Mr. Johnathan More reports

POWER METALS ENGAGES MAJOR DRILLING FOR PHASE TWO DRILLING AT CASE LAKE

Power Metals Corp. has engaged Major Drilling Group International Inc. for its coming drill program to be conducted at its 100-per-cent-owned Case Lake project. The company has continued to develop a number of high-priority cesium targets at West Joe and the Main zone further to the recent drilling and high-grade pollucite results encountered in the property.

Haydn Daxter, chief executive officer of Power Metals, commented: "The company is extremely pleased to have partnered with Major Drilling again as we continue to develop our Case Lake project. Drilling is expected to commence in the coming weeks at West Joe and Main zone on high-priority targets that we have identified from recent studies with several industry specialists."

Johnathan More, chairman and founder of Power Metals, commented: "Power Metals remains on target with our exploration programs for 2024 and is fully funded to unlock the potential at Case Lake. The team continues to develop the high-grade pollucite mineralization at West Joe that is seeing a high level of interest for the company."

About Major Drilling Group International Inc.

Major Drilling is one of the world's largest drilling services companies primarily serving the mining industry. Major Drilling maintains field operations and offices in Canada, the United States, Mexico, South America, Africa and Australasia, where specialized global teams provide a complete suite of drilling services for both surface and underground projects.

Major Drilling is independent of the company.

Case Lake property

The Case Lake property is located 80 kilometres east of Cochrane in Northeastern Ontario (close to the Ontario/Quebec border). The property consists of 585 cell claims in Steele, Case, Scapa, Pliny, Abbotsford and Challies townships in the Larder Lake mining division. The property is 10 kilometres by 9.5 kilometres in size with 14 granitic domes. The Case Lake pegmatite swarm consists of six spodumene dikes known as the North, Main, South, East and Northeast dikes on the Henry Dome, and the West Joe dike on a new dome, collectively forming mineralization trend that extends for approximately 10 kilometres.

Power Metals has completed several exploration campaigns that have led to the discovery and expansion of new and historic spodumene-bearing LCT (lithium/cesium/tantalum) pegmatites at Case Lake. The company has drilled a total of 19,607 metres of core between 2017 and 2024 at the property. The Case Lake property is owned 100 per cent by Power Metals. A National Instrument 43-101 technical report has been prepared on the Case Lake property and was filed on July 18, 2017.

Pelletier property

The Pelletier property is located 50 kilometres south of Hearst in Northeastern Ontario (close to a network of forestry roads). The property consists of 337 mineral claims that account for a total of 7,000 hectares in Franz, Roche, Scholfield and Talbot townships in the Porcupine mining division. The Pelletier project is characterized by LCT prospective S-type pegmatitic granites intruding into metasedimentary and amphibolite of the Quetico at or near Archean terrane boundary between the Quetico and Wawa subprovinces.

Decelles property

The Decelles property contains 669 claims, covering 38,404 hectares of LCT prospective ground near the mining centres of Val d'Or and Rouyn-Noranda, Que., approximately 600 kilometres from Montreal. Power Metals acquired the Decelles and Mazerac properties from Winsome Resources in 2023 in a deal that allowed Winsome to increase its stake to 19.59 per cent (refer to press release announced on Aug. 24, 2023). The geology of Decelles property is part of the Archean Pontiac subprovince where S-type, LCT-prospective, pegmatite-bearing, granitic Decelles batholith intrudes into metasedimentary units of the Pontiac group. Spodumene-bearing and beryl-bearing pegmatites have been reported historically within the Pontiac subprovince in association with S-type garnet-muscovite granite. The Decelles property is adjacent to Vision Lithium's Cadillac property, where discovery of high-grade lithium pegmatites was reported in 2022.

Mazerac property

The Mazerac property is located approximately 30 kilometres east of Power Metals' Decelles property near well-established mining camps in the Abitibi region of Canada and is accessible by network of mining-grade forestry roads. The Mazerac property contains 259 claims that cover 14,700 hectares of LCT prospective ground near the mining centre of Val d'Or and Rouyn-Noranda. The regional geology of Mazerac is similar to Decelles where S-type, LCT-prospective, pegmatite-bearing granites of Decelles batholith intrude into metasedimentary units of the Pontiac group. Spodumene-bearing and beryl-bearing pegmatites have been reported historically within the Pontiac subprovince in association with S-type garnet-muscovite granite.

Pollucite and cesium

Pollucite is a rare mineral that hosts high-grade cesium and is associated with highly fractionated, rare element pegmatites. The main source of cesium known globally is pollucite. Currently, the Tanco mine in Manitoba, Canada, is the only operating cesium deposit and holds over 60 per cent of the known reserves globally.

Scientific and technical disclosure

The scientific and technical disclosure included in this news release has been reviewed and approved by Amanuel Bein, PGeo, vice-president of exploration for Power Metals, a qualified person under National Instrument 43-101, Standards of Disclosure of Mineral Projects. Exploration data were collected and verified following the guidelines outlined in CIM's (Canadian Institute of Mining, Metallurgy and Petroleum) Mineral Exploration Best Practice Guidelines.

About Power Metals Corp.

Power Metals is a diversified Canadian mining company with a mandate to explore, develop and acquire high-quality mining projects. It is committed to building an arsenal of projects in both lithium and high-growth specialty metals and minerals. The company sees an unprecedented opportunity to supply the tremendous growth of the lithium battery and clean-technology industries.

We seek Safe Harbor.