Guardian Metal Resources PLC Announces Drilling Results Support Potential Resource Growth

Drilling at Tremor and Good Hope confirms new tungsten mineralization near Pilot Mountain’s existing resources, with potential future resource additions pending further work.

Rhea-AI Summary

Guardian Metal Resources (GMTL) reported tungsten drilling results from the Tremor and Good Hope zones at its 100%-owned Pilot Mountain project in Nevada, indicating potential to expand mineralization beyond the current Pre-Feasibility Study mineral resources.

At the Tremor Zone (north), mineralization has been confirmed over about 200m strike and 190m dip, remaining open in multiple directions. Notable intercepts include PM26-088 with 64.15m @ 0.20% WO3 from 139.97m, including 14.27m @ 0.34% WO3, and PM26-097 with several zones up to 44.08m @ 0.18% WO3. At the near-surface Good Hope Zone, within 1.1–1.3km of existing resource areas, drilling returned GH26-01 with 12.95m @ 0.79% WO3 from 12.19m and GH26-02 with 13.11m @ 0.42% WO3 from 2.13m, together representing 23m apparent thickness averaging 0.58% WO3.

Relocation of the planned tailings storage facility is required but is not expected to materially affect project costs or timelines. No mineral resource estimates have yet been prepared for Tremor or Good Hope.

Positive

• Tremor Zone mineralization confirmed over ~200m strike and ~190m dip, remaining open in multiple directions
• PM26-088 (Tremor): 64.15m @ 0.20% WO3 from 139.97m, including 14.27m @ 0.34% WO3
• PM26-097 (Tremor): multiple zones including 44.08m @ 0.18% WO3 and 10.84m @ 0.27% WO3
• Good Hope near-surface grades: GH26-01 12.95m @ 0.79% WO3 from 12.19m; GH26-02 13.11m @ 0.42% WO3 from 2.13m
• Good Hope combined thickness for GH26-01 and GH26-02 of 23m averaging 0.58% WO3 near surface
• Tremor Zone location lies in a royalty-free part of Pilot Mountain, potentially improving future project economics

Negative

• No mineral resource estimate yet for Tremor or Good Hope; further drilling and evaluation required
• Non-mineralized drilling: 1,999m of Tremor and Good Hope step-out holes did not intercept material-grade mineralization
• Assays still pending for the southern Tremor Zone and some visually mineralized holes, delaying full evaluation
• TSF relocation and redesign required due to Tremor discovery, even though not expected to materially affect costs or timeline

News Explained

Pilot Mountain remains in exploration: most Tremor assays and any resource estimate are still outstanding after 8,140 metres of drilling.

The disclosure adds ongoing exploration data rather than a current resource change: 8,140 metres across 37 holes targeting Tremor and condemnation areas has been completed, while most Tremor assays remain pending.

The resource-growth characterization is therefore prospective, not an established increase in reported resources, because no mineral resource estimate has been prepared for either zone and further drilling and evaluation are required.

The unresolved evidence is mixed: 2,200 metres of condemnation drilling found no additional mineralization, while 1,999 metres of Tremor and Good Hope step-out drilling did not meet the stated materiality threshold.

The next specified resolution points are assays for PM26-096 and the remaining Tremor results, followed by further drilling and evaluation before any resource estimate.

Market Context

GMTL carried a low short-positioning signal before publication, while its prior close was $10.53; th...

Analysis

GMTL carried a low short-positioning signal before publication, while its prior close was $10.53; the release reported new intersections but stated that no Mineral Resource Estimate had been prepared.

