Power Metal (POW.L) Golden Metal Resources – Exploration Update

Major Gold, Tungsten and Copper Targets Identified

Power Metal Resources PLC (LON: POW) the London listed exploration company seeking large-scale metal discoveries across its global project portfolio announces an exploration update in respect of its wholly-owned subsidiary Golden Metal Resources Limited (“Golden Metal”), focused on Nevada, USA and which is currently seeking an independent listing on the London markets.

Paul Johnson, Chief Executive Officer of Power Metal Resources plc, commented:

“It is abundantly clear from our exploration work to date that the Golden Metal project portfolio hosts several underexplored, highly prospective, gold, tungsten, copper and silver exploration targets.

We believe that the Pilot Mountain project holds the potential to substantially increase the existing JORC (2012) compliant Resource and also the potential to expand on the multiple copper-rich zones identified by limited historical drilling to the east of Desert Scheelite and Good Hope.

Golconda Summit, positioned in a neighbourhood of dramatic scale Carlin-type gold deposits, has the potential for another major gold discovery within the underexplored Golconda Thrust lower plate strata on the Project; evidenced by the considerable gold mineralisation found historically within the thrust’s upper plate rocks on the Golconda Summit Project – which are not typically known as good hosts for Carlin-type gold mineralisation across Northern Nevada . As a result, our main goals are to test the favourable lower thrust plate rocks on the Golconda Summit Project as soon as possible.

Whilst our focus justifiably will be on Pilot Mountain and Golconda Summit, we are also seeing extremely strong findings from our work at the Garfield and Stonewall projects. There is clearly also great value in both projects and we will ensure sufficient work is undertaken expeditiously to better understand the potential offered by each.

Power Metal is preparing for the listing of Golden Metal Resources in London, and corporate work in this regard is progressing at pace. A further corporate update will follow in due course.”

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For further information please visit https://www.powermetalresources.com/ or contact:

Power Metal Resources plc

Paul Johnson (Chief Executive Officer)

+44 (0) 7766 465 617

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