Guardian Metal Resources PLC has announced that its directors have increased their shareholdings, acquiring ordinary shares and American Depositary Shares (ADSs). Chief Executive Officer Oliver Friesen purchased 20,000 ordinary shares at 148p each on AIM for a total cost of £29,749.50. Non-Executive Director Michael Schlumpberger and Executive Chairman Jason Thomas Starzecki acquired 500 and 1,100 ADSs respectively on the NYSE at prices of $10.01 and $9.54 per ADS. Each ADS represents five ordinary shares of 1 pence in the company.

Following these transactions on July 17, 2026, Friesen holds 1,100,657 ordinary shares, representing 0.565% of the issued share capital. Schlumpberger holds 2,500 ordinary shares (0.001%), and Starzecki holds 150,656 ordinary shares (0.077%). The company noted that certain options exercisable within 60 days of the announcement would further increase the directors' economic interests.

Prior to these purchases, Guardian Metal Resources PLC implemented previously approved share option arrangements, granting a total of 681,817 new share options to certain directors. These grants followed the end of a closed trading period on July 14, 2026, under UK Market Abuse Regulation (MAR).

Grant of Options to Non-Executive Directors

Non-Executive Director Mark Thorpe was granted an option over 400,000 ordinary shares at an exercise price of £2.55 per share. The options have a three-year life, with 100,000 shares vesting immediately and the remaining 300,000 vesting on November 21, 2026. Non-Executive Director Michael Schlumpberger received an option over 100,000 ordinary shares at an exercise price of £1.31 per share, with 50% vesting immediately and the remaining 50% vesting on December 24, 2026.

Grant and Extension of Options for CEO

Chief Executive Officer Oliver Friesen was granted an Enterprise Management Incentive (EMI) option over 181,817 ordinary shares at an exercise price of 10.75p per share. Additionally, the exercise period of the original 2,104,859 options granted to Friesen on May 3, 2023, was extended by five years to May 3, 2031. The company determined these actions were necessary to restore Friesen to the economic position intended by the original EMI Option Deed after the original options did not qualify for tax-advantaged treatment.

Guardian Metal Resources plc announced exploration results from its non-core Nevada project portfolio on July 14, 2026. The company reported significant tungsten, gold, silver, and copper assay results from several projects, including the newly acquired White Elephant and Cinch projects. These results were achieved through channel and grab sampling, alongside the staking of new mining claims to expand the company's landholdings.

The company's non-core portfolio now comprises seven exploration-stage projects. Guardian Metal stated that the Board is assessing various options for these assets to ensure they are advanced for the benefit of existing shareholders, while allowing the company to concentrate resources on its co-flagship Pilot Mountain and Tempiute tungsten projects.

White Elephant Tungsten Project

The White Elephant project, acquired through the staking of 57 new BLM lode mining claims, returned significant tungsten grades. Channel sampling across outcropping scheelite-mineralised skarns yielded an interval of 95 ft (29.0 m) @ 0.31% WO3. This interval included higher-grade sub-intervals of 20 ft (6.1 m) @ 0.44% WO3 and 15 ft (4.6 m) @ 0.47% WO3. Additional highlight results included 10 ft (3.0 m) @ 0.50% WO3 with >0.7% Mo.

Pilot North Tungsten-Copper-Silver Project

Located less than 20 miles from the company's Pilot Mountain project, the Pilot North project was expanded by 8 new BLM lode mining claims. Channel sampling returned significant tungsten assays, including 95 ft (29.0 m) @ 0.18% WO3. High-grade grab sample results included 0.15% WO3 & >1% Cu and 425 g/t Ag & >1% Cu.

Cinch Tungsten-Silver Project

The newly acquired Cinch project, secured via 20 new BLM lode mining claims, yielded significant tungsten and silver assay results from reconnaissance fieldwork. Notable grab samples returned 0.22% WO3 from a brecciated fault zone and 1,950 g/t Ag from quartz vein material in mine dumps.

Garfield Gold-Silver-Copper Project

At the Garfield project, the company staked an additional 56 BLM lode mining claims to cover the new "Freeze South" and "Mother" zones. Significant assay results from rock chip samples included 11.2 g/t Au; 8.55 g/t Au & 7.1% Cu; and 7.2 g/t Au, 114 g/t Ag & 2.3% Cu. A 180 ft (54.9 m) chip channel sample from the "Freeze North" zone returned an average of 0.064 g/t Au, including an interval of 80 ft (24.4 m) @ 0.1 g/t Au.

Oliver Friesen, CEO of Guardian Metal, commented that the generative exploration programme continues to demonstrate value with very strong results across several Non-Core Assets. He highlighted the identification and rapid claim staking of new tungsten projects, including White Elephant and Cinch, as a testament to the team's work.