American Tungsten increases financing to $34.78-million

Mr. Ali Haji reports AMERICAN TUNGSTEN ANNOUNCES UPSIZE OF BOUGHT DEAL FINANCING TO $35 MILLION Due to investor demand, American Tungsten Corp. has entered into an amended agreement with Stifel Canada to act as sole underwriter and bookrunner to increase the size of its previously announced bought deal private placement offering, pursuant to which the underwriter has agreed to purchase on a bought deal basis, 12,423,000 units of the company at a price of $2.80 per unit for aggregate gross proceeds of $34,784,400. The company has granted the underwriter an option to purchase (or arrange for substituted purchasers to purchase) up to an additional 1,863,450 units at the issue price on the same terms and conditions as the offering. The underwriter's option will be exercisable, in whole or in part, at any time up until 48 hours prior to the closing of the offering. Each unit will consist of one Class A common share and one Class A common share purchase warrant of the company. Each warrant will be exercisable to acquire one common share for a period of 36 months following the closing date of the offering at an exercise price of $3.75 per common share. The net proceeds from the offering are expected to be used by the company to advance exploration and development at the company's Ima mine project and for working capital and for general corporate purposes. The units will be offered by way of private placement: (a) in each of the provinces of Canada pursuant to applicable prospectus exemptions under applicable Canadian securities laws; (b) to investors in the United States pursuant to available exemptions from the registration requirements of the U.S. Securities Act of 1933, as amended; (c) in jurisdictions outside of Canada and the United States as are agreed to by American Tungsten and the underwriters on a private-placement-equivalent basis. The offering is scheduled to close on or about March 18, 2026, and is subject to certain conditions, including, but not limited to, the receipt of all necessary regulatory and other approvals. The offering is subject to the policies of the Canadian Securities Exchange. The securities issued pursuant to the offering will be subject to a four-month hold period in accordance with applicable Canadian securities laws and the rules of the 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.