Company Announcements

TORONTO , Feb. 19, 2026 /PRNewswire/ - Chilean Metals Inc. ("Chilean Metals" or the "Company") is pleased to announce that it has commenced trading on the TSX Venture Exchange (the "TSXV") under the symbol "CMCG".

The Company has filed a detailed TSXV listing application dated February 9, 2026 in Form 2B on www.sedarplus.ca, which includes comprehensive disclosure regarding the Company, its management team, capitalization, and its principal business of mineral exploration. The Company's current flagship asset is the 100%-owned Golden Ivan property in British Columbia, complemented by a portfolio of earlier-stage exploration interests in Chile across multiple prospective districts of the American Cordillera.

The Form 2B, the Company's financial statements, and its technical report on the Golden Ivan project are available on SEDAR+. Interested parties are encouraged to review the Form 2B in its entirety.

A Strong Asset Base Across Two Prospective Cordilleran Belts

Chilean Metals was created through a spin-out from Power Metallic Mines Inc. (TSXV: PNPN) (OTCBB: PNPNF) (Frankfurt: IVV1) in February 2025, At time of spin out ownership was 50% Power Metallic and 50% the Power Metallic shareholders of record January 31 2025. The new Company was created with a focused exploration mandate and a project portfolio spanning two of the most geologically fertile mining belts in the Americas:

• British Columbia, Canada – Golden Ivan (Flagship): The Golden Ivan property is located near Terrace, British Columbia and comprises 13 mineral claims totaling 797 hectares. Golden Ivan provides the Company with a near-term exploration focus in one of Canada's premier mineral jurisdictions, with established access to infrastructure, a deep regional talent pool, and a long history of discovery and mine development across the broader northern British Columbia and Golden Triangle.
  
  
• Chile – Portfolio of Exploration Interests: In addition to Golden Ivan, Chilean Metals holds claims in the Zulema, Tierra de Oro, Palo Negro, Hornitos, and Tabaco projects located in Chile totalling 11,177 hectares. This portfolio provides the Company with exposure to a premier Andean metallogenic province, offering multiple optionality pathways as the Company evaluates target prioritization, technical work programs, and potential partnership structures.

CEO Comment

"Listing on the TSX Venture Exchange is an important milestone for Chilean Metals and a key step in broadening our visibility and access to capital as we advance our exploration strategy," said Conor Lynch, CEO and Director of Chilean Metals Inc. "We're excited to be leveraging our deep back bench of geological talent and the latest exploration technology across two of the most prospective regions in the American Cordillera. With Golden Ivan as our flagship property in British Columbia and a compelling set of assets in Chile, we believe we are well positioned to build a focused exploration company with meaningful discovery upside."

About Chilean Metals Inc.

On February 3, 2025, Chilean Metals completed a plan of arrangement with Power Nickel Inc. (now called Power Metallic Mines Inc.), pursuant to which it acquired a 100% legal and beneficial interest in the Golden Ivan property. The Golden Ivan property is located in Terrace, British Columbia and comprises 13 mineral claims covering a total area of 797 hectares. This property hosts two (2) known mineral showings (Gold Ore, and Magee), and a portion of the past producing Silverado Mine, which was reportedly exploited between 1921 and 1939. These mineral showings are described to be Polymetallic veins that contain mineralization of Silver, Lead, Zinc +/- Gold +/- Copper. Chilean Metals also owns interests in the Zulema, Tierra de Oro, Palo Negro, Hornitos and Tabaco projects located in Chile totaling 11,117 hectares.

About Power Metallic Mines Inc.

Power Metallic is a Canadian exploration company focused on advancing the Nisk Project Area (Nisk–Lion–Tiger)—a high–grade Copper–PGE, Nickel, gold and silver system—toward Canada's next polymetallic mine.

On 1 February 2021, Power Metallic (then Chilean Metals) secured an option to earn up to 80% of the Nisk project from Critical Elements Lithium Corp. (TSX–V: CRE). Following the June 2025 purchase of 313 adjoining claims (~167 km²) from Li–FT Power, the Company now controls ~212.86 km² and roughly 50 km of prospective basin margins.

Power Metallic is expanding mineralization at the Nisk and Lion discovery zones, evaluating the Tiger target, and exploring the enlarged land package through successive drill programs.

Beyond the Nisk Project Area, Power Metallic indirectly has an interest in significant land packages in British Columbia and Chile, by its 50% share ownership position in Chilean Metals Inc., which were spun out from Power Metallic via a plan of arrangement on February 3, 2025.

It also owns 100% of Power Metallic Arabia which owns 100% interest in the Jabul Baudan exploration license in The Kingdon of Saudi Arabia's JabalSaid Belt. The property encompasses over 200 square kilometres in an area recognized for its high prospectivity for copper gold and zinc mineralization. The region is known for its massive volcanic sulfide (VMS) deposits, including the world-class Jabal Sayid mine and the promising Umm and Damad deposit.

For further information, readers are encouraged to contact:
Power Metallic Mines Inc.
The Canadian Venture Building
82 Richmond St East, Suite 202
Toronto, ON

Neither the TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.

Cautionary Note Regarding Forward-Looking Statements

This message contains certain statements that may be deemed "forward-looking statements" concerning the Company within the meaning of applicable securities laws. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects," "plans," "anticipates," "believes," "intends," "estimates," "projects," "potential," "indicates," "opportunity," "possible" and similar expressions, or that events or conditions "will," "would," "may," "could" or "should" occur. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance, are subject to risks and uncertainties, and actual results or realities may differ materially from those in the forward-looking statements. Such material risks and uncertainties include, but are not limited to, among others; the timing for various drilling plans; the ability to raise sufficient capital to fund its obligations under its property agreements going forward and conduct drilling and exploration; to maintain its mineral tenures and concessions in good standing; to explore and develop its projects; changes in economic conditions or financial markets; the inherent hazards associates with mineral exploration and mining operations; future prices of nickel and other metals; changes in general economic conditions; accuracy of mineral resource and reserve estimates; the potential for new discoveries; the ability of the Company to obtain the necessary permits and consents required to explore, drill and develop the projects and if accepted, to obtain such licenses and approvals in a timely fashion relative to the Company's plans and business objectives for the applicable project; the general ability of the Company to monetize its mineral resources; and changes in environmental and other laws or regulations that could have an impact on the Company's operations, compliance with environmental laws and regulations, dependence on key management personnel and general competition in the mining industry.

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SOURCE Power Metallic Mines Inc.