QualityStocksNewsBreaks – Powermax Minerals Inc. (CSE: PMAX) (OTCQB: PWMXF) (FSE: T23) Enters Option Agreement to Acquire 100% Interest in Melba North Rare Earth Property in Ontario
This article has been disseminated on behalf of Powermax Minerals Inc. and may include paid advertising. Powermax Minerals (CSE: PMAX) (OTCQB: PWMXF) (FSE: T23) announced a three-year option agreement to acquire a 100% interest in the Melba North property, comprising approximately 3,360 hectares adjacent to its Hopkins rare earth elements ("REE") property in northern Ontario. Under the agreement, Powermax will make cash payments totaling C$86,000 and issue 400,000 common shares, subject to applicable exchange approval. The property is also subject to a 1.5% net smelter returns royalty, of which 0.5% may be repurchased for C$500,000. A 2025 historical drilling program…