Drilling Update at Case Lake and Announcement of Second Drill Program
DRILLING UPDATE AT CASE LAKE AND ANNOUNCEMENT OF SECOND DRILL
PROGRAM
VANCOUVER, BRITISH COLUMBIA – (November 16 th, 2017) - Power Metals Corp. ("Power
Metals Corp. " or the " Company") (TSX VENTURE:PWM)(FRANKFURT:OAA1) (OTC:AOUFF) is
pleased to announce the nearing completion of our successful 5000 m etre drill program. We
are currently drilling hole #44 (PWM -17-44) and have 5 more shallow holes planned for a total
of 49 holes (See Figure 2 below).
The Company’s recently drilled hole #40 (PWM-17-40) intersected 37.7 m of continuous
pegmatite of which the spodumene zone is from 20.0 to 35.83 m (interval of 15.83 m long) with
up to 30% spodumene in the quartz core (see Figure 1). Assays will be released as soon as they
are available. Assays are pending for the majority of the holes, but examination of the drill core
indicates that the spodumene mineralization is rich, thick and close to surface. For example, in
hole #35 (PWM-17-35), the North Dyke is 6.7 m wide with 10-15% spodumene overall and the
Main Dyke Zone is 29.4 m wide and is composed of multiple pegmatite dykes (Power Metals
press release dated Nov. 2, 2017).
Some highlights of the drill program so far include:
• PWM-17-08: 1.94 % Li2O and 323.75 ppm Ta over 26.0 m
• PWM-17-09: 1.23 % Li2O and 148.0 ppm Ta over 16.0 m
• PWM-17-10: 1.74 % Li2O and 245.96 ppm Ta over 15.06 m
• extended the Main Dyke spodumene pegmatite zone 250 m to the west of the historic
drill holes
Figure 1 PWM-17-40 continuous pegmatite dyke from 8.23 to 45.93 m. Note the presence of high grade pale green spodumene in
quartz core in boxes 5 to 8.
Power Metals prospecting program successfully discovered spodumene mineralization in the
East Dyke (press release dated Oct. 10, 2017) and Northeast Dyke (press release dated Nov. 13,
2017). Two grab samples of spodumene -muscovite-K-feldspar-quartz pegmatite from the East
Dyke were analyzed with up to 2.56 % Li 2O and up to 181 ppm Ta (Tabl e 1). This preliminary
prospecting and assays on the East Dyke indicate that high grade spodumene similar to that on
the Main Dyke exists on the East Dyke.
Table 1 Grab sample assays from East Dyke (NAD 83, Zone 17).
Waypoint Sample No Easting (m) Northing (m) Li2O (%) Ta (ppm)
JK-17-21 529451 578595 5431395 1.03 181
JK-17-35 529457 578593 5431399 2.56 41.5
Power Metals is planning a 2000 m etre drill program on the Northeast Dyke in January 2018.
The Company is also in the final steps of contracting an industry leading metallurgist
experienced in w orking with spodumene pegmatites. Upon receipt of final assay results, an
analysis of the initial characterization of the spodumene in the Main Dyke will be undertaken as
well as other metallurgical testing. The Company will issue a press release once the contract has
been finalized in the near future.
Dr. Selway, VP of Exploration stated “I am pleased that our drill program on the North and Main
Dykes successfully intersected thick high- grade intervals of spodumene pegmatite and I look
forward to receiving the assay results from the Main Dyke drill holes and planning the
upcoming drill program on the Northeast Dyke.”
Figure 2 Case Lake drill plan map.
Quality Control
The grab samples were delivered to Actlabs preparation lab in Timmins by Power Metals’
geologists. The core was crushed and pulverized in Timmins and then s hipped to Actlabs
analytical lab in Ancaster which has ISO 17025 certification. The ore grade Li 2O% was prepared
by sodium peroxide fusion with analysis by ICP-OES with a detection limit of 0.01 % Li2O.
Case Lake
Case Lake Property is located in Steele and Case townships, 80 km east of Cochrane, NE Ontario
close to the Ontario -Quebec border. The Case Lake pegmatite swarm consists of five dykes:
North, Main, South, East and Northeast Dykes. The Northeast Dyke contai ns very coarse -
grained spodumene. Power Metals has an 80% interest with its 20% working interest partner
MGX Minerals Corp. (CSE:XMG).
Qualified Person
Julie Selway, Ph.D., P.Geo. supervised the preparation of the scientific and technical disclosure
in t his news release . Dr. Selway is the VP of Exploration for Power Metals and the Qualified
Person ("QP") as defined by National Instrument 43 -101. Dr. Selway is supervising the
exploration program at Case Lake. Dr. Selway completed a Ph.D. on granitic pegmat ites in 1999
and worked for 3 years as a pegmatite geoscientist for the Ontario Geological Survey. Dr.
Selway also has twenty -three scientific journal articles on pegmatites. A Na tional Instrument
43-101 report has been prepared on Case Lake Property and filed on July 18, 2017.
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. We are committed to building an arsenal of
projects in both lithium and high- growth specialty metals and minerals . We see 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,
Johnathan More, Chairman & Director
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term
is defined in the policies of the TSX Venture Exchange) accepts responsibility for the
adequacy or accuracy of this release.
Power Metals Corp.
Johnathan More
646-661-0409
Cautionary Note Regarding Forward-Looking Information
This press release contains projections and forward-looking information that involve various risks and uncertainties
regarding future events. Such forward -looking information can include without limitation statements based on
current expectations involving a number of risks and uncertainties and are not guarantees of future performance
of Power Metals . There are numerous risks and uncertainties that could cause actual results and Power Metals ’
plans and objectives to differ materially from those expressed in the forward -looking information, including other
factors beyond Power Metals ’ control. Actual results and future events could differ materially from those
anticipated in such information. These and all subsequent written and oral forward- looking information are based
on estimates and opinions of management on the dates they are made and are expressly qualified in their entirety
by this notice. Exce pt as required by law, Power Metals assumes no obligation to update forward -looking
information should circumstances or management’s estimates or opinions change.