Powermax Minerals Announces Closing of Private Placement Offerings

Vancouver, British Columbia--(Newsfile Corp. - September 18, 2025) - Powermax Minerals Inc. (CSE: PMAX) (the "Company") is pleased to announce that it has completed a non-brokered private placement offering (the "Non-FT Private Placement") of 5,697,000 units of the Company ("Non-FT Units") at a price of $0.35 per Non-FT Unit, for aggregate gross proceeds of $1,993,950. Each Non-FT Unit consists of one common share of the Company ("Share") and one Share purchase warrant ("Warrant"), with each Warrant entitling the holder to purchase one Share at an exercise price of $0.46 for a period of 24 months from the date of issuance.

The Company is also pleased to announce that it has completed a non-brokered private placement offering (the "FT Private Placement", and together with the Non-FT Private Placement, the "Private Placement Offerings") of 2,351,476 flow-through units of the Company ("FT Units") at a price of $0.42 per FT Unit, for aggregate gross proceeds of $987,619.92. Each FT Unit consists of one Share ("FT Share") and one (non-flow-through) Share purchase warrant ("FT Warrant"), with each FT Warrant entitling the holder to purchase a (non-flow-through) Share at an exercise price of $0.50 for a period of 24 months from the date of issuance.

The FT Shares are intended to qualify as "flow through shares" within the meaning of the Income Tax Act (Canada) (the "Tax Act"). The proceeds from the sale of the FT Shares will be used to incur "Canadian exploration expenses" that are intended to qualify as "flow-through mining expenditures" as those terms are defined in the Tax Act.

In conjunction with the Offering, the Company paid an aggregate of $83,433 in finder's fees and issued 214,620 non-flow-through finder's warrants and 19,800 flow-through finder's warrants to finders. Each non-flow-through finder's warrant is exercisable into one Share at a price of $0.46 for a period of 24 months from the date of issuance. Each flow-through finder's warrant is exercisable into one Share at a price of $0.50 for a period of 24 months from the date of issuance.

Proceeds from the sale of the Non-FT Units are intended to be used for general working capital purposes and to fund exploration work on the Cameron rare-earth element ("REE") property, located in British Columbia, and the Atikokan REE property, located in Ontario both on which the Company holds options to acquire. Proceeds from the sale of the FT Units are intended to be used to incur "Canadian exploration expenses" that qualify as "flow-through critical mineral mining expenditures" as such terms are defined in the Tax Act.

All securities issued under the Private Placement Offerings are subject to a statutory hold period of four months and one day.

The securities described herein have not been and will not be registered under the United States Securities Act of 1933, as amended, or under any U.S. state securities laws, and may not be offered or sold in the United States absent registration or available exemptions from such registration requirements. This press release does not constitute an offer to sell or a solicitation of an offer to buy any securities in the United States, or in any jurisdiction in which such offer, solicitation or sale would be unlawful.

ON BEHALF OF THE BOARD OF DIRECTORS

"Paul Gorman"

CEO and Director
paulgorman70@gmail.com

About Powermax Minerals Inc.

Powermax is a Canadian mineral exploration company, holding options to acquire the Cameron REE property, located in British Columbia, and the Atikokan REE property, located in Ontario.

Forward-Looking Statements

This news release contains forward-looking statements and other statements that are not historical facts. Forward-looking statements are often identified by terms such as "will", "may", "should", "anticipate", "expects" and similar expressions. All statements other than statements of historical fact, included in this news release are forward-looking statements that involve risks and uncertainties. Such statements in this news release include, but are not limited to, the statements with respect to the intended use of proceeds of the Private Placement Offerings, intended use of funds to conduct operations over the next 12 months, conducting future exploration and potential acquisitions and financing transactions. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company.

Important factors that could cause actual results to vary from forward-looking statements or may affect the operations, performance, development and results of the Company's business include, among other things that mineral exploration is inherently uncertain and may be unsuccessful in achieving the desired results; that mineral exploration plans may change and be re-defined based on a number of factors, many of which are outside of the Company's control; the Company's ability to access sources of debt and equity capital; competitive factors, pricing pressures and supply and demand in the Company's industry. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date of this news release and the Company will update or revise publicly any of the included forward-looking statements as expressly required by applicable law.

The Canadian Securities Exchange (CSE) has not reviewed, approved, or disapproved the contents of this press release.

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