REG - Power Metal Res. - Significant U Targets Delineated on Reitenbach

Power Metal ResourcesAnnouncement

Tue 07:00

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RNS Number : 3963R  Power Metal Resources PLC  03 February 2026

3rd February 2026

Power Metal Resources PLC

("Power Metal" or the "Company")

Uranium Joint Venture

Fermi Exploration: Significant Pegmatite-Hosted U Targets Delineated on
Reitenbach Property

 

Power Metal Resources plc (AIM: POW, OTCQB: POWMF) is pleased to announce the
results of soil and radon sampling from the Reitenbach Uranium Property in the
Athabasca Basin, Saskatchewan. The Reitenbach Uranium Property is held under
Power Metal's uranium-focused joint venture Fermi Exploration Ltd ("Fermi").

Combined radon and soil geochemical sampling has identified three priority
uranium targets totalling approximately 100 hectares on the Reitenbach
Property, with results consistent with a ribbon-type anomaly formed by glacial
dispersion from a buried bedrock source.

HIGHLIGHTS:

·    Sampling during 2024 and 2025 has successfully determined three
target areas as high-priority targets for pegmatite and fault-hosted uranium
mineralisation

·    The sampling used combined radon and soil sampling to determine the
location of a ribbon-type anomaly, through a mineralised boulder field and
radiometric anomaly, previously highlighted as a significant target area.

·    Reitenbach hosts four further, largely untested radiometrically
anomalous boulder fields, with significant scope for further work to determine
similar targets.

 

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

"The radon and Ionic Leach programmes at Reitenbach have provided a useful
layer of additional geological information in an area where conventional
surface exploration is limited. This work has contributed further ranked
targets to the Company's wider exploration portfolio, supplementing the two
high-impact upcoming drill campaigns on other projects. We intend to continue
applying these techniques selectively to support disciplined target generation
across our assets."

OVERVIEW

The Reitenbach Property is considered highly prospective due to its proximity
to the Needle Falls Shear Zone, a major crustal-scale structure that hosts
multiple occurrences of economic uranium mineralisation along its length.
However, the property is predominantly obscured by surficial sands, gravels,
and boulders, with historical exploration indicating that this cover conceals
more than 90% of the area(1). Historically, this extensive cover has hindered
effective exploration, with several surveys identifying the northern portion
of the property as a priority target, but failing to define a definitive area
of interest.

This work focused on three mineralised boulder trains and integrated in situ
radon sampling with soil sampling analysed by Ionic Leach. The results
indicate the presence of a potential ribbon-style geochemical anomaly and have
delineated three target areas totalling approximately 100 ha. Mineralised
boulder trains have been successfully used to define exploration targets
across northern Saskatchewan, most notably contributing to the discovery of
the Cigar Lake and Triple R uranium deposits.

 

Sampling Program

Following a review of historical exploration data and fieldwork completed in
2024, three sampling areas were delineated: Nuphar North, Nuphar South, and
Goodleap. Across these areas, both Ionic Leach soil sampling and in situ radon
surveys were completed. Key results from 2025 sampling in these areas
includes:

·      Nuphar North: Moderate radon values (up to 8.5) occur north of
the uranium-in-soil and airborne radiometric responses.

·      Nuphar South: High radon values (up to 14.4, with clustered
values around 11) are observed in the northern portion of the area, with
uranium-in-soil anomalies displaced approximately 1.2 km to the south. This
target is the largest of the three areas identified.

·      Goodleap: Elevated radon values are present in the north, with
uranium-in-soil anomalies offset approximately 800 m to the south.

Uranium-in-soil results show a strong correlation with lead isotope ratios and
rare earth element responses, consistent with a potential pegmatite-related
source. Following an assimilation of the results from 2024 and 2025, all three
areas present a similar offset northernly, and 'up-ice' elevated radon result,
with a southerly, and 'down ice' elevation in various elements associated with
uranium-rich pegmatite mineralisation. The location of the sampling areas,
target areas and summarised structural geology is presented in Figure 1.

Figure 1: Location of the Sampling Areas, and Target Areas from the summer
2024 and 2025 exploration on Reitenbach.

Interpretation

The Company interprets the spatial offset between radon and uranium-in-soil
anomalies to reflect glacial transport of uranium-bearing material from a
buried bedrock source located to the north, forming a ribbon-type dispersal
anomaly. In this model, radon is generated by uranium mineralisation at depth
and migrates upward through fractures and groundwater pathways, whereas
elevated uranium concentrations detected in soils are interpreted to be
primarily associated with transported glacial sediments.

