Power Minerals Limited announced that Executive Director Mr. Mena Habib has been appointed Managing Director, and that former Lake Resources Technical Director Dr. Nicholas Lindsay has been appointed Technical Advisor. Both appointments are effective as of January 9, 2023. Mr. Habib's appointment as Managing Director is in recognition and acknowledgement of the pivotal role he has played in the growth of the Company since his appointment as Executive Director in January 2022.

He has been instrumental in establishing in-country relationships for the Salta Lithium Project and, formulating and implementing the Project's exploration and development strategy, which is focused on expediting commercial outcomes at Salta. Over the past 12 months Mr. Habib has successfully negotiated and entered into MoU agreements with Direct Lithium Extraction (DLE) industry leader, Sunresin New Materials Co. Ltd. (Sunresin) and battery metals end-to-end supply chain solutions provider Xiamen Xiangyu New Energy Co.

Ltd. (Xiamen Xiangyu), and has overseen the commencement of a Mineral Resource definition drilling campaign at the Salta Project, which is currently ongoing. He also oversaw successful maiden drilling programs at the Eyre Peninsula Kaolin-Halloysite Project and Santa Ines Copper-Gold Project. He has extensive experience in management, and sales and marketing, having run multiple businesses with millions of dollars in turnover.

Mr. Habib has a strong depth of experience in investment markets, with specific expertise in emerging companies in the mineral resources sector. He is currently an authorised representative of a Melbourne-based corporate advisory and capital funding company, and a Non-Executive Director of Equinox Resources Ltd.