Launch of Roadshow for US Initial Public Offering

Guardian Metal Resources plc (LON:GMET OTCQB:GMTLF), a US-focused exploration-stage company focused on tungsten in Nevada, US, is pleased to announce that it has launched the roadshow for its initial public offering in the United States of approximately $50 million worth of American Depositary Shares ("ADSs"), each representing five (5) ordinary shares, before underwriting discounts and commissions.

The last reported sale price of Guardian Metal's ordinary shares on March 12, 2026 on AIM, a market of the London Stock Exchange, was £2.45 per ordinary share (equivalent to approximately $16.35 per ADS based on an assumed exchange rate of £1.00 to $1.3349). Based on such assumed offering price, before underwriting discounts and commissions, the estimated total offering size would represent an aggregate of 3,058,100 ADSs. Guardian Metal also expects to grant to the underwriters a 45-day option to purchase up to an additional 15% of the offering size of ADSs at the initial public offering price, before underwriting discounts and commissions. All ADSs to be sold in the proposed offering will be sold by Guardian Metal. The proposed offering is subject to market and other conditions, and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering.

Guardian Metal has applied to list its ADSs on the NYSE American under the ticker symbol "GMTL."

Guardian Metal intends to use the net proceeds from the offering primarily to advance development of its Pilot Mountain tungsten project, as well as to fund exploration and early-stage engineering work at the Tempiute project and other exploration targets and for general corporate purposes.

BMO Capital Markets Corp. is acting as lead book-running manager; Cantor Fitzgerald & Co. is acting as bookrunning manager; and D.A. Davidson & Co. and Berenberg Capital Markets LLC are each acting as co-managers for the offering.

Tamesis Partners LLP is acting as capital markets advisor to Guardian Metal.

The proposed offering will be made only by means of a prospectus. A copy of the preliminary prospectus related to the offering can be obtained from: BMO Capital Markets Corp., Attn: Equity Syndicate Department, 151 W 42nd Street, 32nd Floor, New York, NY 10036, or by email at bmoprospectus@bmo.com.

This announcement must not be acted on or relied on (i) in the United Kingdom, by persons who are not relevant persons, and (ii) in any member state of the EEA, by persons who are not EU Qualified Investors. Any investment or investment activity to which this announcement relates is available only to and will only be engaged with (i) in the United Kingdom, relevant persons, and (ii) in any member state of the EEA, EU Qualified Investors.