Garfield–High Grade Assays & New Zone Discovered

Overlimit Assay Testing Delivers Exceptional Results up to 15.56% CuEq* (4.92% Cu, 83g/t Ag, 11.2g/t Au) at New 'Freeze Zone'

Guardian Metal Resources plc (LON:GMET, OTCQB:GMTLF), a strategic development and mineral exploration company focused on Nevada, USA, is pleased to announce an exploration update at the Company's 100% owned Garfield project located within the prolific Walker Lane Mineral Belt in Nevada, USA ("Garfield" or the "Project").

BACKGROUND

This update follows on from the additional staking the Company completed at Garfield and subsequently announced on 22 May 20241. Forty-four mineral claims were staked covering an eastern extension zone where follow up prospecting highlighted visible copper mineralisation. Rock sampling across the new area (now named the 'Freeze Zone') was completed and eight rock samples were collected and sent for assay testing, the results from which are highlighted below.

HIGHLIGHTS

§ Prospecting across the Project's recently staked claims has returned exceptional and consistent high-grade copper-gold-silver results from the newly named 'Freeze Zone'.

§ These results include up to 15.56%* and 9.58% CuEq* with 7 of the 8 samples returning >1.75% CuEq*.

§ The ground magnetic geophysics survey recently completed over the 'Freeze Zone' highlights a buried magnetic anomaly proximal to the high-grade rock sample results, pointing to the potential for the Freeze Zone to host a mineralised porphyry system.

§ With this additional new porphyry target it is now postulated that multiple mineralised porphyry centres may exist across the Project.

§ There are now four main named target zones including 'Power-Line', 'High-Grade', 'Pamlico' and now 'Freeze', with varying porphyry, skarn- and epithermal affinity.

§ With this new data in hand the Company is finalising preferred drill target locations and a notice level permit will be submitted to the local Bureau of Land Management ("BLM") office shortly.

Oliver Friesen, CEO of Guardian Metal, commented:

"The 100% Guardian Metal-owned Garfield Project has delivered again with ground magnetics demonstrating an additional magnetic anomaly in the newly named 'Freeze Zone' and exceptionally high grade assay results associated with that zone.

"In total we now have a greater than 6km x 3km mineralised footprint at Garfield, with confirmation of porphyry and skarn as well as epithermal mineralisation across the now four principal target zones. Given the dramatic progress made with Garfield, the Company is quickly moving towards finalising drill targets to drive this very exciting project forward.

"I am also pleased to confirm that the receipt of these assay results, the rocks from which were originally submitted in May, signals the commencement of assay results back from the laboratory following their typically busy summer period, with a steady flow of results expected from here on in for the next several months.

"With the laboratory assay backlog now easing, and drilling still ongoing, we anticipate a very busy autumn and winter period for Guardian Metal, with multiple technical as well as commercial updates across the business, and notably at our flagship Pilot Mountain Project."

REFERENCES

1 https://www.londonstockexchange.com/news-article/GMET/garfield-further-copper-porphyry-targets-secured/16481693

* Copper Equivalent ("CuEq") is calculated using a copper price of US4.1542/lb, a gold price of US$2,497/Oz and a silver price of US$28.38/Oz with recoveries assumed to be 100% as no metallurgical test data is available.

Following the receipt of assay results from the 'Freeze Zone' the Company has released complete maps including all rock sample results obtained for copper, gold and silver across Garfield (see below).

The maps highlight the exceptional and consistent results achieved over a distance of greater than 6km (east-west) and 3km (north-south) across the 'Power-Line', 'High-Grade', 'Pamlico' and 'Freeze' target zones.

The work completed to date highlights the potential for multiple mineralised porphyry systems to exist across the Project's main target zones, locally with associated skarn-type mineralisation as well as epithermal overprinting.

Notably, the recently discovered 'Pamlico' and 'Freeze' zones (in addition to the 'Power-Line' and 'High-Grade' zones) are spatially associated with what appear to be buried magnetic high geophysical anomalies, which is characteristic of porphyry systems.

Complete gold-silver-copper assay results achieved at the 'Freeze Zone' are outlined in Table 1 and point to a very exciting newly staked target area for the Company:

Table 1: Freeze Zone Rock Sample Laboratory Assay Results

Table notes: Rock sample assay results certificated by ALS USA Inc. using methods ME-ICP61a, Au-AA23 and Au-GRA21. Results reported in ppm = parts per million. 1ppm Au equivalent to 1g/t Au.

** Gold assay using Au-GRA21 fire assay and gravimetric finish, due to over limit (>10ppm Au) returned using method Au-AA23.

MEDIA

Figure 1 - Garfield Project showing all copper rock results to date including the 2014/2023/2024 sampling campaigns. The newly named Freeze Zone is located near the eastern edge of the Project.

Figure 2 - Garfield Project showing all gold rock results to date including the 2014/2023/2024 sampling campaigns. The newly named Freeze Zone is located near the eastern edge of the Project.

Figure 3 - Garfield Project showing all silver rock results to date including the 2014/2023/2024 sampling campaigns. The newly named Freeze Zone is located near the eastern edge of the Project.

Figure 4 - Garfield Project showing all copper rock results to date including the 2014/2023/2024 sampling campaigns. In the background are the magnetic results from the recently completed

PROPERTY OWNERSHIP

Guardian Metal holds a 100% interest in the Garfield Project through its wholly-owned Nevada operating company, Golden Metal Resources LLC. A 2% Net Smelter Return Royalty ("NSR Royalty") Interest, of which 1% can be bought back at any time for US$1,000,000, is payable to Sunrise Resources plc (LON:SRES). The NSR Royalty covers the original Garfield Project claims as well as a 1 mile radius outside of those claims which covers roughly half of the current 'High-Grade Zone' footprint. The Pamlico and Freeze Zones are entirely royalty free.