Power Metal Resources PLC (LON: POW) the AIM listed metals exploration and development company is pleased to announce it has secured an option (the 'Option') to acquire two prospecting licences ('PLs') prospective for gold and nickel and located upon the Tati Greenstone Belt, Botswana.

The Option allows for a 60 business day due diligence period, and should Power Metal exercise the Option, it will undertake the licence acquisitions through its newly formed 100% owned subsidiary Power Metal Resources Botswana (Pty) Limited ('Power Metal Botswana').

Paul Johnson, Chief Executive Officer of Power Metal Resources, commented: 'We recently formed Power Metal Botswana to provide a holding company for new acquisitions in Botswana and I am pleased to announce this first transaction. Subject to due diligence, this acquisition would give the Company exposure to a new strategic project in the heart of the Tati Greenstone Belt, an under explored area which we believe holds considerable potential for new gold and nickel discoveries.

This announcement further confirms the Company's commitment to expanding our operational interests in Botswana, which is a first class destination for responsible exploration companies. Uniquely, the transaction incorporates an Option fee that is convertible into a down payment against project drilling in Botswana.

I look forward to providing further information as our due diligence work progresses.'

Vendor and Prospecting Licence Information

Vital Commodities Pty Ltd, a company registered and Incorporated in Botswana ('VC') VC is a private Botswana company that owns two prospecting licences in Botswana, (the 'Vendors'). VC is 100% owned by Equity Drilling Limited, a company registered and incorporated in Guernsey.

Contact:

Tel: +44 20 7583 8304

Email: info@powermetalresources.com

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