American Tungsten completes first drill hole at Ima

Executive Summary

• American Tungsten Corp. completed the initial drill hole (AT25-01) at its Ima Mine Project in Idaho, intersecting hubnerite and scheelite tungsten mineralization in the No. 5 and No. 7 vein systems.
• Visual observations confirm significant widths of mineralization, including hubnerite crystals and scheelite fluorescence, though assay results are currently pending.
• Phase 1 drilling is underway to test five priority exploration targets with the goal of delineating historical resources and expanding known mineralization by the end of Q1 2026.

Key Details

• Drill Hole AT25-01:
  • Completed at 373 feet on Dec. 12, 2025.
  • Collared from a new crosscut in the footwall of the D-level vein system; oriented on a 280 azimuth with a plus-40 inclination.
  • Intersected the No. 5 vein over 12.7 ft from 95 to 107.7 ft.
  • Intersected the No. 7 vein over 14.1 ft from 240.2 to 254.3 ft.
• Drill Hole AT25-02:
  • Currently drilled to approximately 150 ft; oriented on a 225 azimuth with a plus-45 inclination.
  • Intersected the No. 5 vein over 11.5 ft from 93 to 104.5 ft.
  • Continues as part of the planned 10,000-foot Phase 1 program.
• Mineralization Observations:
  • Hubnerite (MnWO4): Observed as 0.5- to 10-millimeter reddish-brown to black striated prismatic crystals within discrete vein horizons in the No. 5 quartz vein. In the No. 7 vein, crystals ranged from 0.5 to 5 mm, locally partially oxidized.
  • Scheelite (CaWO4): Observed under shortwave ultraviolet light as blue fluorescent diffuse masses, sometimes rimming hubnerite crystals within coarse milky quartz over four feet of the vein.
  • Accessory Minerals: Tetrahedrite, chalcopyrite, galena, molybdenum, pyrite, and fluorite observed in both veins.
• Geological Parameters:
  • True width of veins is estimated to be approximately 80% of intercept width.
  • Core recovery is greater than 90% within vein material.
  • Wall rock in AT25-01 was generally unmineralized to weakly mineralized, except for additional pyrite-chalcopyrite plus or minus molybdenum veins intersected outboard of primary veins.
• Program Status:
  • Phase 1 focuses on five targets: No. 5 and No. 7 vein systems, Ima West vein, Eastern vein, and Main Ima vein.
  • Objective is to delineate historically identified tungsten vein systems and address low-risk targeted areas for expansion by the end of Q1 2026.
  • Next drill holes will fan southward from initial intercepts; access to the second drill station (200 ft north) is well advanced.
  • Samples submitted to ALS Minerals in Twin Falls, Idaho, in December 2025; assay results are pending.

Notable Quotes

• "The initial drill holes at the Ima project are highly promising for American Tungsten. While assay results are still pending, this early success is a testament to the expertise and dedication of our technical team. Their work is laying the groundwork to validate historical reserves and unlock new opportunities for growth. We are confident this momentum will continue to expand the project's potential and deliver lasting value for our shareholders," said Ali Haji, chief executive officer of American Tungsten.