Latest news with #AmericanTungsten
Yahoo
4 hours ago
- Business
- Yahoo
American Tungsten Announces Strategic Advancements in IMA Mine Rehabilitation and Exploration Program
Vancouver, BC, July 30, 2025 (GLOBE NEWSWIRE) -- American Tungsten Corp. (CSE:TUNG) (OTCQB:DEMRF) (FSE:RK9) ('American Tungsten' or the 'Company') is pleased to provide a corporate update on its ongoing efforts to rehabilitate the historic IMA Mine in Patterson, Idaho and advance its expanded drilling programme. This programme is a critical step toward unlocking long-term value and reinforcing the Company's position to play a vital role in ore supply of tungsten in North America for defense, industrial and technology applications. 'As global demand for secure critical metals intensifies, American Tungsten continues to build strategic momentum, reinforcing its role as a cornerstone of North America's tungsten supply chain. The Company's dual approach—revitalizing a historically rich asset while defining a maiden resource, positions American Tungsten at the forefront of sustainable resource advancement. Following several months of detailed environmental assessment, engineering design, and community engagement, American Tungsten is entering the next phase of its IMA Mine rehabilitation strategy. With a fully-funded programme, the Company has secured preliminary approval for its site remediation plan, which focuses on restoring the existing infrastructure to support future production goals,' said Ali Haji, CEO of American Tungsten Corp. IMA Mine Project entering next phase of rehabilitation strategy Please click here to view image About the IMA Mine Project: The IMA Mine is an advanced, readily permittable, past producing tungsten-molybdenum property situated in the Idaho porphyry belt and located on patented mining claims. American Tungsten has an immediate opportunity to advance strong identified molybdenum-bearing intrusion targets located below historic tungsten production area through step-out drilling program. The IMA mine is a past-producing underground tungsten mine situated on 22 patented claims located in east central Idaho. Between 1945 and 1957, the property produced approximately 199,449 metric ton units of tungsten trioxide (WO3). It was subsequently explored for molybdenum and tungsten by various operators between 1960 and 2008. The mine was last in production in 1957 with significant underground rehabilitation and development conducted on the zero level by Midwest Oil and Inspiration Development Co. in the 1960s and late 1970s, including development of new drifts around unstable areas and construction of underground drill stations. Current rehabilitation efforts aim to re-establish safe access to previously rehabilitated areas and underground drill stations. American Tungsten has contracted Rockhead Consulting LLC to perform initial underground rehabilitation of the mine. Rockhead Consulting is an established underground mining contractor based in Sheridan, Montana, with over 40 years experience and an emphasis on safety and productivity. Rockhead provides a wide range of mine development services including engineering and construction of tunnels, declines, raises, shaft rehabilitation and de-watering projects of various sizes and complexity. Key Strategic Priorities IMA Mine Rehabilitation Underway: Site remediation commenced, focused on restoration and long-term sustainability; Work on the IMA project will begin with rehabilitation of the zero level drift to assess condition of underground infrastructure, establish access to underground drill stations on the zero level, and inform access to the upper D level for underground exploration drilling; Continue assessment of existing portals in collaboration with mining engineers to determine rehabilitation needs; and Finalize development plan and scope of work including necessary rehabilitation upgrades, confirmatory infill drilling, and metallurgical testing. Define IMA Mine Resources: Complete exploratory drilling to expand tungsten resources and assess underlying molybdenum porphyry system; Over 6,000 feet of underground diamond drilling planned in Q3-2025 across geological targets to bolster American Tungsten's long-term supply capabilities by enhancing resource definition; Compile and validate historical information; Define and finalize scope of work to complete a mineral resource