23 June 2025

Power Metal Resources PLC

("Power Metal" or the "Company")

Block 8 Oman: Exploration Update including 7.8% Cu Sample

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 exploration update for the Block 8 exploration concession in Oman ("Block 8" or the "Project").

Block 8 (Figure 1) 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 (the "Agreement") on 25 October 2024.^{1, 2}

As per the Agreement, Power Metal has reached the initial milestone of 10% earn-in based on exploration spend to date of US$500,000 and is currently planning the further 2.5% milestone by spending an additional US$240,000 to attain the full 12.5% stake.

Exploration work, including rock chip sampling, mapping and in-fill gravimetric geophysics ("Gravity") surveying, has focused on two high priority prospects, the Al Maider Prospect and the Al Mansur Prospect, which both have the potential to host significant mineralisation.

Highlights:

Al Maider Prospect

·    Recent rock chip sampling returns highlight copper ("Cu") results of 7.84%, 4.7%, 2.8%, and 2.7%.

·    Sample results show strong correlation of copper with an associated structural feature.

·    Geological mapping continues to support Al Maider as a high prospectivity target.

Al Mansur Prospect

·    In-fill Gravity survey work has defined an additional named target at Al Mansur: the new H2 Target is located along strike to the northeast of the previously defined H1 Target.

·    Regional Gravimetric survey results define at least 3 structural targets in the centre of the Project.

·    Assay results from the re-analysis of trench samples, confirm the initial positive results situated along strike from the H1 Target gravimetric anomaly.

·    Drilling target defined.

Project Scale Exploration

·    Additional 145 Ionic leach geochemical samples to be submitted for analysis, providing coverage for two target zones based on the gravity survey interpretation.

·    Several targets promoted for next-stage fieldwork.

·    Full technical report submitted to the Ministry of Mines Oman in support of the Project licence renewal process.

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

"These results further underpin our confidence that these two key prospects have the potential to host significant mineralisation, whilst also demonstrating the wider potential for Block 8 to deliver value to stakeholders and shareholders.

"I would like to thank the Power Arabia team for their continued efforts across a range of workstreams at Block 8, and I look forward to providing updates on the planned exploration work we will look to undertake in order to attain the full 12.5% stake."

Atmavireshwar Sthapak, Managing Director of Alara Resources, commented:

"We are pleased with the encouraging results from recent exploration activities undertaken by our partners in the Block 8 exploration licence. The Al Mansur prospect, originally discovered by Alara in 2012-13, continues to demonstrate strong potential, having now progressed to the drill-testing stage following recent work. The discovery of a new prospect, Al Maider, by Power Metal further highlights the broader potential of Block 8 to host additional copper mineralisation.

"Alara is committed to advancing the exploration of Block 8 and intends to increase its stake in the joint venture through continued investment alongside Power Metal. I would like to commend the Power Metal team for their strategic and effective exploration efforts. We look forward to working closely with all our partners in the pursuit of new copper discoveries in Oman."

Figure 1: Location of Block 8 Licence Area in Oman.

Exploration Summary

Further to the initial ground Gravity survey results, announced 17 April 2025, the recent work commissioned and undertaken by Power Arabia includes additional in-fill gravimetric survey work and associated interpretation, geological mapping, surface sampling and check-sampling.

Project Scale Geological Mapping

The Power Arabia technical team have commenced the detailed geological mapping and interpretation of the entire Project area.  This work will consolidate and cross-correlate at least five historic geological maps within the Project area, and will provide more detailed mapping coverage for the southern region of the Project including the Al Maider and Al Mansur prospects. The mapping work will also entail the use of remote sensing imagery, the gravimetric results and historical ground magnetic geophysical surveys.  The resulting geological map (Figure 2) will greatly aid ongoing and further exploration.

Figure 2: Geological map, Block 8, Power Arabia, June 2025

Al Maider Prospect

The Al Maider Prospect was delineated from stream sediment sampling programmes in 2024 and early 2025, with copper bearing float located in the area, leading to the team finding the bedrock source upstream at Al Maider. The geology of the Al Maider Prospect and the copper in stream sediment results are shown in Figure 3.

Work to date on the Al Maider Prospect consists of a combination of geological mapping and rock chip sampling.  The most recent sampling has yielded significant new copper results (see Table 1 and Appendix 1) which, combined with previous results and geological and structural fault mapping, define a robust 4 kilometre ("km") long copper target.

With recent work concentrating on the northern part of the Al Maider Prospect, the Company is investigating potential for further mineralisation to the south, along strike of the Gabbro unit and 1.75% copper grab sample result depicted in Figure 4.  Whilst this result is for a grab sample rather than an in-situ bed-rock sample, it shows potential for localised copper mineralisation.

Follow-up work at Al Maider will include infill mapping and sampling along the prospect trend, trenching and a ground magnetic survey with a view to establishing targets for initial drill testing. Access to this prospect is quite challenging and therefore further non-invasive work will be carried out to add confidence prior to any drilling.

Table 1: Highlight Al Maider Rock Chip Sample Assay Results

Note: Sample analysis undertaken by ALS laboratories method ME-ICP61 (34 element four acid ICP-AES) with method Cu-OG62 ore grade copper four acid method for overlimit copper (>10,000 ppm) samples. Copper grades >.05% highlighted red. The full sample results are shown in Appendix 1.

