Guardian Metal Resources PLC Announces Pilot Mountain Drilling Update

Guardian Metal Resources PLC

Mon, Dec 30, 2024, 4:40 AM 21 min read

Guardian Metal Resources plc (LON:GMET)(OTCQX:GMTLF), a strategic mineral exploration and development company focused in Nevada, USA, is pleased to announce further drillhole assay results from the Company's ongoing drilling campaign at its 100% owned Pilot Mountain tungsten project ("Pilot Mountain" or the "Project) located in Nevada, USA.

Laboratory assay results from drill core samples have been received from the next batch of drillholes covering PM24-018 to PM24-028 with some further very high-grade tungsten results being intersected. To date, 39 drillholes have been completed. The drill pad for the 40^th hole is prepared and drilling is expected to recommence on 6 January 2025 (Fig. 1). The Company is also preparing a separate notice permit which will facilitate the preparation of up to 20 drill pads at the Project's 'Garnet' tungsten-copper-silver-zinc zone.

The Company is also now in receipt of the phase I garnet metallurgical results and is in the process of compiling those and will release to the market as soon as it is possible to do so.

The Company previously announced an earlier set of assay results from the Project on 26 November 2024. The assay results included in the database supplied to the Company incorrectly overstated some of the WO₃ assay results for three drillholes. The relevant sections of the announcement of 26 November 2024 are restated below with the corrected and restated WO₃ assay results highlighted in bold in Table 3.

Oliver Friesen, CEO of Guardian Metal, commented:

"This batch of results takes us another step closer to the updated resource estimate which feeds into the updated mine plan and eventual pre-feasibility study for our flagship Pilot Mountain Project. We are also very pleased to have intercepted the two single highest drilled tungsten assays from across the Project, including 3.04% and 3.01% WO_3, highlighting the tremendous upside potential that continues to exist as we advance exploration and development of our flagship asset.

"In tandem, we continue to push forward the due diligence process for the Tempiute Mine & Mill Project which, together with Pilot Mountain, represents a significant portfolio of USA-based tungsten assets which strategically position Guardian Metal to benefit from the resurgence of USA-focused critical metals mining that we expect will gain significant momentum over the next several years."

Desert Scheelite Highlights:

Laboratory assay results confirm multiple tungsten, copper, silver and zinc rich intervals from the latest batch of results, including the two highest tungsten intersections to date from the Project, 3.04% WO₃ (from 122.6m - 123.4m in drillhole PM24-022) and 3.01% WO₃ (from 62.3m - 63.1m in drillhole PM24-023).
Drillhole PM24-022 highlight downhole intersections:
- 44.2m @ 0.234% W0₃, 17.0g/t Ag,1,413ppm Cu & 0.74% Zn from 119.5 - 163.7m (44.2m @ 0.39% WO₃Eq* or 1.45% CuEq**); including
  - 3.7m @ 1.448% W0_3, 21.0g/t Ag, 5,016ppm Cu & 3.33% Zn from 122.6 - 126.3m (3.7m @ 1.94% WO₃Eq* or 7.27% CuEq**); and
    - 8.3m @ 0.359% W0_3,7.1g/t Ag, 3,987ppm Cu & 0.34% Zn from 155.4 - 163.7m (8.3m @ 0.52% WO₃Eq* or 1.93% CuEq**).
Drillhole PM24-018 highlight downhole intersection :
- 20.4 @ 0.514% W0₃, 28.5g/t Ag,5,578ppm Cu & 0.45% Zn from 119.3 - 139.7m (20.4m @ 0.78% WO₃Eq* or 2.93% CuEq**).
Drillhole PM24-023 highlight downhole intersection :

3.8m @ 1.861% W0₃, 52.6g/t Ag, 6874ppm Cu & 0.59% Zn from 59.3 - 63.1m (3.8m @ 2.25% WO₃Eq* or 8.41% CuEq**).

^*,**Copper and W0₃ Equivalent ("WO₃Eq") are calculated using a tungsten price of US $332.5/MTU, a zinc price of US$1.3448/lb, a copper price of US3.9965/lb and a silver price of US$28.72/Oz.

Cautionary note: The metal equivalent calculations do not consider any metallurgical factors and assume 100% recovery and 100% payability of all metals, as a result the stated equivalents are provided for illustrative purposes only.