estimate in Q3-2025; and Digitize historical drilling records, assay data / production volumes, and construct digital geological models. Foster and Secure Key Strategic & Financial Partnerships: Continue discussions to secure key strategic partnerships and non-dilutive financing with the U.S. Department of Defense and U.S. Department of Energy; Expand shareholder base and introduce new long-term, growth-oriented capital partners to reinforce financial sustainability and future expansion; and Received conditional approval for listing on the TSX Venture Exchange, marking a significant advancement for the Company and reflecting its continued corporate growth and aligning with the strategic development of our tungsten asset. ABOUT AMERICAN TUNGSTEN CORP. American Tungsten Corp. is a Canadian exploration company focused on high-potential tungsten and magnetite assets in North America. The Company is advancing the Ima Mine Project in Idaho to commercial production, addressing critical metal scarcity in North America. The Company's Ima Mine Project is a historic and high-quality underground tungsten past-producing property, where the Company holds an exclusive option to acquire full ownership (subject to a 2% royalty) and has expanded its land position with 113 additional federal claims covering nearly 2,000 acres. Social media links:LinkedIn: For further information, please contact: Investor Relations Email: ir@ CSE:TUNGOTCQB:DEMRFFSE:RK9 The Canadian Securities Exchange does not accept responsibility for the adequacy or accuracy of this release and has neither approved nor disapproved the contents of this press release. This news release includes certain statements that may be deemed 'forward-looking statements'. All statements in this news release, other than statements of historical facts, that address events or developments that the Company expects to occur, are forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words 'believes', 'expects', 'plans', 'anticipates', 'intends', 'estimates', 'projects', 'potential' and similar expressions, or that events or conditions 'will', 'would', 'may', 'could' or 'should' occur. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward-looking statements. Forward-looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made. Except as required by applicable securities laws, the Company undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change. Technical information in this news release has been prepared in accordance with Canadian regulatory requirements set out in National Instrument 43-101 — Standards of Disclosure for Mineral Projects ('NI-43-101'). Austin Zinsser, P.G., SME-RM, Vice President, Exploration for the Company, and a Qualified Person as defined by NI-43-101, has reviewed and approved the scientific and technical information in this news release. Sign in to access your portfolio
Toronto Star
4 hours ago
- Business
- Toronto Star
American Tungsten Announces Strategic Advancements in IMA Mine Rehabilitation and Exploration Program
Vancouver, BC, July 30, 2025 (GLOBE NEWSWIRE) — American Tungsten Corp. (CSE:TUNG) (OTCQB:DEMRF) (FSE:RK9) ('American Tungsten' or the 'Company') is pleased to provide a corporate update on its ongoing efforts to rehabilitate the historic IMA Mine in Patterson, Idaho and advance its expanded drilling programme. This programme is a critical step toward unlocking long-term value and reinforcing the Company's position to play a vital role in ore supply of tungsten in North America for defense, industrial and technology applications. 'As global demand for secure critical metals intensifies, American Tungsten continues to build strategic momentum, reinforcing its role as a cornerstone of North America's tungsten supply chain. The Company's dual approach—revitalizing a historically rich asset while defining a maiden resource, positions American Tungsten at the forefront of sustainable resource advancement. Following several months of detailed environmental assessment, engineering design, and community engagement, American Tungsten is entering the next phase of its IMA Mine rehabilitation strategy. With a fully-funded programme, the Company has secured preliminary approval for its site remediation plan, which focuses on restoring the existing infrastructure to support future production goals,' said Ali Haji, CEO of American Tungsten Corp.
