Potential Partnership with Contact Mining Company
American Tungsten Corp. Announces Potential Partnership for
Processing & Milling in Philipsburg, Montana
Vancouver, BC, February 18, 2025 – American Tungsten Corp. (CSE:TUNG)
(OTCQB:DEMRF) (FSE:RK9) (“American Tungsten ” or the “ Company”) is pleased to
announce that it has entered into a non-binding letter of availability (the “ LOA”) with Contact
Mining Company (“ Contact Mining”) to potentially process a nd mill the Company’s tungsten
mineralized material at the Contact Mill in Philipsburg, Montana.
The Contact Mill has a 1,000 ton per day milling capacity and a Knelson Gravity Concentrator for
minerals that respond to gravity separation, such as scheelite and hubnerite tungsten bearing phases
characteristic of IMA Mi ne mineralization. The mill is also equipped with dual flotation circuits
to produce various sulfide concen trates. Historically, the IMA Mi ne utilized co mbined gravity-
concentration, flotation and ma gnetic-separation circuits to produce a tungsten concentrate
averaging 66-67% WO3 and a argentiferous sulfide concentrate(1).
The LOA represents a significant milestone for American Tungste n’s plans to onshore tungsten
production capabilities in the United States through its IMA Mine project and further strengthens
the Company’s national footprint and processing capabilities. The Company plans to undertake
engineering trade off studies a nd metallurgical testing to a ssess the technica l and economic
feasibility of off-site processing at the Contact Mill.
“We are excited to partner with Contact Mining,” said Murray Nye, CEO of American Tungsten.
“Joining forces with Contact Mining is a trem endous opportunity for us and marks an important
milestone for our efforts to build out a full, end- to-end supply process for tungsten in the United
States.”
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).
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 t itles covering an area of approximately 4,615.75
1 US Bureau of Mines, 1943., Methods and Costs of Concentrating Hubnerite Ores at the IMA Tungsten Mine, Lemhi Co, Idaho, Information
Circular C. 7230,
2 Bradley Mining Company, 1958; Summarized Information on IMA Mine, Lemhi Co, Patterson, Idaho. Company Report, 6p.
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.
Social media links:
LinkedIn: https://www.linkedin.com/company/americantungstencorp/
X: https://x.com/amtungsten
Facebook: https://www.facebook.com/americantungsten
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. Technical information regarding
the Contact Mill was provided by Contact Mining.