Mr. Johnathan More reports

POWER METALS COMMENCES FIELD EXPLORATION PROGRAM AT CASE LAKE

Power Metals Corp. has commenced its 2023 field exploration program on its 100-per-cent-owned Case Lake property in northeastern Ontario. The program includes high-resolution airborne magnetic and lidar surveys, which will be followed by field-based prospecting and mapping programs.

Johnathan More, Chairman of Power Metals commented, "We are excited to start our exploration program at Case Lake. Our contractors are engaged, and the magnetic and LiDAR surveys will greatly enhance our ability to complete an effective field exploration program later in the Spring. We expect to follow-up the field exploration work with a drill program later in the summer."

2023 FIELD EXPLORATION HIGHLIGHTS

High-resolution airborne magnetic survey with focus on identification of structural corridors that host Lithium-Cesium-Tantalum (LCT) pegmatites will be completed by Precision GeoSurveys Inc. by the third week of this month.

Detailed remote sensing survey that include acquisition of high-resolution aerial imagery and LiDAR data will be completed by KBM Resources Group later this month.

Power Metals will mobilize field exploration crew that will focus on prospecting and geological mapping in June.

The company is fully budgeted for 15,000-meter drill program that is expected to start late in the summer.

In addition to initiation of the field exploration programs, Power Metals is actively working on desktop compilation of historical and recent exploration data to generate quality prospects and targets at the Case Lake Property. The company is also developing an exploration strategy in collaboration with a highly experienced team that the company is able to access through its relationship with Winsome Resources.

Case Lake Property

The Case Lake Property is located 80 km east of Cochrane, northeastern Ontario close to the Ontario - Quebec border. The Property consists of 579 cell claims in Steele, Case, Scapa, Pliny, Abbotsford and Challies townships, Larder Lake Mining Division. The Property is 10 km by 9.5 km in size with 14 tonalite domes. The Case Lake pegmatite swarm consists of six spodumene dikes known as the North, Main, South, East and Northeast dikes on the Henry Dome, and the West Joe dike on a new tonalite dome, collectively forming mineralization trend that extends for about 10 km.

Power Metals have completed several exploration campaigns that have led to the discovery and expansion of new and historic spodumene bearing LCT pegmatites at Case Lake. The Company has drilled a total of 15,700 meters of core between 2017 and 2022 at The Property.

The Case Lake Property is owned 100% by Power Metals Corp. A National Instrument 43-101 Technical Report has been prepared on Case Lake Property and filed on July 18, 2017.

Scientific and Technical Disclosure

The scientific and technical disclosure included in this news release has been reviewed and approved by Amanuel Bein, P.Geo., Vice President of Exploration for Power Metals, a Qualified Person under National Instrument 43-101 Standards of Disclosure of Mineral Projects.

About Power Metals

The Power Metals Corp. is a diversified Canadian mining company with a mandate to explore, develop and acquire high quality mining projects. We are committed to building an arsenal of projects in both lithium and high-growth specialty metals and minerals. We see an unprecedented opportunity to supply the tremendous growth of the lithium battery and clean-technology industries. Learn more at www.powermetalscorp.com.

We seek Safe Harbor.