Results

Table 1: 2024 Drillhole collar table (this RNS)

Hole ID	Zone	UTM Easting^#	UTM Northing^#	Azimuth (deg.)	Dip (deg.)	Down hole Depth (m)
PM24-018	Desert Scheelite	424297	4248353	187	-65	169.8
PM24-019	Desert Scheelite	424234	4248317	178	-59	65.4
PM24-020	Desert Scheelite	424255	4248320	179	-54	66.2
PM24-021	Desert Scheelite	424254	4248348	182	-54	107.4
PM24-022	Desert Scheelite	424234	4248358	178	-64	174.0
PM24-023	Desert Scheelite	424144	4248321	181	-48	74.1
PM24-024	Desert Scheelite	424369	4248337	180	-64	119.8
PM24-025	Desert Scheelite	424358	4248318	175	-75	130.1
PM24-026	Desert Scheelite	424219	4248325	180	-65	9.1
PM24-027	Desert Scheelite	424185	4248325	180	-55	60.0
PM24-028	Desert Scheelite	424185	4248327	184	-53	90.4

^#UTM Zone 11 North NAD83 datum

Table 2: Significant Diamond Drillhole Assay Results¹

Hole ID	Downhole Depth (m)	Interval (m)	W	WO3	Zn	Ag	Cu	Intersection Composites
PM24-018	103.2	104.6	1.40	670	0.08		2.60		25.4	317	4.4m @ 0.08% WO₃, 0.02% Cu, 2.15% Zn & 39.3 g/t Ag
	104.6	106.1	1.50	690	0.09		1.75		25.9	225
	106.1	107.6	1.50	520	0.07		2.13		65.8	204
PM24-018	119.3	120.8	1.50	1,250	0.16		1.65		28.4	212	20.4m @ 0.51% WO₃, 0.56% Cu, 0.45% Zn & 28.5 g/t Ag
	120.8	122.2	1.40	2,960	0.40	Δ	3.38		135.0	566
	122.2	123.9	1.70	1,930	0.24		0.27	F	46.9	191
	123.9	125.3	1.40	960	0.12		0.29	F	9.6	613
	125.3	126.8	1.50	3,710	0.73	Δ	0.07	F	6.8	2,630
	126.8	127.6	0.80	2,710	0.41	Δ	0.06	F	11.2	4,880
	127.6	129.0	1.40	2,340	0.33	Δ	0.03	F	4.4	2,170
	129.0	130.1	1.10	2,950	2.08	Δ	0.06	F	15.6	8,180
	130.1	131.6	1.50	3,660	1.32	Δ	0.05	F	13.3	6,990
	131.6	133.1	1.50	2,260	0.64	Δ	0.07	F	19.2	9,560
	133.1	134.4	1.30	810	0.10		0.08	F	21.0	11,250
	134.4	135.9	1.50	1,750	0.22		0.05	F	18.0	9,580
	135.9	137.3	1.40	750	0.09		0.07	F	24.3	12,400
	137.3	138.8	1.50	3,510	0.65	Δ	0.10	F	23.6	9,670
	138.8	139.7	0.90	2,980	0.47	Δ	0.26	F	47.1	6,590
PM24-019	27.4	28.5	1.10	1,200	0.15		0.11	F	1.0	109	17.7m @ 0.18% WO₃, 0.06% Cu, 0.36% Zn & 4.3 g/t Ag
	28.5	29.5	1.00	1,870	0.24		0.14	F	1.6	119
	29.5	30.8	1.30	420	0.05		0.11	F	1.1	69
	30.8	32.4	1.60	980	0.12		0.12	F	3.8	167
	32.4	34.1	1.70	770	0.10		0.09	F	4.4	103
	34.1	35.6	1.50	570	0.07		0.23	F	5.6	347
