Announcement • May 23
Guardian Metal Resources PLC Announces Board Changes Guardian Metal Resources PLC announced that Dr. Mark Thorpe is to be appointed to the Board as an Independent Non-Executive Director, subject to completion of the required AIM due diligence process. Dr. Thorpe brings to Guardian Metal decades of experience as a senior mining executive. He is a sustainability specialist with more than 30 years of experience working for major mining companies, focussed on environmental, permitting and community engagement initiatives, across the global mining sector. His experience covers the entire mine life cycle from greenfield exploration through to mine closure and post-closure management, which makes him well qualified to support Guardian Metal as it advances its Nevada-based tungsten projects through key development phases and into production. He holds a Ph.D. in mine land rehabilitation from the University of Saskatchewan and was the Chair of the Board of Directors of the Canada Mining Innovation Council. Dr. Thorpe is replacing Mr. Mark Burnett, who steps down from his role as Non-Executive Director on May 21, 2026. He steps down to focus on other business interests. Announcement • May 15
Guardian Metal Resources PLC Provides Tempiute Tungsten Project Historical Mine Tailings Update Guardian Metal Resources PLC announced an update relating to historical mine tailings present at the Company's Tempiute Tungsten Project located in south-central Nevada less than 250 miles (402 km) southeast of the Company's Pilot Mountain Tungsten Project. Tempiute, formerly known as the Emerson Tungsten Mine, is a significant past producing tungsten mine, which was originally discovered in 1916 and most recently operated during the 1980s. The Company is evaluating near-term resource and tungsten production opportunities across the extensive former producing mine, with the identification of tailings from decades of historical production adding a compelling new dimension to the Project. As a critical defense metal, tungsten has been designated as a strategic priority by the U.S. government. Guardian Metal's mission is to establish its co-flagship tungsten projects as the cornerstone of U.S. mined tungsten supply, directly supporting national efforts to re-establish domestic production. This is intended to help the U.S. reduce reliance on foreign supply chains, strengthen economic and defense security, and deliver long-term value for shareholders. Guardian Metal is evaluating the potential of recovering tungsten and other metals from the historic tailings at Tempiute, with a view to provide an opportunity for near-term, domestically sourced tungsten in the U.S. Through detailed mapping and sampling, the surface area footprint of historical tungsten-enriched mine tailings at Tempiute has been determined to cover approximately 550 acres (2.23 km²). An auger drilling program is planned to commence in June 2026, subject to receipt of required permits, and will enable characterization of the tailings material and surrounding soils for environmental evaluation and assessment of the tungsten resource potential. The combination of modern recovery methods and elevated tungsten prices makes this an increasingly compelling near-term domestic tungsten supply opportunity, while also offering a meaningful reclamation outcome. Previously milled material sitting at surface, combined with existing on-site infrastructure, means the cost and development timeline of a reprocessing operation could compare favourably to a conventional tungsten mining project, subject to confirmation of sufficient tailings tonnage and grade. To determine the economic and environmental remediation potential of historical mine tailings at Tempiute, the Company undertook a detailed mapping and sampling program across the entire historical mine tailings area. Evaluation of publicly available production records, dating back to the 1930s, was correlated with satellite imagery, spectral analysis, and ground mapping to identify the tailings footprint extending down slope from the Tempiute mine. Follow up ground investigation and surface sampling delineated a large tungsten-enriched zone and confirmed the extent of the historical mine tailings area to cover a surface footprint of approximately 550 acres (2.23 km²). Sampling also provided an initial characterisation of the material, verifying the presence of tungsten and other metals. Subject to receipt of the required permits, an auger drilling program is planned to commence in June 2026 to characterise the tailings material and surrounding soils for environmental evaluation and resource potential. This work will advance the Company's environmental inquiry and enable determination of the potential for a tungsten resource. The Company has submitted a Notice to the Bureau of Land Management and the Nevada Division of Environmental Protection for the proposed