American Tungsten adds second drill rig at Ima

Executive Summary

• American Tungsten Corp. has initiated a second drill rig at its Ima mine in Idaho, focusing on the Zero level and D level of the mine to assess mineralization and accelerate the Phase 1 drill program.
• Drilling on the Zero level involves rehabilitation of approximately 325 feet and the establishment of a new drill station (DSZ-1) to test the main Ima vein and a parallel vein system, with 9 holes (3,800 feet) planned from this location.
• A second drill station on the Zero level is planned to test for continuity of historical tungsten intercepts and broad zones of tungsten-molybdenum mineralization, potentially involving up to 10,000 feet in 15 holes.

Key Details

• Zero Level Drilling (Station DSZ-1):
  • Approximately 325 feet of the Zero level has been rehabilitated.
  • New drill station (DSZ-1) established in a crosscut 120 feet to the northeast.
  • Equipment: Sandvik DE130 with NQ rods, conducted by Rockhead Consulting LLC.
  • Objectives: Assess mineralization in the main Ima vein above the Zero level, south of historical production stopes, and test for mineralization in an additional parallel vein system to the northeast.
  • Plan: Nine holes totaling 3,800 feet designed from this location, subject to change based on results.
• Zero Level Drilling (Second Station):
  • Location: Approximately 720 feet beyond DSZ-1.
  • Objectives: Test continuity of significant tungsten intercepts in historical holes to the northeast and southwest of the main Ima vein drift; target broad zones of tungsten-molybdenum mineralization identified in historical Amax drift sampling in the cupola of the intrusion.
  • Plan: Up to 10,000 feet in 15 holes.
• D Level Drilling Status:
  • Drilling initiated in December 2025.
  • Completed: Over 4,200 feet of drilling in 11 holes from new drill stations in the footwall of the No. 5 and No. 7 vein systems.
  • Planned: Additional six holes totaling approximately 2,200 feet from the second and third drill stations.
  • Development: Approximately 335 linear feet of new underground development completed; drifts advanced to within 70 feet of the third drill station.
• Historical Context:
  • Ima mine produced approx. 199,449 million thermal units of WO3 between 1945 and 1957.
  • Exploration data includes unverified historical information; insufficient exploration to define a mineral resource.

Notable Quotes

• "Completion of initial mine rehabilitation on the Zero level and the start of drilling marks an important step forward, enabling increased productivity and accelerating the phase 1 drill program," said Ali Haji, chief executive officer of American Tungsten. "Identifying new mineralization in underexplored areas is essential to realizing the full potential of the project."