Guardian Metal Resources PLC Announces Discovery of Tremor Zone at Pilot Mountain

Rhea-AI Summary

Guardian Metal Resources (NYSE.A:GMTL) reported discovery of the new Tremor Zone tungsten-skarn body at its 100%-owned Pilot Mountain project in Nevada. Initial hole PMR26-077 cut five mineralised intervals, including 13.68m at 0.31% WO3 from 102.11m. Follow-up drilling has outlined about 400m strike, with the zone open in multiple directions and located in a royalty-free area. The PFS, backed by a U.S. Department of War $6.2m Defense Production Act Title III investment, is nearing completion, though Tremor Zone will not be included pending further drilling and evaluation.

Positive

• New Tremor Zone tungsten-skarn discovery within 100%-owned Pilot Mountain project
• Key intercept: 13.68m grading 0.31% WO3 from 102.11m depth
• Four additional mineralised intervals in PMR26-077, including 3.04m at 0.24% WO3
• Subsequent holes intersect skarn over widths up to approximately 66m
• Tremor Zone traced over roughly 400m strike and remains open
• Pilot Mountain PFS supported by $6.2m Defense Production Act Title III funding

Negative

• Tremor Zone excluded from upcoming PFS despite initial drilling results
• No resource estimate yet; more drilling required to assess significance
• Current drilling is early stage, with ongoing infill and step-out work

News Market Reaction – GMTL

-5.85%

10 alerts

-5.85% Session close to close

-15.9% Trough in 30 hr 14 min

$653.26M Market Cap

1.0x Rel. Volume

In the Jun 4 session, GMTL declined 5.85%, reflecting a notable negative market reaction. Argus tracked a trough of -15.9% from its starting point during tracking. Our momentum scanner triggered 10 alerts that day, indicating notable trading interest and price volatility.

Data tracked by StockTitan Argus on the day of publication.

Market Context

The stock moved -5.8% in the session following this news. A negative reaction despite the Tremor Zon...

Analysis

The stock moved -5.8% in the session following this news. A negative reaction despite the Tremor Zone discovery would contrast with earlier positive responses to Pilot Mountain and Tempiute updates that saw gains around 9–10%. The news highlights encouraging intervals such as 13.68m @ 0.31% WO3 and strike continuity over roughly 400m, but the zone is early-stage and excluded from the imminent PFS. A pullback could reflect market focus on execution risk, future capital needs, or the time required to convert exploration success into economic studies.

Key Figures

Defense Production Act funding: $6.2m Highlight intercept: 13.68m @ 0.31% WO3 WO3 interval: 3.04m @ 0.24% WO3 +5 more

8 metrics

Defense Production Act funding $6.2m U.S. Department of War Title III investment supporting Pilot Mountain PFS

Highlight intercept 13.68m @ 0.31% WO3 PMR26-077 from 102.11m to 115.82m downhole in Tremor Zone

WO3 interval 3.04m @ 0.24% WO3 PMR26-077 from 83.82m to 86.87m downhole

WO3 interval 4.56m @ 0.16% WO3 PMR26-077 from 118.87m to 123.44m downhole

Silver grade 139.27 ppm Ag Over 4.56m in PMR26-077 within tungsten-bearing skarn

Tremor Zone strike length approximately 400 metres Delineated strike length to date, remains open in multiple directions

Maximum visual width 66m tungsten-bearing skarn Visually identified in drillhole PM26-088

U.S. IPO gross proceeds $68.3M Recent IPO disclosed in 424B3 and F-1 filings

Historical Context

5 past events · Latest: Jun 02 (Neutral)

Pattern 5 events

Date	Event	Sentiment	24h Move	Catalyst
Jun 02	Option exercise	Neutral	+2.6%	Exercise of 500,000 options raising £70,000 and modestly expanding share capital.
May 21	Board change	Neutral	-2.8%	Appointment of Dr. Mark Thorpe replacing a departing non-executive director.
May 13	Tempiute update	Positive	+9.8%	Tempiute tailings mapping, 193 new claims and large footprint expansion in Nevada.
May 06	PFS progress	Positive	+9.0%	Pilot Mountain PFS progress backed by a $6.2m Defense Production Act investment.
Apr 30	Voting rights update	Neutral	-0.9%	Routine confirmation of 194,307,981 ordinary shares and total voting rights.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Pattern Detected

Operational project updates at Pilot Mountain and Tempiute have frequently coincided with strong positive moves, while routine governance or capital-structure notices have seen mixed or slightly negative reactions.

Recent Company History

Over the last few months, Guardian Metal has focused on advancing its Nevada tungsten assets and capital structure. A Pilot Mountain PFS progress update supported by a $6.2m award and a Tempiute tailings expansion update each coincided with near double-digit gains. In contrast, governance items like board changes and voting-rights updates saw modest declines. The latest Tremor Zone discovery at Pilot Mountain continues the theme of operational progress at the project level, building on earlier PFS and drilling milestones highlighted in the May 2026 disclosures.