	35.6	37.0	1.40	2,610	0.35	Δ	0.88	F	7.3	755
	37.0	38.7	1.70	2,630	0.35	Δ	1.48		5.8	1,365
	38.7	40.2	1.50	1,650	0.21		0.41	F	6.0	1,695
	40.2	41.7	1.50	1,790	0.23		0.27	F	7.8	1,440
	41.7	43.2	1.50	860	0.11		0.12	F	2.5	421
	43.2	44.7	1.50	1,650	0.21		0.19	F	2.7	843
	44.7	45.1	0.40	1,220	0.15		0.05	F	1.8	308
PM24-020	29.1	30.6	1.50	1,710	0.22		0.11	F	2.0	865	13.9m @ 0.26% WO₃, 0.06% Cu, 0.08% Zn & 2.4 g/t Ag
	30.6	32.1	1.50	2,700	0.37	Δ	0.22	F	4.4	841
	32.1	33.6	1.50	2,480	0.33	Δ	0.04	F	1.0	235
	33.6	35.1	1.50	2,970	0.61	Δ	0.08	F	2.3	286
	35.1	36.6	1.50	1,080	0.14		0.07	F	1.6	303
	36.6	38.1	1.50	1,630	0.21		0.07	F	2.7	1,005
	38.1	39.6	1.50	1,550	0.20		0.05	F	5.7	1,785
	39.6	40.8	1.20	1,650	0.21		0.07	F	1.4	116
	40.8	43.0	2.20	1,080	0.14		0.04	F	1.1	159
PM24-020	56.2	57.7	1.50	1,520	0.19		0.12	F	2.8	484	3.8m @ 0.24% WO₃, 0.04% Cu, 0.09% Zn & 2.5 g/t Ag
	57.7	58.8	1.10	880	0.11		0.09	F	3.3	307
	58.8	60.0	1.20	2,800	0.43	Δ	0.05	F	1.3	245
PM24-022	106.4	107.9	1.50	330	0.04		0.99		6.0	438	3.40m @ 0.05% WO₃, 0.07% Cu, 2.19% Zn & 56.3 g/t Ag
PM24-022	107.9	109.8	1.90	440	0.06		3.14		96.0	878	3.40m @ 0.05% WO₃, 0.07% Cu, 2.19% Zn & 56.3 g/t Ag
PM24-022	119.5	121.0	1.50	1,250	0.16		3.94		6.8	1,065		44.2m @ 0.23% WO₃, 0.14% Cu, 0.74% Zn & 17.0 g/t Ag
	121.0	122.6	1.60	880	0.11		2.41		90.8	3,280
	122.6	123.4	0.80	4,970	3.04	Δ	0.65	F	16.1	3,180	3.7m @ 1.45% WO₃, 0.50% Cu, 3.33% Zn & 21.0 g/t Ag
	123.4	124.6	1.20	3,100	1.63	Δ	4.23		23.6	11,350
	124.6	126.3	1.70	4,340	0.57	Δ	3.96		21.5	1,410
	126.3	127.7	1.40	1,590	0.20		0.94	F	112.0	121
	127.7	129.2	1.50	580	0.07		0.12	F	10.8	25
	129.2	132.2	3.00	210	0.03		0.07	F	-	30
	132.2	135.2	3.00	840	0.11		0.11	F	17.2	160
	135.2	136.7	1.50	260	0.03		0.03	F	-	73
	136.7	138.1	1.40	230	0.03		0.03	F	0.5	204
	138.1	139.6	1.50	1,160	0.15		2.89		69.7	786
	139.6	141.0	1.40	890	0.11		0.24	F	89.0	136
	141.0	142.7	1.70	500	0.06		0.04	F	-	46
	142.7	145.4	2.70	180	0.02		0.12	F	0.8	70
	145.4	148.4	3.00	80	0.01		0.09	F	-	94
	148.4	151.5	3.10	250	0.03		0.06	F	0.9	175
	151.5	153.0	1.50	100	0.01		0.04	F	-	69
	153.0	154.2	1.20	100	0.01		0.04	F	-	88
	154.2	155.4	1.20	150	0.02		0.05	F	1.5	114
