9 May 2024
Golden Metal Resources
plc
('Golden Metal' or the
'Company')
Warrant
Exercise
Warrant Exercise
Period
Golden Metal Resources plc
(LON:GMET, OTCQB:GMTLF), a strategic development and mineral exploration company
focused in Nevada, USA, announces the exercise of further
warrants.
Warrant Exercise
The Company has received notices to
exercise warrants over a total of 4,236,091 new ordinary shares of 1p
each in the Company ("Warrant Shares") at an exercise price of
10.75p per Warrant Share, raising £455,380 for the Company.
Admission and Total Voting Rights
Application will be made for
the 4,236,091 Warrant Shares to be admitted to trading on AIM which is
expected to occur on or around 14 May 2024 ("Admission"). The
Warrant Shares will rank pari passu in all respects with the
ordinary shares of the Company currently traded on AIM.
Following Admission, the Company's
issued share capital will comprise 105,049,535 ordinary shares of 1p each. This number will represent the
total voting rights in the Company and may be used by shareholders
as the denominator for the calculation by which they can determine
if they are required to notify their interest in, or a change to
their interest in, the Company under the Financial Conduct
Authority's Disclosure and Transparency Rules.
Warrant Exercise Period
The Company has therefore received
notices to date for the exercise of a total of 14,431,633 warrants
at an exercise price of 10.75p per ordinary share ("10.75p
Warrants"), raising a total of £1,551,401 of new equity for the
Company.
The exercise period for the 10.75p
Warrants ends at midnight this Friday 10 May 2024, other than in
respect of 991,277 10.75p Warrants held by parties that are deemed
to be in possession of inside information (as defined in the UK
Market Abuse Regulation), where under the terms of the 10.75p
Warrant Instrument the exercise period shall be extended to 7 days
after the date upon which it would no longer constitute a breach of
the UK Market Abuse Regulation to exercise the 10.75p
Warrant.
In addition, there are a further
18,420,222 warrants outstanding with an exercise price of 17p
per Ordinary Share ("17p Warrants"). The exercise period of
the 17p Warrants ends at midnight on 10 May 2025, unless the holder
is deemed to be in possession of inside information (as defined by
the UK Market Abuse Regulation).
For further information visit
www.goldenmetalresources.com
or contact the following:
Golden Metal Resources plc
Oliver Friesen (CEO)
|
Tel: +44 (0)
20 7583 8304
|
Cairn Financial Advisers LLP
Nominated Adviser
Sandy Jamieson/Jo Turner/Louise
O'Driscoll
|
Tel: +44 20 7213 0880
|
First Equity Limited
Broker
Jonathan Brown/Jason
Robertson
|
Tel: +44 20 7374 2212
|
|
|
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 (3,904.1 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.
Garfield Project
The Garfield Project is an exciting
copper-gold-silver prospect consisting of 65 lode mining claims
covering 5.4 km2 (1,338 acres) located in Mineral
County, Nevada, approximately 14km due east of the town
of Hawthorne and 120km due west-northwest
of Tonopah. Exploration to date has included detailed
geochemical sampling and follow up analysis which highlighted the
presence of both porphyry and skarn-type mineralisation and
alteration at the 'High-Grade Zone'. Further to this, mapping,
prospecting and rock sampling was recently completed with results
confirming presence of high-grade copper, silver and gold
mineralisation as well as leading to the bedrock discovery of the
Pamlico Au Zone with individual rock samples up to 18.35g/t Au,
1,225g/t Ag & 1.89% Cu. Following this, geochemical analysis of
the full suite of data confirmed the strong presence of porphyry
style mineralisation across the Project, as well as potentially
overprinting epithermal style mineralisation leading to increased
gold-silver prospectivity.
Kibby Basin Lithium
Project
The Kibby Basin Project covers
two claim packages which are prospective for lithium brine
mineralisation. The southern claim package is less than 250m from a
2022 drillhole which returned a significant interval (169m) of
lithium brine mineralisation which was determined to be open in all
directions. The Project is less than 5km to the southeast of the
Company's flagship Pilot Mountain 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.
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.