Key Terms

pre-feasibility study, reverse circulation, skarn, Defense Production Act Title III, +2 more

6 terms

pre-feasibility study technical

"as part of the ongoing Pre-Feasibility Study ("PFS")."

A pre-feasibility study is an initial assessment that evaluates whether a proposed project or investment idea is worth exploring further. It involves examining basic factors like costs, potential benefits, and possible challenges, similar to conducting a preliminary check before deciding to invest more time and resources. This helps investors determine if pursuing the project further is practical and likely to be successful.

reverse circulation technical

"the initial drill hole, utilising a reverse circulation ("RC") drill rig, intersected"

Reverse circulation is a drilling method used in mineral exploration where rock fragments are lifted to the surface inside an inner tube while drilling, keeping samples cleaner and faster than conventional techniques. Investors care because it provides quicker, more reliable samples for estimating how much mineral or ore might be present, reduces exploration costs and drilling time, and therefore can speed up or improve the quality of resource assessments that drive project value.

skarn technical

"intersected multiple intervals of tungsten-rich skarn mineralisation."

A skarn is a type of rock that forms when hot magma interacts with surrounding rocks, causing chemical changes and the creation of mineral-rich deposits. For investors, skarns can indicate areas where valuable metals or minerals might be concentrated, making them important in the search for natural resources and potential mining opportunities. Recognizing skarns helps in assessing the potential value of land or mineral rights.

Defense Production Act Title III regulatory

"supported by a U.S. Department of War $6.2m Defense Production Act Title III investment"

A portion of U.S. law that lets the government financially support and speed up domestic production of critical materials, equipment, and supply chains by providing loans, purchases, contracts or incentives to private companies. Think of the government stepping in as a big customer or lender to help a factory scale up quickly; for investors, this can create sudden revenue opportunities, reduce supply risks for key industries, and change a company’s growth and valuation prospects.

alluvial cover technical

"classified as a blind discovery as it is obscured by alluvial cover"

A layer of loose sediments—sand, silt, clay and gravel—deposited by rivers and streams that lies on top of bedrock or buried mineral deposits. For investors, alluvial cover matters because it can hide valuable resources, change how companies explore or drill, increase extraction costs and affect the reliability of resource estimates; think of it as a natural blanket that determines how easy or expensive it is to reach what’s underneath.

inside information regulatory

"This announcement contains inside information for the purposes of Article 7"

Information not available to the public that, if known, would likely cause a company’s stock or bonds to rise or fall—for example, undisclosed earnings, deals, product results, or management plans. It matters because trading on that information gives an unfair advantage, can distort market prices, and is typically illegal or subject to strict rules, so investors watch for proper disclosure and compliance to protect fair, transparent markets.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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LONDON, UK / ACCESS Newswire / June 4, 2026 / Guardian Metal Resources plc (NYSE.A:GMTL)(LON:GMET)(OTCQB:GMTLF), a strategic exploration company focused on tungsten in Nevada, USA, is pleased to announce the discovery of the "Tremor Zone", a newly identified mineralised zone, within the Company's 100%-owned Pilot Mountain Tungsten Project ("Pilot Mountain" or the "Project"), located in Nevada, USA. Following analysis of geological and geophysical datasets, the Company's in-house technical team identified the Tremor Zone area as one of the Project's priority exploration targets. The area was also being evaluated as a potential location for key mine infrastructure as part of the ongoing Pre-Feasibility Study ("PFS"). Condemnation drilling was therefore required across this blind target area, and the initial drill hole, utilising a reverse circulation ("RC") drill rig, intersected multiple intervals of tungsten-rich skarn mineralisation. The PFS, which is nearing completion, is being supported by a U.S. Department of War $6.2m Defense Production Act Title III investment¹ in Guardian Metal's wholly-owned subsidiary, Golden Metal Resources (USA) LLC.

As a critical defense metal, tungsten has been designated as a strategic priority by the U.S. government. Guardian Metal is focused on advancing its co-flagship projects, Tempiute and Pilot Mountain, to become key pillars of U.S. tungsten supply and help drive the reshoring of domestic mined 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.

Highlights:

• The Tremor Zone is a newly discovered tungsten-skarn zone, identified by the Company's in-house technical team during condemnation drilling conducted at one of the Project's priority exploration targets in connection with the ongoing PFS.

