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

Oliver Friesen, CEO of Guardian Metal, commented:  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...

LONDON, 23/07/2025 (informazione.news - comunicati stampa - industria)

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 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 or contact the following:

Oliver Friesen (CEO)

 

Nominated Adviser

 

Sandy Jamieson/Jo Turner/Louise O'Driscoll

 

Broker

 

Damon Heath/Erik Woolgar

 

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