Mr. Johnathan More of Power Metals reports

POWER METALS COMMENCES MAPPING PROGRAMS AT ADDITIONAL PROPERTIES

Power Metals Corp. has begun a geological mapping program at Paterson Lake, 60 kilometres north of Kenora, Ont. The geological mapping program at Paterson Lake will be followed by one at Gullwing-Tot Lakes, located 30 kilometres northeast of Dryden, Ont. The purpose of the mapping program at both properties is to confirm the location of the known spodumene/petalite pegmatite dike outcrops and historical drill collars for a future drill program and to locate additional lithium mineralization.

Dr. Julie Selway, vice-president of exploration, stated: "While we wait for the commencement of our large-scale drilling program at our Case Lake property, we are very fortunate to have these two additional properties in our arsenal. We look forward to drilling these properties once mapping is completed."

Highlights of the Paterson Lake property include:

• Seven named petalite pegmatite dikes on the property and up to 50 unnamed pegmatite occurrences that require investigation;
• 11 historical drill holes were drilled by Tanco on the property, the majority of which were not assayed for lithium, even though petalite was present;
• 11 historical lithogeochemical anomalies based on lithium-plus-rubidium-plus-pollucite contents identified, but only three anomalies have been partially tested with individual drill holes;
• Seven historical enzyme-leach B-horizon soil anomalies identified, but only a few of the anomalies have been partially tested with individual drill holes.

Highlights of the Gullwing-Tot Lakes property include:

• The property has been underexplored with limited historical drill programs not looking for lithium even though spodumene is present in the drill core.
• The Tot Lake pegmatite contains spodumene blades are up to 38 centimetres long and make up to 78 volume per cent of the spodumene-rich zone.
• The Tot Lake pegmatite is one of the five pollucite-bearing pegmatites in Ontario.
• The Tot Lake pegmatite has three potential commodities: lithium, tantalum and pollucite.
• The Gullwing pegmatite contains two lithium minerals: spodumene and lepidolite.

Paterson Lake

The Paterson Lake property is located in the Paterson Lake and Treelined Lake areas, 60 kilometres north of Kenora in Northwestern Ontario, close to the Ontario-Manitoba border. The Paterson Lake property is located within the Separation Rapids greenstone belt and hosts multiple petalite-bearing pegmatite dikes. The property was optioned from Exiro Minerals Corp. in 2017 (see Power Metals press release dated April 20, 2017). Avalon Advanced Materials' Separation Rapids lithium project (with measured and indicated resources of 8.12 million tonnes at 1.37 per cent lithium oxide as of Nov. 15, 2017) is located 1.2 kilometres from the Paterson Lake property.

Gullwing-Tot Lakes

The Gullwing-Tot Lakes property is located in Drope and Webb townships, 30 kilometres northeast of Dryden in Northwestern Ontario with excellent road access. Gullwing and Tot Lakes pegmatites contain spodumene. The property was optioned from Exiro Minerals in 2017 (see Power Metals press release dated April 20, 2017). The property is located 5.5 kilometres northeast of the Mavis Lake spodumene pegmatite field.

Case Lake

The Case Lake property is located in Steele and Case townships, 80 kilometres east of Cochrane in Northeastern Ontario, close to the Ontario-Quebec border. The Case Lake pegmatite swarm consists of five dikes: North, Main, South, East and Northeast. The Northeast dike contains very coarse-grained spodumene. Power Metals has an 80-per-cent interest with its 20-per-cent-working-interest partner, MGX Minerals Inc.

Qualified person

Dr. Julie Selway, PhD, PGeo, supervised the preparation of the scientific and technical disclosure in this news release. Dr. Selway is the vice-president of exploration for Power Metals and the qualified person as defined by National Instrument 43-101. Dr. Selway is supervising the exploration program at Case Lake. Dr. Selway completed a PhD on granitic pegmatites in 1999 and worked for three years as a pegmatite geoscientist for the Ontario Geological Survey. Dr. Selway also has 23 scientific journal articles on pegmatites. A National Instrument 43-101 report has been prepared on the Case Lake property and filed on July 18, 2017.

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