US Quotation Upgraded to OTCQX Market

US Quotation Upgraded to OTCQX

Golden Metal Resources plc (LON:GMET, OTCQX:GMTLF), a mineral exploration company focused on tungsten, copper, silver, gold and lithium within Nevada, USA, is pleased to announce that the Company has been upgraded from the OTCQB Market to the OTCQX Market in the USA, where it continues to trade under the symbol GMTLF.

In addition, as a reminder, Golden Metal is to change its name to Guardian Metal Resources plc. Formal papers have been submitted to effect this change and the name change confirmation is still awaited from Companies House, which is expected to occur in the coming days. The Company will confirm as soon as this administrative process is complete and would note the stock code will remain as LON:GMET and OTXQX:GMTLF.

Oliver Friesen, CEO of Golden Metal, commented:

"We are delighted that we have been upgraded to the OTCQX Market, which is a reflection of the positive momentum the Company continues to build within the US markets and abroad.

"The Company anticipates a series of operational and corporate news announcements to the market over the coming weeks and months, given the extensive operational activities underway and planned in the field."

About OTCQX

The OTCQX Market is designed for established, investor-focused U.S. and international companies. To qualify for OTCQX, companies must meet high financial standards, follow best practice corporate governance, and demonstrate compliance with applicable securities laws. Graduating to the OTCQX Market marks an important milestone for companies, enabling them to demonstrate their qualifications and build visibility among U.S. investors.

This communication is a "Reach" announcement. RNS Reach is a non-regulatory news service. By using this service an issuer is confirming that the information contained in this announcement is of a non-regulatory nature. Information required to be notified under the AIM Rules for Companies, Market Abuse Regulation or other regulation would be disseminated as an RNS regulatory announcement and not on RNS Reach.

The Pilot Mountain project is an advanced exploration and mineral resource definition stage project located in Mineral County in western Nevada. The project covers an area of 14.80 km2 (3,904.1 acres) and is located 200km southeast of Reno and 18km east of Mina, Nevada. It is well situated for the supply of power, water and skilled labour and proximity to transport infrastructure in Mineral County and is centred around four existing mineral deposits: Garnet; Good Hope; Gunmetal and Desert Scheelite, all of which possess significant skarn-style tungsten-copper-silver-zinc mineralisation. The Pilot Mountain project consists of 176 active lode mining claims and 4 filed mill site claims. The four mill site claims filed at the former Dunham mill site have secure access to groundwater supply sufficient for the proposed project.

Garfield Project

The Garfield Project is an exciting copper-gold-silver prospect consisting of 65 lode mining claims covering 9.18 km2 (2,268 acres) located in Mineral County, Nevada, approximately 14km due east of the town of Hawthorne and 120km due west-northwest of Tonopah. Exploration to date has included detailed geochemical sampling and follow up analysis which highlighted the presence of both porphyry and skarn-type mineralisation and alteration at the 'High-Grade Zone'. Further to this, mapping, prospecting and rock sampling was recently completed with results confirming presence of high-grade copper, silver and gold mineralisation as well as leading to the bedrock discovery of the Pamlico Au Zone with individual rock samples up to 18.35g/t Au, 1,225g/t Ag & 1.89% Cu. Following this, geochemical analysis of the full suite of data confirmed the strong presence of porphyry style mineralisation across the Project, as well as potentially overprinting epithermal style mineralisation leading to increased gold-silver prospectivity.

Kibby Basin Lithium Project

Golconda Summit Project

Stonewall Project