RCS - Power Metal - Golden Metal Resources - Communications Update

Power Metal ResourcesAnnouncement

15/12/2021 12:35

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RNS Number : 7690V  Power Metal Resources PLC  15 December 2021

15 December 2021

Power Metal Resources PLC

("Power Metal" or the "Company")

Golden Metal Resources - Communications Update

Power Metal Resources plc (LON:POW) the AIM listed metals exploration and
development company provides a communications update for Golden Metal
Resources Limited ("Golden Metal" or "GMT") in which the Company has an 83.13%
interest.

Golden Metal is a Nevada, USA, focused exploration and development company
and is undertaking a planned listing on the London capital markets targeting
April 2022.

 

Golden Metal recently raised £750,000 in Pre-IPO financing and further
information in respect of this is available through the following link:

 

https://www.londonstockexchange.com/news-article/POW/golden-metal-resources-pre-ipo-financing/15244131
(https://www.londonstockexchange.com/news-article/POW/golden-metal-resources-pre-ipo-financing/15244131)

 

 

Launch of New Website and Corporate Presentation

With the progress made across the Golden Metal project portfolio in recent
months, and the various commercial developments including the completion of
the pre-IPO financing, Power Metal and Golden Metal have been working on
marketing and communications materials as exemplified in the new website and
corporate presentation launched today.

The Golden Metal website is now available through the following link:

https://www.goldenmetalresources.com (https://www.goldenmetalresources.com)

The Golden Metal corporate presentation may be accessed directly through the
following link:

 

https://www.goldenmetalresources.com/golden-metal-resources-presentation/
(https://www.goldenmetalresources.com/golden-metal-resources-presentation/)

 

 

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

 Power Metal Resources plc
 Paul Johnson (Chief Executive Officer)                                          +44 (0) 7766 465 617

 SP Angel Corporate Finance (Nomad and Joint Broker)
 Ewan Leggat/Charlie Bouverat                                                    +44 (0) 20 3470 0470

 SI Capital Limited (Joint Broker)
 Nick Emerson                                                                    +44 (0) 1483 413 500

 First Equity Limited (Joint Broker)
 David Cockbill/Jason Robertson                                                  +44 (0) 20 7330 1883

 

NOTES TO EDITORS

Power Metal Resources plc (LON:POW) is an AIM 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 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.

 

Power Metal Exploration Programmes Underway/Results Awaited

Power Metal has exploration programmes completed or underway, with results
awaited, as outlined below:

 

 Project                     Location   POW %            Work Completed or Underway                                                    Results Awaited

 Alamo Gold Project          USA        Earn-in to 75%   Excavation of multiple test pits and mapping & sampling.                      Field results from on-site work programme.
 Athabasca Uranium           Canada     100%             Phase I field exploration completed                                           Laboratory assay results of samples collected for uranium and REEs
 Authier North Lithium       Canada     Earn-in to 100%  Soil & rock sampling completed                                                Laboratory assay results of samples collected
 Ditau Project               Botswana   50%              Preparatory exploration work underway on target I10 leading to planned        Field programme findings and defined drill targets for near term drilling.
                                                         accelerated drilling targeting rare-earth elements and base metals

 Kalahari Copper Belt        Botswana   50%              Exploration programme underway across the South Ghanzi Project and further    Field programme findings and defined drill targets for near term drilling
                                                         exploration at the more recently acquired South Ghanzi Extension and Mamuno
                                                         licence areas
 Molopo Farms                Botswana   53%              Kavango Option to acquire an interest in local project holding company.       Results from various work activities underway as part of the Kavango Option
                                                         Option fee payable through defined work programme
 Tati Gold/Nickel            Botswana   100%             Reverse circulation drill programme completed                                 Laboratory assay results awaited
 Victoria Goldfields         Australia  49.9%            Ongoing exploration across 848km(2) of granted exploration licences           Results from field programme including drill programme underway

 Wallal Gold/Copper Project  Australia  83.33%(1)        Passive seismic and 2D seismic processing work programme completed            Results awaited

(1) assuming all licences held by URE Metals Pty Limited are granted as
outlined in the Company's announcement of 19.11.21 resulting in the issue of
First Development Resources Ltd shares to URE vendors.

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