Western Star Resources Acquires the Past-Producing Eagle Point Tungsten Mine, New Mexico, Highlighting Historical Production and Untested Exploration Targets

Western Star Resources has acquired a 100% interest in the past-producing Eagle Point Tungsten Mine in Hidalgo County, New Mexico, consisting of 24 unpatented lode mining claims. The property historically produced ~1,800 tons of scheelite-bearing material at ~0.5% WO₃ during 1943–44. Recent USGS sampling returned a peak composite grade of 27.6% WO₃ with molybdenum credits. The acquisition cost is C$150,000 cash plus 4,000,000 common shares, with a 1.5% NSR royalty (option to repurchase 1.0% for C$1M). A systematic modern exploration program (UAV magnetics, geochemistry, mapping) is proposed to define drill targets.

• Positive elements: Adds a third U.S. tungsten property with documented historical production and exceptional rock-chip grades. The project sits on BLM land, amenable to standard permitting. The cash outlay is modest, and the share component (~9% dilution at current share count) is not excessively dilutive for a junior explorer. The company reinforces its narrative of assembling a district-scale, American-focused critical-minerals portfolio.
• Negative elements: The acquisition is the latest in a string of property purchases (Rowland, White Star, now Eagle Point) with no drilling yet completed. The grade of 27.6% WO₃ is from a single USGS composite outcrop sample and is not representative of any defined resource. The company’s cash burn remains high, and this adds another asset requiring expenditure, albeit near-term exploration is pre-drilling. The stock is in a steep downtrend from its May highs, and this release does not address the lack of near-term cash flow or financing risk.
• Net assessment: The news is incrementally positive as it expands the project pipeline and aligns with U.S. critical-mineral policy. However, it is a routine acquisition for a junior explorer constantly adding assets—expected given management’s stated strategy. No new assay results from ongoing Rowland Phase 1 work or drill permits are included, so the release lacks a catalyst that would fundamentally re-rate the stock.

Western Star Resources is a Canadian-listed junior miner focused on tungsten, a U.S. designated critical mineral. It holds past-producing tungsten properties in Nevada (Rowland, White Star) and New Mexico (Eagle Point), plus a large carbonate-replacement project in British Columbia (Western Star) with polymetallic showings. The company has no revenue, no defined resources compliant with NI 43‑101, and has not yet drilled any of its properties. It is entirely funded through equity placements and is in the grassroots exploration stage.