POWER METALS APPOINTS GERRY BROCKELSBY AS CEO

VANCOUVER, BC, March 30, 2023 /CNW/ - Power Metals Corp. ("Power Metals" or the "Company") (TSXV: PWM) (FRANKFURT: OAA1) (OTCQB: PWRMF) is pleased to announce the appointment of Mr. Gerry Brockelsby, CFA as Chief Executive Officer.

Mr. Brockelsby has over 45 years of experience in the investment industry in both the equity and debt markets covering a wide range of companies both public and private, from micro-caps to large capitalization companies in a variety of industries. For eight years Gerry was Chief Investment Officer for the Inco Pension Plan where he managed equity and bond portfolios in addition to overall asset mix of the $1 billion plan.  During this period with Inco, he also gained intimate knowledge and experience in the mining industry. 

In 1989, he formed Marquest Asset Management Inc. a registered investment management firm which went on to manage assets for several major pension funds.  In the following years, Marquest built a successful high net worth fund business offering various specialty fund mandates to investors including the management of resource flow-through funds.  Over the course of Gerry's career, he gained extensive experience as a seasoned investor in the resource sector and has developed a sound reputation with both resource companies and investors.  Upon retiring from Marquest, Mr. Brockelsby formed StoneGate Securities Ltd. to provide advisory and investment banking services to the mining community and continue to pursue his passion for investing in the resource sector.

Mr. Brockelsby will replace the Company's founder, Johnathan More. Mr. More will continue to serve as the Company's Chairman to the Board.

Johnathan More, Power Metals' Chairman & Founder commented, "Power Metals is thrilled to have Mr. Brockelsby take the helm as CEO. His knowledge and contacts in the Canadian mining industry are unprecedented as Power Metals is about to build a massive presence in the lithium space. The Company has approximately $10 million in cash and are ready to embark on a large-scale drill and exploration program. Furthermore, we will be updating the market of our immediate exploration plans very shortly."

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

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.

Cautionary Note Regarding Forward-Looking Information
This press release contains forward-looking information based on current expectations, including the use of funds raised under the Offering.  These statements should not be read as guarantees of future performance or results. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from those implied by such statements. Although such statements are based on management's reasonable assumptions, Power Metals assumes no responsibility to update or revise forward-looking information to reflect new events or circumstances unless required by law.

Although the Company believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because the Company can give no assurance that they will prove to be correct. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. These statements speak only as of the date of this press release. Actual results could differ materially from those currently anticipated due to several factors and risks including various risk factors discussed in the Company's disclosure documents which can be found under the Company's profile on www.sedar.com.

This press release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. The TSXV has neither reviewed nor approved the contents of this press release.

SOURCE POWER METALS CORP

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