Power Ore Inc. set to Close on Mann Mine Cobalt Asset and MacMurchy Property

TORONTO, May 30, 2018 /CNW/ - Power Ore Inc. ("Power Ore" or the "Company") (TSX.V: PORE) is pleased to announce that it is set to acquire a 100% interest in the Mann Mine and the MacMurchy properties from Orefinders Resources Inc.

Pursuant to this the Company has made its final application to the TSX Venture Exchange for listing of the Power Ore's shares under the symbol 'PORE'. The Company has been advised that it expects to have its shares available for sale and trading on the TSX Venture Exchange on or about Monday June 4^th, 2018. This date is subject to change and final Exchange approval.

Power Ore is a brand new company, which at closing will have $1 million in cash, 29,973,333 common shares and 100% ownership of two advanced stage assets - the cobalt and silver Mann Mine and the MacMurchy nickel property.

"The initial value proposition for the company is that our flagship asset, the Mann Mine in the Cobalt-Gowganda district of Northern Ontario, holds up extremely well relative to our comparable companies' assets in the region. In fact, the Mann can be considered one of the most advanced stage assets in the district and one of the few that has actual and recent diamond drilling that demonstrates high grade mineralization for both cobalt and silver," said Stephen Stewart, Power Ore's CEO. He continues, "We are starting with a strong asset base, cash in the bank and a low share count which is tightly held by a group of very strong shareholders. Additionally, we will have a very active strategy whereby the market can expect to see Power Ore execute on a series of acquisitions that will make us a very relevant player in the battery metals space in Canada."

About Power Ore Inc.

Power Ore is positioning itself to be the owner of a diversified portfolio of battery metal assets in Canada, and is focused on two things:

1. Assets whose metals are used in the manufacture of Batteries for Electrical Vehicles specifically, Cobalt and Nickel; and
   
2. Advanced stage assets in Canada where discoveries have been made, mineralization is well understood and infrastructure is in place.

Power Ore's first flagship asset is the Mann Silver-Cobalt Mine in the Cobalt – Gowganda district of Ontario.

High grade cobalt & silver intersections at Mann Mine property

For reference these holes are located as follows:

The mineralization on the property occurs as sub-vertical veins and the true width of the intervals is approximately 75% of the quoted values.   

QP Statement
The technical information contained in this news release has been reviewed and approved by Charles Beaudry, P.Geo, Director and Vice President Exploration for Power Ore Inc., who is a Qualified Person as defined in "National Instrument 43-101, Standards of Disclosure for Mineral Projects."

For information and updates on Power Ore, please visit: www.powerore.com   

And please follow us on Twitter @PowerOre

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. Certain information in this press release may contain forward-looking statements. This information is based on current expectations that are subject to significant risks and uncertainties that are difficult to predict. Actual results might differ materially from results suggested in any forward-looking statements. Power Ore assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those reflected in the forward looking-statements unless and until required by securities laws applicable to Power Ore. Additional information identifying risks and uncertainties is contained in filings by Power Ore with Canadian securities regulators, which filings are available under Power Ore profile at www.sedar.com.

SOURCE Power Ore