Business
American Tungsten Announces Strategic Investment in Viking Mines
American Tungsten Announces Strategic Investment in Viking Mines.
About this update from American Tungsten Corp.
[{"type":"text","content":"\r\n\r\n \r\n \r\n American Tungsten Announces Strategic Investment in Viking Mines\r\n \r\n \r\n\r\n\r\nAmerican Tungsten Announces Strategic Investment in Viking Mines\r\n\r\n\r\n\r\nNewsfile Corp.\r\n\r\n\r\nNewsfile Corp\r\n\r\n\r\nVancouver, British Columbia--(Newsfile Corp. - December 16, 2025) - American Tungsten Corp. (CSE: TUNG) (OTCQB: TUNGF) (FSE: RK90) (\"American Tungsten\" or the \"Company\") announces that it has entered into a letter of offer agreement (the \"Letter Agreement\") with GTT Ventures Pty Ltd and Viking Mines Limited (\"VKA\"). Under the terms of the Letter Agreement, American Tungsten will subscribe for 150,000,000 ordinary shares in VKA at a price of AUD$0.005 per share, representing an investment of AUD$750,000.\r\nVKA intends to use the proceeds from its planned AUD$3.8 million placement to acquire a 100% interest in a portfolio of six tungsten projects in Nevada, USA. Historical production from these properties is reported at approximately 123,000 tons, at an average grade of 0.54% WO₃. The financing is expected to close in February 2026 after VKA shareholder approval is obtained.\r\n\"This strategic cornerstone investment in Viking Mines strengthens our ability to build a meaningful U.S.-based tungsten platform. With tungsten's outlook at historic highs and secure Western supply more critical than ever, this investment directly complements our existing footprint at the IMA Tungsten Mine. Together, these assets create clear alignment across exploration, resource growth, and the development of future domestic supply,\" said Ali Haji, CEO of American Tungsten Corp.\r\nAbout VKA Mines\r\nViking Mines Ltd (ASX: VKA) is an Australian-listed exploration and development company focused on building a portfolio of high-value mineral projects. The Company recently expanded into the United States through the acquisition of six tungsten projects in Nevada, a Tier-1 mining jurisdiction with a rich history of critical mineral production.\r\nABOUT THE IMA MINE\r\nThe IMA Mine is a past producing underground tungsten mine situated on 22 patented claims located in East Central Idaho. Between 1945 and 1957, the property produced approximately 199,449 MTUs of WO3 and was subsequently explored for molybdenum and tungsten by various operators between 1960-2010.\r\nAmerican Tungsten Corp is currently conducting...