1 June 2023

Golden Metal Resources plc

('Golden Metal' or the 'Company')

Publication of Inaugural ESG Report

Golden Metal Resources plc (LON:GMET), a mineral exploration company focused on tungsten, gold, copper and silver within Nevada, USA, is pleased to announce the publication of its inaugural Environmental, Social and Governance (ESG) Report (the "Report").

The link to the full Report can be found at the Company's website:

https://www.goldenmetalresources.com/company/environmental-social-governance/

Highlights:

-      The ESG Report published today includes data from the Company's incorporation all the way until its admission to AIM on May 10, 2023. The data published will act as a benchmark for the Company as it now ramps up its exploration and development plans across its Nevada based project portfolio.

Oliver Friesen, CEO of Golden Metal, commented: 

"Since our successful admission to AIM a few weeks ago, Golden Metal has been making positive strides across various work streams. This includes the recently published exploration results from our Garfield and Golconda Summit projects, and today, with the publication of our inaugural ESG report.

"In recent years, the global investment landscape has witnessed a profound shift towards ESG-focused investing, particularly in the mineral exploration and development sector. This shift has led investment houses to establish rigorous internal ESG criteria, which must be met before investment decisions are made.

"At Golden Metal, we believe in transparency when it comes to our ESG policies, not only because it is the right thing to do, but also because it is essential for best positioning ourselves to access a wide range of potential funding sources as we advance our strategy. By demonstrating our commitment to responsible ESG practices, we strengthen our credibility and attract investment partners who share our values.

"To that end, as 100% owners of the Pilot Mountain Project, which hosts one of the largest and most advanced undeveloped tungsten resources in the USA, we understand the strategic and critical nature of this venture. By adhering to industry leading ESG standards, we aim to maximize the positive impact of our activities and contribute to positive working relationships within the USA and Nevada where we are active."

For further information visit www.goldenmetalresources.com or contact the following:

The Projects:

Pilot Mountain Project

The Pilot Mountain project is an advanced exploration and mineral resource definition stage project located in Mineral County in western Nevada. The project covers an area of 14.80 km² (3,656.1 acres) and is located 200km southeast of Reno and 18km east of Mina, Nevada. It is well situated for the supply of power, water and skilled labour and proximity to transport infrastructure in Mineral County and is centred around four existing mineral deposits: Garnet; Good Hope; Gunmetal and Desert Scheelite, all of which possess significant skarn-style tungsten-copper-silver-zinc mineralisation. The Pilot Mountain project consists of 176 active lode mining claims and 4 filed mill site claims. The four mill site claims filed at the former Dunham mill site have secure access to groundwater supply sufficient for the proposed project.

Golconda Summit Project

Golden Metal is the operator of the Golconda Summit project, which is held under an earn-in right to acquire up to 100 per cent. of the project from the mineral claim owner pursuant to an option agreement. The Golconda Summit project is an exploration stage gold and silver project located in Humboldt County and situated at the confluence of the Getchell and Battle Mountain - Eureka metallogenic trends, and consists of 44 lode mining claims, covering a total area of approximately 3.22 km² (795.4 acres) located approximately 27km east of Winnemucca.

Garfield Project

The Garfield project is an early exploration stage copper, gold and silver property consisting of 39 lode mining claims covering 3.23 km² (797.9 acres) located in Mineral County, Nevada, approximately 14km due east of the town of Hawthorne and 120km due west-northwest of Tonopah.

Stonewall Project

The Stonewall project is an exploration stage gold-silver property prospective for epithermal gold-silver mineralisation. The property consists of 19 lode mining claims covering 1.59 km² (392.5 acres) located on the northern flank of Stonewall Mountain, on the western edge of the Nellis Airforce Range Restricted Access Area, in Nye County, Nevada, approximately 24km south-east of the historic gold mining town of Goldfield and 60km due south of Tonopah.