Guardian Metal Resources PLC has entered into a strategic partnership with the Montana Mining Association (MMA) to advance a tungsten mining and recovery pilot program supporting domestic defense applications. The collaboration involves Montana Technological University (MTU) and the Army Research Laboratory (ARL). This initiative aims to strengthen U.S. economic and defense security by reshoring tungsten production, a metal designated as a strategic priority by the U.S. government.

As part of the agreement, Guardian Metal will supply stockpiled legacy ore from its Tempiute Tungsten project, located near Rachel, Nevada. The Tempiute project, formerly known as the Emerson Tungsten Mine, is a significant past-producing tungsten mine originally discovered in 1916 and most recently operated during the 1980s. The partnership focuses on upscaling domestic tungsten-rich sources from historical mine tailings and legacy ore stockpiles to evaluate pathways toward commercial production of tungsten metal powder for defense-relevant applications.

The pilot program will transport an initial ~250-400 tonnes of stockpiled legacy ore from Tempiute to Philipsburg, Montana. The material will undergo trial processing at a partner milling and processing facility. First shipments are expected by late summer 2026, subject to the completion of metallurgical test work currently underway at partner laboratories in the U.S. and U.K., and pilot-scale test work to be completed on-site in Montana.

Key Partnership Details

Matt Vincent, Executive Director of MMA, emphasized the importance of the partnership to national security and the industry. He stated that Guardian Metal's Tempiute material represents a significant domestic source of tungsten and demonstrates the Association's ability to establish a network of critical minerals projects across the Mountain West.

Oliver Friesen, CEO of Guardian Metal Resources, highlighted the strategic significance of the partnership. He noted that selecting Tempiute as a feedstock source validates the company's Nevada-based tungsten project portfolio. Friesen added that the initiative represents a tangible step toward building a domestic supply chain free from reliance on foreign sources at a time when tungsten supply security is critical to U.S. defense and industrial capability.

If the initial program proves successful, further shipments of tungsten-rich material from Tempiute could be supplied as part of an expanded program. This partnership aligns with Guardian Metal's strategy to advance its co-flagship projects, Tempiute and Pilot Mountain, toward a fully domestic mine-to-market tungsten supply chain.

Guardian Metal Resources PLC has confirmed that as of June 30, 2026, the total number of voting rights in the company stands at 194,807,981. This figure comprises 194,807,981 ordinary shares of £0.01 each in issue, with none held in treasury. The disclosure was made in accordance with the Financial Conduct Authority's (FCA) Disclosure and Transparency Rules and serves as the denominator for shareholders to calculate notification thresholds.

Separately, UCAM Limited has reduced its voting rights in Guardian Metal Resources PLC to 21.99%, down from a previous 24.34%. The threshold was crossed on June 26, 2026, and the issuer was notified on June 29, 2026. The filing, submitted to the FCA, details the resulting situation on the date the threshold was crossed due to an acquisition or disposal of voting rights.

Voting Rights Breakdown

The following table outlines the changes in UCAM Limited's holdings:

Share Details

The voting rights are attached to shares with the ISIN code GB00BPQY8R36. The total number of voting rights held in the issuer by UCAM Limited is 42,841,325. UCAM Limited, based in London, United Kingdom, is not controlled by any natural person or legal entity and does not control any other undertakings holding an interest in the issuer.

Guardian Metal Resources PLC is a U.S.-focused exploration-stage company focused on tungsten in Nevada, United States. Its principal tungsten asset is the Pilot Mountain project, followed by the Tempiute project. The notification was completed in London, United Kingdom, on June 29, 2026. This information was provided by RNS, the news service of the London Stock Exchange.