Hamilton Spectator
4 hours ago
- Business
- Hamilton Spectator
American Tungsten Announces Strategic Advancements in IMA Mine Rehabilitation and Exploration Program
Vancouver, BC, July 30, 2025 (GLOBE NEWSWIRE) — American Tungsten Corp. (CSE:TUNG) (OTCQB:DEMRF) (FSE:RK9) ('American Tungsten' or the 'Company') is pleased to provide a corporate update on its ongoing efforts to rehabilitate the historic IMA Mine in Patterson, Idaho and advance its expanded drilling programme. This programme is a critical step toward unlocking long-term value and reinforcing the Company's position to play a vital role in ore supply of tungsten in North America for defense, industrial and technology applications. 'As global demand for secure critical metals intensifies, American Tungsten continues to build strategic momentum, reinforcing its role as a cornerstone of North America's tungsten supply chain. The Company's dual approach—revitalizing a historically rich asset while defining a maiden resource, positions American Tungsten at the forefront of sustainable resource advancement. Following several months of detailed environmental assessment, engineering design, and community engagement, American Tungsten is entering the next phase of its IMA Mine rehabilitation strategy. With a fully-funded programme, the Company has secured preliminary approval for its site remediation plan, which focuses on restoring the existing infrastructure to support future production goals,' said Ali Haji, CEO of American Tungsten Corp. IMA Mine Project entering next phase of rehabilitation strategy Please click here to view image About the IMA Mine Project: The IMA Mine is an advanced, readily permittable, past producing tungsten-molybdenum property situated in the Idaho porphyry belt and located on patented mining claims. American Tungsten has an immediate opportunity to advance strong identified molybdenum-bearing intrusion targets located below historic tungsten production area through step-out drilling program. The IMA mine is a past-producing underground tungsten mine situated on 22 patented claims located in east central Idaho. Between 1945 and 1957, the property produced approximately 199,449 metric ton units of tungsten trioxide (WO3). It was subsequently explored for molybdenum and tungsten by various operators between 1960 and 2008. The mine was last in production in 1957 with significant underground rehabilitation and development conducted on the zero level by Midwest Oil and Inspiration Development Co. in the 1960s and late 1970s, including development of new drifts around unstable areas and construction of underground drill stations. Current rehabilitation efforts aim to re-establish safe access to previously rehabilitated areas and underground drill stations. American Tungsten has contracted Rockhead Consulting LLC to perform initial underground rehabilitation of the mine. Rockhead Consulting is an established underground mining contractor based in Sheridan, Montana, with over 40 years experience and an emphasis on safety and productivity. Rockhead provides a wide range of mine development services including engineering and construction of tunnels, declines, raises, shaft rehabilitation and de-watering projects of various sizes and complexity. Key Strategic Priorities IMA Mine Rehabilitation Underway: Define IMA Mine Resources: Foster and Secure Key Strategic & Financial Partnerships: ABOUT AMERICAN TUNGSTEN CORP. American Tungsten Corp. is a Canadian exploration company focused on high-potential tungsten and magnetite assets in North America. The Company is advancing the Ima Mine Project in Idaho to commercial production, addressing critical metal scarcity in North America. The Company's Ima Mine Project is a historic and high-quality underground tungsten past-producing property, where the Company holds an exclusive option to acquire full ownership (subject to a 2% royalty) and has expanded its land position with 113 additional federal claims covering nearly 2,000 acres. Social media links: LinkedIn: X: Facebook: corp/ Instagram: YouTube: For further information, please contact: Investor Relations Email: ir@ CSE:TUNG OTCQB:DEMRF FSE:RK9 The Canadian Securities Exchange does not accept responsibility for the adequacy or accuracy of this release and has neither approved nor disapproved the contents of this press release. This news release includes certain statements that may be deemed 'forward-looking statements'. All statements in this news release, other than statements of historical facts, that address events or developments that the Company expects to occur, are forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words 'believes', 'expects', 'plans', 'anticipates', 'intends', 'estimates', 'projects', 'potential' and similar expressions, or that events or conditions 'will', 'would', 'may', 'could' or 'should' occur. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward-looking statements. Forward-looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made. Except as required by applicable securities laws, the Company undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change. Technical information in this news release has been prepared in accordance with Canadian regulatory requirements set out in National Instrument 43-101 — Standards of Disclosure for Mineral Projects ('NI-43-101'). Austin Zinsser, P.G., SME-RM, Vice President, Exploration for the Company, and a Qualified Person as defined by NI-43-101, has reviewed and approved the scientific and technical information in this news release.
