Completion of Updated Feasibility Study

05 August 2025

Tungsten West Plc

("Tungsten West", the "Company" or the "Group")

Completion of Updated Feasibility Study

Tungsten West (LON:TUN), the mining company focused on restarting production at the Hemerdon tungsten and tin mine ("Hemerdon" or the "Project") in Devon, UK, is pleased to announce the completion of its updated Feasibility Study (the "Study") for Hemerdon. An executive summary of the Feasibility Study is available on the Company's website via the following link: www.tungstenwest.com/technicalreports

The Company announced on 30 May 2025 a preview of the Project's economics. These remain unchanged with an IRR of 29% and an NPV_7.5% of US$190 million using a Tungsten price of US$400 per Metric Tonne Unit (65% ammonium paratungstate, ("APT"), free on-board Rotterdam).

The Company will be hosting a live investor presentation in September, further details will follow in due course.

Jeff Court, CEO of Tungsten West, commented:

"The conclusion of this Feasibility Study marks a highly significant milestone for Tungsten West as we now formally commence our fundraising efforts. The Study further emphasises the strong economics of the Project, fully supported by its strong technical, environmental, community and stakeholder facets. The Study also further underlines Hemerdon's global critical minerals supply credentials.

"I would like to sincerely thank the entire team, including our employees and consultants for their extremely hard work to complete this Study. In addition, I would also like to thank our shareholders and financial supporters for their continued dedication and belief in our Project."

Ends

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