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Pilot Mountain Pre-Feasibility Progress Update
Guardian Metal Resources plc has reported significant progress on the Pre-Feasibility Study for its Pilot Mountain tungsten project, supported by a $6.2 million U.S. Department of War investment. Key workstreams, including resource evaluation, mine planning for an open-pit operation, and metallurgy for a scheelite concentrate, are advancing as scheduled, with the mine Plan of Operations targeted for submission in August 2026. Exploration efforts are also yielding encouraging visual results, with drilling completed or underway at the Garnet, Good Hope, and Desert Scheelite (East) zones, and preparation for drilling at the Gunmetal Zone. Disclaimer*
About this update from Guardian Metal Resources Plc
6 May 2026 Guardian Metal Resources plc ('Guardian Metal' or the 'Company') Pilot Mountain Positive Pre-Feasibility Progress Update Guardian Metal Resources plc (NYSE.A: GMTL, LON:GMET, OTCQB:GMTLF), a strategic exploration company focused on tungsten in Nevada, USA, is pleased to provide a Pre-Feasibility Study ("PFS") progress update on its 100%-owned Pilot Mountain tungsten project ("Pilot Mountain" or the "Project") located in Nevada, USA. The Company reports strong progress across all key PFS workstreams which are progressing as planned. The PFS 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, and is led by Guardian Metal's in-house team in collaboration with Samuel Engineering Inc., and a group of specialist engineering and environmental firms. Oliver Friesen, CEO of Guardian Metal, commented: "We are very pleased to report strong progress at Pilot Mountain. Key PFS workstreams are advancing very well, and upon completion, the Company will move swiftly into both the mine permitting phase and commence workstreams to support the Definitive Feasibility Study, marking the next significant step in the Project's development. "Alongside the strong engineering progress presented herein, encouraging visual results from the Garnet Zone, Desert Scheelite Zone (East), and the commencement of drilling at the Good Hope Zone continue to support the Project's largely unrealised exploration potential. "Guardian Metal continues to make the progress required to deliver the first new hard-rock mined source of tungsten on U.S. soil in more than a decade." PFS Highlights: • Resource Evaluation Update: All drilling required to support the ongoing resource evaluation work at the Desert Scheelite and Garnet Zones has been completed. The final PFS results are expected to include the outcomes of the ongoing resource evaluation workstreams from both of these target zones. • Mine Planning: The Project is currently being evaluated as a conventional open-pit operation, sourcing feed from both the Desert Scheelite and Garnet Zones. Mine design and optimisation are advancing in line with the planned PFS schedule. • Permitting: The mine Plan of Operations, which will initiate the National Environmental Policy Act process upon subm...
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