Almonty begins operations at Gentung Browns Lake

Executive Summary

• Almonty Industries Inc. has completed the acquisition of 100% ownership of the Gentung Browns Lake tungsten project in Beaverhead County, Montana, marking its entry into the U.S. market.
• The acquisition adds a significant undeveloped tungsten asset to Almonty’s global portfolio, aiming to strengthen domestic U.S. tungsten supply chains for defense and strategic industries.
• The project targets production readiness by the second half of 2026, with an expected annual output of approximately 140,000 metric tonne units.

Key Details

• Transaction Structure: Almonty acquired 100% ownership of the Gentung Browns Lake tungsten project.
• Project Location: Beaverhead County, Montana, United States.
• Mineral Resources (NI 43-101): 7.53 million tonnes grading 0.315% WO3 at a 0.10% cut-off (based on a technical report effective February 2012).
• Deposit Characteristics: Contact metasomatic garnet skarn hosting scheelite mineralization.
• Mining Method: Room-and-pillar underground development in competent skarn rock.
• Metallurgy: Greater than 90% tungsten recovery and 20-25% garnet recovery.
• Infrastructure: Includes road access, nearby power, water rights, and an existing mill site.
• Development Timeline: Exclusive rights to explore and develop the Gentung Browns Lake corridor; targeting potential production readiness by the second half of 2026.
• Expected Production: Approximately 140,000 metric tonne units of output per year based on initial design expectations.
• Strategic Context: The acquisition supports U.S. government initiatives to strengthen critical mineral independence in defense, aerospace, and advanced technology sectors, reducing reliance on Chinese sources.

Notable Quotes

• "This closing marks a transformative moment for Almonty," said Lewis Black, chairman and chief executive officer of Almonty Industries. "By entering the United States, we are expanding into the world's most strategic market for tungsten, one that is actively rebuilding domestic supply chains and reducing reliance on China. The Gentung Browns Lake project positions Almonty as a long-term, integrated U.S. supplier capable of supporting critical industries from defence and aerospace to semiconductors and advanced manufacturing."