Although soil geochemistry is recognised as being influenced predominantly by
shallow material, this characteristic is considered advantageous in the
present context. When integrated with in situ radon data and established
regional ice-flow directions, soil geochemistry provides an effective means of
delineating dispersal patterns and vectoring toward concealed bedrock sources.
This integrated dataset defines robust exploration targets in areas where
surface geology is largely obscured by surficial cover (Figure 2).

Figure 2: Schematic of a Ribbon Type Anomaly applied to the combined radon and
soil sampling on Reitenbach. Modified from DiLabrio, 1990

 

Ribbon-type anomalies and related glacial features, such as clastic dispersal
trains, form through the mass movement of sands, gravels, and boulders during
glaciation. These features record the direction of the most recent ice flow
and reflect down-ice transport of material derived from basement sources.
Bedrock-derived material beneath surficial sediments may be brought toward the
surface through a range of processes, including hydraulic sorting, glacial
reworking, and post-depositional modification. Resulting dispersal features
commonly extend from several hundred metres to as much as 20 km in length,
depending on source strength, ice-flow dynamics, and the nature of the
underlying geology(2).

Ribbon-type anomalies and dispersal trains are well-established exploration
tools in glaciated terranes and have been successfully applied to a range of
commodities, including gold mineralisation in the Red Lake and Hemlo districts
of Ontario(3), diamond exploration in the Northwest Territories(4), and
multiple uranium occurrences in Saskatchewan(5 6).

At Reitenbach, the paleo-ice flow direction has been estimated by provincial
government research to range between 196° and 202° toward the
south-southwest(7). In addition, a 10.5 km-long esker that crosses the
sampling area records an ice-flow direction of approximately 200°, which is
coincident with the orientation of the offset radon and uranium-in-soil
anomalies.

U-Th-REE-Y-Nb-mineralised pegmatites are relatively common within the
Wollaston Domain of northern Saskatchewan. Three significant, well-documented
occurrences-Kulyk Lake, Eagle Lake, and Karin Lake-are located approximately
130-160 km southwest of the Reitenbach Property, along the Needle Falls Shear
Zone. At these occurrences, uranium mineralisation is concentrated along
pegmatite margins and has been subsequently remobilised by later
north-south-trending Tabernor faulting, rendering these structures
uranium-bearing(8).

Similar Tabernor-style fault structures are interpreted to be present on the
Reitenbach Property, having been identified through previously flown QAGMT
airborne magnetic surveys. These structures, and the geology in proximity to
them, are therefore considered priority targets for future exploration,
including drill testing.

 

Next Steps

The Company considers the Nuphar North, Nuphar South and Goodleap targets to
be encouraging; however, additional target generation is required to support
an efficient drilling program. Reitenbach is a large property with further
exploration potential, including areas associated with glacial dispersion
trains and structural corridors such as the Needle Falls Shear Zone.

Given the logistical challenges and costs associated with helicopter-supported
drilling, the Company's strategy is to continue refining and expanding targets
on Reitenbach to ensure that any future drilling program is both technically
robust and capital efficient.

Further work programs are planned to develop further targets to ensure a
comprehensive and efficient drill program in future

 

