12 January 2026

Power Metal Resources PLC

("Power Metal" or the "Company")

Transaction in own shares

Power Metal Resources PLC (AIM:POW) the London-listed exploration company and project incubator with a global project portfolio, is pleased to announce a transaction in own shares.

At the Company's AGM held on 25 July 2025, Shareholders approved a special resolution to authorise the Directors to make market purchases of up to 17,250,000 ordinary shares of 2 pence each in the capital of the Company ("Ordinary Shares"),  at not less than 2 pence per share and otherwise by tender offer of up to a maximum price (exclusive of expenses) of the higher of: (i) 5% above the average of the middle market quotations of the Company's Ordinary Shares as derived from the London Stock Exchange Official List for the five business days preceding the date of purchase; and (ii) the higher of the price of the last independent trade and the highest current independent purchase bid on the London Stock Exchange at the time the purchase is carried out.

On 19 September 2025 the Company announced a proposed capital reduction to ensure that there were sufficient distributable reserves to facilitate a return of capital to shareholders. The Company recognises the importance of providing returns for investors and considered it highly desirable to ensure that the Company had the maximum flexibility to return value to shareholders.

Following the confirmation that the share capital reduction was effective, as announced on 8 January 2026, the Company is pleased to announce that is has purchased a total of 438,594 Ordinary Shares through the Company's Joint Broker, SP Angel Corporate Finance LLP, as follows:

Date of purchase: 9 January 2026

Number of Ordinary Share purchased: 438,594 Ordinary Shares

Price paid per share: 14.521

The Company intends to hold these Ordinary Shares in Treasury.

Following the above purchase, the total number of Ordinary Shares in issue, excluding shares held in Treasury, is 115,171,843 This number represents the total voting rights in the Company and may be used by shareholders as the denominator for the calculation by which they can determine if they are required to notify their interest in, or a change to their interest in the Company under the Financial Conduct Authority's Disclosure Guidance and Transparency Rules.

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.