American Tungsten Reports Results from Historical Tailings Drill Program

About this update from American Tungsten Corp.

Vancouver, British Columbia--(Newsfile Corp. - June 2, 2026) - American Tungsten Corp. (TSXV: TUNG) (OTCQB: TUNGF) (FSE: RK90) ("American Tungsten" or the "Company") announces results from a drilling program in the historical Lower Tailings Project at the Ima Mine site, Lemhi County, Idaho. Significant tungsten mineralization was intersected in all bore holes across the 30 acre historical tailings area. The Company's ongoing work is focused on establishing the historical tailings as a defined Mineral Resource, to support Reserve definition. American Tungsten is advancing its tailings opportunity with a disciplined focus in parallel with the required infrastructure development and ongoing work to support the restart of the IMA Mine. The Ima Tailings may represent a capital-efficient opportunity with reduced technical risk, and clear visibility to the production of a saleable tungsten concentrate."Our approach is deliberately strategic and capital disciplined. The Ima Tailings offer American Tungsten a clear opportunity to augment its resource base with comparatively low capital requirements and reduced technical risk. With process flowsheet development underway we are focused on building a practical, executable pathway to value creation, in parallel with the re-start of the Ima underground tungsten mine," commented Ali Haji, President of American Tungsten.Lower Tailings Project - Program Overview and Drill HighlightsLegacy tailings generated from historical mining operations conducted during the 1940s and 1950s contain significant tungsten mineralization, are unsaturated, and cover approximately 30 acres on private, patented land controlled by the company;Assay results of tailings samples average 0.152% WO₃ and 0.269 oz/t Ag, supporting the potential for eventual economic extraction of the tailings material;The hollow-stem auger drilling program completed in March was designed to validate and expand upon prior trench sampling that returned potentially economic tungsten and silver grades;The drill program consisted of 35 boreholes totaling approximately 320 feet, drilled on a systematic grid at approximately 200-foot spacing, providing representative coverage across the project;127 tailings samples were analyzed to evaluate grade distribution, continuity, and physical characteristics relevant to future resource definition and process flowsheet development;T...

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