Kalahari Key update

Two Shields Investments plc

("TSI", or the "Company")

Kalahari Key update

Two Shields Investments plc, the AIM quoted investment company with a strategy to build a high-quality portfolio of investments in fast growing and scalable digital and technology enabled businesses, is pleased to reproduce the following announcement issued today by Power Metal Resources PLC. The announcement is in relation to an update on the Kalahari Key Mineral Exploration Pty Ltd ("Kalahari Key" or "KKME"). Kalahari Key is a special purpose company in which TSI has a 17.8% stake in.

"Botswana Molopo Farms Complex - Drilling Commences

Power Metal Resources PLC (LON:POW) the AIM listed metals exploration and development company is pleased to provide an update on the Kalahari Key Mineral Exploration Pty Ltd ("Kalahari Key" or "KKME") Molopo Farms Complex Project (the "Project" or "MFC Project"), which is targeting prospective massive nickel sulphide and platinum-group metal ("PGM") mineralisation in Botswana.

OWNERSHIP STRUCTURE - MOLOPO FARMS COMPLEX PROJECT

Power Metal has an 18.26% shareholding in Kalahari Key and has elected to earn in ("Earn-In") to a 40% direct interest in the MFC Project by funding US$500,000 of exploration expenditure in 2020, notably the diamond drilling of selected targets. On completion of the Earn-In, Power Metal will have an effective economic interest of 50.96% in the MFC Project.

For clarity, the US$500,000 cost is fully funded and covered by Power Metal existing cash resources.

HIGHLIGHTS:

· Drilling has commenced for the first of four planned holes constituting the Phase 1 Drilling Programme at the Molopo Farms Complex Project in Botswana.

· The Phase 1 Drilling programme is for an initial planned 2,505m across four diamond core drill holes. Planned target hole depths vary from 525m to 710m.

· Hole 1 has been designed to intersect the first of an initial four high priority targets prospective for massive nickel sulphide mineralisation, delineated by both Time Domain Electromagnetic ("EM") and Natural Field Audio Magneto Telluric ("NF-AMT") geophysics surveys.

· The drilling, logging and sampling is being overseen at site by an experienced independent geological consultancy in line with international best practice.

· Drilling and hole casing is commencing with a rotary tri-cone drill bit through the Kalahari sand cover before switching to a diamond core drill bit at HQ and NQ core diameters for drilling through the host lithologies.

· Core will undergo geological and geotechnical logging and photography ahead of appropriate core sampling and analysis by an accredited laboratory.

· Images from the drilling programme may be viewed through the following link: https://www.powermetalresources.com/gallery/7/molopo-farms-complex-botswana

Paul Johnson, Chief Executive Officer, of Power Metal Resources commented:

"We are very pleased to report the commencement of drilling at the Molopo Farms Complex where high-resolution geophysics has identified a series of exciting high conductivity bodies which could be related to massive sulphide mineralisation. 

The drilling is the culmination of a great deal of high quality technical work and studies undertaken by KKME including a helicopter magnetics and electromagnetics survey and targeted Time Domain Electromagnetic and Natural Field Audio Magneto Telluric ("NF-AMT") ground geophysics surveys.

The technical work is being overseen by a respected independent geological consultancy who have good experience of working on this style of target mineralisation and within Botswana. 

We look forward to providing further updates as the drill programme progresses."

COMPETENT PERSON STATEMENT

The technical information contained in this disclosure has been read and approved by Mr Nick O'Reilly (MSc, DIC, MIMMM, MAusIMM, FGS), who is a qualified geologist and acts as the Competent Person under the AIM Rules - Note for Mining and Oil & Gas Companies. Mr O'Reilly is a Principal consultant working for Mining Analyst Consulting Ltd which has been retained by Power Metal Resources PLC to provide technical support."

This announcement contains inside information for the purposes of article 7 of the Market Abuse Regulation (eu) 596/2014.

-Ends-

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Notes to Editors:

Two Shields Investments plc, the AIM quoted investment company with a strategy to build a portfolio of high-quality investments in fast growing, scalable digital and technology enabled businesses, including those in the cyber security, e-commerce services and consumer sectors. The Company has appointed an experienced Board of Directors with a proven pedigree in the origination, acquisition, development & sale of projects and creating value for shareholders. The investment mandate covers unquoted and quoted businesses, as well as direct project investment. Where appropriate the Board will apply its extensive combined experience to directly support investee businesses achieve their growth potential.