Expands Mineralization with Multiple Footwall Intersects

American Tungsten Corp. (TSX-V: TUNG) (OTCQB: TUNGF) (FSE: RK90) reported additional assay results for drillholes completed from the D-level of the Ima mine, Lemhi County, Idaho. Drilling in the footwall of the No. 5 and 7 vein system has delineated multiple stacked tungsten bearing polymetallic veins outside of previously mined areas. In addition, step-out drilling in the No. 5 and 7 vein continues to delineate significant tungsten mineralization.

Highlighted intercepts in the No. 5 and 7 veins include:

• 24 ft grading 0.75% WO₃ and 3.06 oz/t Ag in hole AT26-23, in the No. 5 vein
• 8 ft grading 0.53% WO₃ and 1.1 oz/t Ag in hole AT26-12, in the No. 5 vein
• 15.8 ft grading 0.33% WO₃ and 0.66 oz/t Ag in hole AT26-12, in the No. 7 vein

Significant intercepts in newly defined veins below the D-Level, including:

• 5.2 ft grading 1.41% WO₃ and 3.97 oz/t Ag in hole AT26-24, in the No. 2 vein
• 4.4 ft grading 1.78% WO₃ and 0.94 oz/t Ag in hole AT26-27, in the No. 1 vein
• 3 ft grading 0.41% WO₃ and 0.51 oz/t Ag in hole AT26-24, in the No. 1 vein
• 12 ft grading 0.47% WO₃ and 2.87 oz/t Ag in hole AT26-29, in the No. 1 vein
• 16.3 ft grading 0.29% WO₃ and 0.59 oz/t Ag in hole AT26-29, in the No. 0 vein
• 5 ft grading 0.72% WO₃ and 0.46 oz/t Ag in hole AT26-20, in the No. 0 vein

“The strength and consistency demonstrated in these latest drill results from the D-level at Ima reinforce our confidence in the scale and continuity of the mineralized system,” said Austin Zinsser, V.P., Exploration of American Tungsten. “Intercepts such as 24 feet grading 0.75% WO₃ and 3.06 oz/t Ag in the No. 5 vein, alongside high-grade intervals including 4.4 feet of 1.78% WO₃ in newly defined footwall veins, highlight both the quality of the resource and its expansion potential. Importantly, drilling has successfully delineated multiple stacked tungsten-bearing polymetallic veins in the footwall beyond historically mined areas, while step-out drilling in the No. 5 and 7 veins continues to confirm significant mineralization. This expanding footprint underscores the untapped upside at Ima.”

“As we transition into Phase 2 exploration, our strategy is clear: to systematically grow and define this mineralized system while advancing the project toward development. We have also undertaken the largest drill program in the Company’s history, alongside completing significant rehabilitation work at the Ima mine, positioning us for sustained progress. With tungsten playing an increasingly critical role in global supply chains, we believe Ima is well-positioned to help close the supply gap and establish American Tungsten as a potential first mover in bringing new North American tungsten production to market,” stated Ali Haji, CEO of American Tungsten.

Four drillholes have been completed into the footwall of the D-level vein system and intersected multiple hubnerite-scheelite-tetrahedrite bearing quartz veins and stacked vein arrays ranging from one foot to over 5 feet in width. Newly identified veins were numbered consecutively with historically named veins and include the No. 2, No. 1 and No. 0 vein, in addition to multiple minor veins, 1-2 ft in width, sometimes grading >1% WO₃.

Veins are interpreted as moderately southwest dipping, sub-parallel to the No. 3-5-7-8 vein system in the hanging wall, conformable with host host-rock stratigraphy. Holes AT26-20, AT26-24, AT26-27 were drilled sub-perpendicular to the veins; holes AT26-26 and AT26-29 were drilled oblique and true width of veins is estimated to be 50-65% of assay intercept widths.

Drilling from the second D-level drill station has defined discrete veins and sheeted vein arrays as extending 300 to 400 feet down-dip and up to 200 feet along strike. Additional drilling into the footwall vein system from existing D-level drill stations is planned to establish along-strike continuity of mineralization in the footwall target as part of the Company’s on-going Phase 2 exploration program.

In addition to drillholes in the footwall, results from holes AT26-11, 12 and 23, which were drilled from the second D-level drill station upward, successfully intersected the No. 5 and 7 veins up-dip of the D-level. Additional upward fan-drilling is underway from the third D-level drill station and a crosscut into the footwall of the D-level is being developed to further expand the lateral limits of mineralization. Assay results for the bottom of hole AT26-29 are pending and will be released when complete. Drillhole AT26-23 was extended off the claim block for due diligence purposes and results cannot be fully disclosed.

