Power Metal Resources PLC announced the Company has signed an agreement to acquire a 100% interest in a package of three gold exploration projects located in the prospective Hemlo North area of Ontario, Canada (together the "Project"). The Project includes three contiguous exploration projects Roger Lake, Olga Lake and Dotted East which together cover an area of 25.82km2 centred approximately 29km north-east of Barrick Gold Corporation's Hemlo Mine which has produced more than 21Moz of gold to date. The Project presents an early stage exploration opportunity prospective for hosting both gold and base metal mineralisation, situated over an underexplored part of the very prospective Hemlo-Schreiber Greenstone Belt. The Project consists a total of 122 Single Cell Mining Claims ("Claims") being vended as three contiguous claim packages (exploration projects); Roger Lake (50 Claims); Olga Lake (42 Claims); and Dotted East (30 Claims). The 122 claims cover a total area of 25.82km2 and are valid through to between 24 July 2022 to 12 December 2022 upon which they can be renewed on an annual basis. To meet the requirements for renewal the Project claims will require an aggregate work spend of CAD 48,800 (circa £28,113) staged prior to the individual claim renewal dates. Access into the area is good with a gravel road running through the centre of the project leading south to Hemlo. The Project footprint is located directly adjacent, to west of the Palladium One Mining Inc. (TSX-V:PDM) Tyko Ni-Cu-PGE Project where a 2020 drilling programme intersected massive sulphides grading up to 7.5m @ 4.5% Ni, 2.9% Cu & 1.0g/t PGE from 5.3 meters down-hole2 over a mineralised target striking 270m. Adjacent and east of the Panther Metals PLC Dotted Lake property where recent surface sampling confirmed high grade gold (18.9g/t Au) at surface. The Acquisition Terms: The vendors of the Project (the "Vendors") are established local prospectors who will continue to work with Power Metal in the local management of the Project; the development and implementation of exploration plans and the identification of new opportunities. The cost of acquisition of the Project is CAD 120,000 (circa £69,130) of which CAD 60,000 (circa £34,565) will be paid in cash and CAD 60,000 through the issue to the Vendors of 1,152,233 new Ordinary Shares of 0.1p each in the Company at an issue price of 3.0 pence per share ("Acquisition Shares"). The cash costs of the acquisition will be funded from Power Metal's existing Canadian Dollar cash account. The Vendors will retain a 2% net smelter royalty ("NSR") in respect of the Exploration Properties. Power Metal may purchase 1% in total of this NSR at any time by making a cash payment of CAD 500,000 to the Vendors. The Exploration Plan: Ongoing exploration spend is at the discretion of Power Metal as the 100% owner of the Project. Preliminary exploration work planned for the project will include both remote sensing data interpretation and ground-based fieldwork with systematic soil sampling and geophysics expected to yield defined targets for future drill testing.  The Province of Ontario has an established mineral exploration industry with a large number of local exploration contractors that could be engaged to fulfill the planned work on a cost effective basis.