Subsidiaries

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Activity

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Country of
incorporation

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Ownership
interest

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Registered office

Golden Metal Resources, LLC

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Mining and exploration

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USA

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100% of ordinary shares held directly

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3800 Howard Hughes Parkway STE 1000, Las Vegas, NV 89169, USA

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Pilot Metals Inc.

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Mining and exploration

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USA

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100% of ordinary shares held directly

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241 Ridge Street STE 210. Reno, NV 89501, USA

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BFM Resources Inc.

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Mining and exploration

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USA

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100% of ordinary shares held directly

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241 Ridge Street STE 210. Reno, NV 89501, USA

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Guardian Exploration Ltd

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Mining and exploration

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UK

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100% of ordinary shares held directly

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25 Eccleston Place, London, SW1W 9NF, United Kingdom

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Guardian Exploration Inc.

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Mining and exploration

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USA

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100% of ordinary shares held indirectly through Guardian Exploration Ltd

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3800 Howard Hughes Parkway STE 100, Las Vegas, NV 89169, USA

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GMET Tungsten Holding Co.

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Mining and exploration

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USA

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100% of ordinary shares held directly

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3800 Howard Hughes Parkway STE 100, Las Vegas, NV 89169, USA

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Advance Tungsten Reserve, Inc.

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Mining and exploration

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USA

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100% of ordinary shares held indirectly through GMET Tungsten Holding Co.

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3800 Howard Hughes Parkway STE 100, Las Vegas, NV 89169, USA

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Tempiute Inc.

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Mining and exploration

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USA

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100% of ordinary shares held indirectly by Golden Metal Resources, LLC

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3800 Howard Hughes Parkway STE 100, Las Vegas, NV 89169, USA