Power Metal Resources PLC Regulatory News (POW)

16th January 2024

Power Metal Resources plc

("Power Metal" or the "Company")

Directorate Change

Power Metal Resources plc (AIM:POW), the London listed exploration company with a global project portfolio, announces a board change.

Owain Morton, Non-executive Director, will step down from the board with immediate effect due to other work obligations as outlined below.

Mr Morton took up the role of Non-executive Director with the Company in October 2022 and subsequently in July 2023 as Director - Technology and Innovation at Ma'aden in Saudi Arabia. Reflecting this new role Mr Morton is unable to continue as Non-executive Director with the Company.

The Board is currently considering a number of outstanding candidates to join the Power Metal Board and further announcements are expected to be made in due course.

Scott Richardson-Brown, Chairman of Power Metal Resources plc, commented: 

"As a Board, we are sad to see Owain step down, but of course fully understand that his new role necessitates this. Owain has become a firm friend of the business and we wish him well in a region where Power Metal also shares strong ambitions.

Recognising the growth in Power Metal, and with a number of what we consider to be strategically key developments pending, we have been working to further enhance the Board of the Company. To this end we have been engaged in discussions with highly influential candidates for Board roles and hope to make further announcements in this regard as soon as possible."

For further information please visit https://www.powermetalresources.com/ or contact:

NOTES TO EDITORS

Power Metal Resources plc - Background

Power Metal Resources plc (AIM:POW) is an AIM listed metals exploration company which finances and manages global resource projects.

The Company has a principal focus on opportunities offering district scale potential across a global portfolio including precious, base and strategic metal exploration in North America, Africa and Australia.

Project interests range from early-stage greenfield exploration to later-stage prospects currently subject to drill programmes.

Power Metal will develop projects internally or through strategic joint ventures until a project becomes ready for disposal through outright sale or separate listing on a recognised stock exchange, thereby crystallising the value generated from our internal exploration and development work.

Value generated through disposals will be deployed internally to grow the Company or may be returned to shareholders through share buy backs, dividends or in-specie distributions of assets.