29 September 2025

Power Metal Resources plc

("POW", "Power Metal" or the "Company")

Interim Results

Power Metal Resources plc (AIM:POW, OTCQB:POWMF), the London-listed natural resources exploration company and project incubator with a global project portfolio, announces its unaudited interim results for the six-month period ended 30 June 2025 (the "period"), for the Company and its subsidiaries (together the "Group").

KEY DEVELOPMENTS IN THE HALF YEAR TO 30 JUNE 2025

-     Block 8 Oman: Exploration work was conducted by Power Arabia Limited ("Power Arabia") across the Block 8 exploration concession in Oman ("Block 8"), focusing on the Al Maider and Al Mansur prospects, which both have the potential to host significant mineralisation.

o  At the Al Maider Prospect, assay results from an initial 13 rock and float samples returned significant results of 4.46% and 1.75% copper and further rock chip sampling returned results of up to 7.84% copper, supporting the prospectivity of the target.

o  At the Al Mansur Prospect, gravimetric geophysics ("Gravity") survey work defined five anomalies, with in-fill Gravity work further defining two targets for additional workstreams, subsequently named AM1 and AM2.

-      Uranium Joint Venture: During the period, significant progress was made at a number of properties that constitute Power Metal's uranium-focused joint venture (the "Joint Venture" or "JV") with UCAM Ltd ("UCAM"), known as Fermi Exploration ("Fermi"), which comprises POW's entire portfolio of uranium licences:

o  Tait Hill: Significant intrusion-related uranium target - the Antler Zone - identified at the property. Rock samples taken from the Antler Zone returned Tait Hill's highest uranium values to dates, including 1.68% uranium in pegmatite.

o  Fortin River: Project acquired in February by mineral staking. Preliminary geophysical results indicate the presence of a significant uranium target.

o  Reitenbach: Property expanded by 27.5% by direct mineral claim staking. Geophysical surveys and fieldwork reveal promising targets. Small field programme commissioned to refine and narrow the prospective area for future work.

o  Drake Lake-Silas: Drill targets established targeting Iron Oxide Copper Gold ("IOCG") mineralisation. Diamond drilling programme initiated and completed post-period. Further magnetic and electromagnetic geophysical surveys and geochemical sampling commissioned to support drill targeting.

o  Perch River: Permits received and rig mobilised for seven to eight-hole diamond drilling programme to test a coincident electromagnetic conductor and previously identified radon/soil geochemical anomaly. Programme was initiated and completed post-period.

o  Badger Lake: Diamond drilling programme was designed following comprehensive exploration studies, including geophysical, geochemical, and surficial studies. A 2,400  metre ("m") diamond core drilling programme was planned following the receipt of permitting.

-       Guardian Metal Resources: In February, an agreement was reached in principle between the Company and UCAM wherein UCAM would purchase 29,758,334 shares in Guardian Metal Resources ("GMET"), and warrants granted over 986,352 ordinary shares in GMET of £0.01 each, for a total cash consideration of £9,225,083.91. The sale was completed realising over £9.2 million in cash proceeds.

KEY DEVELOPMENTS POST-PERIOD

-       Block 8 Oman: Post-period, a Gravity survey was completed over the Al Mansur Prospect, further defining two strong anomalies - AM1 and AM2 - peaking at 0.56 milligal ("mGal") of contrast and providing close to 700 m of highly anomalous target strike length combined. Maiden reconnaissance diamond core drilling programme has now commenced with an initial nine drill holes planned to test targets identified by earlier exploration work.

-       Uranium Joint Venture: Over the summer of 2025, Fermi advanced several projects across its portfolio through extensive diamond drilling programmes, delivering strong technical progress:

o  Drake Lake-Silas: Seven-hole, 2,660 m diamond drilling programme was completed. Two zones of mineralisation confirmed.

o  Perch River: Six-hole, 1,563 m diamond drilling programme was completed, successfully testing a target, an inferred shear structure, at depth.

o  Badger Lake: Permit application is in progress to conduct mineral exploration on the property. Testing planned on electromagnetic geophysical and geochemical anomalies in the S-Zone.

o  Fortin River: Radon and swamp bed sampling programme has been completed to inform future exploration on the property.

o  East Hawkrock: Drill programme is planned and due to commence in Q1 2026.

