Core Viewpoint - American Tungsten Corp. is advancing its exploration efforts at the IMA Mine, with the initiation of drilling activities and rehabilitation of mine levels, aiming to enhance productivity and identify new mineralization opportunities [2][5]. Drilling and Rehabilitation Progress - A second drill rig is now operational at the IMA Mine, with drilling activities underway on both the upper D-level and mid-Zero Level [1]. - The rehabilitation of approximately 325 feet of the Zero level has been completed, and a new drill station (DSZ-1) has been established [2]. - Drilling from DSZ-1 is designed to assess mineralization in the main IMA vein and test for additional parallel vein systems, with a total of 9 holes planned, amounting to 3,800 feet [2]. Future Drilling Plans - Additional drilling is planned from a second drill station on the Zero level, located approximately 720 feet beyond DSZ-1, with the potential for up to 10,000 feet in 15 holes [3]. - This drilling will target continuity of significant tungsten intercepts and broad zones of tungsten-molybdenum mineralization identified in historical sampling [3]. Historical Context and Production - The IMA Mine is a past-producing underground tungsten mine that operated between 1945 and 1957, producing approximately 199,449 metric tons of WO3 [8]. - The mine has been explored for molybdenum and tungsten by various operators from 1960 to 2010, and American Tungsten Corp. is currently assessing the potential for re-starting underground tungsten mining operations [8][10]. Company Overview - American Tungsten Corp. is focused on high-potential tungsten and magnetite assets in North America, with the IMA Mine Project being a historic and high-quality property situated on private-patented land [10]. - The company holds an exclusive option to acquire full ownership of the IMA Mine, subject to a 2% royalty, and has expanded its land position with 113 additional federal claims covering nearly 2,000 acres [10].

Dallas, Texas--(Newsfile Corp. - February 17, 2026) - American Tungsten Corp. (CSE: TUNG): Stonegate Capital Partners updates their coverage on American Tungsten Corp. (CSE: TUNG). In July 2025, the Company closed an upsized C$7.0M private placement (14.0M shares issued), strengthening the balance sheet for accelerated field execution. In a subsequent investor update, management highlighted that the upcoming restriction expiry on the July placement shares represents a mechanical unlock rather than increme ...

Core Viewpoint - Patriot Resources Corp. has entered into a binding letter of intent with Tungsten Eagle Development Corp. to pursue a definitive option agreement for the acquisition of mining claims in Nevada [1] Group 1: Transaction Details - The letter of intent (LOI) was dated January 29, 2026, and outlines the intention to enter into an option agreement [1] - The transaction involves the purchase of 269 contiguous unpatented Bureau of Land Management (BLM) lode mining claims located in Elko County, Nevada [1] - The mining claims are wholly owned by a subsidiary of Tungsten Eagle Development Corp. [1]

Core Viewpoint - Allied Critical Metals Inc. is launching a 20,000 meter drilling campaign at its Borralha Tungsten Project in Portugal, aimed at expanding high-grade tungsten mineralization and supporting economic studies [1][2]. Program Details & Objectives - The 2026 drilling program will include approximately 20,000 meters of core and reverse circulation drilling across multiple target zones within the Borralha property [2][8]. - The campaign will focus on expanding and upgrading the current Mineral Resource Estimate (MRE), testing extensions of the Santa Helena Breccia, and collecting material for advanced metallurgical test work [7][8]. - The program aims to generate data to support the anticipated Preliminary Economic Assessment (PEA) targeted for completion in Q1 2026 [7][8]. Strategic Importance - Tungsten is classified as a strategic critical material in the European Union and the United States, highlighting the importance of advancing the Borralha Project [2]. - The Borralha Project is considered one of the most compelling untapped tungsten assets in Western Europe, with confirmed bulk mineralization and higher-grade corridors suitable for future underground extraction [2][10]. Regulatory and Development Progress - The company has received key regulatory milestones that allow for the advancement of the Borralha Project through detailed engineering and permitting phases [3]. - Continued progress is anticipated alongside the 2026 drill campaign [3]. Market Context - The tungsten market is estimated to be valued at approximately USD 5 to 6 billion, with significant applications in defense, manufacturing, and energy sectors [11]. - Currently, China, Russia, and North Korea account for about 87% of the total global supply and reserves of tungsten [11].

