Fermi: Exploration Agreement Signed with YNLR

Power Metal Resources plc (AIM:POW, OTCQB:POWMF), the London-listed natural resources exploration company and project incubator with a global portfolio, is pleased to provide an update on the signing of the completed Exploration Agreement between Ya'thi Néné Lands and Resources ("YNLR") and Fermi Exploration Ltd. ("Fermi"), in support of Fermi's ongoing exploration in Northern Saskatchewan, Canada.

The update concerns work undertaken by Fermi, the uranium-focused joint venture (the "Joint Venture" or "JV") comprising Power Metal's portfolio of uranium licences.

HIGHLIGHTS:

• Ya'thi Néné Lands and Resources ("YNLR") and Fermi Exploration have signed an Exploration Agreement between the two parties, and are pleased to announce their mutual commitment to fostering a sustainable and collaborative relationship in the Athabasca region.
• YNLR is owned by three First Nations and four municipalities in northern Saskatchewan and has a mandate to promote and enhance the environmental, social, economic and cultural well-being of current and future Athabasca residents.
• For Fermi, the Exploration Agreement provides support for permitting activities and ongoing support for exploration programs in the region.
• For YNLR and the Athabasca Basin communities, the Agreement establishes terms for ongoing business and employment opportunities, as well as community liaison and engagement.
• This agreement represents a significant step forward in Fermi's ongoing efforts to identify and develop uranium deposits in northern Saskatchewan.

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

"As the first UK-based junior exploration company to sign an Exploration Agreement with the Ya'thi Néné Lands and Resources Office, Fermi is proud to demonstrate its commitment to responsible exploration and the highest standards of Environmental, Social, and Governance (ESG) practice. This agreement marks an important milestone in building a collaborative and respectful relationship with the Denesųłiné First Nation communities and Athabasca municipalities. Fermi looks forward to fostering a strong and mutually beneficial partnership founded on trust, transparency, and shared opportunity."

News Release

The full release from Ya'thi Néné Lands and Resources, can be viewed on the link below:

Fermi Exploration and Ya'thi Néné Lands and Resources Announce Commitment to Collaborative Engagement in the Athabasca Region - Ya' Thi Néné Lands and Resources

REFERENCES

1 https://www.cameconorth.com/community/stories/athabasca-collaboration-agreement-enhances-partnerships

Power Metal Resources plc