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Power Metals must build on recent positive results at Case Lake

ONTARIO -- Power Metals Corp CEO Johnathan More urged his Exploration team to keep going after they intercepted high-grade spodumene at the New Northeast Dyke on their Case Lake Hard Rock Lithium property.

Dr Julie Selway, VP of Exploration led the team to intersect significant high-grade lithium mineralization on the Northeast Dyke, and as a result of this occurrence, the Company has increased its current drill program from 2,000m to 3,000m.

This discovery followed announcement of an interception of 2.07 % Li2O and 213.96 ppm Ta Over 18.0 m at the nearby Main Dyke during their first program, as well as confirmation of lithium mineralisation on the two new spodumene pegmatite dykes that were discovered down hole of the Main Dyke near the end of the 2017 drill program.

"We are doing a fantastic job," Johnathan More said during a quick phone call, "I'm so pleased because this is a key period when we have to drill out as much resources as we can at Case Lake when we are up there.

"Then comes the Ni-43 report, an important document that will determine how much resources there is at inferred, indicated and measured, and we need to update our model before we can do that. With these findings and if we keep going at this rate, we should have a very interesting report to show our shareholders."

Dr Selway also mentioned, "This is over a 900 meter step -ut from our previously drilled mineralised Main Dyke and the presence of high grade spodumene in the drill core is spectacular. Because of this early success, we will be increasing the drill program from 2000m to 3000m.”

Power Metals is drilling the first drill holes on the Northeast Dyke and the first drill holes on the claim. They started the drill program with drilling shallow holes below the spodumene-rich outcrop of assays up to 7.14% Li2O (see press release dated December 4th 2017) and then stepped out to drill down dip and along strike. These early drill holes are helping Power Metals’ exploration team to determine the orientation of the pegmatite dyke. A preliminary 3D model has been started to help with drill targeting.

The Northeast Dyke is located 900m northeast along strike of the recently completed 5400 m drill program on the North and Main Dykes and is within the same tonalite dome as the North and Main Dykes. Since the Northeast, North and the Main Dykes are along the same strike and within the same dome, this indicates that they were emplaced along the same deep-seated structure. 50 drill holes were completed on the Main Dyke in December 2017 which encountered multiple wide intercepts of very high grade Li20.

Johnathan added, "This is significant event as this major step out on the Northeast Dyke has hit spodumene grades consistent with our previously drilled Main Dyke. This will no doubt substantially increase our numbers when we undertake a resource estimate as drilling continues. I would like to congratulate Julie and our exploration team on this incredible success.”

"Julie is one of the best. She is an expert on lithium pegmatites. She has co-authored twenty-two scientific journal articles on pegmatites. She worked for the Ontario Geological Survey for about 3 years during the tantalum boom in the early 2000’s and walked 90% of the property where we are now."

"She is also an expert on writing NI 43-101 Reports and QA/QC of drill core assays. She has co-authored twenty-three NI43-101 Independent Technical Reports on a wide variety of deposit types including Li pegmatites. She spent over two years supervising the exploration program on the Georgia Lake pegmatites, south of Case Lake, and co-authored four NI 43-101 Reports on the Property. We are so glad to have her on our team."

Johnathan also commented on the recent comment made by MGX Minerals CEO Jared Lazerson during a recent interview, where he mentioned that Case Lake, whom MGX Minerals own 20% working interest, is a good exit play.

"Jared is a smart man and our business partner on both our hard rock and brine assets in Alberta. He has inferred that Case Lake is now a good acquisition target and I won't be hard-pressed to disagree with him."

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