Key Figures

Tremor Zone strike extent: 200m Tremor Zone intersection: 64.15m @ 0.20% WO3 Tremor Zone intersection: 44.08m @ 0.18% WO3 +4 more

Tremor Zone strike extent

200m

Northern Tremor Zone mineralization confirmed over strike distance

Tremor Zone intersection

64.15m @ 0.20% WO3

PM26-088, Tremor Zone north

Tremor Zone intersection

44.08m @ 0.18% WO3

PM26-097, Tremor Zone north

Good Hope composite

23m at an average grade of 0.58% WO3

Combined apparent thickness from GH26-01 and GH26-02

Good Hope intersection

12.95m @ 0.79% WO3

GH26-01, near-surface mineralization

Tremor drilling completed

8,140m across 37 holes

Combined core and reverse circulation drilling

Good Hope drill programme

1,682m across 13 holes

Inaugural Good Hope Zone drilling

Key Terms

tungsten-skarn, pre-feasibility study, reverse circulation, tailings storage facility, +1 more

5 terms

tungsten-skarn technical

"The Tremor Zone, a blind tungsten-skarn discovery"

A tungsten‑skarn is a type of mineral deposit formed when hot, metal‑bearing fluids from an igneous intrusion react with nearby carbonate rocks, creating calc‑silicate (skarn) minerals that concentrate tungsten-bearing ores such as scheelite or wolframite. For investors, the term signals a specific geological setting that can host economically recoverable tungsten, affecting how companies estimate resource size, grade, mining methods and potential project value — similar to spotting a concentrated vein of metal in the rock.

pre-feasibility study technical

"the recently completed Pre-Feasibility Study"

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

"combined core and reverse circulation ("RC") drilling"

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.

tailings storage facility technical

"tailings storage facility ("TSF") proposed"

A tailings storage facility is a managed site—often a lined pond or engineered dam—where mining companies store the wet waste left after extracting minerals. Investors care because these sites carry long-term risks and costs (environmental damage, spills, regulatory fines, cleanup and closure liabilities) that can quickly reduce a mine’s value, halt production or trigger costly remediation, much like a leaking landfill can suddenly force unexpected expenses and legal trouble.

downhole technical

"Significant downhole drill hole intersections included"

The area and equipment located below the ground inside a drilled well or borehole, including the pipe, tools, sensors and the rock or reservoir around them. Think of it as the engine room of a well where production, measurements and problems actually occur. Investors care because what happens downhole—flow rates, damage, repairs or new finds—directly determines a project's output, costs and revenue potential.

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

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Tungsten Drilling Results Support Potential Resource Growth at Pilot Mountain

LONDON, UK / ACCESS Newswire / September 14, 2026 / Guardian Metal Resources plc ('Guardian Metal' or the 'Company') (NYSE.A:GMTL)(LON:GMET)(OTCQB:GMTLF), a strategic exploration and development company focused on tungsten in Nevada, USA, is pleased to announce positive tungsten drilling results from the newly discovered Tremor Zone and the previously untested Good Hope Zone both located on its 100%-owned Pilot Mountain tungsten project ("Pilot Mountain" or the "Project") in Nevada. The drilling results provide further evidence of the potential to expand the mineralization identified at Pilot Mountain beyond the mineral resources incorporated into the recently completed Pre-Feasibility Study ("PFS").

The Tremor Zone, a blind tungsten-skarn discovery announced on 4 June 2026, was identified by the Company's in-house technical team while drilling a target adjacent to the tailings storage facility ("TSF") proposed in the recently completed PFS. The drilling results achieved to date have prompted a relocation of the planned TSF, which requires a revised design but is not expected to materially affect project costs or timeline.¹ Following the receipt of results from the discovery hole PMR26-077, follow-up drilling has been undertaken to test the Tremor Zone's extent along strike and at depth. In parallel, the Company has completed its first-ever drill holes at the Good Hope Zone, one of the Project's at-surface skarn targets that had, until now, remained untested by the Company.

