Mr. Karim Rayani reports

POWER ONE COMMENCES DRILLING AT ITS PECORS, NICKEL-COPPER-PGM-URANIUM PROJECT IN ELLIOT LAKE, ONTARIO

Drilling has commenced at Power One Resources Corp.'s Pecors property located in Elliot Lake, Ont. Drilling was paused late last year due to numerous freeze-thaw conditions. Drilling has now resumed with 1,400 metres planned, targeting up to four holes.

"We are very excited to get the drills turning after a long-awaited program, numerous freeze thaw conditions that lasted into the new year caused significant delays," stated Karim Rayani, chief executive officer. "The Pecors property is a dynamic piece of ground holding a massive seven-kilometre-by-three-kilometre-wide anomaly. The project holds significant potential for nickel-copper-platinum group metal mineralization and uranium and rare earth oxide mineralization in two completely different geological settings. The nearby Eco Ridge project with almost 60 million tonnes of uranium and rare earth oxide resources further adds merit to the project area. Power One Looks forward to a busy year of announcements."

The Pecors property, located east of Elliot Lake, contains significant uranium mineralization where drilling in 2007 returned values of 4.3 pounds (lb) (0.194 per cent triuranium octoxide (U3O8)) per tonne (t) over four metres (m) starting at 104.49 m downhole and 5.9 lb per t (0.246 per cent U3O8) over 0.94 m starting at 122.64 m. Uranium is hosted within the quartz-pebble conglomerate of the Matinenda formation at shallow depths within the Pecors channel. Channels within the Elliot Lake uranium camp were mined extensively in the 1950s where production grades averaged 0.100 per cent U3O8.

The Pecors channel is reported to host 20 million t grading 0.037 per cent U3O8(0.074 lb per t) U3O8 or 14,800,000 lb of U3O8. This resource was based on limited drilling and was estimated by Rio Tinto in 1977 with the potential to expand this resource. It is concluded that the estimate is not compliant with the requirements of National Instrument 43-101 and it is believed that a qualified person (QP) has not done sufficient work to classify the historical estimate as current mineral resources or reserves. This estimate is viewed as a historical resource only and the figures cannot be relied upon as an accurate estimate of the volume or grade of the mineralized material. Power One or the QP is not treating this estimate as current mineral resources or reserves.

The Pecors property also hosts significant platinum group metal-nickel-copper (PGM-Ni-Cu) mineralization related to the Pecors magnetic anomaly, a large regional magnetic high extending 18 kilometres (km) long and four km wide and largely hidden beneath Huronian sediments. The source of the magnetic anomaly has been confirmed to be at least partially comprise lithologies of gabbroic affinity by International Montoro drilling in 2015. Hole P15-23 drilled by International Montoro intersected 0.33 gram per tonne (g/t) platinum plus palladium plus gold (Pt+Pd+Au) and 0.11 per cent Cu and 0.04 per cent Ni over 12 m within contact-style mafic intrusive mineralization. This style of mineralization appears similar to the East Bull PGM deposit to the east where Quest Critical Metals Inc. (formerly Canadian Palladium) reports a total indicated resources of 16.5 million tonnes at a grade of 0.93 g/t palladium equivalent (PdEq).

The property also lies immediately east of Radio Fuels Corp.'s Eco Ridge project where indicated resources total 22.306 million tonnes (Mt) grading 0.045 per cent U3O8 and 1,613 parts per million (ppm) REO (rare earth oxides) and inferred resources of 36.955 Mt grading 0.046 per cent U3O8 and 1,560 ppm REO.

The drill is on site and operations have commenced. Drill hole targets have been finalized following interpretation of the results from a 2008 VTEM (versatile time domain electromagnetic) and magnetic heliborne survey. Drill targets are focused on conductors favourable for hosting significant concentrations of uranium at the base of the Huronian sediments associated with pyrite mineralization and the underlying basement intrusive rocks for sulphide-bearing PGE mineralization. Approximately 1,000 to 400 metres are planned across three to four drill holes.

Qualified person

Mike Kilbourne, PGeo, an independent qualified person as defined in National Instrument 43-101, has reviewed and approved the technical contents of this news release on behalf of the company.

The QP and the company has not completed sufficient work to verify the historic information on the property comprising the Pecors project, particularly regarding historical exploration, neighbouring companies and government geological work.

About Power One Resources Corp.

Power One Resources is a resource issuer listed on the TSX Venture Exchange under the symbol. The company's flagship asset, the Pecors, hosts significant potential for PGM-Ni-Cu mineralization related to the Pecors magnetic anomaly, a large regional magnetic high extending 18 km long and four km wide and largely hidden beneath Huronian sediments.

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