REG - Golden Metal Rsrcs. - Broker appointment & Change of registered address

Golden Metal ResourcesAnnouncement

16/05/2024 16:45

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RNS Number : 7945O  Golden Metal Resources PLC  16 May 2024

16 May 2024

Golden Metal Resources plc

('Golden Metal' or the 'Company')

Broker Appointment and change of Registered Address

Golden Metal Resources plc (LON:GMET/OTCQB:GMTLF), a strategic development and
mineral exploration company focused on Nevada, USA, announces that the Company
has appointed Shard Capital Partners LLP ("Shard") to act as lead broker to
the Company with immediate effect, First Equity Limited will remain as joint
broker

In recent months Golden Metal has raised just under £2.5 million through a
£750,000 fundraise at a premium to the market price at the time (announced 11
March 2024) and £1.74 million through the exercise of warrants. On this basis
the Company has a strong working capital position.

Notwithstanding the strong financial position of the Company, the Board
considers that Shard's appointment is timely due to its strong institutional
connections both in the UK and abroad, reflecting Golden Metals aspirations to
be a significant player within the western world's growing need to reshore
critical and defence metal supply chains; with a particular focus on tungsten
and copper.

The Company also announces that it has changed its registered address to
Salisbury House, London Wall, London EC2M 5PS.

The Directors of the Company are responsible for the release of this
announcement.

For further information visit www.goldenmetalresources.com
(http://www.goldenmetalresources.com) or contact the following:

 Golden Metal Resources plc                        Tel: +44 (0) 20 7583 8304

 Oliver Friesen (CEO)
 Cairn Financial Advisers LLP (Nominated Adviser)  Tel: +44 (0) 20 7213 0880

 Sandy Jamieson/Jo Turner/Louise O'Driscoll
 Shard Capital Partners LLP (Lead Broker)          Tel: +44 (0) 20 7186 9000

 Damon Heath/Erik Woolgar
 First Equity Limited (Joint Broker)               Tel: +44 (0) 20 7374 2212

 Jonathan Brown/Jason Robertson

 

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 5.4 km(2) (1338 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 skarn-type and porphyry style mineralisation and alteration
at the 'High-Grade Zone'. Further mapping, prospecting and rock sampling was
recently completed with results confirming presence of high-grade copper,
silver and gold mineralisation.

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

Golden 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.

 

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