GSAe update

Power Metal Resources plc (AIM:POW, OTCQB:POWMF), the London-listed natural resources exploration company and project incubator with a global project portfolio, is pleased to provide an update on its 75% owned subsidiary GSA Environmental Ltd ("GSAe"). GSAe is presently in advanced discussions with numerous parties for the licensing of its core metals extraction technologies and moreover, has recently completed an initial commission for a global titanium dioxide ("TiO2") producer into the treatment of its metal rich wastes streams. Furthermore, GSAe has continued in-house research and development work into multiple industrial wastes, including mine tailings, and thereafter, establishing new proprietary process designs.

Strong progress has been achieved across the spectrum of GSAe's operations, which applies its world leading technologies to enable the economic extraction of critical and strategic materials from 'secondary sources' such as power station ashes, refinery residues, TiO2 wastes and spent catalysts.

Highlights

• Multi-stage commission ongoing with a leading Saudi Arabian company into the remediation of significant volumes of waste arising in its world scale industrial operations;
• Advanced discussions ongoing with respect to a FEED study and related licensing agreement for a metals recovery facility, also in Saudi Arabia. This follows completion of a prefeasibility study successfully undertaken by GSAe earlier in the year;
• First phase commission completed for a global TiO2 producer to treat associated waste streams, which are becoming an increasingly pressing issue throughout the entire industry due to higher disposal costs and the push for zero landfill;
• Joint venture discussions ongoing with a major European recycling company into the remediation of various toxic industrial wastes currently neutralised and sent to landfill, including TiO2 sluice
• Engagement with multiple companies looking to GSAe as a source of critical and other valuable metals such as vanadium, nickel and rare earth elements, including scandium;
• Applying for up to €2.5 million by way of EU backed grant funding, following on the back of the successful award of a sizeable grant from Innovate UK and
• Utilising the proceeds of the aforementioned grant to underpin the development of a multi-feed metals demonstration plant with the view processing assorted toxic wastes generated in industrial facilities across the north of England currently sent to landfill.

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

"It is encouraging to see the progress being made across GSAe and the potential its projects will bring. With the growing demand for critical materials, the use of economic extraction from waste provides an innovative solution and GSAe is building a secure network in Saudia Arabia, the UK, and Europe to reduce the anticipated and ongoing supply deficits in the key materials via sustainable waste extraction.

I look forward to providing the market with further updates on GSAe's activities in due course."