Power Metals Expands Case Lake Property

The highlight of the staking is the acquisition of the Abbotsford dome in Abbotsford township. The Abbotsford dome is located on the east end of the 12 km long mineralization trend from West Joe Dyke to Main Dyke to Northeast Dyke to Dome 9. The Abbotsford dome has excellent access with the Translimit Road next to it as well as several logging trails within in it. The dome also has abundant outcrop.

"I am pleased with the staking of the Abbotsford dome along the Li-Cs-Ta mineralization trend from West Joe Dyke to Dome 9. We are now looking at a potential 12 km long mineralization trend open in both directions. The Abbotsford dome has the potential to contain Li-Cs-Ta mineralization similar to the other pegmatite dykes at Case Lake. I look forward to surface mapping of all 4 new domes," said Dr. Selway, VP of Exploration.

The Joe Creek dome is located west of the Case Lake Property, and Kenning Lake and Circle Lake domes are located northwest of the Case Lake Property. The staking of these three domes is part of Power Metals regional exploration plan. All three domes have excellent road access which include logging trails. All three domes have abundant outcrop and are topographic highs.

The claims were staked following our exploration model first described in Power Metals press release dated Nov. 6, 2017. The Li-Cs-Ta pegmatites at Case Lake are hosted by biotite tonalite domes (laccoliths) within the Case Lake Batholith. The dome shape was confirmed by the 2017 drill program. Main, North, East, South and Northeast spodumene pegmatite dykes are exposed on surface and are hosted by the Henry Dome (also known as Dome 8). The West Joe Li-Cs-Ta pegmatite dyke is exposed on surface and is hosted by a new dome (Dome 10). Case Lake Property had 9 identified domes plus the new dome for West Joe. The new staking adds 4 more granitic domes to the Case Lake Property. Each of the newly staked domes have the potential to host Li-Cs-Ta pegmatites.

Power Metals discovered West Joe spodumene pegmatite dyke at the end of the 2018 drill program. Power Metals built a drill trail to access claims on the west side of Little Joe Lake which lead to the discovery. There has been no historic exploration around West Joe Dyke. Power Metals drilled 18 drill holes for a total of 1195.7 m on West Joe Dyke. Cesium ore mineral, pollucite, was intersected in six drill holes at a vertical depth of 5 to 40 m. While the high-grade Lithium and Tantalum (Li and Ta) mineralization at West Joe were obvious to the geologists in the field, the grade of the Cs mineralization was not realized until assays were received after the drill program was completed. Power Metals were drilling West Joe to target Li mineralization and now want to change the focus to the Cs mineralization. Power Metals is fortunate that all three commodities (Li-Cs-Ta) occur in the same pegmatite dyke.

An additional 8 cell claims were staked to connect the Crossover Road to West Joe Dyke. These claims will give Power Metals the ability to build a shorter access trail about 1.8 km long to West Joe Dyke as opposed to the current 4.5 km long access trail from the Crossover Road. An additional 13 claims were staked to connect the Case Lake Property to Dome 7 on Tomlinson Road for land management.

West Joe Dyke contains Cesium (Cs) mineralization as shown by the presence of pollucite in drill core and exceptionally high-grade Cs intervals:

• 14.70 % Cs₂O over 1.0 m, 13.0 to 14.0 m, PWM-18-126
• 12.40 % Cs₂O over 1.0 m, 10.0 to 11.0 m, PWM-18-112
• 6.74 % Cs₂O over 5.0 m, 11.0 to 16.0 m, PWM-18-126

Elevated Cs assays and pollucite has been previously identified in drill hole PWM-18-49 in the first new dyke below Main Dyke:

• 2.00 % Cs₂O over 2.0 m interval, from 32.45 to 34.45 m

Elevated Cs assays has also been identified in drill hole PWM-18-71 in the Northeast Dyke:

• 2.52 % Cs₂O over 1.0 m interval, from 25.0 to 26.0 m

Quality Control
The drill core was sampled so that 1 m of the Case Batholith tonalite host rock was sampled followed by 1 m long samples of the pegmatite dyke and 1 m of the Case Batholith. The sampling followed lithology boundaries so that only one lithology unit is within a sample, except for the < 20 cm pegmatite veins in tonalite which were merged into one sample. The drill core samples were delivered to SGS preparation lab in Cochrane by Power Metals' geologists. The core was then shipped to SGS analytical lab in Lakefield, Ontario which has ISO 17025 certification. Every 20 samples included one external quartz blank, one external lithium standard and one core duplicate. The ore grade Li₂O% was prepared by sodium peroxide fusion with analysis by ICP-OES with a detection limit of 0.002 % Li₂O. A QA/QC review of the standards and blanks for this drill program indicate that they passed and the drill core assays are accurate and not contaminated.

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 Property is 10 km x 9.5 km in size with 14 identified tonalite domes. 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 Dyke on a new tonalite dome. Case Lake Property consists of 556 cell claims in Steele, Case, Scapa, Pliny, Abbotsford and Challies townships, Larder Lake Mining Division. The Case Lake Property is owned 100% by Power Metals. The claims have enough available exploration reserve to keep them in good standing for the next 4 years.

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

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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.

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SOURCE Power Metals Corp.



Contact
Power Metals Corp., Johnathan More, 646-661-0409, info@powermetalscorp.com