Power Metal Resources

🚀 Power Metal Resources Signs Definitive Agreement for Oman's Block 8 Copper Project We’re delighted to announce that our agreement with Alara Resources and Awtad Copper for the Block 8 concession in Oman is now formally signed. With an up to $740,000 commitment, we’ll earn a 12.5% stake in this promising copper exploration project. Fieldwork is set to begin immediately as our team finalizes logistical preparations on-site. Full announcement here: https://bit.ly/4hmjfQ2 Key Highlights: - Strategic Investment: Power Arabia, our majority-held subsidiary, is spearheading this initiative, marking a significant step in expanding our operations in Oman. - Comprehensive Exploration Program: Our team has mapped out a four-pronged exploration approach: - Stream and Wadi Sampling: Targeting the southern ophiolite sequence with rock chip sampling and initial mapping. - Soil Sampling: Testing the Ionic Leach method on a known copper anomaly for precision and future application. - Northern Reconnaissance: Conducting surveys in the sediment-covered northern areas for potential geological insights. - Targeted Trenching: Testing copper targets at Al Mansur and another site identified via satellite data, using a locally sourced excavator to reach potential mineralization. CEO Sean Wade, commented: "I am delighted to be able to announce that another landmark deal in our growing Power Arabia business has been signed. "We already have a team on the ground undertaking final logistical preparations. Moreover, we are continuing to build a local geological team to support this initial work, and for the rest of our expected project development in Oman.” #Oman #JointVenture #exploration 🇬🇧 $POW 🇺🇸 $POWMF @OTCMarkets

⚡⚡ Power Metal Resources: Successful Completion of Formation of Uranium Joint Venture! ⚡⚡ We are excited to announce the completion of the formation of our uranium-focused joint venture with UCAM Ltd. Sean Wade, CEO of Power Metal Resources, commented: “I am delighted to announce the successful completion of this flagship transaction for Power Metal. We are extremely excited about working with UCAM to deliver high-quality uranium discoveries and I am confident that this Joint Venture will be a huge value driver for our shareholders..." Read the full announcement here: https://bit.ly/3XVl65B Key Highlights: ♦️ Joint Venture Completion: UCAM Ltd will make an initial £10 million equity investment for a 70% interest in our Canadian subsidiary, 1501158 BC Ltd. Power Metal may receive an additional £4 million subject to UCAM’s return threshold. ♦️ New Asset Integration: The recently acquired Drake Lake-Silas uranium project has been vended into the joint venture, bolstering its asset base for further exploration and value generation. ♦️ Advancing Exploration: Significant work has already begun this field season across key projects such as Perch River, Tait Hill, Cook Lake, and more. Exploration methods include radon, soil, and biogeochemical sampling, with airborne electromagnetic surveys planned for October. ♦️ Path Forward: UCAM’s investment gives shareholders exposure to at least five high-impact drilling programmes and significant advancements on multiple projects. This joint venture is a testament to our business model and sets the stage for driving significant value from our uranium portfolio. #POW #uranium #JointVenture #exploration #UCAM 🇬🇧 $POW 🇺🇸 $POWMF OTC Markets Group

Power Metal Resources plc is pleased to announce that its accounting reference date has been changed to 31 December, in order to provide the Company with greater flexibility to complete its audit after those of its subsidiaries, a significant number of which have year ends of 30 September. Read full announcement here: 👉 https://bit.ly/4er9H4v As a result, the current accounting period will be extended to 15 months, and will end on 31 December 2024. Following the 15 month period, future results will follow a standard timetable of interim accounts for the six months to 30 June and full year audited results to 31 December. The Company expects to publish its audited accounts for the 15 months ending 31 December 2024 in early June 2025 and by no later than 30 June 2025 in any event. #POW 🇬🇧 $POW 🇺🇸 $POWMF OTC Markets Group

