Exercise of Warrants

Power Metal Resources PLC

08 October 2026

 

08 October 2026

Power Metal Resources PLC

("Power Metal" or the "Company")

Exercise of Warrants

Power Metal Resources PLC (AIM:POW) ("Power Metal" or the "Company"), the London-listed exploration company and project incubator with a global project portfolio, is pleased to announce that on 6 October 2026, warrants over 13,333,333 ordinary shares of 2 pence each in the Company (“Ordinary Shares”) were exercised by UCAM at an exercise price of £0.10 pence, raising approximately £1.3m for the Company. Accordingly, the Company will issue 13,333,333 Ordinary Shares to satisfy this exercise.

For further information on this transaction please refer to the recent announcement on 28 September 2026:

https://polaris.brighterir.com/public/power_metal_resources/news/rns/story/x2yoymw

Application will be made to the London Stock Exchange for the 13,333,333 Ordinary Shares to be admitted to trading on AIM ("Admission"). It is expected that Admission will become effective and that dealings in the new Ordinary Shares on AIM will commence on or around 13 October 2026. The new Ordinary Shares will rank pari passu with the existing ordinary shares in the Company.

Following Admission, the Company’s issued share capital will consist of  128,943,770 Ordinary Shares, of which 2,694,161 Ordinary Shares are held in Treasury. Accordingly, excluding shares held in Treasury, the Company has 126,249,609 Ordinary Shares in issue. This number will represent the total voting rights in the Company and may be used by shareholders as the denominator for the calculation by which they can determine if they are required to notify their interest in, or a change to their interest in, the Company under the Financial Conduct Authority's Disclosure and Transparency Rules.

This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 ("MAR"), and is disclosed in accordance with the Company's obligations under Article 17 of MAR.

For further information please visit https://www.powermetalresources.com/ or contact:

Power Metal Resources plc
Sean Wade (Chief Executive Officer)	[phone]
SP Angel Corporate Finance LLP (Nomad and Joint Broker)
Ewan Leggat/Jen Clarke	[phone]
Tamesis Partners LLP (Joint Broker)
Richard Greenfield/Charlie Bendon	[phone]
BlytheRay (PR Advisors)
Rachael Brooks/Alastair Roberts	[phone] / [e-mail]

NOTES TO EDITORS

Power Metal Resources plc (AIM: POW, OTCQB: POWMF) is a London-listed metals exploration company 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.

 

END