A total of $98,295 of debt will be settled with the issuance of 655,300 shares at $0.15 per share. All shares will be subject to a four month hold period from the date of issuance. The debt settlement remains subject to TSX Venture Exchange approval.

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

NEWS RELEASE

VANCOUVER, BRITISH COLUMBIA, January 25, 2019 – Power Metals Corp. (the “Company”) (TSXV: PWM) (FRANKFURT: OAA1) (OTC: PWRMF) announces that it has entered into an agreement to settle certain debt with a creditor.

A total of $98,295 of debt will be settled with the issuance of 655,300 shares at $0.15 per share. All shares will be subject to a four month hold period from the date of issuance.

The debt settlement remains subject to TSX Venture Exchange approval.

About Power Metals Corp.

Power Metals Corp. is a diversified Canadian mining company with a mandate to explore, develop and acquire high quality mining projects. It is committed to building an arsenal of projects in both lithium and high-growth specialty metals and minerals. It sees an unprecedented opportunity to supply the tremendous growth of the lithium battery and clean-technology industries. Learn more at www.powermetalscorp.com

ON BEHALF OF THE BOARD

“Brent Butler”

CEO and Director

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of the content of this news release.

No securities regulatory authority has either approved or disapproved of the contents of this news release. The securities being offered have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any state securities laws, and may not be offered or sold in the United States, or to, or for the account or benefit of, a "U.S. person" (as defined in Regulation S of the U.S. Securities Act) unless pursuant to an exemption therefrom. This press release is for information purposes only and does not constitute an offer to sell or a solicitation of an offer to buy any securities of the Company in any jurisdiction.

FOR FURTHER INFORMATION PLEASE CONTACT:

Power Metals Corp.

Johnathan More 646-661-0409 [email protected]

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