American Tungsten Corp. (CSE: TUNG) (OTCQB: TUNGF) (FSE: RK90) is pleased to announce that it has received a letter of interest from the US Export-Import Bank (EXIM) for a loan worth up to US$25.5 million, to potentially fund the mining development and milling facilities associated with the Company’s IMA Tungsten Mine in Patterson, Idaho.

The loan, if approved, will help provide access to a domestic source of tungsten in the United States.

Tungsten is a vital material for defense applications, with unparalleled hardness and high-temperature resistance, making it indispensable for armor-piercing ammunition, missile components, and aerospace manufacturing. The U.S. Department of Defense and the Defense Industrial Base Consortium, of which the Company is an active member of, classifies tungsten as a critical mineral. Currently, the United States remains heavily reliant on imports – primarily from China, which dominates over 80% of the global supply. The recent ban on tungsten exports by China underscores the need to establish a stable, US domiciled supply chain to safeguard national security interests. If approved, this loan initiative would help offset the capital needed to restart production at the Company’s IMA Tungsten Mine and help alleviate these domestic supply challenges.

In a letter dated October 17^th, 2025, American Tungsten has met initial requirements to apply for the US$25.5 million EXIM loan and, if approved, would have a 15-year repayment term, longer than the Company would expect with public debt financing.

ABOUT EXIM

The Export-Import Bank of the United States is the official export credit agency of the United States. EXIM is an independent Executive Branch agency with a mission of supporting American jobs by facilitating the export of U.S. goods and services.

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 on private-patented land well above the water table with significant infrastructure. 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.

For further updates, visit www.americantungstencorp.com or investor relations, Joanna Longo at ir@americantungstencorp.com.

Social media links:
LinkedIn: https://www.linkedin.com/company/americantungstencorp/
X: https://x.com/amtungsten
Facebook: https://www.facebook.com/americantungstencorp/ 
Instagram: https://www.instagram.com/americantungstencorp/
YouTube: https://www.youtube.com/@americantungstencorp

For further information, please contact:

Ali Haji
Chief Executive Officer
Email: ahaji@americantungstencorp.com
Phone: +1 647 871 4571

CSE: TUNG
OTCQB: TUNGF
FSE: RK90