American Tungsten to resume rehab work at Zero level

Mr. Ali Haji reports AMERICAN TUNGSTEN PROVIDES OPERATIONAL UPDATE ON ITS IMA MINE REHABILITATION AND PROPOSED DIAMOND DRILL PROGRAM American Tungsten Corp. has shared continued progress on its rehabilitation efforts at the Ima mine in Patterson, Idaho, with new operational milestones achieved during the week ended Oct. 31, 2025. Following the company's recent successful close of its non-brokered LIFE (listed issuer financing exemption) financing, the scope of the first phase of drilling will now be expanded to include targeted diamond drill positions at the Zero level. In the first phase of diamond drilling, this will increase the original drill program of approximately 5,400 feet to over 10,000 feet at five planned stations (originally three) spread between both the D-level and Zero-level drifts. Furthermore, the company's drilling and services contractor plans to double-shift its schedule to expedite these efforts through the end of the year. It is expected that the start of the company's first phase of drilling will occur before the end of November. Additional Ima mine work progress and updates are as follows. Laying the foundation: Access roads and switchbacks to access both the D level and Zero level have been further improved and all services have now been installed to support the company's underground excavation work and diamond drill program. The company's core shed is in the process of being equipped and readied with additional staff hired to support future core sampling and assaying activities. The company will be contracting Minetech USA LLC, a private engineering firm based in Butte, Mont., which will provide mine planning and geotechnical engineering expertise to the company's tungsten development plans. D-level progress: Approximately 1,100 feet of underground access drift has now been rehabilitated to the initial crosscut location that will support the first phase of diamond drilling. Excavation of the new access drift has already commenced toward the first diamond drill station and is approximately 25 per cent complete (approximately 48 feet), with approximately 138 feet of excavation remaining. An underground rig has been secured for drill activities planned at the D level and is now on the property. Office and storage facilities are now in place at the base of the canyon, and additional personnel have been procured to support the coming drill program scheduled for November. The D-level surface portal area has been finalized to include a small container office, generator, water storage and a laydown area for materials. Zero-level progress: The company has decided to immediately resume rehabilitation efforts at the Zero level in order to support an expanded first phase of diamond drilling (with plans to set up two drill stations at the Zero level). The contractor has now further progressed rehabilitating the Zero-level access drift to remove and resupport the remaining blockages (located approximately 125 feet from the portal entrance), and this work should be completed in the next two weeks. The contractor has now sourced and secured a second diamond drill rig that will support the drill activities planned at the Zero level. "Our team continues to lay a solid operational foundation for the Ima mine ahead of our planned diamond drilling program in November," stated Ali Haji, chief executive officer of American Tungsten. "Accelerating our drilling program will put the company in a stronger position for its development and production efforts in the lead-up to 2026. Additionally, following China's announcement this week of further export controls on tungsten until 2027, American Tungsten is well placed to become the domestic supplier of this critical mineral as we continue to plan for full-scale production." American Tungsten intends to provide continual operational updates as rehabilitation and exploratory drilling progresses at its Ima mine site location. 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.