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"). The update follows on from the recent high-grade gold-silver-copper bedrock discovery made at Garfield which returned results up to 22.7g/t gold (Au) and 1,225g/t silver (Ag), which the Company announced on 23 January 20241. The Company previously confirmed the presence of significant porphyry and epithermal style mineralisation principally located within the Project's Power Line Zone, High-Grade Zone and Pamlico Au Zone.

Notably, Golden Metal previously confirmed a 'Magnetic Bullseye' geophysics anomaly (often associated with intrusive porphyry centres) identified proximal to the Project's High-Grade Zone. The results were considered by the Company's technical team to be significant, and a decision was taken to rapidly plan and undertake next exploration steps to drive the Project forward. The strategic £750,000 financing recently completed at a premium to the market share price, has enabled this accelerated next stage exploration programme which is now in progress.2 Crews from the Company's preferred geophysical contractor, SJ Geophysics, have been on site for the last few days undertaking a detailed high resolution ground magnetics geophysical survey and this work is progressing very well.

This work is to investigate the Company's postulation that there could be additional key potential porphyry intrusive centres to be discovered across Garfield, which if proven correct would further significantly increase the prospectivity and inherent value of the Project. The results from the ongoing work programme will provide a very important dataset as the Company continues pushing the Project up the value curve.