Golden Metal Resources plc announced an exploration update at the Company's 100% owned Garfield project located within the prolific Walker Lane Mineral Belt in Nevada, USA ("Garfield" or the "Project"). A recently completed ground magnetic geophysics survey has detected significant anomalies coincident with the Project's Power Line Zone and High-Grade Zone target areas where previous rock and soil sampling fieldwork confirmed the presence of significant porphyry and epithermal style mineralisation. Geophysics survey delineates three significant magnetic high anomalies in proximity to surface mineralisation: Two magnetic anomalies located within the 'High-Grade' zone - the main target zone identified at the Project to date; and One magnetic anomaly located within the southwestern part of the 'Power-Line' zone.

High-Grade zone magnetic anomalies, comprising magnetic targets 'PS' & 'PN' which measure 550m x 350m and 500m x 250m respectively. Power-Line zone magnetic anomaly target 'PPL' measures approximately 600m x 300m. Importantly - all three anomalies directly underlie the strongest parts of the copper (Cu)-in-soil anomalies identified during the recently completed geochemical survey and are also coincident with strong Cu - gold (Au) & silver (Ag)-in-rock results.EXT STEPS: The Company is very encouraged by the results and has immediately requested three dimensional (3D) in versions of the magnetic dataset which will provide a 3D model of the PS, PN and PPL targets.

Following the success of the Garfield magnetic survey, Golden Metal announced that it has commissioned SJ Geophysics to undertake a ground magnetic geophysics survey across some of the main target areas at Pilot Mountain and those results are currently being processed. Pilot Mountain drill programme preparations are well underway and Golden Metal expects to receive final drilling permits imminently. The survey was conducted along parallel north-south orientated survey lines at 100m spacing for a total reported survey length of approximately 84-line km.

A total of 88,640 individual data points were recorded. The resulting data has been processed for Total Magnetic Intensity (TMI), First Vertical Derivative (1VD), Reduction to Pole (RTP) and Analytical Signal (AS) mapping products. The Company has now commissioned SJ Geophysics Ltd. to undertake three-dimensional inversion modelling of the magnetic field data.

Garfield Project showing the location new targets 'PPL' located within the 'Power- Line' zone and 'PN' & 'PS' located within the 'High- Grade' zone over the Total Magnetic Intensity ground geophysics survey results PROPERTY OWNERSHIP Golden Metal holds a 100% interest in the Garfield Project through its wholly-owned Nevada operating company, Golden Metal Resources LLC. A 2% Net Smelter Return Royalty ("NSR Royalty") Interest, of which 1% can be bought back at any time for USD 1,000,000, is payable to Sunrise Resources plc. The NSR Royalty covers the original Garfield Project claims as well as a 1-mile radius outside of those claims which covers roughly half of the current 'High-Grade' zone.