American Tungsten completes D level rehab work at Ima

Executive Summary

• American Tungsten Corp. has completed rehabilitation work on the D level adit at its Ima mine and is preparing for underground diamond drilling, with mobilization expected and drilling commencing in mid-November 2025.
• The company has initiated preliminary discussions and technical evaluations to transition from a Direct Shipping Ore (DSO) model to full-scale on-site milling, receiving a metallurgical testwork proposal from WSP.
• The company is validating historical data through check assays of 2008 Gentor Resources samples and initiating an underground channel sampling program on the No. 5 and No. 7 vein systems.

Key Details

• Underground Rehabilitation & Drilling:
  • Approximately 1,000 feet of the D level have been rehabilitated, including portal stabilization, track removal, scaling, and installation of water and air lines.
  • Excavation of crosscuts to establish underground drill stations is underway.
  • Rockhead Consulting LLC was awarded the underground drilling contract for an initial 5,000 feet of diamond drilling.
  • Mobilization of the diamond drill rig is in progress; drilling is expected to commence in mid-November.
• Milling Transition & Flowsheet Development:
  • Preliminary discussions are underway to assess the transition from a DSO model to full-scale on-site milling.
  • WSP provided a metallurgical testwork proposal and summary report for a conceptual processing system.
  • The flowsheet development program includes:
    • Metallurgical Testwork: Comminution testwork; recovery of tungsten by gravity methods (Knelson concentrators, jigging, spirals, HMS, etc.); sulphide and tungsten flotation; and application of X-ray sorting technology.
    • Initial Engineering: Preliminary mass balance calculations; development of a preliminary process flow diagram (PFD); compilation of a preliminary equipment list; estimation of preliminary process-related capital expenditures (capex); and technical reporting.
  • Future phases may include additional testing, piloting to validate recovery and grade assumptions, and detailed engineering for the proposed onsite processing facility.
• Historical Data Validation:
  • Inventory and repackaging of analytical pulps and rejects from the 2008 Gentor Resources drill program has been completed.
  • Select samples are being submitted for check assays to validate historical results.
  • An underground channel sampling program has been initiated to confirm historical results from the No. 5 and No. 7 vein systems.

Notable Quotes

• "We remain on track to commence diamond drilling in November, 2025. This program is designed to validate and expand upon historical high-grade intercepts through systematic underground drilling. The shift in our development plan -- from a DSO model to establishing our own mill on site -- reflects our commitment to unlocking greater long-term value. The flowsheet program outlined by WSP will be a critical step in that journey, laying the technical foundation for engineering, economic modelling and full-scale production." — Ali Haji, Chief Executive Officer