	155.4	156.5	1.10	3,120	0.41	Δ	1.48		28.9	17,450	8.3m @ 0.36% WO₃, 0.40% Cu, 0.34% Zn & 7.1 g/t Ag
	156.5	158.0	1.50	4,170	0.56	Δ	0.28	F	8.3	4,560
	158.0	159.2	1.20	650	0.08		0.06	F	1.3	867
	159.2	160.3	1.10	3,470	0.46	Δ	0.37	F	4.6	2,760
	160.3	161.8	1.50	70	0.01		0.02	F	-	116
	161.8	163.0	1.20	760	0.10		0.13	F	3.7	564
	163.0	163.7	0.70	8,560	1.37	Δ	0.22	F	4.6	3,040
PM24-023	40.9	42.4	1.50	2,470	0.31	Δ	1.46		2.0	769	7.5m @ 0.19 % WO₃, 0.05% Cu, 0.75% Zn & 2.0 g/t Ag
	42.4	43.9	1.50	3,010	0.41	Δ	1.58		6.3	1,560
	43.9	45.4	1.50	1,070	0.13		0.23	F	1.6	110
	45.4	46.9	1.50	250	0.03		0.16	F	-	103
	46.9	48.4	1.50	420	0.05		0.32	F	-	70
PM24-023	59.3	60.8	1.50	4,680	0.67	Δ	1.11		11.4	10,850	3.8m @ 1.86% WO₃, 0.69% Cu, 0.59% Zn & 52.6 g/t Ag
	60.8	62.3	1.50	2,950	2.44	Δ	0.25	F	72.4	4,880
	62.3	63.1	0.80	2,760	3.01	Δ	0.27	F	92.8	3,160
PM24-024	90.2	91.6	1.40	2,240	0.30	Δ	0.86	F	64.6	807	1.4m @ 0.30% WO₃, 0.08% Cu, 0.86% Zn & 64.6 g/t Ag
PM24-025	76.7	78.2	1.50	2,340	0.30	Δ	0.59	F	42.9	113	1.5m @ 0.30% WO₃, 0.01% Cu, 0.59% Zn & 42.9 g/t Ag
PM24-025	82.7	84.2	1.50	4,000	0.53	Δ	0.12	F	-	111	5.9m @ 0.30% WO₃, 0.07% Cu, 0.36% Zn & 3.2 g/t Ag
	84.2	85.6	1.40	1,770	0.22		0.16	F	2.5	390
	85.6	87.1	1.50	860	0.11		0.65	F	9.7	1,940
	87.1	88.6	1.50	2,600	0.34	Δ	0.49	F	0.6	279
PM24-025	96.1	97.6	1.50	1,560	0.20		0.56	F	4.2	308	3.0m @ 0.25% WO₃, 0.05% Cu, 0.88% Zn & 2.7 g/t Ag
PM24-025	97.6	99.1	1.50	2,380	0.31	Δ	1.20		1.2	741	3.0m @ 0.25% WO₃, 0.05% Cu, 0.88% Zn & 2.7 g/t Ag
PM24-027	51.3	52.8	1.50	1,520	0.19		0.21	F	44.3	244	6.0m @ 0.28% WO₃, 0.02% Cu, 1.35% Zn & 17.8 g/t Ag
	52.8	54.3	1.50	1,690	0.21		0.77	F	20.2	159
	54.3	55.8	1.50	2,620	0.35	Δ	4.10		5.3	202
	55.8	57.3	1.50	2,800	0.38	Δ	0.31	F	1.5	65
PM24-028	53.9	55.4	1.50	2,570	0.33	Δ	3.90		28.0	1,205	4.1m @ 0.31% WO₃, 0.06% Cu, 2.66% Zn & 11.3 g/t Ag
	55.4	57.0	1.60	1,820	0.23		3.11		2.4	350
	57.0	58.0	1.00	3,050	0.41	Δ	0.10	F	0.5	21
PM24-028	63.2	65.5	2.30	1,520	0.19		0.97	F	14.3	914	2.3m @ 0.19% WO₃, 0.09% Cu, 0.97% Zn & g/t 14.3 g/t Ag
PM24-028	70.7	71.9	1.20	1,670	0.21		0.06	F	0.6	44	1.2m @ 0.21% WO₃, 0.06% Zn & 0.6 g/t Ag
PM24-028	74.9	76.4	1.50	2,100	0.28	Δ	0.39	F	23.2	1,190	1.5m @ 0.28% WO₃, 0.12% Cu, 0.39% Zn & 23.2 g/t Ag

