17 April 2025

Power Metal Resources PLC

("Power Metal" or the "Company")

Block 8 Oman: Initial Ground Gravimetric Survey Results

Power Metal Resources PLC (AIM: POW, OTCQB: POWMF), the London listed exploration company with a global project portfolio, and its majority held subsidiary Power Arabia Ltd ("Power Arabia"), is pleased to provide an update on the gravimetry geophysical survey results and ongoing fieldwork at the Block 8 exploration concession in Oman ("Block 8" or the "Project").

Highlights:

·    Gravimetry geophysics ("Gravity") survey conducted over Al Mansur prospect area.

·    Gravity survey defined five named anomalies:

o  H1: The highest gravimetric anomaly with almost 0.7 milligal ("mGal") of contrast and a north south orientation that may be associated with possible massive sulphide mineralisation (the "H1 Target");

o  H2: May reflect lithological differences between L1 and L2;

o  I1: Elongated Bouguer anomaly identified with 150m of extension and 0.22 mGal of contrast;

o  L1: Amplitude of 0.7 mGal; and

o  L2: Amplitude of 0.4 mGal.

·    Extension of Gravity survey grid to the north commissioned to delineate the full extent of the H1 Target.

·    A further 210 ionic leach samples taken over areas subject to gravimetric survey work.

·    765 field locations have been visited for outcrop verification.

Block 8 is the subject of an Agreement for Power Metal to earn a 12.5% stake in the Project held by ASX listed Alara Resources Limited ("Alara") and Awtad Copper LLC ("Awtad Copper"). The exploration work, led and undertaken by the Power Arabia technical team, commenced in October 2024 following the signing of a formal and legally binding agreement on 25 October 2024.^{1, 2}

The gravimetry geophysics method is used to measure gravitation field variations which correspond to density changes and can be associated with subsurface mineral deposits such as massive sulphide and geological structures and intrusions.

Sean Wade, Chief Executive Officer of Power Metal Resources plc, commented: 

"I am delighted to provide this exciting update from Power Arabia's flagship project. These highly encouraging gravimetric survey results further demonstrate the potential for Block 8 to deliver value to stakeholders and shareholders.

"I look forward to providing further updates on the excellent progress being made by the Power Arabia team across this licence area."

Gravity Survey

Power Arabia commissioned Oman based geological consultancy National Rocks to conduct a Gravity survey over the Al Mansur prospect area as part of a larger survey across the central zone of the Block 8 licence.  The survey, which employed the use of a CG-5 Autograv Gravity Meter and a differential GPS at 214 survey stations on a NNE orientated 100 metres ("m") by 50m survey grid, was conducted during February 2025 and was subsequently processed and outlined in a report provided by National Rocks in late March 2025.

The survey was designed to follow up and aid target definition from copper mineralisation identified by Alara historical rock chip sampling and Power Arabia trenching work (assay sample results awaited). The survey was designed to test the predicted location of mineralisation buried under transported overburden along strike from the outcropping mineralisation located at surface to the south.

The Gravity survey results have defined five named anomalies as depicted in Figure 1 and Table 1. The H1 Target is a very strong north-south orientated Residual Anomaly on the eastern side of the survey area, which may be associated with potential volcanogenic massive sulphide ("VMS") mineralisation.⁴

The H1 Target currently measures some 400m long and at least 10-15m wide and is open along strike to the north. To the south it appears to be cut off by a northwest southeast trending fault structure.

Figure 1: Residual Ground Gravimetric anomaly H1, Al Mansur Prospect, Block 8, Oman

Table 1: Summary of Gravity Survey Anomalies (Shown in Figure 1), over Al Mansur Prospect

Based on these initial results, Power Arabia has now commissioned Northern Rocks to extend the Gravity Survey grid to the north in order to delineate the full extent of the H1 Target. Power Arabia will also investigate the potential for the H1 Target body to continue to the southeast due to fault structure displacement.

A review of historic drilling data shows that previous holes, which did not intercept any mineralisation, were located to the east of H1 Target and Power Arabia are highly encouraged by this untested anomaly.

With the copper mineralisation identified in the trenches, combined with this significant geophysical anomaly, Power Arabia is in the process of planning an initial short diamond drilling programme over this target on formal renewal of the Block 8 licence by the Ministry of Mines, Oman, hoped to be within the coming weeks.

Power Arabia will provide further updates on receipt of a series of results for stream sediment, ionic leach, trench and rock chip samples, and continues to expand knowledge and target identification on Block 8.

Geological Fieldwork

The exploration fieldwork programme as outlined in the announcement of the 30 January 2025 continues at a pace with a further 210 ionic leach samples taken over the areas currently subject to the gravimetric survey work, as well as over interpreted structures and lithological contacts which are consistent with mineralisation observed in other parts of the belt in Oman. Assay results from the sampling are pending.

To date a total of 765 field locations within Block 8 have been visited for outcrop verification by the team (see Figure 2 and Figure 3). All field data is digitally captured using QField and QGIS mapping software. A total of 40 additional rock samples of both in-situ and float material, including three QA/QC samples, two blanks and one laboratory accredited Certified Reference Material sample, have been submitted to ALS for standard analysis.

Figure 2: Summary of Block 8 Exploration Work as of March 2025

Figure 3. Overview of Block 8 Geology, Structures and Initial Rock Chip Results

Figure Note: See Company announcement: Block 8 Oman: Exploration Update, dated 30 January 2025³ for rock chip assay results.

Figure 4. Block 8 Al Mansur Prospect Gravimetric Survey Plan over Historical Magnetic RTP Geophysics Image

Power Arabia is currently awaiting further laboratory assay results and looks forward to providing further updates on the next stage of planned work once results become available.

REFERENCES

1:            Company announcement, Non-binding Heads of Terms signed with Alara Resources & Awtad Copper, dated 25 October 2024

                ( https://polaris.brighterir.com/public/power_metal_resources/news/rns/story/xpd67mx).

2:            Company announcement, Agreement with Alara Resources & Awtad Copper, dated 25 October 2024
( https://polaris.brighterir.com/public/power_metal_resources/news/rns/story/rd8z59w ).

3:            Company announcement, Block 8 Oman: Exploration Update, dated 30 January 2025
( https://polaris.brighterir.com/public/power_metal_resources/news/rns/story/xl4lmpr ).

4:            Volcanic-associated or VMS deposits range from lens shaped to sheet-like bodies of sulphide-mineral-rich rock spatially associated with volcanic rocks ranging in composition from basalt to rhyolite. VMS deposits can be divided into three general categories: Cyprus-type; Kuroko type; and Besshi-type. Cyprus-type deposits tend to be small, medium-grade deposits rich in copper and zinc. They are generally lens or mound shaped accumulations of massive pyrite developed in ophiolite-related, extrusive basalt sequences. They are typically underlain by copper-rich "stringer-zones" composed of anastomosing quartz-sulphide mineral veins in extensively chloritised basalt.
( https://pubs.usgs.gov/of/1995/ofr-95-0831/CHAP16.pdf )

QUALIFIED PERSON STATEMENT

The technical information contained in this disclosure has been read and approved by Mr Nick O'Reilly (MSc, DIC, MIMMM QMR, MAusIMM, FGS), who is a qualified geologist and acts as the Qualified Person under the AIM Rules - Note for Mining and Oil & Gas Companies. Mr O'Reilly is a Principal consultant working for Mining Analyst Consulting Ltd which has been retained by Power Metal Resources PLC to provide technical support.

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

NOTES TO EDITORS

Power Metal Resources plc (AIM: POW, OTCQB: POWMF) is a London-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, Saudi Arabia 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.