Power Minerals Secures AU$4.1 Million Placement and Moves to Acquire High Grade Gamma Rare Earths Project.

Power Minerals Limited (ASX: PNN) has entered into an option agreement to acquire the Gamma Heavy Rare Earths (HREE) Project in California’s San Bernardino district, located near the Mountain Pass Mine, the only operating REE mine in the U.S. The Gamma Project, historically explored for gold and uranium, has revealed high-grade rare earth mineralisation with results up to 20,257ppm TREO and significant uranium intersections, including 6.25m at 1.3% U3O8. The project holds strong potential for heavy rare earths, offering strategic synergy with Power’s Santa Anna Project in Brazil.

Additionally, the company completed a AU$4.1 million placement with participation from Tribeca Investment Partners and S3 Consortium, supporting upcoming exploration, systematic sampling, and geophysical surveys. This acquisition strengthens Power’s critical minerals portfolio and aligns with the growing U.S. demand for a domestic rare earth supply chain.

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