Power Metals Announces Cesium Exploration Plans at West Joe

VANCOUVER, Feb. 20, 2020 - Power Metals Corp. ("Power Metals Corp." or the "Company") (TSX VENTURE:PWM)(FRANKFURT:OAA1)(OTC:PWRMF) is planning a spring/summer stripping and channel sampling program on Li-Cs-Ta West Joe Dyke at Case Lake, 80 km east of Cochrane, northeastern Ontario as a follow up to Power Metals' 2018 drill program. The purpose of the stripping and channel sampling program is to expose, sample and assay the Cesium (Cs) mineralization on surface outcrops at West Joe Dyke and to find more Cs-bearing pegmatite dykes nearby. Pegmatite dykes typically occur in swarms and West Joe is along the SW-NE 3 km long trend of pegmatites from West Joe Dyke to Main Dyke to Northeast Dyke (Figure 1). Power Metals exploration team will search for additional Cs-bearing pegmatite dykes along this trend especially between West Joe and Main Dykes.

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 led 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 was drilling West Joe to target Li mineralization, however the discovery of high-grade Cesium has no doubt changed our focus. Power Metals is lucky that all three commodities (Li-Cs-Ta) occur in the same pegmatite dyke.

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

Power Metals has a valid Exploration Plan (PL-19-000114) from MENDM until Oct. 2021 for stripping at Case Lake. Power Metals exploration team is planning on stripping and power washing outcrops around West Dyke and between West Joe and Main Dyke in search of additional pegmatite dykes. Stripping will be followed by channel sampling at West Joe Dyke. Channel samples assays will be imported as horizontal drill holes in the exploration 3D model for West Joe to help with future drill targeting.

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 9 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 449 cell claims in Steele, Case, Scapa, Pliny and Abbotsford 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 5 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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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.

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SOURCE Power Metals Corp.



Contact

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