Exploration drilling at the Ima project is on-going with two surface drill rigs and two underground drill rigs currently operating. To date, over 10,000 feet of drilling and 24 drillholes have been completed on the D-level, with an additional 7,600 feet of drilling completed on the Zero-level and surface. Additional assay results for completed Zero-level and D-level drillholes will be released once received and compiled.

New drillhole results are reported in Table 1 below. Assays for additional completed drillholes are pending.

Table 1: Summary Drillhole Assay Results From Ima Tungsten Project

1)    True width of intercepts are estimated to be 70-90% of composite length for AT26-11,12,20,23,24 and 27. True width is estimated at 50-65% for AT26-26,27,29
2)    WO3 and MoS2 % values are calculated from ppm analyses based on stoichiometry factors of 1.2611 and 1.668, silver is reported in troy ounces per ton
3)    Composites are generated using a 0.1% WO3 cut off grade or 0.5oz/t Ag grade and may include internal waste below cut off grade.

Figure: Vertical Section Looking N20W showing significant intercepts and vein system interpretation, 200 ft view corridor.

Figure: Plan map of the D-level showing completed drillholes and second drill station.

Drill Program to date

To date, American Tungsten has completed 24 drillholes on the D-level and 15 drillholes on the Zero-level of the mine totaling approximately 17,600 feet. Mineralization in the principal veins consists of variable assemblages of hubnerite, scheelite, tetrahedrite, galena, sphalerite, and chalcopyrite, plus fluorite and rhodochrosite. Additional mineralization is associated with minor veins and stockworks within intervening metasedimentary host rocks.

About the Ima Mine

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 MTUs of WO3 and was subsequently explored for molybdenum and tungsten by various operators between 1960-2010 (National Instrument 43-101 Technical Report on the Ima Mine, Patterson, Idaho, USA, p.29; LeBlanc, B., P.Eng. (2025) A-Z Mining Professionals. Dated June 6, 2025 on SEDAR+ for American Tungsten Corp.) American Tungsten Corp is currently conducting an exploration drill program and assessing potential for re-start of underground tungsten mining operations at the IMA Mine.

Sampling Methodology

Drillholes were completed using Hagby 1000 or Sandvik 130 drill rigs with NQ sized rods. Drill core was transferred to American Tungsten geologists under chain of custody and stored in a secure facility. Drill core was logged for lithology, alteration, mineralization, and structure prior to sampling. Sample number tags were affixed to core boxes and core marked for sawing. Core was sawn in half, with one half submitted for analysis and the remaining half retained for reference. Samples were collected at approximate 5 foot intervals in wall rock and shorter intervals within vein mineralization, with sample lengths adjusted to geological boundaries where appropriate. Samples were submitted for assay to ALS Global in Twin Falls, Idaho.

QA/QC and Sample Analysis

American Tungsten Corp’s Quality Assurance and Quality Control QA/QC program applies industry standard best practices to ensure data quality and integrity for the IMA Mine project, including maintaining chain of custody, secure sample transport and storage, adherence to data collection protocols and inclusion of certified reference, blank and duplicate quality assurance samples in laboratory submissions.

Samples were submitted to ALS Global laboratory in Twin Falls, Idaho, for preparation. Samples were crushed to 70% passing 2 mm screen, rotary splitting 250g and pulverized to 85% passing a 75 μm screen. Samples were analyzed by ALS Minerals in the Vancouver, BC, Canada. Samples were analyzed by four acid digest with ICP-MS finish. Samples exceeding 200 ppm W were analyzed by XRF with lithium borate fusion preparation. Samples exceeding 50ppm Ag were analyzed by fire assay with gravimetric finish.

Qualified Person

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.

About American Tungsten Corp.

American Tungsten Corp. is a Canadian-based exploration and development company focused on advancing the Ima Mine Project, a high-quality, private-patented, past-producing underground tungsten mine located in Idaho, USA. The Company’s strategy is centered on advancing the Ima Mine back into commercial production through a clearly defined, phased development approach. Phase I involves the evaluation and potential processing of existing surface tailings, providing a lower-capital pathway to near-term production. Phase II is focused on the rehabilitation and restart of the historic underground mine, leveraging the site’s extensive existing infrastructure and historical production profile.

With tungsten recognized as a critical metal for defense, industrial manufacturing, and advanced technologies, American Tungsten is focused on re-establishing domestic tungsten production and supporting North American supply chain security.