REG - Guardian Metal Rsrc. - US DoD awards $6.2m to Pilot Mountain Project

Guardian Metal ResourcesAnnouncement

23/07/2025 07:00

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RNS Number : 1395S  Guardian Metal Resources PLC  23 July 2025

23 July 2025

Guardian Metal Resources plc

('Guardian Metal' or the 'Company')

U.S. Department of Defense Awards $6.2M to Golden Metal Resources for the
Pilot Mountain Project

Guardian Metal Resources plc (AIM: GMET, OTCQX:GMTLF) is very pleased to
announce that its wholly-owned subsidiary Golden Metal Resources (USA) LLC has
been awarded US$6.2M from the U.S. Department of Defense to accelerate the
development of its flagship Pilot Mountain tungsten project ("Pilot Mountain"
or the "Project") in Nevada.

 

Highlights:

§ Golden Metal Resources (USA) LLC, a wholly-owned subsidiary of Guardian
Metal, has been awarded US$6.2M from the U.S. Department of Defense under
Title III of the Defense Production Act of 1950 ("DPA Title III" or the
"Award") to support the rapid advancement and pre-feasibility study for the
Pilot Mountain tungsten Project.

 

§ With this funding now secured, the Company plans on immediately advancing
the pre-feasibility study for its Pilot Mountain tungsten project, on the way
to its ultimate goal of playing a significant role in the U.S. onshoring
efforts of critical metals to support U.S. national security and economic
objectives.

Oliver Friesen, CEO of Guardian Metal, commented:

"I firstly want to extend my thanks to the U.S. Department of Defense and
Defense Production Act Purchases team for their tireless effort to support the
domestic critical minerals industry and the Pilot Mountain Project, in
particular. This Award is a step-change in our business, as we work towards
our goal of supporting the U.S. industrial base with Mined in America
tungsten.

"Now is the time for the U.S. to reestablish a reliable and secure domestic
source of mined tungsten. With this substantial non-dilutive award secured, we
move forward with further confidence in our business model and look forward to
showing the market, industry and government the achievements these funds will
enable."

J.T. Starzecki, Chairman of Guardian Metal, commented:

"On behalf of the Guardian Metal organization, I commend the determined
efforts of our team and the working relationship they have built with the U.S.
Department of Defense in the pursuit of achieving our first major milestone
for the company in 2025.

"This funding will unlock our ability to put forth a robust pre-feasibility
study (PFS) which will detail the scope of Pilot Mountain and help us advance
the Project towards our ultimate goal of being the newest domestic producer of
this critical mineral."

US Government Funding to Advance the Pilot Mountain Tungsten Project

Funding through the DPA Title III program is designated for key workstreams
associated with the Pilot Mountain pre-feasibility study which is currently in
progress. In addition, a range of environmental studies will be undertaken and
funded under the Award, supporting the pursuit of commercial production at
Pilot Mountain, which would represent the only U.S. mined source of tungsten.

The DPA Title III award is non-dilutive to Guardian Metal shareholders and no
commercial covenants are included in the Award that would impair Guardian
Metal's current business, nor the future sale of tungsten concentrates to the
industrial base. Guardian Metal's management team will lead the work and
periodically report progress to the administrators of the Award.

This announcement contains inside information for the purposes of Article 7 of
EU Regulation 596/2014 (which forms part of domestic UK law pursuant to the
European Union (Withdrawal) Act 2018).

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.guardianmetalresources.com) or contact the following:

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

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

 Nominated Adviser

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

 Broker

 Damon Heath/Erik Woolgar

 

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