• The initial Tremor Zone discovery drillhole, PMR26-077, intersected five distinct zones of tungsten-rich skarn mineralisation which include a highlight intercept of 13.68m of 0.31% WO₃ from only 102.11m - 115.82m downhole (see Table 1) as well as 3.04m of 0.24% WO₃ (from 83.83m), 4.56m of 0.16% WO₃ (from 118.87m), 1.52m of 0.24% WO₃ (from 143.26m), and 4.56m of 0.24% WO₃ (from 152.4m). The Tremor Zone is classified as a blind discovery as it is obscured by alluvial cover and therefore does not directly outcrop at surface.

• Following the completion of RC drillhole PMR26-077, an additional drill rig was mobilised to the area to follow up and to test for any potential extensions. Subsequent drill holes PMR26-078, PMR26-079, PM26-088, PM26-096, and PM26-097 also intersected visually identified tungsten-bearing skarn over approximate widths of 12m, 28m, 66m, 14m and 38m respectively.*

• To date, the Tremor Zone has been delineated over approximately 400 metres of strike length, with drilling ongoing utilising two diamond drill core rigs targeting both infill and step-out drilling as the Tremor Zone remains open in multiple directions.

• While the Tremor Zone is at an early stage of drilling and will not be incorporated into the upcoming PFS, the Company has retained flexibility within its infrastructure planning to allow for its potential inclusion in future studies, subject to further drilling and technical evaluation.

• The Tremor Zone is located within a part of the Pilot Mountain Project that is entirely royalty free.

• The Tremor Zone results further support the Company's view that Pilot Mountain may contain further exploration potential, with multiple at-surface skarn zones, including Garnet, Good Hope and Gunmetal, yet to be fully tested, in addition to unnamed blind skarn targets generated by the Company's in-house exploration team.

*No resource estimate has been prepared for the Tremor Zone and further drilling and evaluation will be required to determine its significance to the broader Pilot Mountain Project.

Oliver Friesen, CEO of Guardian Metal, commented:

"The blind discovery of the Tremor Zone is a very exciting result for Guardian, coming at a time when we are advancing Pilot Mountain at pace across multiple engineering and exploration workstreams simultaneously. The fact that the Tremor Zone was identified during routine condemnation drilling across just one of the Project's multiple priority exploration target areas, highlights the untapped exploration potential that we believe exists at Pilot Mountain.

"We have always maintained that this Project remains largely underexplored, and the Tremor Zone is a compelling demonstration of that view. We look forward to announcing additional assay results as we continue to drill and define this new zone, while also advancing testing across the Project's other priority exploration targets, all in parallel with our ongoing PFS workstreams."

Further Details

Drillhole ID	From (m)	To (m)	Length (m)	WO3(%)	Zn(%)	Ag(ppm)
PMR26-077	83.82	86.87	3.04	0.24
and	102.11	115.82	13.68	0.31
and	118.87	123.44	4.56	0.16	0.22	139.27
and	143.26	144.78	1.52	0.24	0.40
and	152.4	156.97	4.56	0.24	0.40	20.37

Table 1: RC Drill Hole PMR26-077 Downhole Results

References

1. Company announcement, U.S. Department of Defense Awards $6.2M to Golden Metal Resources for the Pilot Mountain Project, dated 23 July 2025
   ( https://polaris.brighterir.com/public/guardian_metal_resources/news/rns/story/wvm0n3w )

COMPETENT PERSON STATEMENT

The technical information contained in this disclosure has been read and approved by Mr Nick O'Reilly (MSc, DIC, MIMMM QMR, MAusIMM, FGS), who is a qualified geologist and acts as the Competent Person under the AIM Rules - Note for Mining and Oil & Gas Companies. Mr O'Reilly is a Principal consultant working for Mining Analyst Consulting Ltd which has been retained by Guardian Metal Resources plc to provide technical support.

This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014 (which forms part of domestic UK law pursuant to the European Union (Withdrawal) Act 2018). The Directors of the Company are responsible for this announcement.

Forward Looking Statements

This announcement contains forward-looking statements relating to expected or anticipated future events and anticipated results that are forward-looking in nature, and, as a result, are subject to certain risks and uncertainties, including general economic, market and business conditions, competition for qualified staff, the regulatory process and actions, technical issues, new legislation, potential delays or changes in plans, uncertainties resulting from operating in a new political jurisdiction, uncertainties regarding the results of exploration, the timing and granting of prospecting rights, the timing and granting of regulatory and other third party consents and approvals, Guardian Metal's or any third party's ability to execute and implement future plans, and the occurrence of unexpected events.

Forward-looking statements are subject to risks and uncertainties, including those described in the Company's filings with the U.S. Securities and Exchange Commission. Guardian Metal undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by law.

This announcement does not purport to be full or complete. No reliance may or should be placed by any person for any purpose on the information contained in this announcement or its accuracy, fairness or completeness. The information in this announcement is subject to change.