Figure 3: Al Maider Prospect Copper in Stream Sediment Sample Results

These rock chip sampling results and geological interpretation strengthen the prospectivity of Al Maider with initial interpretation showing that the copper mineralisation is associated with a gabbro intrusive 'slither' within an ultramafic ophiolite sequence associated with a fault system (see Figure 4).

This interpretation is supported by remote sensing satellite imagery (Figure 5), which shows potential for the current project 4km strike length to be increased subject to further on-the ground mapping.

Figure 4: Al Maider Prospect Rock-Chip and Grab Sample Results >0.4% Copper

Figure 5: Remote Sensing Satellite Imagery Showing Outline of the Al Maider and Al Mansur Prospects

Al Mansur Prospect

The Al Mansur Prospect is located in the centre of the Project area and has been defined on the basis of trench sampling undertaken in December 2024 (3 trenches, 150 metres ("m") total length) and gravity geophysics.

Due to perceived QA/QC issues with some of the initial trench sample analysis, Power Arabia submitted some key coarse reject sample material to a second laboratory to verify the accuracy of the initial analysis. These returned acceptable values slightly lower than the original results but still confirming the anomaly of the trench.

Trench AM24TR02 returned 9m at 0.74% Cu with the trench located perpendicular to the gravity survey anomaly H1 and the underlying stratigraphy. Trench AM25TR04 assays results initially returned 8m at 0.29% Cu, however, due to the lack of acceptable QA/QC as stated above, these samples were re-analysed at a different lab, ALS Jeddah, and the results returned 8m at 0.31% Cu with acceptable QA/QC results. This trench, which preceded more recent work, is not perpendicular to the main strike and stratigraphy at Al Mansur Prospect.

A recent updated interpretation of the gravity survey, further to additional in-fill and extensional survey points over the Al Mansur target (see Company announcement 25 April 2025) has returned an additional 'H2 Target', located on strike from the previously identified H1 Target (Figure 6).

Figure 6: Updated Ground Gravimetric Survey Results for Al Mansur Prospect showing the Location of the H1 Target and New H2 Target

The processed survey data and resulting gravity-residual sections confirm that the Al Mansur Prospect area is dominated by two pronounced positive anomalies (H1 and H2) separated by more subdued zones of lower residuals. As shown in Figure 7 below along Profile A-B, the residual field rises steadily from 0 milligal ("mGal") at the southern end to a broad peak of ≈ +0.45 mGal between the two dashed markers (H1), then reverses sharply north-eastward, falling to -0.40 mGal at the profile terminus. This asymmetric high coincides spatially with the magenta ridge seen and marks a dense, probably mafic/ultramafic body that is bounded on its western side by a steep density contrast against the adjacent low-density trough L2. Profile C-D traverses the same ridge but additionally crosses the northern high H2: a first positive shoulder (~+0.40 mGal) associated with the southern edge of H1 is followed, after a subtle saddle, by a sharper peak that reaches +0.60 mGal beneath the centre of H2 before tapering northwards. The intervening slight inflection agrees with the narrow negative corridor (blue-green colours) between H1 and H2 on the map, suggesting a structural break or lithological change. Taken together, the profiles demonstrate that H1 forms an elongated NW-SE dense core, while H2 represents a separate, more localised dense block farther north-east; both are flanked by broad gravity lows (L1-L3) that likely represent thicker, lower-density cover sediments or alteration zones.

Figure 7: Ground Gravimetric Survey Results for Al Mansur Prospect showing all interpreted areas of interest.

A third-party re-interpretation is planned to ensure full review is achieved to ensure maximum confidence for an initial drill programme to test these targets.

With the historic sampling on strike to the south and the recent trenching by Power Arabia, this target represents the most advanced target on Block 8 with easy access for a drilling programme.

Other Target Generation Results

The gravimetric survey also covered an area in the centre of the Project, where it interpreted key lithological contacts and fault zones which are considered possible mineralisation trap related targets (Figure 7).  The initial interpretation has provided a further two strong anomalies for follow up work.

Figure 8: Ground Gravimetric Survey Tilt Derivative Image with Interpreted Fault Zones

As advised in the announcement of 30 January 2025, 210 ionic leach soil samples were collected but not assayed, in advance of the gravimetric survey work. With the gravity survey interpretation now available, a subset of 145 samples, which cover the three broad target areas, have been submitted to ALS Bijaq, Oman for laboratory analysis. The location of these samples in relation to the gravity survey results is shown in Figure 8. Further ionic soil sampling will be part of the next phase of exploration.

Figure 9: Location of Ionic Leach Soil Samples Submitted for Analysis, for New Target Areas, Central Block 8

Power Arabia is currently undertaking a review of the exploration results and interpretations in preparation for the next phase of exploration to meet its second milestone of 12.5% earn-in, having now met its initial milestone of 10%. The Project is proving highly prospective and, with the Block 8 licence renewal now granted,  the Power Arabia technical team is excited to continue the exploration with the objective of defining an initial drilling programme.

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 )

Appendix 1:

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, Oman 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.