Exercise of Warrants and Warrant Exercise Period

12 May 2025

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

Exercise of 17p Warrants

Warrant Exercise Period

Guardian Metal Resources plc (LON:GMET, OTCQB:GMTLF), a strategic mineral exploration and development company focused on Nevada, US, announces that the Company has received notices to exercise warrants over a total of 4,627,142 new ordinary shares of 1p each in the Company ("Warrant Shares") at an exercise price of 17p per Warrant Share, raising £786,614.14 for the Company.

Admission and Total Voting Rights

Application will be made for the 4,627,142 Warrant Shares to be admitted to trading on AIM which is expected to occur on or around 16 May 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 138,965,494 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.

Warrant Exercise Period

The exercise period of the 17p Warrants ended at midnight on 10 May 2025, unless the holder is deemed to be in possession of inside information (as defined by the UK Market Abuse Regulation).