15 August 2024
Guardian Metal Resources
plc
('Guardian Metal' or the
'Company')
Strategic North American
Financing
£2,154,074.58
(US
$2.75M) raised for Accelerated Project Exploration
& Development
Guardian Metal Resources plc
(LON:GMET, OTCQB:GMTLF), a mineral exploration company focused on
tungsten, lithium, gold, copper and silver within Nevada, USA, is
pleased to announce it has completed a strategic financing raising
£2,154,074.58 (US $2.75M) (the "Financing") through a direct
subscription with the Company.
The Financing enables an immediate
and material expansion of ground exploration and project
development activities, leveraging the success of the Company's
work to date in 2024.
Subscription Highlights:
- Guardian
Metal has completed a strategic financing of £2,154,074.58 (US
$2.75M) through the issue of 7,978,054 new ordinary shares of 1.0p
each ("Subscription Shares"), representing 6.7% of the enlarged
issued share capital of the Company at an issue price of 27p per
share.
- The
subscribers will receive one warrant with every two Subscription
Shares subscribed for (3,989,027 new warrants). The warrants have
an exercise price of 40p per ordinary share and will expire
two-years after the date of the Subscription Shares' admission to
trading on AIM.
- The
Financing has the potential to significantly increase North
American investor interest in the Company. This interest can
be channelled through the Company's quotation on the OTCQX market,
where CEO Oliver Friesen recently rang the bell on market
open.
- The
£2,154,074.58 (US $2.75M) raised will be applied to the
acceleration of exploration and project development activities at
the Company's Pilot Mountain and Garfield projects. In particular
on drilling of new and validated porphyry targets across both
projects, and the continuing resource expansion drilling at Pilot
Mountain.
- The expanded
work programmes are justified given the significant findings to
date and enable the Company to execute accelerated exploration
without delay. The Company believes that these work
programmes have the potential to markedly increase the value of its
leading projects.
- Initial
results from ongoing drilling is expected in short order and final
interpretations of geophysical data is nearing completion. As a
result, a number of key announcements are expected in the near
term.
- In addition,
the Company is proactively working on various corporate initiatives
including non-dilutive grant funding and separate announcements
will be made in each key area as material developments are
finalised.
Oliver Friesen, CEO of Guardian Metal,
commented:
"It has been a very productive summer, and the outcomes
from various work streams thus far have been significant including
the discovery and validation of multiple porphyry targets at both
our Pilot Mountain and Garfield projects, as well as success to
date from drilling which is targeting an expansion of the existing
Pilot Mountain strategic tungsten resource.
"This exploration success has drawn interest from North
American resource investors and, following my recent North American
business trip, we have been able to finalise this important
strategic financing. The Financing has been undertaken at the
perfect time as we are keen to expand our operational activities
given our findings to date.
"Monies raised will directly support multiple drillholes in
the various porphyry targets at Pilot Mountain, of which further
news is expected shortly, and further resource drilling as well as
various ongoing development workstreams associated with Pilot
Mountain. Drilling at the Garfield project is also planned, subject
to urgent completion of preparatory work, including the acquisition
of relevant permits and final interpretations of all geophysical
data.
"As a result of the rapid inflow of exploration data expected
across the two key projects, we look forward to the release of
multiple exploration and development announcements over the coming
weeks and months."
ADMISSION AND TOTAL VOTING RIGHTS
Application will be made for the
7,978,054 Subscription Shares to be
admitted to trading on AIM, which is expected to occur on or around
21 August 2024
("Admission"). The Subscription Shares will
rank pari passu in all respects with the ordinary shares of the
Company currently traded on AIM.
Following Admission, the Company's
issued share capital will comprise 119,036,319 ordinary shares of 1p each. This
number will represent the total voting rights in the Company and
may be used by shareholders as the denominator for the calculation
by which they can determine if they are required to notify their
interest in, or a change to their interest in, the Company under
the Financial Conduct Authority's Disclosure and Transparency
Rules.
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).
