Golden Metal Resources plc announced an exploration update at the Company's 100% owned Pilot Mountain Project located within the prolific Walker Lake Mineral Belt in Nevada, USA. The Company has now commenced its first ever diamond drilling programme targeting strategic resource expansion and brownfield exploration targets at its 100% owned Pilot Mountain Project. This update covers the findings of the inversion modelling of the magnetic geophysics survey data, undertaken by SJ Geophysics Ltd, which was expedited following the identification of significant coincident magnetic geophysical and geochemical anomalies constituting potential porphyry targets at the Project.

Porphyry style mineral deposits host the world's sources of multiple metals including copper and in respect of Garfield it is postulated that the extensive mineralisation found at or near surface may be related to a buried porphyry system(s). The two significant potential porphyry targets at Garfield, at the Power-Line Zone ("PPL" target) and High-Grade Zone ("PS" and "PN" coalescing targets), will be subject to further planned work which will be detailed by the Company in a future announcement. Inversion Highlights: Magnetic geophysics inversion results of the magnetic high anomalies within the Power-Line and High-Grade Zones highlight two very significant buried magnetic bodies at depth.

At the High-Grade Zone, two discrete magnetic lobes apparent at surface, coalesce into one large magnetic body which remains open at depth. The main anomaly measures approximately 800m x 500m representing a very enticing target for future exploration. At the High-Grade Zone, the top of the PS and PN anomalies is located at approximately 150m depth and at surface are coincident with a significant copper-in-soil anomaly as well as rock samples with individual results up to 2.4% Cu, 27.2g/t Au and 29.9g/t Ag (sample 723310).

§At the Power Line Zone, the top of the PPL anomaly is located at approximately 200m depth and at surface is coincident with a significant copper-in-soil anomaly as well as rock samples with individual results up to 2.6% Cu, 0.54g/t Au and 7g/t Ag (sample 102614). Next Steps: The Company is currently finalising follow up exploration plans for Garfield which will be announced in due course. §Golden Metal's CEO is currently in Nevada and will be visiting the Project during the course of the week.

Associated updates will be provided on the Company's social media channels.