Power Metal Resources plc (LON: POW) the AIM listed metals exploration and development company is pleased to announce an update regarding the maiden rotary air blast ('RAB') drill programme targeting the discovery of nickel and platinum group metals ('PGM') at the Haneti Nickel PGM Project ('Haneti' or the 'Project') in Tanzania.

Power Metal holds a 35% ownership interest in Haneti with 65% held by Katoro Gold plc (LON: KAT)('Katoro').

Paul Johnson Chief Executive Officer of Power Metal Resources plc commented: 'We are delighted to report that following receipt of the results from the recently completed RAB drill programme a decision has been made to advance the Haneti Nickel PGM Project to deep diamond drilling.

The extra geological information provided by the recent shallow drilling results and the discovery of new gossanous nickel-copper-magnetite veining at Mihanza Hill, have confirmed that we should proceed to deep diamond drilling in order to assess the potential for economic nickel sulphide mineralisation at Haneti.

With the diamond drilling programme design and drilling contractor appointment currently underway we look forward to providing further updates shortly.'

Contact:

Paul Johnson

Tel: +44 (0) 7766 465 617

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.

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