REG - Guardian Metal Rsrc. - U.S. Listing Update

Guardian Metal ResourcesAnnouncement

Tue 16:00

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RNS Number : 8190L  Guardian Metal Resources PLC  16 December 2025

16 December 2025

Guardian Metal Resources plc

('Guardian Metal' or the 'Company')

U.S. Listing Update

Further to the announcement dated 8 September 2025, Guardian Metal Resources
PLC (LON: GMET), a tungsten exploration and development company, is making
good progress with its plans to undertake an offering of American Depositary
Shares ("ADSs"), with each ADS representing ordinary shares of the Company
("Ordinary Shares"), in the United States and complete a related listing on a
U.S. securities exchange ("U.S. Listing").

In relation to the above, the Company has consulted with its two largest
shareholders, UCAM Limited ("UCAM") and Duquesne Family Office LLC
("Duquesne") on the U.S. listing process.  As part of these discussions, the
Company has agreed that both UCAM and Duquesne should have the right to
maintain their respective pro rata shareholdings in the Company by way of a
right of first refusal in respect of any new issue of Ordinary Shares, whether
in connection with the U.S. Listing or other fundraise by the Company, at the
same price per Ordinary Share that is offered in the U.S. Listing or other
fundraise, as applicable ("Right of First Refusal").

UCAM currently holds 47,411,352 Ordinary Shares, representing approximately
28.1% of the Company's issued share capital, and Duquesne currently holds
24,699,825 Ordinary Shares, representing approximately 14.7% of the Company's
issued share capital.  Accordingly, the granting of a Right of First Refusal
by the Company to each of UCAM and Duquesne represent related party
transactions pursuant to the AIM Rules for Companies. Having consulted with
the Company's Nominated Adviser, Cairn Financial Advisers LLP, the Company's
Directors consider the terms of the Right of First Refusal to be fair and
reasonable insofar as the Company's shareholders are concerned.

This statement does not constitute an offer of any securities for sale.

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
(http://www.goldenmetalresources.com) or contact the following:

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

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

 Nominated Adviser

 Sandy Jamieson/Jo Turner/Louise O'Driscoll
 Berenberg                                    Tel: +44 (0) 20 3207 7800

 Joint Broker and Financial Adviser

 Jennifer Lee/Ivan Briechle
 Tamesis Partners LLP                         Tel: +44 (0) 20 3882 2868

 Joint Broker

 Charlie Bendon/Richard Greenfield
 Tavistock                                    Tel: +44 (0) 7920 3150 /

 Financial PR                                 +44 (0) 7788 554035

 Emily Moss/Josephine Clerkin                 guardianmetal@tavistock.co.uk (mailto:guardianmetal@tavistock.co.uk)

 

About Guardian Metal Resources

Guardian Metal Resources PLC (LON: GMET, OTCQX: GMTLF) is a strategic mineral
exploration and development company driving the revival of U.S. mined tungsten
production and strengthening America's defense metal independence. The Company
is advancing two co-flagship tungsten projects, Pilot Mountain, one of the
largest undeveloped tungsten deposits in the U.S. and Tempiute, formerly
America's largest producing tungsten operation, both located in Nevada, one of
the top-rated mining jurisdictions in the U.S.

In July 2025, Golden Metal Resources (USA) LLC, a wholly-owned subsidiary of
Guardian Metal, was awarded US$6.2M from the U.S. Department of War under
Title III of the Defense Production Act of 1950 to support the Pilot Mountain
pre-feasibility study. The Company has announced plans to pursue a U.S.
listing in the first half of 2026.

Tungsten is a strategic metal essential to the defense, energy transition,
technology, and industrial sectors. Against the backdrop of evolving
geopolitical dynamics and Chinese export restrictions on tungsten, Guardian is
positioned to play the leading role in rebuilding a reliable mined domestic
supply chain for this critical defense metal entirely on U.S. soil.

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