Western Star Resources Announces Closing of Oversubscribed Private Placement and Appointment of Director

About this update from Western Star Resources, Inc.

[{"type":"text","content":"Vancouver, British Columbia, May 12th, 2026 - TheNewswire - Western Star Resources Inc. (CSE: WSR) (OTC: WSRIF) (4K2: FRA) (the “Company” or “Western Star”) announces that, further to its news release of April 16, 2026,  it has closed its non-brokered private placement and raised $3,193,713 through the issuance of 6,387,426 units (the “Units”) at a price of $0.50 per Unit. Each Unit is comprised of one common share and one-half of one share purchase warrant (a “Warrant”) with each whole Warrant entitling the holder to purchase one common share at a price of $0.75 per warrant share expiring May 11, 2028. The Company paid finders fees of $99,175 and issued 255,950 finder warrants at a price of $0.75 for period of two years expiring May 11, 2028. All securities issued are subject to a four month hold period expiring September 12, 2026. The Company intends to use the net proceeds for the phase 1 and 2 drill programs on the past producing Tungsten asset, the Rowland Property, completion of its critical metals move into Nevada/America, general working capital and market awareness. The Private Placement remains subject to certain conditions including, but not limited to, receipt of all necessary approvals including the approval of the Canadian Securities Exchange. The Company is also pleased to announce that, further to its news release of May 1, 2026, it has closed its flow through private placement and issued 833,334 flow through shares (the “FT Shares”) at a price of $0.60 per FT Share for total proceeds of $500,000 (the “FT Offering”). The Company also paid commission of $25,000 and issued 58,333 finder warrants at a price of $0.60 for a period of two years expiring May 11, 2028. All FT Shares and finder warrants are subject to a four month hold period expiring September 12, 2026. The gross proceeds received by the Company from the FT Offering will be used to incur eligible “Canadian exploration expenses” (“CEE”) that are “flow-through mining expenditures” (as such term is defined in the Income Tax Act (Canada)) related to the Company’s Western Star Project and will be used as deemed appropriate for qualifying expenses for the critical mineral tax credit (CMETC). Blake Morgan, President and CEO of Western Star Resources, remarked: I am pleased by the significant interest in our recent private placement. With over $6,000,0...

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