American Tungsten Receives LOI from U.S. Export-Import Bank (EXIM) for US $25.5 Million to Fund Mining Development and Production

Executive Summary

• American Tungsten Corp. received a letter of interest from the U.S. Export‑Import Bank (EXIM) for a loan up to US $25.5 million to fund development and milling at its IMA Tungsten Mine in Idaho.
• The loan would carry a 15‑year repayment term, offering more favorable financing than typical public debt.
• Approval of the loan would help restart production, reduce U.S. reliance on imported tungsten (largely from China), and support national defense supply chains.

Key Details

• Loan Amount: Up to US $25.5 million.
• Lender: Export‑Import Bank of the United States (EXIM).
• Purpose: Finance mining development and milling facilities at the IMA Tungsten Mine, Idaho.
• Repayment Terms: Proposed 15‑year term, longer than typical public debt financing for the company.
• Strategic Rationale: Provides a domestic source of critical tungsten for defense applications; aligns with U.S. Department of Defense classification of tungsten as a critical mineral.
• Current Market Context: The United States imports >80 % of its tungsten, primarily from China; recent Chinese export ban heightens supply risk.
• Letter Date: October 17, 2025 – American Tungsten met initial requirements to apply for the loan.
• Project Status: Loan proceeds would offset capital needed to restart production at the IMA Mine, a historic underground tungsten property with existing infrastructure and an exclusive option to acquire full ownership (subject to a 2 % royalty).

Notable Quotes

“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.” – Ali Haji, Chief Executive Officer

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