Table 2 notes:

Summary of certificated assay results provided by accredited laboratory ALS USA Inc

ppm: parts per million, 10,000 ppm = 1%

a: ALS method ME-ICP61;

b: WO₃ % calculated as W % multiplied by 1.2611

c: ALS method Zn-OG62

Δ: denotesWO₃ % calculated using W ppm (method ME-XRF15c)

F: denotes Zn % calculated using Zn ppm (method ME-ICP61)

A review of the Pilot Mountain assay database identified a change in the laboratory assay method for overlimit tungsten (W-XRF10) to overlimit WO₃ (ME-XRF15c) that was previously not flagged for drill holes PM24-014, PM24-016 & PM24-017, meaning that the overlimit samples for those holes were stated as calculated WO₃ (W % multiplied by 1.2611) as opposed to assayed WO₃. The WO₃ grades in bold type below and in the corresponding Table 3 are corrected and restated from the announcement dated 26 November 2024.² All zinc, silver, copper, and W (analysed via ME-ICP61) results remain unchanged.

PM24-017 downhole highlight drill intersections comprise:

o 46m @ 0.345% W0₃, 12.2g/t Ag, 2,476ppm Cu & 0.37% Zn from 66.4 - 112.4m (46m @ 0.48% WO3Eq* or 1.79% CuEq**); including

- 10.8m @ 0.558% W0₃_, 1.2g/t Ag, 684ppm Cu & 0.18% Zn from 66.4 - 77.2m (10.8m @ 0.60% WO3Eq* or 2.21% CuEq**); and

- 7.6m @ 0.727% W0₃_, 29.2g/t Ag, 10,982ppm Cu (1.098%) & 0.64% Zn from 101.2 - 108.8m (7.6m @ 1.17% WO₃Eq* or 4.33% CuEq**).

PM24-014 downhole highlight drill intersection comprises:

o 15.1m @ 0.133% W0₃, 45.2g/t Ag, 12,923ppm Cu (1.292%) & 0.65% Zn from 20.4 - 35.5m (15.1m @ 0.67% WO3Eq* or 2.49% CuEq**).

Table 3: 26 November 2024 Restated Assay Results

Hole ID	Downhole Depth (m)		Interval (m)	W	WO3		Zn		Ag	Cu	Intersection Composites
Hole ID	From	To	Interval (m)	(ppm) a	(%) b		(%) c		(g/t) a	(ppm) a	(weighted averages) c
PM24-014	20.4	23.5	3.1	1,380	0.17		0.62		17.3	8,230	15.1m @ 0.133% WO₃, 45.2g/t Ag, 0.65 % Zn & 1.29 % Cu
	23.5	25	1.5	1,260	0.16		0.49		30.7	9,940
	25	26.5	1.5	2,210	0.31	Δ	0.86		105	50,200
	26.5	27.8	1.3	860	0.11		0.67		48.2	11,950
	27.8	30	2.2	600	0.08		0.97		142	3,480
	30	31.5	1.5	140	0.02		0.53		5.9	468
	31.5	32.8	1.3	130	0.02		0.64		5.7	782
	32.8	34.3	1.5	1,570	0.20		0.41		7.6	30,600
	34.3	35.5	1.2	720	0.09		0.49		18.3	7,180

PM24-015	25.3	26.8	1.5	1,750	0.22		0.58		5.8	1,315	7.0m @ 0.200% WO₃, 6.2 g/t Ag, 0.79% Zn & 0.18% Cu
	26.8	28.3	1.5	1,860	0.23		1.21 F		8.9	2,880
	28.3	29.3	1	1,730	0.22		0.42		4	1,110
	29.3	32.3	3	1,320	0.17		0.81		5.8	1,700
	33.8	34.8	1	1,070	0.13		0.71		18.2	10,350	2.5m @ 0.069% WO₃, 10.8 g/t Ag, 0.66% Zn & 0.97% Cu
	34.8	36.3	1.5	200	0.03		0.62		5.9	9,300	2.5m @ 0.069% WO₃, 10.8 g/t Ag, 0.66% Zn & 0.97% Cu

PM24-016	78.3	79.8	1.5	1,700	0.21		0.04		1	336	4.6m @ 0.292% WO₃, 42.7 g/t Ag, 0.92% Zn & 0.05% Cu
	79.8	81.4	1.6	2,210	0.30	Δ	1.16	F	1.7	366
	81.4	82.9	1.5	2,800	0.36	Δ	1.56	F	128	802