Highlights

• Extensive tungsten mineralization confirmed over 200m strike distance at the Tremor Zone (north), with mineralization remaining open in multiple directions, providing future potential to supplement the Pilot Mountain mineral resources. Drill results for the Tremor Zone (south) are pending.
• Tremor Zone (north) significant downhole drill hole intersections included:
  • PM26-088: 64.15m @ 0.20% WO₃ from 139.97m, including:
    - 14.27m @ 0.34% WO₃ from 147.68m;
  • PMR26-078: 15.20m @ 0.28%WO₃ from 259.08m;
  • PM26-090: 5.11m @ 0.34% WO₃ from 101.19m.
  • PM26-097 intersected several zones of tungsten mineralization, including
    - 16.60m @ 0.19% WO₃ from 53.23m downhole including 10.77m @ 0.23% WO₃ from 59.06m;
    - 44.08m @ 0.18% WO₃ from 86.03m downhole including 6.17m @ 0.22% WO₃ from 86.03m, and also including 10.84m @ 0.27% WO₃ from 111.42m; and,
    - 6.68m @ 0.23% WO₃ from 144.72m.
• Good Hope Zone drilling returned multiple tungsten drill intersections from near surface, located within 1.1 to 1.3km of the existing Pilot Mountain mineral resource areas. Good Hope downhole drill hole intersections included:
  • GH26-01: 12.95m @ 0.79% WO₃ from 12.19m;
  • GH26-02: 13.11m @ 0.42% WO₃ from 2.13m. GH26-01 and GH26-02 were twinned holes, with the latter being drilled to recover the upper part of the zone and together they represent a combined apparent thickness of 23 meters which carries an average grade of 0.58% WO₃; and,
  • GH26-07: 13.32m @ 0.15% WO₃ from 65.84m.

Notes: No Mineral Resource Estimate has been prepared for the Tremor Zone or the Good Hope Zone and further drilling and evaluation will be required to determine their significance to the broader Pilot Mountain Project. Significant mineralized intersections of 5m apparent width at or above the PFS Desert Scheelite and Garnet deposit Mineral Resource Estimate cut-off grade of 0.04% WO₃ are summarized in Table 1 and Table 2. Drill collar locations are stated in Table 3 and shown in Figure 1.

Oliver Friesen, CEO of Guardian Metal, commented:

"We have always maintained that Pilot Mountain has significant exploration upside, and these results reinforce the potential to expand tungsten mineralization beyond the mineral resources that underpin our recently completed Pre-Feasibility Study. The Tremor Zone did not form part of the PFS mineral resource, yet drilling continues to highlight meaningful size and scale, with mineralization remaining open in multiple directions. This has been sufficient for us to relocate the proposed TSF and preserve the option to incorporate the Tremor Zone into a future mine plan. At the Good Hope Zone, the first holes ever drilled have returned strong tungsten grades from surface, close to the existing resource areas.

"With numerous exploration targets still to be drill tested, we see potential to add further tungsten resources, subject to further drilling and evaluation, while the DFS, engineering and permitting advance in parallel and at pace as we work to make Pilot Mountain the first new tungsten mine on U.S. soil in over a decade."

Further Details

Tremor Zone

The Tremor Zone is a blind tungsten-skarn discovery that is obscured by alluvial cover with no direct surface outcrop. Mineralization was identified during condemnation drilling completed within an area that was under consideration as a location for the TSF. The initial discovery drillhole, PMR26-077 (reported on 4 June 2026), intersected five distinct zones of tungsten-rich skarn mineralisation.¹

To date, 8,140 meters across 37 holes of combined core and reverse circulation ("RC") drilling targeting the Tremor Zone and other condemnation targets has been completed, with the majority of Tremor Zone assays still pending. Mineralization has been confirmed in two separate areas, the northern and southern Tremor Zones, with drilling to date focused on the northern zone. Within the northern zone, mineralization has been confirmed over ~200m of strike extent and ~190m of dip extent and mineralization remains open in multiple directions. Results are still pending for the southern zone which has been intersected in one hole located 180m south of the northern zone and remains open for extension in multiple directions.

The Tremor Zone is located within a part of the Pilot Mountain Project that is royalty free. While the Tremor Zone was not incorporated into the 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.

Good Hope Zone

The Good Hope Zone is one of the Project's at-surface tungsten skarn zones, which had been identified as offering resource growth potential. Mineralization is exposed in a window below younger Tertiary volcanics and is hosted in east-west striking, gently north-dipping beds of Luning Formation limestone adjacent to a large body of quartz monzonite intrusion, which is the causative intrusive phase across Pilot Mountain. The Good Hope Zone is located ~1.3km north of the Desert Scheelite resource area and ~1.1km east of the Garnet resource area. Mineralization at the Good Hope Zone has been defined over a strike length of ~100m starting from surface and down dip for ~65 meters. Mineralization is bound on the west by post-mineral faulting, which opens exploration and expansion potential seeking the offset portion of the zone.