auger drilling program. Subject to approval, the auger drilling program is targeted to commence in June 2026 and is expected to take approximately three months to complete. The program is designed to allow the Company to make all appropriate inquiries regarding current environmental conditions on site, while estimating the total volume and grade of tungsten and base/precious-metal bearing material present. In parallel, an independent metallurgical study will be completed to determine the most effective method of recovering tungsten and other metals from the tailings, with results expected in the coming months. This study will also characterize the geochemistry of the tailings post tungsten recovery to inform the final reclamation design of the site. Announcement • May 08
Guardian Metal Resources plc Provides Pilot Mountain Pre-Feasibility Progress Update Guardian Metal Resources plc provided a Pre-Feasibility Study ("PFS") progress update on its 100%-owned Pilot Mountain tungsten project ("Pilot Mountain" or the "Project") located in Nevada, USA. The Company reports strong progress across all key PFS workstreams, which are progressing as planned. The PFS is being supported by a U.S. Department of War $6.2 million Defense Production Act Title III investment¹ in Guardian Metal's wholly-owned subsidiary, Golden Metal Resources (USA) LLC, and is led by Guardian Metal's in-house team in collaboration with Samuel Engineering Inc., and a group of specialist engineering and environmental firms. PFS Highlights: Resource Evaluation Update: All drilling required to support the ongoing resource evaluation work at the Desert Scheelite and Garnet Zones has been completed. The final PFS results are expected to include the outcomes of the ongoing resource evaluation workstreams from both of these target zones. Mine Planning: The project is currently being evaluated as a conventional open-pit operation, sourcing ore from both the Desert Scheelite and Garnet Zones. Mine design and optimization are progressing in line with the planned PFS schedule. Permitting: The mine Plan of Operations, which will initiate the National Environmental Policy Act process upon submission to the Bureau of Land Management, is being drafted and developed in parallel with the PFS and is currently targeted for submission in August 2026. Metallurgy: Flowsheet development is well advanced, with preliminary test work results to date suggesting a conventional flotation circuit capable of producing a scheelite concentrate. Workstreams relating to potential by-product recovery of silver and/or zinc are ongoing and also progressing well. Engineering: Siting studies are complete, and the engineering team is advancing plant layout design, open-pit mine plans, and site infrastructure layouts. The process plant is currently expected to comprise a conventional flotation facility, with onsite temporary power generation currently expected for initial operations, with grid connection to follow later. Hydrogeology: Phase I drilling and monitoring well installation is complete. Phase II, which includes additional monitoring wells, piezometers, and a production well, has commenced and will provide the groundwater modeling data required for mine permitting. Exploration Update: Garnet Zone: Infill drilling at the Garnet Zone is complete. Several drill holes returned encouraging visual intersections of scheelite mineralization, consistent with the style of tungsten mineralization typically encountered at the Desert Scheelite Zone. Resource evaluation work is ongoing. Good Hope Zone: Initial holes GH26-01 and GH26-02 at the Good Hope target have been completed, returning encouraging visual scheelite mineralized intersections. Analytical results are pending. Gunmetal Zone: Several drill sites are now permitted, and drill pad preparation is nearing completion. Drilling is expected to begin before the end of June 2026, marking Guardian Metal's first-ever drilling at this target zone, an area being evaluated for additional tungsten resources. Desert Scheelite Zone (East): The eastern strike extension of Desert Scheelite is under investigation through ongoing exploration and condemnation drilling. In particular, PMR26-077 was collared approximately 300 m east of the expected eastern open-pit limit and intersected visual scheelite mineralization. Additional drill holes are planned in the short term to further evaluate this target area. The main Desert Scheelite deposit remains open to the east, west, and down dip, with further exploration drilling targeting these areas expected throughout second and third quarter of 2026. Comprehensive Exploration Update: The Company intends to publish a comprehensive exploration update following PFS completion, incorporating results from all active target areas, which is expected to demonstrate the continued potential for resource growth across the broader Pilot Mountain land package. 
