Disposal of Remaining Holding in GMET

Power Metal Resources PLC (AIM:POW, OTCQB:POWMF), the London listed exploration company with a global project portfolio, announces that it has entered into a legally binding Sale and Purchase Agreement (the "SPA") with an investment fund managed by Duquesne Family Office LLC, in connection with the disposal of its remaining stake in Guardian Metal Resources PLC ("GMET").

Pursuant to the SPA, the Company has agreed to sell its remaining holding of 24,699,825 ordinary shares in GMET of £0.001 each (the "Sale Shares"), for a total cash consideration of £13,584,904 before costs, representing a price of 55p per Sale Share. The sale is expected to complete in the coming weeks.

Sean Wade, Chief Executive Officer of Power Metal Resources, commented:

"I am very pleased to be able to announce that we have agreed terms to exit our position in GMET after what has been an enormously successful investment for Power Metal, and one that has generated very considerable shareholder value.

Our original investment in GMET was £1,935,275. Over the course of two disposals, we will have realised £22,809,988 before costs, a return of 11.8 times.

It represents a strong validation of our incubator model and gives us considerable firepower now to pursue other opportunities, a number of which have presented themselves to us in recent weeks.

I look forward to further updating shareholders, as appropriate, on the destination of some of these funds as we continue to build on our proven and successful business model."

AIM Rule 12 Additional Disclosures

The book value of the Sale Shares was £6,915,951 in the audited accounts of the Company at 31 December 2024.