Exercise of Warrants

12 September 2025

Guardian Metal Resources plc ("Guardian Metal" or the "Company")

Exercise of 37.5p Warrants

Guardian Metal Resources plc (LON:GMET/OTCQB:GMTLF), a tungsten exploration and development company, announces that the Company has received a notice to exercise warrants over 40,000 new ordinary shares of 1 pence each in the Company ("Warrant Shares") at an exercise price of 37.5p per Warrant Share, raising £15,000 for the Company.

ADMISSION AND TOTAL VOTING RIGHTS

Application will be made for the 40,000 Warrant Shares to be admitted to trading on AIM which is expected to occur on or around 18 September 2025 ("Admission"). The Warrant 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 167,518,967 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.