15 November 2024
Guardian Metal Resources plc
("Guardian Metal" or the "Company")
Audited Financial Results for the Year Ended 30 June 2024
Notice of Annual General Meeting
Guardian Metal (LON:GMET), a mineral exploration company focused on tungsten, gold, lithium, copper and silver within Nevada, USA, is pleased to announce its consolidated audited results for the year ended 30 June 2024, for the Company and its subsidiaries (together, the "Group").
Highlights from the year under review:
· Strategic U.S. Market Expansion and Capital Raises
In October 2023, we secured an OTCQB listing, enhancing U.S. investors' access to our shares. Highlighting the progress we made across the business in a short period of time, this was followed by our upgrade to the OTCQX Market in June 2024, improving liquidity, visibility, and enabling us to engage a broader audience of institutional and retail investors in the U.S. alongside our continued home market listing on AIM. During the period we raised £750,000 at 15p per share in March 2024 and an additional £506,250 at 22.5p per share in June 2024 - each of these raises was completed with one strategic investor. These funds provide Guardian with the necessary financial flexibility to aggressively explore and develop our key assets at Pilot Mountain and Garfield.
· Pilot Mountain Project Advancements
Pilot Mountain has been at the core of our exploration and development efforts. In July 2023, we entered into a Memorandum of Understanding (MOU) with Oxford Sigma to explore tungsten supply pathways within the nuclear fusion industry. Tungsten, due to its critical chemical properties, is increasingly recognised as essential for radiation shielding and plasma-facing materials, making Pilot Mountain a highly strategic asset in the face of global fusion technical advancements. We also appointed a highly experienced resource geologist to model the existing tungsten, copper, silver, and zinc mineralisation at Desert Scheelite. The geologist's work is crucial for advancing resource expansion, guiding infill drilling, and laying the groundwork for future economic studies. Following that, we obtained necessary permits and began the Company's first ever drilling campaign focused on various exploration and resource infill/step-out targets at our flagship asset. Preliminary results from the drilling campaign were reported during the period and highlighted significant visual tungsten mineralisation at Desert Scheelite, as well as a mineralised and strongly altered porphyry mineralised body at Porphyry South.
· Garfield Project Discoveries
Our Garfield Project has yielded significant exploration results during the period. In December 2023, we identified high-grade copper, gold, and silver mineralisation, with results far exceeding initial expectations. The discovery of two major magnetic anomalies in early 2024 further strengthened the case for a large, buried porphyry system to exist within the Project. In May 2024, inversion modelling confirmed two highly prospective porphyry targets beneath the High-Grade and Power-Line Zones. With these exploration results in hand, we are excited to continue advancing exploration at this promising project, especially as demand for copper and other strategic metals continues to grow globally.
· Golconda Summit Gold Project
The Golconda Summit Gold Project has continued to demonstrate its gold potential with a backdrop of consistently increasing global gold prices. Exploration revealed strong arsenic anomalies along the Golconda thrust fault, which are key indicators of a Carlin-type gold system. Given the proximity to large-scale gold mines and the presence of high-grade gold found at surface within historical trenching, we are of the belief that Golconda Summit holds the potential for a significant Carlin-type gold discovery. Permits were then secured for trenching and drilling, and we look forward to further unlocking the project's value over the coming year.