Power Metals Commences Planning for Metallurgical Testing at Case Lake

VANCOUVER, March 21, 2019 -  Power Metals Corp. ("Power Metals Corp." or the "Company") (TSX VENTURE:PWM)(FRANKFURT:OAA1)(OTC:PWRMF) is pleased to announce that we have engaged SGS Canada Inc. regarding metallurgical testing of the spodumene pegmatite Main Dyke on the Case Lake Property, east of Cochrane, Ontario. Power Metals has signed a Non-Disclosure Agreement with SGS and started to transfer key documents to SGS. SGS is planning to start the metallurgical testing with heavy liquid (HL) separation and mineralogy analyses.

The purpose of HL separation test is to float the light minerals like quartz from the heavier spodumene mineral. The HL test will predict the expected spodumene grade and recovery by gravity or dense media separation (DMS). The HL test will determine if a 6% Li₂O spodumene concentrate is possible to be produced using the inexpensive DMS method. The HL test will also offer the specific gravity (SG) cut point of where the separation of spodumene from quartz is best performed.

The mineralogy analyses will identify if the lithium occurs in spodumene or some other minerals like amblygonite, muscovite, lepidolite, petalite, etc. Power Metals is confident that spodumene is the dominant lithium mineral on the property, amblygonite and petalite are absent and lepidolite is only present in trace amounts. Mineralogy will also check the iron content percent within the spodumene crystal.

Highlights for exploration at Case Lake in 2018 include:

• 4571 m, 44 drill holes on Main, new dykes, East and West Joe Dykes
• Discovery of West Joe Li-Ta-Cs spodumene pegmatite
• 1195.73 m, 18 holes on West Joe Dyke
• Discovery of spodumene on Dome 9

Assay highlights on the Main Dyke include:

• 1.42 % Li₂O, 158 ppm Ta over 19.17 m, from 2.00 to 21.17 m, PWM-18-84
• 1.17 % Li₂O, 193 ppm Ta over 27.16 m, from 54.84 to 82.00 m, PWM-18-84

West Joe Dyke intersected exceptionally high-grade lithium intervals:

• 3.88 % Li₂O, 925 ppm Ta over 1.0 m, from 11.0 to 12.0 m, PWM-18-111
• 3.43 % Li₂O, 264 ppm Ta over 1.05 m, from 7.63 to 8.07 m, PWM-18-111B
• 3.88 % Li₂O, 232.0 ppm Ta over 0.82 m, from 42.18 to 43.00 m, PWM-18-124
• 3.20 % Li₂O, 468.93 ppm Ta over 2.10 m, from 26.60 to 28.70 m, PWM-18-123

Dr. Julie Selway, VP of Exploration, stated "I am excited to begin metallurgical testing on the Main Dyke at Case Lake. The metallurgical test results will indicate the economic viability of the Case Lake pegmatites for a future resource estimate."

Case Lake

Case Lake Property is located in Steele and Case townships, 80 km east of Cochrane, NE Ontario close to the Ontario-Quebec border. The Case Lake pegmatite swarm consists of six spodumene dykes: North, Main, South, East and Northeast Dykes on the Henry Dome and the West Joe Dykes. Power Metals has drilled in excess of 14,000 m and 127 drill holes in 2017 and 2018 on the Case Lake Property.

Qualified Person

Julie Selway, Ph.D., P.Geo. supervised the preparation of the scientific and technical disclosure in this news release. Dr. Selway is the VP of Exploration for Power Metals and the Qualified Person ("QP") as defined by National Instrument 43-101. Dr. Selway is supervising the exploration program at Case Lake. Dr. Selway completed a Ph.D. on granitic pegmatites in 1999 and worked for 3 years as a pegmatite geoscientist for the Ontario Geological Survey. Dr. Selway also has twenty-three scientific journal articles on pegmatites. A National Instrument 43-101 report has been prepared on Case Lake Property and filed on July 18, 2017.

About Power Metals Corp.

Power Metals Corp. is a diversified Canadian mining company with a mandate to explore, develop and acquire high quality mining projects. We are committed to building an arsenal of projects in both lithium and high-growth specialty metals and minerals. We see an unprecedented opportunity to supply the tremendous growth of the lithium battery and clean-technology industries. Learn more at www.powermetalscorp.com

ON BEHALF OF THE BOARD,

Johnathan More, Chairman & Director

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of the content of this news release.

No securities regulatory authority has either approved or disapproved of the contents of this news release. The securities being offered have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any state securities laws, and may not be offered or sold in the United States, or to, or for the account or benefit of, a "U.S. person" (as defined in Regulation S of the U.S. Securities Act) unless pursuant to an exemption therefrom. This press release is for information purposes only and does not constitute an offer to sell or a solicitation of an offer to buy any securities of the Company in any jurisdiction.

Cautionary Note Regarding Forward-Looking Information

This press release contains forward-looking information based on current expectations, including the use of funds raised under the Offering. These statements should not be read as guarantees of future performance or results. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from those implied by such statements. Although such statements are based on management's reasonable assumptions, Power Metals assumes no responsibility to update or revise forward-looking information to reflect new events or circumstances unless required by law.

Although the Company believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because the Company can give no assurance that they will prove to be correct. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. These statements speak only as of the date of this press release. Actual results could differ materially from those currently anticipated due to several factors and risks including various risk factors discussed in the Company's disclosure documents which can be found under the Company's profile on www.sedar.com.

This press release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. The TSXV has neither reviewed nor approved the contents of this press release.

SOURCE Power Metals Corp.