery and EV supply chains (nickel, cobalt, lithium, REEs)
* Electrification infrastructure (copper)
* Hydrogen, catalysts, and advanced manufacturing (PGMs)
* Precious-metal value leverage (gold and silver)
* Computer Chips and Infrastructure (silver)

This multi-metal exposure broadens the investor base and increases the number of potential valuation catalysts as the story advances.

Why the Power Metallic Rebrand Matters

The transition from Power Nickel to Power Metallic Mines was a strategic signal to the market. The company's name now reflects the reality on the ground: a multi-commodity discovery with relevance across several high-growth sectors. In an environment where capital increasingly flows toward critical minerals and rare earths, that broader identity strengthens peer comparisons and long-term relevance.

What the Market Is Watching Next

With standout metallurgical validation now in hand, investors are focused on:

* Continued drilling and step-out results across Lion, Nisk, and Tiger
* Further metallurgical optimization, including nickel and blended-ore performance
* Advancement toward resource definition, leveraging consistent recoveries
* Expansion of the critical-minerals and REE narrative within a secure Canadian jurisdiction

Power Metallic Mines has emerged as a high-profile polymetallic explorer with demonstrated technical strength. The latest Lion Zone metallurgical results-highlighted by near-total copper recovery and exceptional PGM performance-mark a meaningful de-risking milestone. Combined with TSXV-leading performance, district-scale upside, and exposure to copper, nickel, PGMs, gold, silver, lithium, rare earths, and other critical minerals, the company is increasingly viewed as a name investors may want to accumulate, follow closely, or keep firmly on their 2026 watchlist.Looking ahead, the market is focused on continued drill results, resource growth, and additional technical milestones, alongside a potential NYSE uplisting expected in 2026, which could significantly expand institutional access and trading liquidity. As demand accelerates for secure supplies of copper, PGMs, battery metals, and rare earths, Power Metallic Mines is increasingly viewed as a polymetallic breakout story to watch closely in 2026.

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