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"), which the Company announced on 09 January 2024. Detailed analysis of recently collected rock sample geochemical assay data shows that mineralisation has strong porphyry/intrusion related geochemical association (e.g. with silver, bismuth, gold).

Importantly, higher-grade gold-silver mineralisation now shown to have epithermal deposit geochemical signatures - representing a new deposit style not yet recognised at Garfield. It is postulated that epithermal gold-silver mineralisation locally overprints the original porphyry system within Garfield leading to very high gold-silver grades not typically associated with porphyry systems. The Company recently became aware that a uranium focused exploration company, conducted an unmanned aerial vehicle ("UAV") magnetic and radiometric survey and ground spectrometer prospecting over part of the southern portion of the Garfield Project. Significantly, these results highlighted a strong radiometric as well as magnetic bullseye geophysical anomaly within the High-Grade Zone.

Magnetic bullseyes are often associated with intrusive porphyry centres. Additionally, based on the full suite of results obtained by Kraken, a uranium target which also falls within Garfield was identified - near the southern edge of the High-Grade Zone. Nevada State geological maps highlight two at surface intrusive units mapped as quartz monzonites to granodiorite, which are typical rock assemblages associated with porphyry deposits including the nearby Pumpkin Hollow Copper Mine owned by Nevada Copper (385.7Mst at 0.47% copper ("Cu"), 0.05g/t Au, 1.6g/t silver ("Ag"))2. These two mapped units crosscut both the High-Grade and Pamlico Au Zones.

These mapped units are corroborated by field notes taken during the recently completed campaign which confirm many of the samples obtained were described as various granitoid (intrusive) rocks. High-grade copper-gold-silver mineralisation has now been defined over a circa 4km2 area, within the 100% Golden Metal owned project claim footprint with confirmed strong associations to both porphyry (intrusive), epithermal and related-skarn mineral deposits. In addition, final overlimit silver assay results from ALS USA Inc. laboratory (using aqua regia assay method Ag-OG46) have now been received with results returning up to bonanza grade silver (1,225g/t Ag).

The complete gold-silver-copper results achieved at the 'Pamlico Gold Zone' are outlined below and point to a very exciting newly staked target area for the Company.