-       Guardian Metal Resources: Following the partial disposal in February 2025, Power Metal sold its remaining holding of 24,699,825 ordinary shares in Guardian Metal Resources PLC post period-end, for a total cash consideration of £13,584,904 before costs. This took the total funds received  to £22,809,988 before costs over the course of two disposals, a return of 11.8 times on an original investment of £1,935,275, validating the Company's project incubator approach.

-       First Development Resources: First Development Resources PLC ("FDR") commenced trading on AIM in July 2025, raising gross proceeds of £2.3 million as part of the admission. Power Metal holds 43.44% of FDR's issued share capital, with the IPO serving as another post-period crystallisation success.

-       Minestarters: In early September 2025, Power Metal announced a proposed investment of up to £3 million in Minestarters, an institutional-grade, blockchain-enabled Decentralised Finance ("DeFi") platform bringing real-world asset ("RWA") tokenisation to mining exploration, for up to a 49 per cent stake. Minestarters plans to be the first DeFi platform to offer investors regulated, compliant and transparent access to mineral exploration and development, transforming mining finance.

FINANCIAL HIGHLIGHTS FOR THE HALF YEAR ENDED 30 JUNE 2025

-       Profit for the period, attributable to owners of the parent of £5.4 million (30 June 2024: £1.3 million loss), resulting in profit per share of 4.71 pence (30 June 2024: 1.22 pence loss);

-       Total assets of £31.07 million at the period end (31 December 2024: £28.71 million); and

-       Net assets of £28.3 million at the period end (31 December 2024: £22.9 million).

Sean Wade, Chief Executive Officer of Power Metal commented: "It has been a momentous year for Power Metal Resources thus far. During the period, significant advancements were achieved by the Fermi Exploration team across its suite of highly prospective uranium licences, delivering strong technical progress and exceedingly encouraging results which have continued to highlight the scale and diversity of the opportunity. We look forward to the advancement of this exploration pipeline throughout the rest of the year, with further drilling planned.

"Our Power Arabia subsidiary also enjoyed exploration success at its flagship Block 8 project in Oman, returning positive results that further demonstrate the potential for the project to host significant copper mineralisation. Power Arabia is set to continue its drive to be one of the dominant exploration leaders in the region, advancing a pipeline of exciting prospects with key partners.

"Post period-end, we disposed of our remaining holding in GMET, realising £22.81 million on our initial £1.94 million investment, an 11.8 times return. This disposal, partnered with the IPO of First Development Resources, in which we retain a significant stake, validates our project incubation model in the strongest terms. These key crystallisation events will allow us to pursue other business development opportunities.

"One such opportunity is the investment of up to £3 million in Minestarters, an innovative decentralised finance platform bringing real-world asset tokenisation to mining exploration. This transformative investment gives us first-mover advantage in a US$200+ billion annual market, with a platform that has the potential to scale rapidly and reshape mining finance.

"I would like to thank the teams from across the Group for their dedication and hard work, and I look forward to updating shareholders on the development of our investment opportunities and progress across our diversified portfolio in the coming months."

 POWER METAL INTERESTS AT TODAY'S DATE

The latest updated review of Power Metal's business interests is provided in the Company's investor presentation which can be accessed here:

https://www.powermetalresources.com/investors/presentation/

In addition, a single page Business Overview is provided for investors through the following link:

https://www.powermetalresources.com/company/

LATEST POSITION OF POWER METAL INTERESTS AND TARGETED OBJECTIVES FOR 2025

Priority Exploration and Potential Exploration Project Joint Ventures

Investment Holdings and Disposals Planned/Underway

Note: other project packages within the Power Metal portfolio are also in earlier stages of disposal and/or spin-out preparations in addition to those listed below.

Projects Disposed of / Activities Ceased

This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 ("MAR"), and is disclosed in accordance with the Company's obligations under Article 17 of MAR.

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.