Mauricio Neder

Big step forward for Power Metallic Mines. We’ve been awarded the Jabal Baudan exploration license in the KSA's Jabal Sayid Belt—a region known for world-class copper, gold, and zinc deposits. Let me explain why this matters: First, this isn’t just another project. Jabal Baudan is over 200 square kilometers, the largest block in the recent KSA licensing round. Strategically positioned 150 km south of Jeddah, this site sits at the heart of the Red Sea’s western mineral corridor. It's known for its VMS (volcanogenic massive sulfide) systems—the same geology hosting the Jabal Sayid Mine. Second, this marks a significant milestone not just for Power Metallic but for international mining. We're now one of the few foreign firms with an exploration license in the KSA, a country that’s been quietly transforming its mining sector as part of its Vision 2030. The KSA's not just opening doors—it’s backing them with capital and infrastructure. The Exploration Enablement Program (EEP), a $182M fund, will directly support our work at Jabal Baudan. This program provides up to $2M per project, de-risking early exploration and accelerating our path to discovery. Third, let’s talk geology. Historical work by BRGM, Riofinex, and USGS identified classic “ironstone” and siliceous volcanic rocks here—the hallmarks of VMS mineralization. Our team will leverage legacy aeromagnetic data, combined with modern exploration techniques, to zero in on high-potential targets. Why the Kingdom of Saudi Arabia, and why now? Simple: opportunity and timing. Vision 2030 isn’t just about oil diversification. It’s about modernizing every sector, including mining. From world-class infrastructure to policy clarity, the KSA is serious about becoming a major player in global mining. At Power Metallic, we’re not chasing volume. We're building a portfolio of tier-one opportunities. The KSA now joins our flagship Nisk Project in Quebec, where we're expanding one of the rare Ortho-Magmatic systems discovered in the past two decades. (For those unfamiliar, think Voisey’s Bay or Norilsk—world-class polymetallic systems with huge strategic value.) Being awarded the Jabal Baudan license reinforces what I believe is Power Metallic’s core strength: identifying and securing high-value projects in competitive, often overlooked jurisdictions. It’s not just about drilling holes. It’s about building optionality and positioning for the long term. Proud of our team and excited for what’s ahead.

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The world is taking notice of #SaudiArabia’s mining transformation — and the past two years have been nothing short of remarkable. Prestigious global reports now rank the Kingdom among the top mining investment destinations, reflecting our strong resources, bold reforms, and clear vision for the future. ► The Fraser Institute’s Annual Survey of Mining Companies 2024 report shows a historic leap in the Mining Investment Attractiveness Index — from 104th to 23rd globally in just a decade. ► MineHutte’s 2023 report named Saudi Arabia the fastest advancing country in improving its investment environment (2018–2023), ranked us #2 globally for permitting efficiency, and placed us among the top 10 for mining fiscal policies. These results demonstrate our success in building a world-class, sustainable mining sector and turning #SaudiVision2030 into reality. See more in the latest Fraser Institute and MineHutte reports. #Mining #Mineral #Exploration #MiningInvestment

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