Power Metals Corp. announced that it has entered into an agreement with Winsome Resources Limited to acquire a 100% interest in Winsome's Decelles and Mazerac projects located in Quebec. Upon closing of the Acquisition, it is anticipated that Winsome will own approximately 19.59% of the outstanding shares.

Winsome currently owns approximately 9.94% of the outstanding common shares of the Company. The new claim option centred about the Mazérac township, covers an area exceeding 149km. The area is located approximately 50km southwest of Val-d'Or, a well-established mining town in the Abitibi region.

The sector is easily accessible by all-season roads servicing Quebec hydroelectric dam Rapid-7, the Decelles water Reservoir and the La Verendrye Park, all enclosed within the Outaouais river watershed. The Mazérac claims are easily accessible by a dense network of trails and other forestry roads. The area is also accessible by boat or seaplane as it is traversed longitudinally by multiple arms and bays forming the Decelles water reservoir, upstream of the Rapid-7 hydroelectric dam of Decelles.

The consolidated rocks of the region are of Precambrian age. The oldest include weathered rocks of sedimentary origin and a few of volcanic origin which are considered part of the Pontiac group. The majority of the bedrock in the region is composed of granitic and syenitic rocks, which have been intruded and mixed with rocks of the Pontiac Group.

Pegmatites and associated aplites have varying textures and reported to be abundant in the region. The schist enclaves of the Pontiac group showing various degrees of assimilation, are locally abundant. Large clusters of pegmatite are essentially homogeneous, however, some of the smaller dykes and lenses are zoned.

Diabase and gabbro dykes cut across all these rocks. Extensive Lidar coverage reveals the influence of tectonics on the topography of the region. The general northeast orientation of the topographic features of the eastern part of the region is controlled by the granite and pegmatite sills in the biotite schists.

There are many north, north-east and north-west trending joints in all the rocks of the region. Power Metals will acquire a 100% interest in Winsome's Decelles and Mazerac projects located in Quebec in consideration for the issuance of 17,650,000 common shares to Winsome. The Acquisition and the issuance of the consideration shares to Winsome are subject to the approval of the TSX Venture Exchange.