American Tungsten plans $10 million private placement at $3.50 per share

American Tungsten Corp. (CSE: TUNG) (OTCQB: TUNGF) announced plans to raise up to $10 million through a non-brokered private placement offering. The company will issue up to 2.86 million common shares at $3.50 per share.

The offering will be conducted under the Listed Issuer Financing Exemption pursuant to National Instrument 45-106. Securities issued will not be subject to a hold period under Canadian securities laws. The offering requires approval from the Canadian Securities Exchange.

"This financing reflects the strong institutional demand for exposure to critical metals and American Tungsten's unique position in the domestic supply chain," stated Ali Haji, CEO of American Tungsten.

The company plans to use proceeds to expand exploration programs at the IMA Mine in Idaho, accelerate technical studies, and provide additional working capital. American Tungsten holds an exclusive option to acquire full ownership of the historic tungsten mine property, subject to a 2% royalty, and has expanded its land position with 113 federal claims covering nearly 2,000 acres.

The Vancouver-based exploration company focuses on tungsten and magnetite assets in North America and is working to advance the Ima Mine Project to commercial production. The property is located on private-patented land above the water table with existing infrastructure.

American Tungsten will present at the GCFF Annual Wealth Conference on October 18, 2025, at the Sheraton Parkway Toronto North Hotel & Suites in Richmond Hill, Ontario.

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