American Tungsten increases private placement to $22.6M

Mr. Ali Haji reports AMERICAN TUNGSTEN UPSIZES NON-BROKERED LIFE PRIVATE PLACEMENT TO $20 MILLION American Tungsten Corp. has upsized its previously announced non-brokered listed issuer financing exemption private placement offering, reflecting strong investor demand, and the company is eligible under the LIFE to raise gross proceeds of up to $22.6-million. The upsized offering will consist of up to 6,468,572 common shares of the company at a price of $3.50 per share, issued pursuant to the listed issuer financing exemption under Part 5A of National Instrument 45-106 (Prospectus Exemptions) and in reliance on Coordinated Blanket Order 45-935. Shares issued under the LIFE will not be subject to a statutory hold period under applicable Canadian securities laws. In connection with the offering, the company may pay cash finders' fees to eligible finders up to 6.0 per cent of the gross proceeds raised from subscribers introduced by such finders. An offering document related to the LIFE private placement will be available under the company's profile at SEDAR+ and on its website. Prospective investors are encouraged to review this document prior to making an investment decision. "This upsized financing underscores the robust institutional appetite for exposure to critical metals and validates American Tungsten's strategic role in strengthening the domestic supply chain," said Ali Haji, chief executive officer of American Tungsten. "The proceeds will accelerate our development timeline and support our transition toward production, reinforcing our vision to become the leading U.S. supplier of tungsten." The company intends to use the net proceeds of the offering toward its coming exploration program at the IMA mine, for fast-tracking technical studies and for additional working capital. The offering is subject to approval of the Canadian Securities Exchange. About American Tungsten Corp. American Tungsten 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-per-cent royalty) and has expanded its land position with 113 additional federal claims covering nearly 2,000 acres. We seek Safe Harbor.