Joins U.S. Defense Industrial Base Consortium
American Tungsten Corp. Joins U.S. Defense Industrial Base
Consortium
Vancouver, BC, March 4, 2025 – American Tungsten Corp. (CSE:TUNG) (OTCQB:DEMRF)
(FSE:RK9) (“American Tungsten ” or the “ Company”) is pleased to announce that the
Company’s application to the U.S. Defe nse Industrial Base Consortium (the “ DIBC”) has been
approved. The DIBC is managed by Advanced Technology International (“ATI”) on behalf of the
U.S. Department of Defense (the “ DoD”). The DIBC aims to expand and diversify the defense
industrial base in the U.S., enable private-sector businesses to work in partnership with the U.S.
Government, provide non-dilutive financing for key contractors, and provide the U.S. Government
access to commercial solutions for defense requirements.
Critical metals, including tungsten, are considered essential fo r the U.S. defense industrial base,
and the U.S. Government is engaged in strategic planning, initiatives, and funding to ensure it can
access and onshore domestic production capabilities and supply.
Recently, U.S. Government agencies, including the DoD, and Canadian Government agencies
have awarded funding to advance North American tungsten projects. In December 2024, Fireweed
Metals Corp. (TSXV:FWZ) was awarded US$15.8 million from the DoD and C$12.9 million from
the Government of Canada to support its criti cal minerals projects at Macmillan Pass, Yukon
Territory(1).
American Tungsten has engaged with the DoD in connection with advancing its flagship tungsten
project in Idaho, U.S., the IMA Mine, and ex ploring potential non-dilutive financing awards.
Tungsten is classified as a critical mineral by the U.S. government, owing to its use in high-strength
applications such as defense, aerospace, mining, and high-performance industrial manufacturing.
Recognizing tungsten as a critical metal in need of domestic sources, the DoD directed American
Tungsten to join the DIBC to move ahead with further discussions and opportunities.
“We are excited to have been accepted by DI BC and see obtaining our membership as a key
milestone in our path to advanc ing our Company’s strategic initiatives,” said Murray Nye, CEO
of American Tungsten. “We believe that our flagship tungsten project, the IMA Mine, represents
a strong opportunity for the DoD to quickly on shore domestic production capabilities of this
critical metal, and we look forward to continuing our discussions.”
The IMA Mine is a past produci ng underground tungsten mine situ ated on 22 patented claims
located in East Central Idaho. Between 1945 and 1957, the property pr oduced approximately
199,449 MTUs of WO3 and was subsequently explored for molybdenum and tungsten by various
operators between 1960-2008(2).
1 https://fireweedmetals.com/fireweed-metals-corp-awarded-up-to-c35-4-m-in-joint-us-canadian-government-funding-to-advance-mactung-and-
essential-infrastructure-to-unlock-the-critical-minerals-district-at-macmillan-pass-yukon-t/
2 Bradley Mining Company, 1958; Summarized Information on IMA Mine, Lemhi Co, Patterson, Idaho. Company Report, 6p.
ABOUT AMERICAN TUNGSTEN CORP.
American Tungsten Corp. (previously Demesne Re sources Inc.) is a Ca nadian-based company
involved in the acquisition and e xploration 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 Columbia, 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 federa l lode mining claims co vering 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:
Murray Nye
CEO
1055 West Georgia Street, Suite 1500
Vancouver, BC V6E 0B6
Canada
For further information, please contact:
Murray Nye, CEO
Email: [email protected]
Phone: +1 (416) 300-7398
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 statem ents 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 Com pany expects to occur, are forward-looking
statements. Forward-looking stat ements are statements that ar e not historical facts and are
generally, but not always, identified by the words “believes”, “expects”, “plans”, “anticipates”,
“intends”, “estimates”, “projects”, “potential” an d similar 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-look ing statements. Forward looking statements in
this news release include statements respectin g: (i) the IMA Mine Project and the mineral
prospects thereon, (ii) the Company's perfor mance 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 business
conditions. Investors are cautioned that any such statements are not guarantees of future
performance and actual results or developments ma y 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 securiti es laws, the Company undertakes no obligation to update these
forward-looking statements in the event that management's beli efs, estimates or opinions, or
other factors, should change.
Technical information in this news release has been prepared in accordance with Canadian
regulatory requirements set out in National In strument 43-101 — Standards of Disclosure for
Mineral Projects (“NI-43-101”). Austin Zinsser, P.G., SME-RM, Vice President, Exploration
for the Company, and a Qualified Person as defined by NI-43-101, has reviewed and approved
the scientific and technical information in this Presentation.