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Ditau Camp Project Botswana – Drilling Update 

Power Metal Resources plc (LON:POW) the London listed exploration company seeking large-scale metal discoveries across its global project portfolio announces an update from the Ditau Camp project (the “Project”) in Botswana.

The Project is held by Botswana based Kanye Resources Pty Limited (“Kanye”), which is a 50/50 joint-venture partnership with Kavango Resources plc (LSE:KAV) (“Kavango”) – who are the operators. 

Kavango confirm the completion of the first diamond drill hole at the Ditau Camp Project, Botswana, hole DITDD003 (the “Borehole”). 

The hole was completed to a total depth of 300.14m, which the Company’s technical team believes has tested the geophysical target at this specific location. 

The Borehole intersected units including a breccia of 20.44m from 83.9m, and a dolomitic carbonate rock from 154.89m. This latter may contain stromatolitic features. 

Kavango’s technical team is now assessing the provenance of the breccia unit, which it believes may represent either a weathered carbonatitic ash flow or a weathered Dwyka tillite.

 In addition, a 7.16m intrusive, considered to be a dolerite, was intersected from 247.73m. 

While the provenance of the breccia unit is uncertain Kavango has performed some initial portable X-Ray Fluorescence (“pXRF”) readings on the matrix and larger clasts, with a view to comparing these with both carbonatitic ash flow and also unweathered Dwyka tillite. The latter has been drilled in recent Kavango diamond drillholes in the region and will be used for these pXRF checks. 

Subsequent to this the cores from DITDD003 will be cut and sent to an accredited laboratory for whole rock analysis with petrological work also carried out on selected samples. 

Hole DITDD003 is one of six planned boreholes in the current programme. The drill rig is currently being moved to the pad for the next hole in the campaign, DITDD004. 

COMPETENT PERSON STATEMENT 

The technical information contained in this disclosure has been read and approved by Mr Nick O’Reilly (MSc, DIC, MIMMM, MAusIMM, FGS), who is a qualified geologist and acts as the Competent Person under the AIM Rules – Note for Mining and Oil & Gas Companies. Mr O’Reilly is a Principal consultant working for Mining Analyst Consulting Ltd which has been retained by Power Metal Resources PLC to provide technical support.

This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 (“MAR”), and is disclosed in accordance with the Company’s obligations under Article 17 of MAR.