Power Minerals (ASX: $PNN) acquires Lítio Project in Brazil

Power Minerals Limited (ASX: $PNN) has announced the acquisition of the Lítio Project in Paraiba state, Brazil. The project, covering a total area of 27km2, is highly prospective for niobium, rare earth (REE), and lithium. The acquisition consolidates Power's position as a South American-focused explorer and developer, aligning with its core focus on advancing the Salta Lithium Project in Argentina.

Executive Commentary on Lítio Project Acquisition

This is an exciting acquisition for Power as we expand our footprint and presence in South America. Through this acquisition, Power will build on the knowledge, expertise, and local networks developed during our development of the Salta Lithium Project in Argentina. Brazil is growing in stature as a sought-after location for minerals exploration and discovery, and we are delighted to have secured this project, in an emerging exploration district where ASX-listed Summit Minerals has delivered positive results from its initial field-work. Along with indications of niobium, tantalum, and rare earth results at Summit's adjacent landholding, we have identified outcropping pegmatites at surface at Lítio, which we plan to test as an initial priority. Initial samples have been collected from the site, and we will use results from their analysis to commence defining exploration targets at the Project. - Power Minerals Managing Director Mena Habib

Summary of Lítio Project Acquisition and Outlook

Power Minerals' acquisition of the Lítio Project in Brazil reinforces its South American focus and its prospects for niobium, rare earth (REE), and lithium. The project, located adjacent to Summit Minerals' Equador Niobium Project, has shown promising sampling laboratory results, indicating high-grade niobium, tantalum, and rare earth oxides. The acquisition aligns with Power's strategy to expedite field work programs at Lítio while advancing the development of its Salta Lithium Project in Argentina. The project's location in the Borborema Pegmatitic Province, with access to existing infrastructure and road access, provides a favorable environment for exploration and potential future mine development. Power's initial focus will be on defining exploration targets and conducting further sampling to identify drilling targets. The company's commitment to developing its lithium assets in Argentina and exploring the Lítio Project in Brazil reflects its dedication to delivering value from its mineral assets.