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 £750,000 in Pre-IPO financing and further information in respect of this is available through the following link:

https://www.londonstockexchange.com/news-article/POW/golden-metal-resources-pre-ipo-financing/15244131

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:

https://www.goldenmetalresources.com

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

https://www.goldenmetalresources.com/golden-metal-resources-presentation/

For further information please visit https://www.powermetalresources.com/ or contact:

NOTES TO EDITORS

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:

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.