The inaugural drill programme at the Good Hope Zone comprised 1,682m of combined core and RC drilling across 13 holes. Results confirm near surface high-grade mineralization and the potential to add new mineral resources in the future.

Assay Results and Collar Table

Table 1: Tremor Zone Significant Downhole Intersections

Drillhole ID	From (m)	To (m)	Length (m)	WO3 (%)	Zn (%)	Ag (ppm)	Cu (%)
PMR26-078	259.08	274.32	15.20	0.28	0.06	16.74	0.01
PMR26-079	251.46	259.08	7.60	0.13	0.47	86.32	0.02
PM26-088	139.97	204.12	64.15	0.20	0.32	3.76	0.08
incl.	147.68	161.95	14.27	0.34	0.59	5.09	0.08
PM26-090	101.19	106.30	5.11	0.34	0.74	153.31	0.76
and	129.24	139.00	9.75	0.12	0.38	25.45	0.01
and	144.54	162.00	17.46	0.07	0.18	0.81	0.01
incl.	147.41	155.05	7.64	0.10	0.24	0.63	0.01
PM26-097	53.23	69.83	16.60	0.19	2.09	16.90	0.12
incl.	59.06	69.83	10.77	0.23	3.12	23.76	0.15
and	86.03	130.31	44.08	0.18	0.40	57.23	0.03
incl.	86.03	92.20	6.17	0.22	0.51	203.87	0.01
and incl.	111.42	122.26	10.84	0.27	0.92	3.79	0.05
and	144.72	151.40	6.68	0.23	0.06	10.53	0.57
Note: Only material intercepts of at least 5m apparent width at the PFS resource cut-off grade of >0.04% WO3 are included. Weighted composite grades based on MSA Labs certified assay results from analytical method codes: ICP-230; WRX-4W; ICA-6Ag; ICF-6Zn and ICF-6Cu.

Table 2: Good Hope Zone Significant Downhole Intersections

Drillhole ID	From (m)	To (m)	Length (m)	WO3 (%)	Zn (%)	Ag (ppm)	Cu (%)
GH26-01	12.19	25.14	12.95	0.79	0.49	7.90	0.79
GH26-02*	2.13	15.24	13.11	0.42	0.34	23.17	0.12
GH26-06	64.29	76.05	11.76	0.08	0.49	10.51	0.51
GH26-07	65.84	79.16	13.32	0.15	1.59	4.11	0.14
GH26-08	53.16	61.04	7.88	0.18	1.24	3.52	0.05
Notes: *Re-drill of the upper portion of GH26-01 where no core was recovered. Only material intercepts of at least 5m apparent width at the PFS resource cut-off grade of >0.04% WO3 are included. Weighted composite grades based on MSA Labs certified assay results from analytical method codes: ICP-230; WRX-4W; ICA-6Ag; ICF-6Zn and ICF-6Cu.

Holes PMR26-081 through PMR26-087, 091, 093 and 094 totaling 2,200 meters were drilled as condemnation holes to target infrastructure areas and confirmed no additional mineralization was present. PMR26-080, PM26-089, 092, 095 and GH26-03 through 05 and RGH-01 through 03 were Tremor or Good Hope Zone exploration step-out holes totaling 1,999m drilled that did not intercept mineralization above a material grade and thickness cut-off of 5m at 0.04% WO₃. PM26-096 intercepted significant visual scheelite mineralization and assays are still pending

Table 3: Drill Hole Collar Table for Holes with Significant Downhole Intersections