For further information visit www.Guardianmetalresources.com or contact the following:

Guardian Metal Resources plc Oliver Friesen (CEO)	Tel: +44 (0) 20 7583 8304
Cairn Financial Advisers LLP Nominated Adviser Sandy Jamieson/Jo Turner/Louise O'Driscoll	Tel: +44 (0) 20 7213 0880
Berenberg Joint Broker and Financial Adviser Jennifer Lee/Ivan Briechle	Tel: +44 (0) 20 3207 7800
Tamesis Partners LLP Joint Broker Charlie Bendon/Richard Greenfield	Tel: +44 (0) 20 3882 2868
Tavistock Financial PR in the UK Emily Moss/Josephine Clerkin	Tel: +44 (0) 7920 3150 / +44 (0) 7788 554035 guardianmetal@tavistock.co.uk
Edelman Smithfield Financial PR in the US	guardianmetal@edelmansmithfield.com

About Guardian Metal Resources

Guardian Metal Resources PLC (NYSE.A:GMTL)(LON:GMET)(OTCQB:GMTLF) is a strategic mineral exploration company driving the revival of U.S. mined tungsten production and strengthening America's defense metal independence. The Company is advancing two co-flagship tungsten projects, Pilot Mountain, one of the largest undeveloped tungsten deposits in the U.S. and Tempiute, formerly America's largest producing tungsten operation, both located in Nevada, one of the top-rated mining jurisdictions in the United States.

In July 2025, the U.S. Department of War (DoW) under Title III of the Defense Production Act of 1950, as amended, invested US$6.2M in Golden Metal Resources (USA) LLC, a wholly-owned subsidiary of Guardian Metal Resources PLC, to support the Pilot Mountain PFS. The Company completed a U.S. listing on the NYSE American on March 20, 2026.

Tungsten is a strategic metal critical to the defense, energy transition, technology, and industrial sectors. In the context of shifting geopolitical dynamics and tightening Chinese export restrictions, Guardian Metal is well positioned to play a leading role in re-establishing a secure, domestically mined U.S. supply chain for this vital defense metal.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

SOURCE: Guardian Metal Resources PLC

View the original press release on ACCESS Newswire

FAQ

What did Guardian Metal Resources (GMTL) announce about the Tremor Zone discovery at Pilot Mountain on June 4, 2026?

Guardian Metal Resources announced discovery of the Tremor Zone, a new tungsten-skarn zone at Pilot Mountain. According to the company, initial drilling intersected five mineralised intervals in hole PMR26-077, including 13.68m grading 0.31% WO3 from 102.11m downhole, plus several shorter high-grade sections.

What are the key drill results from Guardian Metal Resources’ Tremor Zone hole PMR26-077 (GMTL)?

Hole PMR26-077 at the Tremor Zone intersected multiple tungsten-rich intervals. According to Guardian Metal, highlights include 13.68m at 0.31% WO3 from 102.11m, plus 3.04m at 0.24% WO3, 4.56m at 0.16% WO3, and shorter zones with associated zinc and silver values.

How large is the newly discovered Tremor Zone at Guardian Metal’s Pilot Mountain project (GMTL)?

The Tremor Zone has been delineated over about 400 metres of strike so far. According to Guardian Metal, drilling with two diamond rigs is targeting infill and step-out holes, and the zone remains open in multiple directions, indicating further potential expansion with ongoing work.

Will the Tremor Zone discovery be included in Guardian Metal Resources’ upcoming Pilot Mountain PFS (GMTL)?

The Tremor Zone will not be included in the upcoming Pilot Mountain Pre-Feasibility Study. According to Guardian Metal, the zone is at an early drilling stage, and further drilling and technical evaluation are required before possible inclusion in future technical and economic studies.

What funding supports Guardian Metal Resources’ Pilot Mountain PFS and Tremor Zone work (GMTL)?

Pilot Mountain’s PFS is supported by a $6.2m Defense Production Act Title III investment from the U.S. Department of War. According to Guardian Metal, this funding backs work at its U.S. subsidiary and underpins engineering and exploration programs running alongside Tremor Zone drilling activities.

Why is the Tremor Zone discovery at Pilot Mountain important for Guardian Metal Resources’ U.S. tungsten strategy (GMTL)?

The Tremor Zone adds a blind tungsten-skarn discovery within a strategic U.S. project. According to Guardian Metal, Pilot Mountain and Tempiute are intended as pillars of U.S. tungsten supply, supporting reshoring of critical metal production and aligning with U.S. strategic and defense priorities.

Is the Tremor Zone at Guardian Metal’s Pilot Mountain project subject to royalties (GMTL)?

The Tremor Zone lies in a royalty-free part of the Pilot Mountain project. According to Guardian Metal, this ownership structure could benefit future project economics if the zone is later incorporated into resource estimates and mine plans, subject to successful drilling and technical assessments.