Mr. Johnathan More reports

POWER METALS MOBILIZES DRILL RIG TO CASE LAKE FOR WINTER 2024 DRILL PROGRAM

Power Metals Corp. has mobilized a diamond drill rig to commence its winter 2024 exploration drill program at its 100-per-cent-owned Case Lake property in Northeastern Ontario. A total of 4,000 metres of drilling are planned to delineate and extend lithium/cesium/tantalum (LCT) mineralization along geological strike and down dip of known mineralization in the property. The company has completed several successful drill campaigns that intersected high-grade lithium and cesium mineralization at the Case Main and West Joe deposits between 2017 and 2022 (see news releases reported in November, 2022, September, 2018, and November, 2017).

Johnathan More, chairman of Power Metals, commented: "We are very excited to be back at Case Lake and look forward to a successful launch of our winter 2024 exploration program. We believe in the exploration upside at Case Lake, one of the few projects in the world that contain cesium mineralization in pollucite and look forward to drill test the high-priority exploration targets our team have been able to identify."

Case Lake property

The Case Lake property is located 80 kilometres east of Cochrane in Northeastern Ontario/ close to the Ontario/Quebec border. The property consists of 585 cell claims in Steele, Case, Scapa, Pliny, Abbotsford and Challies townships in the Larder Lake mining division. The property is 10 kilometres by 9.5 kilometres in size with 14 granitic 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 dome, collectively forming mineralization trend that extends for about 10 kilometres.

Power Metals has 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 drilled a total of 15,700 metres of core between 2017 and 2022 at the property. The Case Lake property is owned 100 per cent by Power Metals. 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, PGeo, vice-president of exploration for Power Metals, a qualified person under NI 43-101, Standards of Disclosure of Mineral Projects.

About Power Metals Corp.

Power Metals is a diversified Canadian mining company with a mandate to explore, develop and acquire high-quality mining projects. The company is committed to building an arsenal of projects in both lithium and high-growth specialty metals and minerals. The company sees an unprecedented opportunity to supply the tremendous growth of the lithium battery and clean technology industries.

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