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 or contact the following:
| Golden Metal Resources plc Oliver Friesen (CEO) | Tel: +44 (0) 20 7583 8304 |
| Cairn Financial Advisers LLP (Nominated Adviser) Sandy Jamieson/Jo Turner/Louise O'Driscoll | Tel: +44 (0) 20 7213 0880 |
| Shard Capital Partners LLP (Lead Broker) Damon Heath/Erik Woolgar | Tel: +44 (0) 20 7186 9000 |
| First Equity Limited (Joint Broker) Jonathan Brown/Jason Robertson | Tel: +44 (0) 20 7374 2212 |
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 km2 (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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