Power One Receives Drill Permit to Deep Test Pecors Magnetic Anomaly

Permit provides for drilling from two approved drill locations as Power One advances planned approximately 1,500-metre deep test of the Zd1 geophysical target

VANCOUVER, British Columbia, Sept. 16, 2026 (GLOBE NEWSWIRE) — Power One Resources Corp. ( TSXV: PWRO ) (“ Power One ” or the “ Company “) is pleased to announce that it has received the exploration permit required to advance diamond drilling at its 100%-owned Pecors Project, located approximately 14 kilometres east of Elliot Lake, Ontario.

The receipt of the permit represents a significant milestone in the Company’s plan to return to Pecors and undertake a materially deeper test of the large Pecors magnetic anomaly.

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As previously announced, Power One’s initial priority is a single vertical diamond drill hole approximately 1,500 metres in depth, designed to test the deep-seated (Zd1 ) geophysical anomaly identified through three-dimensional inversion modelling of historical ZTEM resistivity data.

The permit provides for mechanized diamond drilling from two approved drill pad locations, providing the Company with flexibility to undertake additional drilling from the permitted locations as geological information, exploration results and technical interpretation warrant.

“Receiving the drill permit moves Pecors into the next stage of exploration,” commented Wazir Khan, CEO and Director of Power One . “Previous drilling confirmed that the Pecors magnetic system contains gabbroic rocks with nickel, copper and PGE mineralization, but subsequent geophysical work identified deeper targets that were not adequately tested by those holes. Our immediate objective is to drill approximately 1,500 metres and directly test the Zd1 target at depth. Every phase of exploration has added another layer of understanding of this system.”

The Pecors magnetic anomaly is a large regional magnetic high measuring approximately 12 kilometres long by 4 kilometres wide, the majority of which is concealed beneath thick sequences of Huronian sedimentary rocks.

Multiple generations of exploration and geophysical work have progressively developed the geological model at Pecors.

A helicopter-borne VTEM magnetic and electromagnetic survey completed by Geotech in 2008 identified several electromagnetic anomalies.

Lake-sediment sampling conducted by the Ontario Geological Survey in 2010 identified a Ni-Cu-Co anomaly in Pecors Lake, interpreted as potentially originating from a nearby source.

A 2011 three-dimensional inversion of the magnetic survey data subsequently suggested a large trough-like magnetic body extending to depths exceeding approximately 1,700 metres.

Figure 1. The large Pecors magnetic anomaly within the Power One Pecors Project area.

Two deep holes drilled in 2015 provided the first significant subsurface test of the Pecors magnetic anomaly.