🚀 Uranium Joint Venture & New Project Acquisition! We’re pleased to announce key updates on our uranium-focused joint venture with UCAM Ltd and the acquisition of a new uranium project, Drake Lake-Silas, in Newfoundland & Labrador. Power Metal currently expects to be able to inform shareholders imminently that the transaction with UCAM Ltd has completed. In addition, the Drake Lake-Silas project adds another promising asset to our uranium portfolio, and we update on our #uranium 2024 Fieldwork Programme. Read the full announcement here: https://bit.ly/3zsTgpn 💡 Key Highlights: - Joint Venture Progress: Final administrative steps are underway, and we're on track to finalize the uranium-focused joint venture transaction imminently, without extending the exclusivity period. - New Acquisition: We’ve acquired the Drake Lake-Silas uranium project, which will be integrated into the joint venture. The project sits within a prolific uranium district and covers two licences totaling 1,750 hectares. It hosts two known uranium occurrences and is in close proximity to a significant uranium and vanadium resource. - Fieldwork Update: Completed ground-based surveys on seven properties, testing prospective areas using soil radon, helium, and biogeochemistry sampling. Preliminary results from magnetic and radiometric surveys on Soaring Bay and Thibault Lake are in hand, with further EM surveys set to commence in early October. - Deal Terms: Acquisition of Drake Lake-Silas involves issuing 3,099,968 new ordinary shares valued at £500,000, expected to occur at 8.00 a.m. on or around 4 October 2024. #uranium #JointVenture #exploration 🇬🇧 $POW 🇺🇸 $POWMF @OTCMarkets

What is driving the valuation disconnect across the sector? #POW CEO Sean Wade sheds some light on the current valuation disconnect we are seeing across the sector. This from a discussion with the Kitco NEWS team at Rick Rule's 2024 #RuleSymposium earlier this Summer.👇 🇬🇧 $POW 🇺🇸 $POWMF OTC Markets Group

Update on Uranium Joint Venture We’re pleased to share an update on our proposed uranium-focused joint venture with UCAM Ltd, a newly formed special purpose vehicle affiliated to ACAM LP. Read the full announcement here: https://bit.ly/3TsVlIk We’ve successfully completed all legal due diligence, and the transaction documents are now in substantially final form. Certain administrative tasks related to the Investor's financing arrangements remain outstanding. Accordingly, we’ve extended the exclusivity period to 27 September 2024. #POW #uranium #exploration 🇬🇧 $POW 🇺🇸 $POWMF

⚡ Power Metal Resources expands its Power Arabia portfolio into Oman! 🇴🇲 We’re excited to announce the signing of a non-binding Heads of Terms with Alara Resources and Awtad Copper for a strategic investment in the Block 8 concession in Oman. Read the full announcement here: https://bit.ly/3Xn4a7H Through our majority-held subsidiary Power Arabia, we plan to invest up to $740,000 to earn a 12.5% stake in Block 8, a highly prospective area for copper exploration. This agreement marks a significant expansion of our footprint in the Arabian Shield, building on our commitment to exploring high-potential regions. #POW #Oman #exploration #copper #ArabianShield 🇬🇧 $POW 🇺🇸 $POWMF

🚀 Exciting announcement from Power Metal Resources in Saudi Arabia! 🇸🇦 We are thrilled to announce that we’ve signed a Letter of Intent (LOI) with Al Masane Al Kobra Mining Company (AMAK) to enter into a binding agreement for Power Metal to spend US$3,000,000 to earn a 49% stake in the Qatan exploration licence in Saudi Arabia. Read the full announcement here: https://bit.ly/3MG9aj0 The Agreement marks a major milestone in our expansion into the Arabian Shield. By combining AMAK’s local expertise with our technical team’s capabilities, we aim to unlock the full potential of this promising region. We’re eager to begin work at Qatan and believe this partnership will create significant value for both Power Metal and AMAK. A formal and legally binding agreement is expected to be executed by the Parties within 90 days of executing the LOI. #POW #AMAK #Exploration #SaudiArabia 🇬🇧 $POW 🇺🇸 $POWMF

The #POW spin-off and #IPO last year of #GMET perfectly demonstrates our business model and ability to crystallise value for shareholders. Our MCAP is now more than fully covered by the value of Power Metal Resources’ 45% holding in Guardian Metal Resources. And yet investors are also getting the rest of the broad portfolio, including our exciting portfolio in #SaudiArabia and #Oman, our significant #uranium portfolio, and all our other projects. 🇬🇧 $POW 🇺🇸 $POWMF

What is our "Project Incubator" model? Our #POW CEO Sean Wade describes our "Project Incubator" business model in this interview with the great team at Kitco NEWS while at shareholder Rick Rule's 2024 #RuleSymposium 🇬🇧 $POW 🇺🇸 $POWMF #ProjectIncubator