Nióbio Niobium, REE and Lithium Project, Brazil Power completed...

Nióbio Niobium, REE and Lithium Project,

Brazil Power completed its acquisition of Nióbio early in the period,
following successful due diligence.

The Project comprises three permits and is considered highly prospective for niobium, REE and lithium, located in Rio Grande do Norte state in Brazil.

It is located immediately adjacent to, and contiguous to Summit Minerals’ (ASX: SUM)
Equador Niobium Project,
which has returned sampling assay results of up to:

53.07% Nb2O5, 47.17% Ta2O5 and 24,760ppm (2.47%) partial rare earth oxides (PREO)1 .

Power commenced exploration work with reconnaissance sampling in different areas of the project,
which returned highgrade results across its entire length.

Highlights from sampling near the southern extent of the licence, near SUM’s Equador Project,
returned:

- 63.7% Nb2O5 and 9.5% Ta2O5 with 2354ppm partial REO2
- 43.5% Ta2O5 and 17.5% Nb2O5 with 1062ppm partial REO
- 41.3% Nb2O5 and 11.99 % Ta2O5 with 1793ppm partial REO
- 48.4% Nb2O5 and 6.3% Ta2O5 with 4975ppm partial REO.

Further sampling from three separate areas within the Nióbio project area
– in the central area of the Project,
in the northern area and near the northern boundary included:

- 40.9% Nb2O5 and 21.4% Ta2O5 in sample P0560/24
- 38.4% Ta2O5 and 11.7% Nb2O5 in sample P0561/24
- 30,040 ppm (3%) PREO in sample P0558/24
- 27,080 ppm (2.8%) PREO in sample P0556/24.

Power’s samples were collected with the same method as SUM used at Equador.

Power’s samples show very similar populations as the reported SUM samples,
with examples of Nb-rich, Ta-rich and intermediate subgroups as seen in the SUM project area.

Following this, Power conducted a LiDAR (Light Detection and Ranging) survey over the Nióbio Project area. The survey was successful and identified multiple high-quality exploration targets3 . The LiDAR survey identified several linear topographic features that may represent previously unmapped pegmatite dykes and ground disturbances linked to historical artisanal mining. This mirrors the success of LiDAR surveys conducted at neighbouring projects, including SUM’s, which generated priority exploration targets.

Power commenced diamond drilling at Nióbio on December 15, 2024 following receipt of access.
Power selected target pegmatites for this initial drill program based on site visits
and examination of its sample results by its Australian and Brazilian exploration teams.

Most of the target pegmatites have some degree of artisanal mining,
providing at or near surface exposure of the pegmatite mineralogy as well as providing samples.

The pegmatites are hosted in either mica schist or quarzitic sandstone, providing excellent visual recognition of pegmatites.

As at 18 February 2025, Power had completed ten holes (PMB24-01 to PMB25-10) at Nióbio.
Results are expected in March / April 2025.