Core Viewpoint - ONGold Resources Ltd. has engaged SRK Consulting to prepare an updated mineral resource estimate for gold and tungsten at the Monument Bay project, highlighting significant exploration potential and resource expansion opportunities [1][5][6]. Group 1: Project Overview - The Monument Bay project is located in northeastern Manitoba and features a 4.2 km strike length along the Twin Lakes Shear Zone, with over 233,000 meters drilled across more than 800 diamond core holes [1][3]. - Historical estimates indicate approximately 2.3 million gold ounces in the "Measured" and "Indicated" categories and 720,000 gold ounces in the "Inferred" category, based on a gold price of US$1,200 per ounce [3][15]. Group 2: Exploration and Drilling Activities - The main deposit has been tested by 615 holes totaling 172,147 meters, with significant potential for resource expansion as it remains open at depth and largely untested below 300 meters [2][5]. - A total of 41 drill holes were relogged in 2025, with additional drilling currently underway, including 59 historical drill holes totaling 18,000 meters not previously integrated into resource estimates [4][5]. Group 3: Assay Results and Resource Assessment - Recent assay results from the 2025 summer program show notable gold grades, including 14.59 g/t Au over 9.60 meters in the Lake Shoot and 1.94 g/t Au over 14.14 meters in the Simmons Shoot [4][10]. - The updated resource estimate will incorporate missing historical tungsten and gold assay results, enhancing the overall geological understanding of the deposit [5][6]. Group 4: Market Context and Economic Outlook - The current gold price exceeds US$4,800 per ounce, significantly improving the economic outlook for the Monument Bay project, especially with tungsten's designation as a critical mineral by multiple governments [5][8]. - The demand for tungsten is driven by ongoing geopolitical tensions, industrial manufacturing needs, and the clean energy transition, with over 80% of the world's tungsten supply sourced from China [11][8]. Group 5: Company Background - ONGold Resources Ltd. holds significant exploration assets in Northern Ontario and Manitoba, including the Monument Bay Gold-Tungsten Project, which is positioned in one of Canada's most prolific gold-producing regions [27].

Core Viewpoint - Almonty Industries Inc. has shown significant growth in its share prices, driven by a positive outlook for its tungsten business amid limited global supply [1] Company Developments - Almonty Industries plans to advance the Sangdong tungsten mine in South Korea towards full-scale phase 1 commercial operations, with a phase 2 expansion expected in 2027 [2] - Upon completion, the Sangdong mine is projected to produce 460,000 MTU annually, positioning it as one of the largest tungsten mines outside of China [3] Strategic Agreements - The company has secured binding hard floor offtake agreements, including long-term commitments to supply tungsten oxide for US defense applications, which enhances future revenue visibility and underscores the strategic value of its production [4]

Core Viewpoint - Jiaxin International Resources Investment is initiated with an OUTPERFORM rating and a target price of HK$95.00, reflecting strong growth potential in the tungsten mining sector, particularly in Kazakhstan [1]. Industry Overview - Global tungsten supply is expected to remain tight due to scarce resources and increasing production standards, with a projected CAGR of 2.4% in raw tungsten supply from 2023 to 2028 [1]. - Demand for tungsten is anticipated to grow at a CAGR of 2.7% over the same period, driven by emerging applications in photovoltaic tungsten wire, AI PCBs, and geopolitical tensions leading to strategic stockpiling [2]. Price Outlook - With structural deficits in supply and demand and low global inventories, average tungsten prices are expected to experience steady upward pressure [3]. Company Advantages - Jiaxin has four core advantages: 1. Abundant resources at the Boguty tungsten mine, characterized by large reserves and low operating costs [4]. 2. Strategic location in Kazakhstan, benefiting from favorable transport links and the China-Kazakhstan partnership [4]. 3. A sound management mechanism with a mixed-ownership structure and experienced team [4]. 4. Strong growth potential in capacity expansion and resource development [4]. Financial Projections - EPS forecasts are HK$0.63 in 2025, HK$4.18 in 2026, and HK$6.56 in 2027, indicating a CAGR of 221.6%. Net profit attributable to shareholders is projected at Rmb0.26 billion in 2025, Rmb1.72 billion in 2026, and Rmb2.63 billion in 2027 [5]. - The stock is currently trading at 16.5x and 10.5x 2026e and 2027e P/E, with a target price offering a 38% upside [5].

