Power Metal Resources #POW – Australia Copper-Gold Option Update

Power Metal Resources PLC (LON:POW) the AIM listed metals exploration and development company is pleased to advise shareholders that it has secured a further short extension to its option (the “Option”) to acquire First Development Resources (Pty) Limited (“FDR Australia”), an Australian private company with a portfolio  of copper-gold focused exploration interests in the Paterson Province in the eastern Pilbara Region of Western Australia.

The original Option agreement including terms for option exercise was announced on 19 January 2021 and may be viewed through the following link:

https://www.powermetalresources.com/n/n340/option-signed-australia-copper-gold-acquisition

The original Option exercise period expired on 8 April 2021 and was then extended on 8 April 2021 to 16 April 2021. A further short extension has now been agreed with the vendors to 23 April 2021 which is necessary to allow the Power Metal team sufficient time to finalise due diligence work including work in respect of additional projects in the Paterson Province that may be suitable for acquisition to further build the portfolio. 

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

Notes to Editors:

Power Metal Resources plc (LON:POW) is an AIM listed metals exploration and development company seeking a large scale metal discovery.

The Company has a global portfolio of project interests including precious metals exploration in North America and Australia together with base and strategic metal exploration in Africa. Project interests range from early stage greenfield exploration to later stage prospects currently subject to drill programmes.

The Board and its team of advisors have expertise in project generation, exploration and development and have identified an opportunity to utilise the Company’s position to become a leader in the London market for investors wishing to gain exposure to proactive global metals exploration.