Golden Metal Resources plc announced a drilling update at the company's 100% owned Pilot Mountain Project located within the prolific Walker Lane Mineral Belt in Nevada, USA. Drilling operations have been underway for over a month with two NQ diameter diamond core drill holes completed for a total combined 547.6m from the planned 2,000m programme. Details of findings in respect of visual mineralization and alteration observed in each completed hole are outlined below, and the third hole is now underway.

The first batch of laboratory assay results are pending. Highlights: Hole 1 - Desert Scheelite (PM24-001): Drillhole PM24-001 was drilled near the central portion of the Desert Scheelite zone and was designed to test for extensions of the deposit to the north and south; PM24-001 intersected observed scheelite (tungsten) mineralization and skarn alteration from 12.2m (immediately below overburden) to 42.8m as well as from 65m to 151.8m (the end of hole, finished in mineralization). Extended intervals within this hole were observed to be very strongly mineralized; Subject to confirmatory assay results (which are pending), this hole has the potential to expand the deposit footprint towards both the north and south.

Hole 2 - Porphyry South (PM24-002): Drillhole PM24-002 was completed to a final depth of 407.1m and was drilled to test the Porphyry South magnetic anomaly. This hole represents the first hole ever drilled into this target; PM24-002 has successfully discovered a mineralized porphyry system and intersected a quartz monzonite porphyry from immediately below overburden at 22m depth through to the final hole depth of 407.1m; The Company is finalizing arrangements with a porphyry expert to complete a detailed review of PM24-002 in conjunction with all available Company datasets. The results of this analysis will help guide subsequent drillholes into Porphyry South which, based on the magnetic anomaly, stretches for at least 1,200m in an east-west direction and greater than 500m north-south representing a considerable target.