Core Viewpoint - American Tungsten Corp. reports high-grade tungsten-silver assay results from the IMA Mine, indicating significant mineralization and potential for project expansion [1][2]. Exploration Sampling Highlights - The company is nearing completion of its drilling program, with initial assay results reinforcing the strength of the IMA Mine project [2]. - Recent assay results from underground channel sampling and surface sampling highlight the scale and continuity of mineralization across the property [2]. Sampling Methodology and Results - Fifteen underground channel samples were collected from the No. 5 vein drift, primarily to validate historical sampling conducted in 1979 [3]. - Tungsten-bearing quartz veins are variably mineralized with hubnerite, scheelite, tetrahedrite, galena, sphalerite, and chalcopyrite [3]. - Samples were submitted for assay to ALS Global in Twin Falls, Idaho, in November 2025 [3]. Individual Sample Results - Samples from the No. 5 vein show elevated levels of tungsten, silver, copper, zinc, and lead [4]. - The average results from underground samples indicate 1.04% WO3 and 2.70 oz/t Ag over an average width of 5.0 ft [7]. Surface Sampling Results - Surficial rock chip sampling identified tungsten-silver mineralization in quartz veins exposed at the surface, with significant results including 0.256% WO3 and 0.64 oz/t Ag over 10 ft [8]. - Historical tailings from past mining activities contain an estimated 222,000 cubic yards, with preliminary sampling averaging 0.235% WO3 and 0.45 oz/t Ag [9]. About the IMA Mine - The IMA Mine is a past-producing underground tungsten mine located in East Central Idaho, with historical production of approximately 199,449 MTUs of WO3 between 1945 and 1957 [14]. - The company is currently conducting an exploration drill program to assess the potential for restarting underground tungsten mining operations at the IMA Mine [14]. Quality Assurance and Sample Analysis - The company's QA/QC program applies industry-standard best practices to ensure data quality and integrity for the IMA Mine project [15]. - Samples were analyzed by ALS Minerals in Vancouver, BC, using various methods including ICP-MS and fire assay [16].

Core Viewpoint - Almonty Industries is positioned to become a leading supplier of tungsten, focusing on establishing a secure supply chain for the U.S. and its allies, particularly through the Sangdong Tungsten Mine, which is set to begin active mining operations in December 2025 [1][3][20]. Company Developments - The Sangdong Tungsten Mine in South Korea transitioned from construction to production in December 2025, marking a significant milestone for the company [3]. - Almonty has secured binding offtake agreements for tungsten oxide, particularly for U.S. defense applications, enhancing revenue visibility [3]. - The company has expanded its geographic footprint by acquiring 100% ownership of the Gentung Browns Lake Tungsten Project in Montana, aligning with U.S. policy to reshore critical mineral supply chains [9][10]. Market Opportunity - The tungsten market is experiencing a critical supply gap due to China's export restrictions, with tungsten prices increasing over 160% in 2025 [5]. - Tungsten is recognized as a critical strategic metal essential for defense and advanced technology sectors, with Almonty being the largest Western-aligned tungsten producer [6][20]. Financial Highlights - In 2025, Almonty entered the U.S. capital markets, raising approximately US$90 million through an oversubscribed IPO and an additional US$129.4 million in a follow-up offering [11]. - The company has a fully capitalized balance sheet to support exploration and development initiatives [11]. Leadership and Management - Almonty has strengthened its executive team with experienced leaders from various sectors, enhancing its operational and strategic capabilities [12][13][14]. Future Outlook - The company aims to advance toward full-scale commercial operations at the Sangdong Tungsten Mine and commence Phase II expansion by 2027, potentially increasing production capacity to 1.2 million tons per annum [15]. - Ongoing drilling programs at the Panasqueira Mine and the Sangdong Molybdenum Project are expected to define future development pathways and increase annual output [16][17].

Core Viewpoint - American Tungsten Corp. is advancing its underground drill program at the IMA mine, having completed 2,120 feet of drilling across six holes, with a focus on resource expansion and becoming the first tungsten producer in the United States [1][3]. Drill Program Highlights - The initial drillholes at the IMA Project are intersecting the vein system along the strike of historical resources, reinforcing the geological model [3]. - The Phase 1 drill program targets five priority exploration areas, including the No. 5 and No. 7 Vein systems, aiming to delineate historically identified tungsten vein systems by the end of Q1 2026 [5]. Drilling Progress - Drilling has intersected quartz veins with hubnerite mineralization over an area of 400 feet along strike and 250 feet up-dip from the D-level [7]. - An additional 3,850 feet of drilling is planned across nine holes from the second and third D-Level drilling stations as part of the Phase 1 Program [7]. IMA Mine Overview - The IMA Mine is a past-producing underground tungsten mine located in East Central Idaho, which produced approximately 199,449 MTUs of WO3 between 1945 and 1957 [4]. - The company is currently assessing the potential for re-starting underground tungsten mining operations at the IMA Mine [4]. Company Background - American Tungsten Corp. is focused on high-potential tungsten and magnetite assets in North America, with the IMA Mine Project being a historic and high-quality property on private-patented land [15]. - The company holds an exclusive option to acquire full ownership of the IMA Mine, subject to a 2% royalty, and has expanded its land position with 113 additional federal claims covering nearly 2,000 acres [15].