Announces Changes to Board of Directors
American Tungsten Corp. Announces Changes to Board of
Directors
Vancouver, BC, May 5, 2025 – American Tungsten Corp. (CSE:TUNG) (OTCQB:DEMRF)
(FSE:RK9) (“American Tungsten” or the “Company”) announces today the appointment of Dan
Nicholas to the Board of Directors of the Company (the “Board”), and the resignation of Dhanbir
Jaswal from the Board. The Board extends its sincere appreciation to Mr. Jaswal for his dedicated
services and valuable contributions during his tenure with the Company and wishes him well in
his future endeavours.
Mr. Nicholas is currently a Senior Advisor to Ernst & Young (“EY”). He joined EY in early 2021
to assist EY and its clients in obtaining funding from US federal government sources. Mr. Nicholas
advises EY clients in navigating the numerous sources of capital that are available through federal
government programs and grant funding opportunities. Prior to joining EY, he was responsible for
the USD$40 billion investment portfolio of the United States Department of Energy’s (the “DOE”)
Loan Program Office ( “LPO”) – including both the Advanced Technology Vehicles
Manufacturing Loan program ( “ATVM”) and the Title XVll program. At LPO , Mr. Nicholas
oversaw and structured investments in energy, infrastructure, and transportation sectors.
Before accepting his appointment to the DOE, Mr. Nicholas had an over 30-year career in finance,
at several firms including Morgan Stanley, Pali Capital, and Salomon Brothers, Inc. At Morgan
Stanley, he launched several flagship funds for Morgan Stanley’s Investment Management’s
Private Equity and Credit group. He has also worked as a public company Chief Financial Officer
for several portfolio companies. Mr. Nicholas is a graduate of Cornell University, and he and his
family split their time between New York City and Washington, DC.
“We are very pleased to welcome Dan to the Board. He holds a strong track-record and possesses
extensive knowledge and experience in capital markets and government policy, and his expertise
will be invaluable to the Company as we seek to advance our tungsten project, the IMA Mine in
Idaho,” said Ali Haji, CEO of American Tungsten.
The Company is also pleased to announce in accordance with CSE policies, that it has entered into
a marketing agreement with an arm’s length firm, Alpha Collective Inc. (“Alpha”) to provide,
among other things, digital marketing services. In consideration for these services, Alpha will be
paid a cash fee of $30,000 for a three-month term commencing May 1, 2025.
ABOUT AMERICAN TUNGSTEN CORP.
American Tungsten Corp. (previously Demesne Resources Inc.) is a Canadian -based company
involved in the acquisition and exploration of magnetite mineral properties. The Company's Star
Project consists of five contiguous mineral titles covering an area of approximately 4,615.75
hectares located in the Skeena Mining Division, British Co lumbia, Canada. The Company has
entered into an option agreement pursuant to which it is entitled to earn an undivided 100% interest
in the Star Project. American Tungsten has also entered into an option agreement, pursuant to
which it can acquire a 100% interest (subject to a 2% royalty) in and to the IMA Mine Project, a
past producing underground tungsten mine situated on 22 patented claims located in East Central,
Idaho, United States. In addition, the Company has acquired surrounding mining rights at its IMA
Mine Project through the staking of 113 WMO federal lode mining claims covering an area of
1,988.6 acres (804.75ha).
Social media links:
LinkedIn: https://www.linkedin.com/company/americantungstencorp/
X: https://x.com/amtungsten
Facebook: https://www.facebook.com/americantungstencorp/
Instagram: https://www.instagram.com/americantungstencorp/
YouTube: https://www.youtube.com/@americantungstencorp
ON BEHALF OF THE BOARD OF DIRECTORS:
Ali Haji
Chief Executive Officer
1055 West Georgia Street, Suite 1500
Vancouver, BC V6E 0B6
Canada
For further information, please contact:
Ali Haji, Chief Executive Officer
Email: [email protected]
Phone: +1 (647) 871-4571
CSE:TUNG
OTCQB:DEMRF
FSE:RK9
The Canadian Securities Exchange does not accept responsibility for the adequacy or accuracy of
this release and has neither approved nor disapproved the contents of this press release.
This news release includes certain statements that may be deemed “forward -looking
statements”. All statements in this news release, other than statements of historical facts, that
address events or developments that the Company expects to occur, are forward-looking
statements. Forward -looking statements are statements that are not historical facts and are
generally, but not always, identified by the words “believes”, “expects”, “plans”, “anticipates”,
“intends”, “estimates”, “projects”, “potential” and simi lar expressions, or that events or
conditions “will”, “would”, “may”, “could” or “should” occur. Although the Company believes
the expectations expressed in such forward -looking statements are based on reasonable
assumptions, such statements are not guarantees of future performance and actual results may
differ materially from those in the forward -looking statements. Forward looking statements in
this news release include statements respecting: (i) the IMA Mine Project and the mineral
prospects thereon, (ii) the Company's performance of its obligations under the Option
Agreement, and the exercise of the option thereunder, and (iii) the Company's planned activities
on the IMA Mine Project. Factors that could cause the actual results to differ materially from
those in forward-looking statements include the receipt of regulatory approvals, market prices,
continued availability of capital and financing, and general economic, market or busine ss
conditions. Investors are cautioned that any such statements are not guarantees of future
performance and actual results or developments may differ materially from those projected in
the forward-looking statements. Forward-looking statements are based on the beliefs, estimates
and opinions of the Company’s management on the date the statements are made. Except as
required by applicable securities laws, the Company undertakes no obligation to update these
forward-looking statements in the event that manag ement's beliefs, estimates or opinions, or
other factors, should change.