PM24-017	66.4	68.1	1.7	5,290	1.50	Δ	0.16		4.3	2,030	10.8m @ 0.558% WO₃, 1.23 g/t Ag, 0.18% Zn & 0.07% Cu	46.0m @ 0.345% WO₃, 12.2 g/t Ag, 0.37% Zn & 0.25% Cu
	68.1	69.6	1.5	2,770	0.82	Δ	0.52		2.3	832
	69.6	71.1	1.5	1,870	0.24		0.04		-	75
	71.1	72.7	1.6	3,260	0.42	Δ	0.05		-	446
	72.7	74.2	1.5	1,770	0.22		0.16		1.2	359
	74.2	75.7	1.5	1,460	0.18		0.11		-	169
	75.7	77.2	1.5	3,080	0.41	Δ	0.23		0.5	711
	77.2	78.7	1.5	1,570	0.20		0.2		-	130
	78.7	80.6	1.9	1,290	0.16		0.37		-	99
	80.6	82.1	1.5	150	0.02		0.06		2	29
	82.1	83.5	1.4	110	0.01		0.03		-	32
	83.5	85	1.5	1,240	0.16		0.18		0.6	65
	85	86.5	1.5	670	0.08		0.07		-	81
	86.5	88	1.5	1,490	0.19		0.64		14.9	633
	88	91	3	1,660	0.21		0.09		1.2	163
	91	92.5	1.5	1,290	0.16		0.38		1.6	83
	92.5	93.7	1.2	2,530	0.33	Δ	1.86	F	4.9	273
	93.7	95.2	1.5	240	0.03		0.07		2.6	27
	95.2	96.6	1.4	20	0.00		0.04		-	24
	96.6	98.1	1.5	550	0.07		0.7		32.1	354
	98.1	99.7	1.6	2,310	0.32	Δ	1.3	F	124	225
	99.7	101.2	1.5	1,170	0.15		0.57		5.6	2,220
	101.2	102.7	1.5	2,490	0.32	Δ	0.27		7.9	992	7.6m @ 0.727% WO₃, 29.15 g/t Ag, 0.64% Zn & 1.10% Cu
	102.7	103.6	0.9	3,340	1.51	Δ	0.74		13.6	5,040
	103.6	104.7	1.1	2,640	0.66	Δ	0.25		4.8	2,000
	104.7	105.9	1.2	2,690	1.58	Δ	1.78	F	31.9	16,950
	105.9	107.3	1.4	3,210	0.47	Δ	0.75		19.3	8,680
	107.3	108.8	1.5	2,160	0.27	Δ	0.23		84.6	28,500
	108.8	109.4	0.6	240	0.03		0.12		24.4	12,050
	109.4	111.1	1.7	1,780	0.22		0.07		1.9	880
	111.1	112.4	1.3	2,650	0.35	Δ	0.1		10.2	5,730

Table 3 notes:

Summary of certificated assay results provided by accredited laboratory ALS USA Inc

ppm: parts per million, 10,000 ppm = 1%

a: ALS method ME-ICP61;

b: WO₃ % calculated as W % multiplied by 1.2611

c: ALS method Zn-OG62

Δ: denotesWO₃ % calculated using W ppm (method ME-XRF15c)

F: denotes Zn % calculated using Zn ppm (method ME-ICP61)

Figure 1:2024 drillhole plan map showing the location of all holes drilled to date. Red drill collars represent holes for which assays have been reported, yellow collars are holes still to be reported.

References

1: ALS USA Inc. analytical method utilised: ME-ICP61 for all samples, with ME-ICP61 overlimit samples also analysed using Ore Grade packages Ag-OG62, Cu-OG62, Pb-OG62, Zn-OG62, and W-XRF15c for high-grade tungsten.

2: https://www.londonstockexchange.com/news-article/GMET/pilot-mountain-significant-drill-results/16781172

This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014 (which forms part of domestic UK law pursuant to the European Union (Withdrawal) Act 2018). The Directors of the Company are responsible for the contents of this announcement.

COMPETENT PERSON STATEMENT

The technical information contained in this disclosure has been read and approved by Mr Nick O'Reilly (MSc, DIC, MIMMM QMR, 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 Guardian Metal Resources plc to provide technical support.

Forward Looking Statements

This announcement contains forward-looking statements relating to expected or anticipated future events and anticipated results that are forward-looking in nature and, as a result, are subject to certain risks and uncertainties, such as general economic, market and business conditions, competition for qualified staff, the regulatory process and actions, technical issues, new legislation, uncertainties resulting from potential delays or changes in plans, uncertainties resulting from working in a new political jurisdiction, uncertainties regarding the results of exploration, uncertainties regarding the timing and granting of prospecting rights, uncertainties regarding the timing and granting of regulatory and other third party consents and approvals, uncertainties regarding the Company's or any third party's ability to execute and implement future plans, and the occurrence of unexpected events.

Actual results achieved may vary from the information provided herein as a result of numerous known and unknown risks and uncertainties and other factors.

For further information visitwww.Guardianmetalresources.comor contact the following:

Guardian Metal Resources plc

Oliver Friesen (CEO)

Tel:+44 (0) 20 7583 8304

Cairn Financial Advisers LLP

Nominated Adviser

Sandy Jamieson/Jo Turner/Louise O'Driscoll

Tel: +44 20 7213 0880

Shard Capital Partners LLP

Broker

Damon Heath/Erik Woolgar

Tel: +44 (0) 20 7186 9000

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

SOURCE: Guardian Metal Resources PLC

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