Drillhole ID	Type	Zone	UTM Easting	UTM Northing	Elevation (m)	Azimuth	Dip	Hole Depth (m)
PMR26-078	RC	Tremor	425072	4248157	1853	270	-45	303
PMR26-079	RC	Tremor	425072	4248160	1853	250	-45	303
PM26-088	Core	Tremor	424816	4248146	1883	45	-60	246
PM26-090	Core	Tremor	424818	4248148	1883	135	-50	200
PM26-097	Core	Tremor	424949	4248124	1866	265	-50	263
GH26-01	Core	Good Hope	423941	4249670	1962	0	-90	97
GH26-02	Core	Good Hope	423940	4249670	1962	0	-90	15
GH26-06	Core	Good Hope	423941	4249745	1948	230	-45	116
GH26-07	Core	Good Hope	423867	4249696	1973	308	-80	121
GH26-08	Core	Good Hope	423871	4249695	1973	140	-50	124
Notes: UTM Zone 11 WGS84 datum. RC = Reverse Circulation Drill Hole. Core = Diamond Core Drill Hole

Quality Control and Assurance

All samples were submitted to MSA Labs (MSA) of Elko, Nevada which is an ISO9001 and ISO/IEC 17025 accredited laboratory. Samples were analyzed using method ICP-230, with any samples returning >450 ppm W being re-run using lithium borate fusion XRF analyses method. Guardian Metal's QA/QC program includes regular insertion of standards, duplicates and blanks into the sample stream with stringent review of all results.

Figure 1: Map of Drill Holes Showing Planned PFS Pits, Mine Infrastructure, Waste Rock Storage Facility and Revised Tailings Storage Facility Locations

Figure Notes: Garnet Pit and Desert Scheelite Pit outlines represent the extents of the planned open pits modelled in the recent Pre-Feasibility Study. WRSF = Waste Rock Storage Facility. TSF = Tailings Storage Facility.

References

1. Company announcement, Discovery of Tremor Zone at Pilot Mountain Tungsten Project, dated 4 June 2026
   (https://polaris.brighterir.com/public/guardian_metal_resources/news/rns/story/xlnlypw)
2. Company announcement, U.S. Department of Defense Awards US$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 Nicholas 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/Eliza Logan	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.² 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

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What drilling work has been completed so far at the Tremor Zone?

At the Tremor Zone and other condemnation targets, Guardian Metal has completed 8,140m of combined core and reverse circulation drilling across 37 holes. Mineralization is confirmed in northern and southern Tremor areas, with most assays still pending and the southern zone currently defined by one mineralized hole located 180m south of the northern zone.

How extensive is the newly defined Good Hope Zone mineralization and where is it located?

The Good Hope Zone mineralization has been defined over a strike length of about 100m from surface and down dip for about 65m. It lies roughly 1.3km north of the Desert Scheelite resource area and 1.1km east of the Garnet resource area, in at-surface tungsten skarn hosted in Luning Formation limestone adjacent to a quartz monzonite intrusion.

What were the outcomes of the condemnation drilling around infrastructure areas?

Condemnation holes PMR26-081 through PMR26-087, 091, 093 and 094, totaling 2,200m, were drilled to test infrastructure areas and confirmed no additional mineralization above the material cut-off was present in those locations.

Which drill holes at Tremor and Good Hope did not return material-grade mineralization?

Exploration step-out holes PMR26-080, PM26-089, 092, 095 and GH26-03 through 05 and RGH-01 through 03, totaling 1,999m, were drilled in the Tremor or Good Hope zones and did not intercept mineralization above the stated material threshold of 5m at 0.04% WO3.

How are assay quality and laboratory procedures managed for the Pilot Mountain drilling?

Samples were analyzed by MSA Labs in Elko, Nevada, an ISO9001 and ISO/IEC 17025 accredited laboratory, using method ICP-230, with samples returning >450 ppm W re-run using lithium borate fusion XRF. The company’s QA/QC program includes regular insertion of standards, duplicates and blanks into the sample stream and a stringent review of all results.

What change is being made to the tailings storage facility (TSF) plan due to the Tremor discovery?

The discovery of the Tremor Zone during condemnation drilling led to a relocation of the planned TSF, requiring a revised design. The company states this is not expected to materially affect project costs or the overall project timeline.