Garfield Project – Exploration Update

Guardian Metal Resources plc (LON:GMET, OTCQB:GMTLF), a strategic development and mineral exploration company focused on tungsten in Nevada, USA, is pleased to provide an exploration update from its 100%-owned Garfield project ("Garfield"), located in the Walker Lane Mineral Belt. Guardian Metal's main objective is to lead the re-establishment of domestic tungsten production in the United States. Results from the Company's projects highlight Nevada's mineral potential and underscore the state's strategic importance in securing a stable and cost-effective supply of critical and precious metals for the USA.

Further to the Company's announcement on 24 April 2025, final analytical results from 21 rock samples have been received and are summarised below, as well as maps which outline the latest Garfield claim position1. While the Company remains focused on its two co-flagship tungsten assets-Pilot Mountain and Tempiute-it recognises the added opportunity its Garfield and Golconda projects represent for its shareholders.

Oliver Friesen, CEO of Guardian Metal, commented:

"Once again our low-cost exploration at Garfield has delivered meaningful results to the business. It is also worth reiterating that we remain focused on structuring any future partnerships around our non-core assets in a way that delivers clear benefits to our shareholders and supports long-term project growth.

"As the resurgence of U.S. mining accelerates, Guardian Metal is well positioned to contribute meaningfully, offering investors direct exposure through our flagship tungsten assets and additional blue-sky upside from early-stage base and precious metal projects like Garfield and Golconda."

TECHNICAL SUMMARY

§ Results from the recently completed field programme have delivered the highest grade gold results to date from Garfield including 61.0 g/t gold (Au) from quartz vein on a mine dump in the Freeze Zone as well as 47.0 g/t Au from mine dump vein material in the Pamlico zone.

§ In addition to 61.0 g/t Au, Freeze Zone results returned several multi-gram mine dump quartz vein samples including 6.6 g/t, 5.7 g/t, 4.4 g/t and 2.1 g/t Au (Table 1, Figures 1 & 2).

§ In addition to 47.0 g/t Au, a Pamlico Zone outcrop rock chip sample (LC-GF-25) from a opaline epithermal quartz vein returned 10.3 g/t Au (Table 1, Figure 2).

§ Silica-adularia alteration observed in outcropping volcaniclastic rock in the newly claimed "Freeze East Zone" is deemed highly prospective for the existence of underlying epithermal mineralisation (Figures 1 & 3).

§ Geological field work has determined that the high-grade epithermal vein structures in the Pamlico and Freeze Zones have the same west-north-westerly (WNW) trending orientations, and are likely genetically related (Figure 1). With the identification of hydrothermal breccias in the "High Grade Zone" (Figure 4), the Company is investigating whether there may be epithermal mineralisation overprinting skarn mineralisation in the "High Grade Zone", directly 4 km along strike of epithermal veins at the Freeze East Zone and Freeze Zone.

§ The Company continues discussions in regard to potential joint-venture or option agreement arrangements covering the Project and will update the market with any material updates when possible.

Table 1: Selected assay results for rock samples collected from geological field work in April 2025

Freeze Zone

Table Note: Samples were assayed by ALS USA Inc using analytical methods Au-ICP21 and ME-MS61, and overlimit analytical methods Au-GRA21, Ag-OG62 and Cu-OG62.

BACKGROUND

Guardian Metal recently retained Dr Lawrence Carter, an independent magmatic-hydrothermal mineral system expert, to conduct a geological field review of the low-sulphidation epithermal gold potential within the Freeze and Pamlico Zones of the Garfield Project. The initial findings from the geological field work at the Pamlico and Freeze zones were announced on 24 April 20251 along with overlimit assay results for previously analysed high-grade samples from Pamlico, and the newly identified silica-adularia alteration observed led to the Company to immediately stake the ground comprising the new Freeze East Zone.

GEOLOGY UPDATE

Geological mapping of epithermal quartz veins and historical mine workings across the Pamlico and Freeze Zones has identified that high grade Au-Ag-Cu epithermal mineralisation (Table 1, Figures 1-3) is consistently orientated along WNW-ESE trending structures. The same orientations are noted for chalcedonic-opaline epithermal quartz veins in the newly claimed area of silica-adularia altered volcaniclastics (with adularia confirmed by K-feldspar staining of rock slabs, Figure 3) in the "Freeze East Zone" (Figure 1). Due to the adularia alteration, the Company considers the newly claimed Freeze East Zone as prospective for underlying precious metal-hosting epithermal vein style mineralisation.

In the "High Grade Zone", copper-magnetite-skarn dominated mineralisation is focussed at the margins of a granitic intrusion. However further follow up has observed structures, veins and notably hydrothermal breccias (e.g. Figure 4) of WNW orientation directly along strike of the historical mine workings, and high-grade dump material, in the Freeze Zone. Previously reported high-grade gold and silver grab samples are also aligned along this WNW orientation. The apparent epithermal system has a strike length of circa 6 km denoted by the gold, silver, copper, antimony and lead mineralisation occurrences. As a result, the Company is now investigating whether epithermal style precious metal mineralisation has overprinted the broader Cu skarn mineralisation in the High-Grade and Powerline Zones at Garfield.

Figure 1: Map of Garfield property showing the High-Grade, Pamlico, Freeze and (newly claimed) Freeze-East zones with rock/dump sample gold assay results and epithermal features.

Figure 2: Photographs of samples of mineralised epithermal colloform-chalcedonic-opaline quartz vein collected from both outcrop and historical mine dumps across the "Pamlico Zone" and "Freeze Zone". See Table 1 for details.

Figure 3: Photographs of samples and K-feldspar staining slabs of the silica-adularia altered volcaniclastic rock outcrops in the Freeze East Zone. Yellow stain indicates adularia.

Figure 4: Hydrothermal breccia in the High Grade zone, directly along strike from the high grade epithermal vein dump material in the Freeze Zone (Table 1).

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, 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.

References

1: Company announcement, Garfield Project - Exploration Update, dated 24 April 2025:

(https://www.londonstockexchange.com/news-article/GMET/garfield-project-exploration-update/17003867)

The Directors of the Company are responsible for the contents of this announcement.