Power Metal Resources plc announced the entire Power Metal team have worked relentlessly to build the Company to its current strong position in the junior resource environment. The next steps taken by the Power Metal group are key to the delivery of value to shareholders and the whole team. Specifically, board leadership of Power Metal Resources PLC with its retained interests needs to be optimized to meet the opportunities available to the Company.

When considering the Power Metal Board, consideration must always be given to the suitability, availability and capability to commit the time and energy required by the Company in the next stage of growth. Sean Wade is to become an Executive Board Director and Chief Executive Officer with immediate effect and is charged with driving Power Metal to the next stage in its corporate growth as outlined in the "Focusing Power Metal" section above. Sean is an experienced corporate executive within the natural resource sector, having held senior roles in mining companies including Berkeley Energia PLC, Pensana PLC and Asia Resource Minerals PLC.

He has worked on numerous transactions in the capital markets, including IPO's, secondary capital raising and M&A in a wide variety of different jurisdictions and exchanges. His extensive network covers numerous capital providers, including institutional funds, family offices and private wealth. Sean started his career at Cazenove & Co in 1993.

In 2007 he was a founding shareholder in Liberum Capital. Since 2012, he has worked in corporate business development and investor relations. He founded Scout Advisory Limited in 2020 undertaking consultancy work with various listed and private companies in the resource exploration mining sector.

His connections with internationally recognised mining companies and investment institutions will enable the Company to develop corporate and financial partnerships necessary to grow the business. The company believe this network will also help accelerate and cement the disposal pathways for certain interests further enhancing the Company's financial strength. As a result of and to focus on certain critical family health matters Paul Johnson is to step down as Chief Executive Officer with immediate effect and from the Board on 17 March 2023.

After stepping down Paul will continue working with the Company and the corporate team on the managerial transition, continuing communication strategies and notably to accelerate the work behind crystallisation of value from the Company's interests. This will include anticipated completion of disposal transactions and ongoing support for spin-out listings and disposals, where applicable.