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, such as general economic, market and business
conditions, competition for qualified staff, the regulatory process
and actions, technical issues, new legislation, uncertainties
resulting from potential delays or changes in plans, uncertainties
resulting from working in a new political jurisdiction,
uncertainties regarding the results of exploration, uncertainties
regarding the timing and granting of prospecting rights,
uncertainties regarding the timing and granting of regulatory and
other third party consents and approvals, uncertainties regarding
the Company's or any third party's ability to execute and implement
future plans, and the occurrence of unexpected
events.
Actual results achieved may vary
from the information provided herein as a result of numerous known
and unknown risks and uncertainties and other factors.
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 20 7213 0880
|
Shard Capital Partners LLP
Lead Broker
Damon Heath/Erik Woolgar
|
Tel: +44 (0) 20 7186 9000
|
First Equity Limited
Broker
Jason Robertson
|
Tel: +44 20 7374 2212
|
|
|
THE
PROJECTS
Pilot Mountain Project
The Pilot Mountain project is
an advanced exploration and mineral resource definition stage
project located in Mineral County in western Nevada.
The project covers an area of 14.80 km2 (3,904.1 acres)
and is located 200km southeast of Reno and 18km east
of Mina, Nevada. It is well situated for the supply of power,
water and skilled labour and proximity to transport infrastructure
in Mineral County and is centred around four existing
mineral deposits: Garnet; Good Hope; Gunmetal and Desert Scheelite,
all of which possess significant skarn-style
tungsten-copper-silver-zinc mineralisation. The Pilot
Mountain project consists of 176 active lode mining claims and
4 filed mill site claims. The four mill site claims filed at the
former Dunham mill site have secure access to groundwater supply
sufficient for the proposed project.
Garfield Project
The Garfield Project is an exciting
copper-gold-silver prospect consisting of 65 lode mining claims
covering 9.18 km2 (2,268 acres) located in Mineral County,
Nevada, approximately 14km due east of the town
of Hawthorne and 120km due west-northwest
of Tonopah. Exploration to date has included detailed
geochemical sampling and follow up analysis which highlighted the
presence of both porphyry and skarn-type mineralisation and
alteration at the 'High-Grade Zone'. Further to this, mapping,
prospecting and rock sampling was recently completed with results
confirming presence of high-grade copper, silver and gold
mineralisation as well as leading to the bedrock discovery of the
Pamlico Au Zone with individual rock samples up to 18.35g/t Au,
1,225g/t Ag & 1.89% Cu. Following this, geochemical analysis of
the full suite of data confirmed the strong presence of porphyry
style mineralisation across the Project, as well as potentially
overprinting epithermal style mineralisation leading to increased
gold-silver prospectivity.
Kibby Basin Lithium
Project
The Kibby Basin Project covers
two claim packages which are prospective for lithium brine
mineralisation. The southern claim package is less than 250m from a
2022 drillhole which returned a significant interval (169m) of
lithium brine mineralisation which was determined to be open in all
directions. The Project is less than 5km to the southeast of the
Company's flagship Pilot Mountain Project.
Golconda Summit Project
Guardian Metal is the operator of
the Golconda Summit project, which is held under an earn-in right
to acquire up to 100 per cent. of the project from the mineral
claim owner pursuant to an option agreement. The Golconda Summit
project is an exploration stage gold and silver project located
in Humboldt County and situated at the confluence of the
Getchell and Battle
Mountain - Eureka metallogenic trends, and consists
of 44 lode mining claims, covering a total area of approximately
3.22 km2 (795.4 acres) located approximately 27km east
of Winnemucca.
Stonewall Project
The Stonewall project is an
exploration stage gold-silver property prospective for epithermal
gold-silver mineralisation. The property consists of 19 lode mining
claims covering 1.59 km2 (392.5 acres) located on the
northern flank of Stonewall Mountain, on the western edge of
the Nellis Airforce Range Restricted Access Area, in Nye
County, Nevada, approximately 24km south-east of the historic gold
mining town of Goldfield and 60km due south
of Tonopah.