GLOSSARY

 Airborne Radiometric Survey           A geophysical survey conducted from an aircraft to measure natural gamma
                                       radiation emitted by potassium, uranium, and thorium in near-surface
                                       materials.
 Boulder Field / Boulder Train         A concentration of glacially transported boulders derived from a common
                                       bedrock source, often used in glaciated terrains to vector toward
                                       mineralisation.
 Concealed Bedrock Source              A potential mineralised source located beneath surficial cover such as sands,
                                       gravels, or glacial sediments and not directly exposed at surface.
 Eskers                                Sinuous ridges of sand and gravel deposited by subglacial meltwater streams,
                                       commonly preserving the direction of paleo-ice flow.
 Glacial Dispersion / Dispersal Train  The down-ice transport of bedrock-derived material by glacial processes,
                                       forming linear to ribbon-shaped geochemical or clastic anomalies.
 Ionic Leach Soil Geochemistry         A partial extraction geochemical technique designed to detect mobile ions in
                                       soils, commonly used to identify subtle geochemical anomalies related to
                                       buried mineralisation.
 In Situ Radon Survey                  A ground-based sampling method that measures radon gas concentrations in soil
                                       or shallow subsurface, used as a vector toward uranium mineralisation.
 ²⁰⁶Pb/²⁰⁴Pb Lead Isotopes             A measure of the ratio of uranium-derived lead (known as "radiogenic lead"
                                       ²⁰⁶Pb) to non-radiogenic "primordial" lead (²⁰⁴Pb). High ratios may
                                       suggest uranium mineralisation.
 Pegmatite                             A coarse-grained igneous rock, commonly enriched in rare metals and elements,
                                       which in some cases may host uranium and associated rare earth elements.
 Radiometric Anomaly                   An area exhibiting elevated natural gamma radiation relative to background
                                       levels, potentially indicating uranium or thorium enrichment.
 Ribbon-Type Anomaly                   A linear or elongate geochemical or radon anomaly formed by glacial transport
                                       of mineralised material from a bedrock source, commonly aligned with ice-flow
                                       direction.
 Surficial Cover                       Unconsolidated sediments such as sand, gravel, till, and boulders that overlie
                                       bedrock and may obscure underlying geology.
 Tabernor Fault                        A north-south trending brittle fault system common in northern Saskatchewan,
                                       known to localise and remobilise uranium mineralisation.
 U-Th-REE-Y-Nb                         An elemental association comprising uranium (U), thorium (Th), rare earth
                                       elements (REE), yttrium (Y), and niobium (Nb), commonly associated with
                                       pegmatitic mineral systems.
 Up-Ice / Down-Ice                     Terms describing positions relative to the direction of glacial movement, used
                                       to interpret the source and transport direction of glacially dispersed
                                       material.

 

REFERENCES

(1) Harrigan, D., 1977, Final Report 1976 Field season, Wollaston East
Project, SMDC permits 7-10, 64L-0008

(2) Drake, L.D. 1983. Ore plumes in till. Journal of Geology, 91: 707-713.
doi:10.1086/628821.

(3) McClenaghan, M.B., 2005. Indicator mineral methods in mineral exploration.
Geochemistry: Exploration, Environment, Analysis, 5(3), pp.233-245.

(4) Kirkley, M.B., Grütter, H.S. & Bankey, V., 1991. Kimberlite indicator
minerals - an effective exploration tool. Geological Survey of Canada, Paper
90-22.

(5) Murthy, V.S., 1994. Glacial dispersal of uranium and geochemical
exploration: concepts and case histories. Journal of Geochemical Exploration,
50(1-3), pp.155-169.

(6) McKeough, M.A., Lentz, D.R., McFarlane, C.R.M. & Brown, J., 2013.
Geology and evolution of pegmatite-hosted U-Th ± REE-Y-Nb mineralization,
Kulyk, Eagle, and Karin Lakes region, Wollaston Domain, northern Saskatchewan,
Canada: examples of the dual role of extreme fractionation and hybridization
processes. Journal of Geosciences, 58(4), pp.321-346. doi:10.3190/jgeosci.153.

(7)
https://geohub.saskatchewan.ca/datasets/saskatchewan::ice-flow-indicators-1/about
(https://geohub.saskatchewan.ca/datasets/saskatchewan::ice-flow-indicators-1/about)

(8) McKeough, M.A., Lentz, D.R., McFarlane, C.R.M. & Brown, J., 2013.
Geology and evolution of pegmatite-hosted U-Th ± REE-Y-Nb mineralization,
Kulyk, Eagle, and Karin Lakes region, Wollaston Domain, northern Saskatchewan,
Canada: examples of the dual role of extreme fractionation and hybridization
processes. Journal of Geosciences, 58(4), pp.321-346. doi:10.3190/jgeosci.153.

DiLabio, R.N.W. (1990). Dispersal trains. In: Application de la géologie du
Quaternaire à l'exploration minérale, Cours intensif, APGGQ, Sainte-Foy,
March 1990, pp. 86-107.

 

 

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.

 

 

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/
(https://www.powermetalresources.com/)  or contact:

 Power Metal Resources plc
 Sean Wade (Chief Executive Officer)                                             +44 (0) 20 3778 1396

 SP Angel Corporate Finance LLP (Nomad and Joint Broker)
 Ewan Leggat/Jen Clarke                                                          +44 (0) 20 3470 0470

 Tamesis Partners LLP (Joint Broker)
 Richard Greenfield/Charlie Bendon                                               +44 (0) 20 3882 2868

 BlytheRay (PR Advisors)

 Megan Ray/Rachael Brooks/Alastair Roberts                                       +44 (0) 20 7138 3204

 

NOTES TO EDITORS

Power Metal Resources plc - Background

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.

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