24 October 2025

Power Metal Resources PLC

("Power Metal" or the "Company")

Uranium Joint Venture

Fermi Exploration: Exploration Agreement Signed with YNLR

Power Metal Resources plc (AIM:POW, OTCQB:POWMF), the London-listed natural resources exploration company and project incubator with a global portfolio, is pleased to provide an update on the signing of the completed Exploration Agreement between Ya'thi Néné Lands and Resources ("YNLR") and Fermi Exploration Ltd. ("Fermi"), in support of Fermi's ongoing exploration in  Northern Saskatchewan, Canada. 

The update concerns work undertaken by Fermi, the uranium-focused joint venture (the "Joint Venture" or "JV") comprising Power Metal's portfolio of uranium licences.

HIGHLIGHTS:

·    Ya'thi Néné Lands and Resources ("YNLR") and Fermi Exploration have signed an Exploration Agreement between the two parties, and are pleased to announce their mutual commitment to fostering a sustainable and collaborative relationship in the Athabasca region.

·    YNLR is owned by three First Nations and four municipalities in northern Saskatchewan and has a mandate to promote and enhance the environmental, social, economic and cultural well-being of current and future Athabasca residents.

·    For Fermi, the Exploration Agreement provides support for permitting activities and ongoing support for exploration programs in the region.

·    For YNLR and the Athabasca Basin communities,  the Agreement establishes terms for ongoing business and employment opportunities, as well as community liaison and engagement.

·    This agreement represents a significant step forward in Fermi's ongoing efforts to identify and develop uranium deposits in northern Saskatchewan.

Sean Wade, Chief Executive Officer of Power Metal Resources PLC commented:

"As the first UK-based junior exploration company to sign an Exploration Agreement with the Ya'thi Néné Lands and Resources Office, Fermi is proud to demonstrate its commitment to responsible exploration and the highest standards of Environmental, Social, and Governance (ESG) practice. This agreement marks an important milestone in building a collaborative and respectful relationship with the Denesųłiné First Nation communities and Athabasca municipalities. Fermi looks forward to fostering a strong and mutually beneficial partnership founded on trust, transparency, and shared opportunity."

News Release

The full release from Ya'thi Néné Lands and Resources, can be viewed on the link below:

Fermi Exploration and Ya'thi Néné Lands and Resources Announce Commitment to Collaborative Engagement in the Athabasca Region - Ya' Thi Néné Lands and Resources

About Ya'thi Néné Lands and Resources

Ya'thi Néné Lands and Resources ("YNLR"), is a non-profit organisation owned by the Athabasca Denesųłiné First Nations of Hatchet Lake First Nation, Black Lake First Nation, and Fond du Lac First Nation and the Athabasca Municipalities of Stony Rapids, Wollaston Lake, Uranium City, and Camsell Portage. Collectively these seven Athabasca Communities represent the majority of the Indigenous Population in Saskatchewan's far north, and as such, are key partners in delivering responsible mineral exploration in the region.

YNLR was established in June 2016 with a mandate to promote and enhance the environmental, social, economic, and cultural well-being of current and future Athabasca residents. The organization was originally created to administer a collaboration agreement between the seven Athabasca communities, Cameco Corporation, and AREVA Resources Canada (now Orano). Since then, it has expanded its role to include agreements with the majority of exploration companies operating in Saskatchewan's far north.

As part of the permitting process for drill programs in Northern Saskatchewan, exploration companies are required to consult with and inform local communities about their plans. This "duty to consult" is a critical process to ensure compliance with provincial regulations and to respect the rights and interests of the communities who use and live on the land where exploration activities occur.

REFERENCES

1              https://www.cameconorth.com/community/stories/athabasca-collaboration-agreement-enhances-partnerships

NOTES TO EDITORS

Power Metal Resources plc (AIM: POW, OTCQB: POWMF) is a London-listed natural resources exploration company and project incubator which finances and manages global resource projects and is seeking large scale metal discoveries.

The Company has a principal focus on opportunities offering district scale potential across a global portfolio including precious, base and strategic metal exploration in North America, Africa, Saudi Arabia, Oman and Australia.

Project interests range from early-stage greenfield exploration to later-stage prospects currently subject to drill programmes.

Power Metal will develop projects internally or through strategic joint ventures until a project becomes ready for disposal through outright sale or separate listing on a recognised stock exchange thereby crystallising the value generated from our internal exploration and development work.

Value generated through disposals will be deployed internally to drive the Company's growth or may be returned to shareholders through share buy backs, dividends or in-specie distributions of assets.