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 - Second Diamond Drill Hole Commences

Power Metal Resources PLC (LON:POW) the AIM listed metals exploration and development company is pleased to announce the commencement of the second diamond drill hole (KKME 1-6) at 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.

HIGHLIGHTS

· The second hole (KKME 1-6) of a planned 2,505 metre four-hole programme commenced diamond drilling yesterday.

· Hole KKME 1-6 is inclined at 60 degrees and has a planned down-hole target depth of 500m to the upper side of a conductive body modelled from geophysical survey data.

· This second drill collar is located in the project's Tshepo (Hope) Central Target Area, approximately 20km west-southwest of the programme's first drill hole KKME 1-14 and along strike on the shear zone interpreted as the Molopo Farms Complex Feeder Zone.

· The Tshepo (Hope) Central Target Area lies within the centre of the interpreted feeder zone inside the near-surface sub-crop of the Molopo Farms Complex in Licence PL311/2016.

· An analysis of data from agricultural water boreholes in the vicinity shows that serpentinite ultramafic units can be expected directly under the Kalahari cover in this area.

CHIEF EXECUTIVE OFFICER UPDATE

Paul Johnson Chief Executive Officer of Power Metal Resources commented:

"I am pleased to report the second exploration hole, KKME 1-6, to test conductive targets within the Molopo Farms Complex feeder zone has now commenced.

This hole is designed to test Target 1-6 a conductive geophysical body within the Tshepo (Hope) Central Target Area, approximately 20km WSW of the previous hole KKME 1-14, which is located in the project's Chipo (Gift) Northern Target Area.

We look forward to sharing further findings in due course." 

OWNERSHIP STRUCTURE - MOLOPO FARMS COMPLEX PROJECT

Power Metal currently 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 (the "Drill Programme"). On completion of the Earn-In, and on the basis of the current 18.26% shareholding in Kalahari Key, Power Metal will have an effective economic interest of 50.96% in the MFC Project.

THE DRILL PROGRAMME

The Drill Programme is for an initial planned 2,505m across four diamond core drill holes with planned target hole depths varying from 525m to 710m.

The Drill Programme is designed to intersect 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.

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.