Guardian Metal Resources (GMET) Corporate presentation summary

Strategic context and market drivers

• Tungsten is critical for U.S. national and economic security, with recent executive orders emphasizing domestic production and supply chain resilience.

• U.S. government awarded $6.2 million under the Defense Production Act to advance the Pilot Mountain tungsten project, aiming to restore domestic tungsten mining after nearly a decade.

• China controls about 84% of global tungsten supply and imposed export restrictions to the U.S. in February 2025, causing prices to rise over 200%.

• U.S. bans on tungsten ore imports from China and Russia for defense procurement take effect January 2027.

• Defense and high-tech sectors are driving tungsten demand, with defense consumption up 9.4% year-over-year.

Project portfolio and development status

• Two flagship Nevada projects: Pilot Mountain (100% owned) and Tempiute (option to earn 100%), both with significant tungsten and by-product resources.

• Pilot Mountain hosts an indicated resource of 8.7Mt at 0.206% WO3 and inferred 1.8Mt at 0.169% WO3, plus silver, copper, and zinc credits.

• Tempiute is a past-producing mine with existing infrastructure, high-grade stockpiles, and gallium identified; option to acquire 100% for $1M upon updated resource report.

• Both projects have ongoing drilling, environmental baseline studies, and metallurgical testing to support pre-feasibility and operational planning.

• Pilot Mountain signed an LOI for tungsten offtake with Global Tungsten & Powders and is advancing toward a pre-feasibility study by H1 2026.

Corporate structure and leadership

• Publicly listed in London and OTCQX, with a market cap of £236m and 168 million shares outstanding as of December 2025.

• Shareholding is concentrated among strategic investors, management, and family offices.

• Board and management team have deep experience in mining, finance, and U.S. government relations, including expertise in critical minerals and project development.