Business Upturn
6 days ago
- Business
- Business Upturn
American Tungsten Corp. Announces Closing of Upsized $7m Financing
Vancouver, BC, July 24, 2025 (GLOBE NEWSWIRE) — American Tungsten Corp. (CSE:TUNG) (OTCQB:DEMRF) (FSE:RK9) ('American Tungsten' or the 'Company') is pleased to announce, further to its news releases of June 30, 2025 and July 17, 2025, the successful closing of its oversubscribed non-brokered private placement (the 'Offering'). Pursuant to the Offering, the Company issued 14,000,000 common shares (the 'Shares') at a price of C$0.50 per Share raising gross proceeds of C$7,000,000. The strong demand from institutional investors and insiders underscores growing confidence in the Company's vision, strategy, and momentum in the critical metals space. In consideration for providing certain finder's services to the Company in connection with the Offering, the Company paid cash finder's fees of an aggregate C$253,421.35 to certain arm's-length finders, representing 3.6% of the gross proceeds received by the Company from subscribers that were introduced to the Company by such finders. The Company also issued 502,293 common share purchase warrants (the 'Finder's Warrants'), to certain arm's-length finders. Each Finder's Warrant is exercisable to acquire one Share at an exercise price of $0.50 per Share for a period of 24-months from the date of issuance. All securities issued in connection with the Offering are subject to a statutory hold period of four months plus a day in accordance with applicable securities legislation ending on November 25, 2025. The Company will use the net proceeds from the Offering to fund exploration work programs, option payments, mineral property acquisitions, marketing and for general working capital purposes. The Company also announces the appointment of Dennis Logan as Chief Financial Officer, effective immediately. Mr. Logan brings over 25 years of executive leadership in financial services and the resource sector. He previously held senior financial roles with publicly traded companies including Almonty Industries Inc., where he played a key role in securing capital and driving operational efficiency within the tungsten industry. The Company would also like to extend its sincere gratitude to Mr. Ajay Toor, for his dedication during his tenure and wish him success on his future endeavors. Ali Haji, who has served as CEO since April 14, and brings over 20 years of metals and mining experience and investment management, will also join the Board of Directors, further strengthening the Company's governance and strategic oversight. 'Investor demand exceeded our expectations, and we are grateful for the vote of confidence in our long-term strategy and vision,' said Ali Haji, CEO of American Tungsten. 'This financing allows us to accelerate our development plans of our flagship Ima Mine asset in Idaho towards commercial production. With Dennis' leadership in financial strategy and capital markets, we are assembling the right team to guide American Tungsten into its next chapter of growth and value creation. I am also honoured to join the Board of Directors and look forward to contributing further to our governance and strategic execution.' This press release shall not constitute an offer to sell or the solicitation of an offer to buy securities in the United States, nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful. The securities being offered have not been, nor will they be, registered under the 1933 Act or under any U.S. state securities laws, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the 1933 Act, as amended, and applicable state securities laws. ABOUT AMERICAN TUNGSTEN CORP. American Tungsten Corp. is a Canadian exploration company focused on high-potential tungsten and magnetite assets in North America. The Company is advancing the Ima Mine Project in Idaho to commercial production, addressing critical metal scarcity in North America The Company's Ima Mine Project is a historic and high-quality underground tungsten past-producing property, where the Company holds an option to acquire full ownership (subject to a 2% royalty) and has expanded its land position with 113 additional federal claims covering nearly 2,000 acres. Social media links: LinkedIn: X: Facebook: corp/ Instagram: YouTube: For further information, please contact: Ali HajiChief Executive Officer Email: [email protected] Phone: +1 (647) 871-4571
Toronto Star
18-07-2025
- Business
- Toronto Star
American Tungsten Corp. Announces Upsize in Private Placement from $2.5 Million to $7.0 Million
Vancouver, BC, July 17, 2025 (GLOBE NEWSWIRE) — American Tungsten Corp. (CSE:TUNG) (OTCQB:DEMRF) (FSE:RK9) ('American Tungsten' or the 'Company') is pleased to announce, further to its news release of June 30, 2025, due to added interest, it is increasing the maximum amount to be raised under its previously announced non-brokered private placement of common shares of the Company (the 'Shares') from 5,000,000 Shares to up to a maximum of 14,000,000 Shares at a price of $0.50 per Share, for aggregate gross proceeds up to $7.0 million (the 'Offering'). 'This is a strong indication of the growing support for the IMA Project — a high-grade tungsten asset with the potential to become the first new tungsten producer in North America. It marks a key milestone in solidifying our path toward commercial production and advancing American Tungsten as a domestic supplier of critical minerals,' said Ali Haji, CEO of American Tungsten Corp.
