Power Metals Corp.
TSX VENTURE : PWM
FRANKFURT : OAA1

Power Metals Corp.

February 08, 2017 04:01 ET

Power Metals Corp. Confirms Lithium Grades Up to 3.24% at Case Lake

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Feb. 8, 2017) - Power Metals Corp. ("Power Metals Corp." or the "Company") (TSX VENTURE:PWM)(FRANKFURT:OAA1) is very pleased to announce that it has completed the re-sampling and re-evaluation of Case Lake Drill Core from the 2001 and 2010 drilling seasons.

A total of 7 historic drill holes totaling 508.76 m from Platinova's 2001 drill program were relogged and resampled by Caracle Creek Jan. 19-23, 2017. These holes were drilled on 5 sections across Main and North Case Pegmatite Dykes on claim 1213780.

Drill
Hole
Rock
Type
Dyke Composite
from (m)
Composite
to (m)
Weighted
average
(Li2O%)
Length
(m)
Including
DDH-1 spod peg Main Dyke 8.00 14.50 1.43 6.50
DDH-1 spod peg Main Dyke 10.27 11.45 2.34 1.18 including
DDH-1 spod peg Main Dyke 22.70 33.00 1.98 10.30
DDH-1 spod peg Main Dyke 25.00 31.73 2.31 6.73 including
DDH-2 spod peg Main Dyke 38.00 40.55 1.93 2.55
DDH-2 spod peg Main Dyke 44.00 47.30 1.20 3.30
DDH-2 spod peg Main Dyke 49.05 50.00 0.88 0.95
DDH-2 qtz-mus peg Main Dyke 55.90 57.00 0.73 1.10
DDH-4 qtz-feld-mus peg North Dyke 14.80 15.44 0.67 0.64
DDH-4 qtz-feld-mus peg North Dyke 18.00 19.00 0.55 1.00
DDH-4 spod peg Main Dyke 41.86 47.00 1.28 5.14
DDH-4 spod peg Main Dyke 43.32 45.00 2.56 1.68
DDH-5 spod peg Main Dyke 44.00 45.95 2.73 1.95
DDH-5 spod peg Main Dyke 46.57 56.00 1.37 9.43
DDH-5 spod peg Main Dyke 46.57 47.40 2.23 0.83 including
DDH-5 spod peg Main Dyke 53.05 56.00 2.36 2.95 including
DDH-6 spod peg Main Dyke 47.00 47.55 1.57 0.55
DDH-6 spod peg peg dyke 61.92 62.22 0.77 0.30

"We are very pleased with these results, but not surprised - we came into the Case Lake with an appreciation of the quality of the asset. That said, the validation and confirmation going into our upcoming drill program in addition to the recent on-site and regional data compilation program has re-inforced the team's confidence in the perceived dimension and grade of this anomalous body, which stands out as a potentially robust commercial pegmatite across a global spectrum. The project adds a strong fundamental profile to our current portfolio of projects with exciting upside potential through conventional and unconventional processing methods," stated Johnathan More, Chief Executive Officer of Power Metals Corp.

The drill core was resampled so that 1 m of the Case Batholith granodiorite host rock was sampled followed by 1 m long samples of the pegmatite dyke and 1 m of the Case Batholith. The sampling followed lithology boundaries so that only one lithology unit is within a sample. The core was cut in half to produce the samples. If whole core was in the box (3 samples), then 1/2 core sample was cut to put in the sample bag and the remaining half was left in the core box. If 1/2 was in the core box (86 samples), then 1/4 core sample was cut to put in the sample bag and the remaining half was left in the core box. If 1/4 core was in the core box (144 samples), then the entire 1/4 core was put in the sample bag and nothing is left in the core box. The coarse grain size of the spodumene means that 1/8 core would not be representative. In four intervals in the pegmatite, core was missing from the box and could not be resampled. Missing core resulted in short intervals for some of the samples in the relogging program.

The drill core was originally sampled by Platinova in 2001, but it was resampled by Fieldex Exploration Inc in 2010 (Fieldex press release dated Sept. 13, 2010). Platinova's original sampling left 1/2 core in the box and Fieldex's resampling left 1/4 core in the box. Fieldex had an option on the property from Mantis Mineral Corp. Fieldex disclosed the assay highlights of their sampling program.

A total of 258 core samples including QC samples were submitted to Actlabs for analysis by Caracle Creek which includes 233 drill core samples, 13 blanks and 12 Li standards.

John F. Wightman, MSc. (Geology), P.Eng., FGAC, a qualified person, prepared the disclosures reports related to these projects. National Instrument 43-101 reports have not been prepared on these properties.

About Power Metals Corp.

Power Metals Corp is one of Canada's newest premier mining companies with a mandate to explore, develop and acquire high quality mining projects for minerals contributing to power. We are committed to building an arsenal of projects in both lithium and clean power fuels like uranium. We see an unprecedented opportunity to supply the staggering growth of the lithium battery industry.

ON BEHALF OF THE BOARD,

Johnathan More, CEO and Director

Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.

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