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Tati Gold Project, Botswana - Development Update
Power Metal Resources PLC has announced significant progress at its Tati Gold Project in Botswana, with the Environmental Management Plan approved and the access agreement signed, allowing on-site technical work to commence shortly, including rotary air blast drilling. Tuscan Holding PTY LTD will manage and fund this work program at no cost to Power Metal, with the aim of advancing the project towards potential small-scale mining operations. Tuscan has the option to acquire a 75% interest in the key license upon successful completion of a feasibility study and financing of mine infrastructure, while Power Metal retains a 25% interest carried free to production. Disclaimer*
About this update from Power Metal Resources Plc
27th April 2026 Power Metal Resources PLC ("Power Metal" or the "Company") Tati Gold Project, Botswana - Development Update EMP Approved, Access Agreement Signed, Work to Commence Shortly Power Metal Resources PLC (AIM:POW) the London-listed exploration company and project incubator with a global project portfolio, is pleased to announce a commercial update from its 100% owned Tati Gold Project ("Tati" or the "Project") located on the Tati Greenstone Belt ("TGB") near Francistown, Botswana. Further to the share option agreement ("Option" or the "Agreement") entered into with Tuscan Holding PTY LTD ("Tuscan") on 19th June 2024, Power Metal is pleased to report that key permitting and access milestones have now been achieved, paving the way for the commencement of on-site technical work. Highlights: • As announced previously, the Environmental Management Plan ("EMP") for the Tati Gold Project has been formally approved by the relevant government authorities, removing a key permitting milestone required to advance on-site activities including drilling. • The access agreement covering the Project area, and Cherished Hope specifically, has now been signed, providing formal access to the licence area to support the planned work programme. • Work is expected to commence in short order, including site visits to progress drill site investigations and preparations. Rotary air blast ("RAB") drilling is planned following the completion of site preparations. • An extremely strong gold price environment continues to materially support the advancement of the Tati Gold Project and the potential for small-scale mining at Cherished Hope, reinforcing the economic rationale for continued investment and evaluation. • In accordance with the Option, Tuscan will manage and fund the planned work programme, at no cost to Power Metal. Details With the access agreement signed, the Project has completed the key preparatory steps required to move into the next phase of its technical work. Work will be commencing in short order, with site visits planned which will allow the progression to drill site investigations and preparations ahead of the planned drilling campaign. Under the terms of the option agreement, Tuscan is progressing a struc...
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