American Tungsten Initiates Drilling on Zero Level of IMA Mine, Second Drill Rig Now in Operation

Executive Summary

• A second drill rig is now operating at the IMA Mine, advancing Phase 1 of the underground drilling program.
• Approximately 325 ft of the Zero level has been rehabilitated and a new drill station (DSZ‑1) established; up to 10,000 ft of additional drilling are planned from a second station.
• To date, over 4,200 ft of drilling have been completed on the D level plus 3,800 ft designed from DSZ‑1, with further holes and underground development in progress.

Key Details

• Second drill rig deployment: Operating on both upper D‑level and mid‑Zero Level, increasing drilling capacity.
• Zero level rehabilitation: ~325 ft rehabilitated; new drill station DSZ‑1 set up 120 ft NE of existing work.
• Drilling equipment: Sandvik DE130 with NQ rods, contracted to Rockhead Consulting LLC.
• Current drill program from DSZ‑1: 9 holes totaling ~3,800 ft targeting the main IMA vein above Zero level and a parallel northeast vein system.
• Planned second Zero‑level station: Located ~720 ft beyond DSZ‑1; up to 10,000 ft in 15 holes to test continuity of historic tungsten intercepts and broader tungsten‑molybdenum zones.
• D‑level drilling status (since Dec 2025): >4,200 ft completed in 11 holes from new stations in foot wall of No. 5 & No. 7 vein systems; additional 6 holes (~2,200 ft) planned.
• Underground development: ~335 linear ft of new drifts completed; drifts now within 70 ft of third drill station.
• Historical context: IMA Mine produced ~199,449 MTU WO₃ (1945‑1957); prior exploration for tungsten and molybdenum (1960‑2010).
• Qualified Person: Austin Zinsser, P.G., SME‑RM, VP Exploration, reviewed and approved technical information per NI 43‑101.

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,” – Ali Haji, CEO, American Tungsten Corp.