Power Metals Forms Lithium Advisory Board, Discusses Additional Opportunities

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Dec. 12, 2016) - Power Metals Corp. ("Power" or the "Company") (TSX VENTURE:PWM)(FRANKFURT:OAA1) is pleased to announce the first appointments to what will be a growing advisory board comprising of expertise from individuals in all areas of vertically integrated specialty metal production and technology implementation.

Johnathan More, Power Metals CEO, stated, "John and Julie are leading our work programs as we build the Case Lake and Larder River projects which show real merit and potential to become sources of supply for the gigafactories that are being erected globally to meet the geometric rise in demand for metals that form a critical component of battery and energy storage solutions."

John F. Wightman, M.Sc., FGAC, P.Eng.

John earned B.Sc. and M.Sc. degrees in geology from Acadia University. He holds professional registration as a Professional Engineer, Fellow of the Geological Association of Canada, Chartered Cartographer, as a Canada Lands Surveyor and is registered as a prospector in Nova Scotia. As a member of a 4 generation mining / geology family heritage he fully understands the importance of mining as a creator of employment and economic prosperity.

He retired in 1994 as Principal of the Nova Scotia College of Geographic Sciences where he was an instructor and administrator over some 32 years. Since then he has been fully involved in mineral exploration as a prospector and geologist. John brings over 45 years of administrative, management and project planning experience - with a broad foundation of engineering, geology and related technology skills to his management firm - The GOLDFIELDS Group of Companies. Through this entity he manages the affairs of some 10, private, mineral exploration and renewable energy companies with exploration licenses and projects in Nova Scotia and New Brunswick. Many of these properties have been optioned or are being jointly developed with Canadian, American and Australian interests.

John was a founding Director and Vice President of the Mining Association of Nova Scotia (MANS) and has served continuously as a Director of MANS for the past 8 years as well as Chair of the Exploration and Land Access Committee of MANS. In 2013 he was retained by the Nova Scotia Prospectors Association as its Executive Director.

John's contribution to mining was recognized in 2010 by the Nova Scotia Department of Natural Resources when it presented him with the "Industrial Minerals Man of the Year" award. In 2014 he was presented with the "Presidents Award" by the Mining Association of Nova Scotia.

Dr. Julie Selway, Ph.D., P.Geo

Dr. Julie Selway, Ph.D., P.Geo. is an expert in lithium pegmatites. Dr. Selway completed a Ph.D. in lithium pegmatites under the supervision of Dr. Petr Cerny, world-leading pegmatite expert, in 1999. Her Ph.D. thesis work included 15 petalite-, lepidolite- and elbaite-subtype pegmatites world-wide including Tanco pegmatite, Manitoba and Separation Rapids, Ontario. She worked as a Pegmatite Geoscientist for Ontario Geological Survey for 3 years during which she travelled all over northern Ontario and visited about 90% of the pegmatites in northern Ontario including Case pegmatite, Seymour Lake pegmatites and Georgia Lake pegmatites. She has studied the geology of the Case pegmatites and included them in Ontario Geological Survey, Open File Report 6195, 2006. Dr. Selway is an experienced author with 23 peer-reviewed scientific journal articles on the mineralogy of pegmatites including the classic paper entitled: A review of rare-element (Li-Cs-Ta) pegmatite exploration techniques for the Superior Province, Canada and large world-wide tantalum deposits in Exploration and Mining Geology Journal, 2005.

New Acquisitions

The company is reviewing a number of opportunities in the Americas in both junior and more advanced exploration and development projects in specialty metals that are benefiting from the burgeoning battery and energy storage markets.

It is anticipated that the company's suite of assets will be augmented through further acquisition in 2017.

About Power Metals Corp.

Power Metals Corp is one of Canada's newest premier mining companies with a mandate to explore, develop and acquire high quality mining projects for minerals contributing to power. We are committed to building an arsenal of projects in both lithium and clean power fuels like uranium. We see an unprecedented opportunity to supply the staggering growth of the lithium battery industry.

CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION: This news release includes certain "forward-looking statements" under applicable Canadian securities legislation. Forward-looking statements include, but are not limited to, statements with respect to: the mineralization of the Case Lake or Larder River Properties, the payment of funds and incurring of expenditures toward exploration of such properties, and the earning of interests therein. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to: general business, economic, competitive, political and social uncertainties; delay or failure to receive board, shareholder or regulatory approvals; and the results of current exploration and testing. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Specifically, there is no assurance the Company will be able to raise the necessary funds to make all the cash payments and incur all of the exploration expenditures required to earn an interest in any of the mineral properties described herein; that it will be able to verify past drill results; that it will determine the existence of any mineralization, resources or reserves within any of the properties, whether of lithium or any other metal or substance. Accordingly, readers should not place undue reliance on forward-looking statements. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.