Power Metal Resources PLC

15 December 2021

15 December 2021

Power Metal Resources PLC

("Power Metal" or the "Company")

Golden Metal Resources - Communications Update

Power Metal Resources plc (LON:POW) the AIM listed metals exploration and development company provides a communications update for Golden Metal Resources Limited ("Golden Metal" or "GMT") in which the Company has an 83.13% interest.

Golden Metal is a Nevada, USA, focused exploration and development company and is undertaking a planned listing on the London capital markets targeting April 2022.

Golden Metal recently raised GBP750,000 in Pre-IPO financing and further information in respect of this is available through the following link:


Launch of New Website and Corporate Presentation

With the progress made across the Golden Metal project portfolio in recent months, and the various commercial developments including the completion of the pre-IPO financing, Power Metal and Golden Metal have been working on marketing and communications materials as exemplified in the new website and corporate presentation launched today.

The Golden Metal website is now available through the following link:


The Golden Metal corporate presentation may be accessed directly through the following link:


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 
SP Angel Corporate Finance (Nomad and Joint Broker) 
Ewan Leggat/Charlie Bouverat                          +44 (0) 20 3470 0470 
SI Capital Limited (Joint Broker) 
Nick Emerson                                          +44 (0) 1483 413 500 
First Equity Limited (Joint Broker) 
David Cockbill/Jason Robertson                        +44 (0) 20 7330 1883 


Power Metal Resources plc (LON:POW) is an AIM listed metals exploration company which finances and manages global resource projects and is seeking large scale metal discoveries.

The Company has a principal focus on opportunities offering district scale potential across a global portfolio including precious, base and strategic metal exploration in North America, Africa and Australia.

Project interests range from early-stage greenfield exploration to later-stage prospects currently subject to drill programmes.

Power Metal will develop projects internally or through strategic joint ventures until a project becomes ready for disposal through outright sale or separate listing on a recognised stock exchange thereby crystallising the value generated from our internal exploration and development work.

Value generated through disposals will be deployed internally to drive the Company's growth or may be returned to shareholders through share buy backs, dividends or in-specie distributions of assets.

Power Metal Exploration Programmes Underway/Results Awaited

Power Metal has exploration programmes completed or underway, with results awaited, as outlined below:

       Project         Location      POW %          Work Completed             Results Awaited 
                                                      or Underway 
 Alamo Gold               USA       Earn-in    Excavation of multiple      Field results from 
  Project                            to 75%     test pits and mapping       on-site work programme. 
                                                & sampling. 
                      ----------  ----------  --------------------------  ------------------------- 
 Athabasca              Canada       100%      Phase I field exploration   Laboratory assay 
  Uranium                                       completed                   results of samples 
                                                                            collected for uranium 
                                                                            and REEs 
                      ----------  ----------  --------------------------  ------------------------- 
 Authier North          Canada      Earn-in    Soil & rock sampling        Laboratory assay 
  Lithium                           to 100%     completed                   results of samples 
                      ----------  ----------  --------------------------  ------------------------- 
 Ditau Project         Botswana       50%      Preparatory exploration     Field programme 
                                                work underway on            findings and defined 
                                                target I10 leading          drill targets for 
                                                to planned accelerated      near term drilling. 
                                                drilling targeting 
                                                rare-earth elements 
                                                and base metals 
                      ----------  ----------  --------------------------  ------------------------- 
 Kalahari Copper       Botswana       50%      Exploration programme       Field programme 
  Belt                                          underway across             findings and defined 
                                                the South Ghanzi            drill targets for 
                                                Project and further         near term drilling 
                                                exploration at 
                                                the more recently 
                                                acquired South 
                                                Ghanzi Extension 
                                                and Mamuno licence 
                      ----------  ----------  --------------------------  ------------------------- 
 Molopo Farms          Botswana       53%      Kavango Option              Results from various 
                                                to acquire an interest      work activities 
                                                in local project            underway as part 
                                                holding company.            of the Kavango 
                                                Option fee payable          Option 
                                                through defined 
                                                work programme 
                      ----------  ----------  --------------------------  ------------------------- 
 Tati Gold/Nickel      Botswana      100%      Reverse circulation         Laboratory assay 
                                                drill programme             results awaited 
                      ----------  ----------  --------------------------  ------------------------- 
 Victoria Goldfields   Australia     49.9%     Ongoing exploration         Results from field 
                                                across 848km(2)             programme including 
                                                of granted exploration      drill programme 
                                                licences                    underway 
                      ----------  ----------  --------------------------  ------------------------- 
 Wallal Gold/Copper    Australia   83.33%(1)   Passive seismic             Results awaited 
  Project                                       and 2D seismic 
                                                processing work 
                                                programme completed 
                      ----------  ----------  --------------------------  ------------------------- 

(1) assuming all licences held by URE Metals Pty Limited are granted as outlined in the Company's announcement of 19.11.21 resulting in the issue of First Development Resources Ltd shares to URE vendors.

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(END) Dow Jones Newswires

December 15, 2021 07:30 ET (12:30 GMT)

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