Golconda Summit Gold Project - Trenching Results

Guardian Metal Resources plc (LON: GMET, OTCQX: GMTLF), a strategic mineral exploration and development company focused on tungsten in Nevada, USA, is pleased to announce trenching results (Table 1) that confirm and extend high-grade gold (Au) mineralisation at the 100%-owned Golconda Summit Project ("Golconda," "Golconda Summit," or the "Project") located in the Walker Lane Mineral Belt in northern Nevada, USA (Figure 1).

While the Company remains primarily focused on the exploration and development of tungsten at its co-flagship assets in Nevada, supporting the critical reshoring of defence metals to the U.S., it also recognises the growing interest in gold, copper and silver. As such, Guardian remains committed to ensuring that its investors remain exposed to the upside potential of other assets in the portfolio and principally Garfield and Golconda, which have demonstrated strong discovery potential based on the work completed to date.

Highlights:

§ Golconda Summit is located within Nevada's most prolific gold belts, alongside multi-million-ounce deposits, underscoring the discovery potential for a Carlin-type gold system.

§ High-grade gold confirmed in trench samples at the 'Trench Zone' including significant results up to 6.10m at 13.12g/t Au sampled across multiple fault structures within Upper Plate Havallah Sequence rocks.

§ The confirmation of high-grade gold within Upper Plate rocks is particularly encouraging as it suggests strong potential for an extensive mineralised Carlin-type gold system to exist at depth within the more favourable Lower Plate host rocks.

§ An extension to the gold bearing system at Golconda has been identified at the 'Thrust Zone' located 550m to the north of the 'Trench Zone'. The 'Thrust Zone' is part of an open ended, 150m long rock chip anomaly which returned trenching results up to 3.05m at 1.94g/t Au.

Oliver Friesen, CEO of Guardian Metal, commented:

"These trenching results further reinforce our confidence that Golconda Summit has the potential to host a significant Carlin-type gold discovery, situated within the same prolific geological and structural setting as several multi-million-ounce Carlin-type deposits.

"The confirmation of high-grade gold within Upper Plate rocks is particularly encouraging as it suggests strong potential for an extensive mineralised system at depth within the more favourable Lower Plate host rocks. Given the sustained strength in the gold price above US $2,900, these results could not come at a better time as we look to ensure that this Project is monetised for our shareholders while we focus on our core mission of reshoring tungsten mined supply back onto U.S. soil."

Trench Sampling Programme

In November 2024, the Company completed a 527-metre trenching programme across 10 trenches in the 'Trench' and 'Thrust' zones. The programme aimed to confirm high-grade structures identified by previous operators and test for extensions of the mineralised system.

Trenches 10 and 11 were excavated in the central Thrust Zone, whilst trenches 1 to 9 (excluding 6 which was laid out but not trenched) excavated in the Trench Zone located in the southern part of Golconda. Each trench was systematically mapped and sampled at 3.05-metre (10-foot) intervals (with select intervals sampled at shorter intervals), with samples sent for analysis at ALS Global certified laboratories using ME-MS41 and Au-AA23 methods with method Au-GRA21 for overlimit gold samples (Figures 2 and 3).

The highlight assay results from trench sampling in the Thrust Zone and the Trench Zone is set out in Table 1.

Table 1: Trench Sampling Highlight Assay Results

Note: See Figure 3 for trench locations. Results subject to rounding. # By overlimit assay method Au-GRA21.

The Golconda Summit Project is located in the Battle Mountain - Eureka and Getchell Gold Trends in very similar geology to the nearby Nevada Gold Mines' Turquoise Ridge Complex Mine (13 Moz @ 5.02 g/t Au)1, Nevada Gold Mines' Lone Tree Complex (4.06 Moz @ 2.06 g/t Au)2 and SSR Mining Inc.'s Marigold Mine (3.16 Moz Au Measured & Indicated Resource)3 (Figure 1).

Reconnaissance rock chip sampling and detailed field mapping completed by the Company demonstrated strong arsenic anomalism (a key indicator for Carlin-style gold systems) along the Golconda thrust fault (Figure 2) (reported October 2023)*. This triggered the Company to embark on this trenching campaign to confirm and test for extensions to the mineralised system at Golconda.

Company geologists are now working towards 3D integration of these positive results with detailed geological mapping and legacy drill hole data.

*https://www.londonstockexchange.com/news-article/GMET/golconda-summit-gold-project-key-developments/16186413

Media

Figure 1: Regional map showing Golconda in relation to significant nearby gold mines.

Figure 2: Trench mapping and sampling operations at Golconda Summit.

Figure 3: Map of the Golconda Summit Project, rock chip anomalies, trench sample assays and permitted drill sites. Trench numbers annotated.

References

1Bolin, C. L., Fiddes, C., Olcott, J., Yopps, S.W., 2020, Technical Report On The Turquoise Ridge Complex, State Of Nevada, USA, Nevada Gold Mines.

2 Samal, A.R., 2021, NI 43-101 Technical Report on the Mineral Resource Estimates for the Lone Tree Deposit, Nevada, GeoGlobal.

3https://www.ssrmining.com/_resources/pdfs/Reserves-and-Resources.pdf