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Highlights

  • PNPN has received the exploration license for the 200 km² Jabal Baudan property in Saudi Arabia’s Jabal Sayid Belt.
  • The company will benefit from Saudi Arabia’s Exploration Enablement Program, which provides up to USD 2 million per license.
  • PNPN plans to explore for copper, gold, and zinc within a VMS-style geological setting near established deposits.

Power Metallic Mines Inc. (TSXV:PNPN) focuses on mineral exploration and development across North and South America, with a portfolio of projects targeting base and precious metals.

The company has been granted an exploration license for the Jabal Baudan project in the Jabal Sayid Mineralized Belt of Saudi Arabia. The license was awarded through a competitive bidding process and makes Power Metallic one of the few non-domestic entities to hold mining rights in the Kingdom.

Located approximately 150 kilometres south of Jeddah, the Jabal Baudan property spans over 200 square kilometres, making it the largest parcel among seven offered in the region. The Jabal Sayid belt is well known for its mineral potential, particularly for copper, gold, and zinc associated with volcanogenic massive sulphide (VMS) systems. The area hosts significant mineral assets including the Jabal Sayid Mine and Umm ad Damar deposit.

The Jabal Baudan site is underlain by late Proterozoic volcanic and sedimentary rocks, intruded by younger plutonic formations. Previous work in the area, conducted between 1966 and 1985 by the BRGM, Riofinex, and USGS, identified siliceous volcanic rocks and ironstone, features typically associated with mineralizing VMS systems. Power Metallic plans to integrate historical geological and aeromagnetic survey data into its exploration strategy to define priority targets.

The property’s location offers logistical advantages due to proximity to established infrastructure along Saudi Arabia’s western coast. According to Dr. Remi Piet, Senior Partner at Embellie Advisory, the site’s accessibility and early sampling results suggest diverse mineral potential, aligning well with the Kingdom’s economic diversification goals under Vision 2030.

Exploration at Jabal Baudan will be supported by Saudi Arabia’s Exploration Enablement Program (EEP) a USD 182 million initiative launched to reduce investment risk and stimulate foreign participation in the mining sector. Under the EEP, Power Metallic may receive up to USD 2 million in exploration support for this license, part of a broader effort to issue up to 15 licenses per participant. The program aims to promote collaboration between the Saudi government and foreign investors, enhance geological knowledge, and develop sustainable exploration practices.

The company’s initial exploration phase will begin with data compilation and reconnaissance, followed by more detailed investigations in areas identified as high priority. Advanced exploration technologies will be used, with a stated commitment to adhere to international environmental and operational standards.

This Saudi license expands Power Metallic’s geographical reach beyond its existing projects in Canada and Chile. In Canada, the company controls over 212 km² of prospective land through its Nisk Project Area in Québec, targeting nickel, copper, PGE, gold, and silver mineralization. The company has an option agreement with Critical Elements Lithium Corp. to earn up to 80% of the project. It has also recently acquired 313 claims from Li-FT Power to further expand its exploration footprint.

In addition, Power Metallic retains indirect interests in British Columbia and Chile via a 50% shareholding in Chilean Metals Inc., which was spun out from Power Metallic through a corporate reorganization completed in February 2025.