Mr. Murray Nye reports

DEMESNE RESOURCES ANNOUNCES NAME CHANGE TO "AMERICAN TUNGSTEN CORP." AND TICKER SYMBOL UPDATE & CONGRATULATES PRESIDENT TRUMP ON INAUGURATION, ALIGNS MISSION WITH AMERICA FIRST AGENDA

Demesne Resources Ltd. will change its name to American Tungsten Corp. and its ticker symbol on the Canadian Securities Exchange to TUNG. The name change was approved by the board of directors for the company in accordance with the Business Corporations Act (British Columbia) and the company's articles of incorporation.

Subject to confirmation by the CSE, effective at the open of markets on or about Jan. 23, 2025, the common shares of the company will commence trading under the new name and symbol under Cusip No. 030338107 and ISIN CA0303381077.

The company anticipates no interruptions to its trading activities as part of this change. Shareholders are not required to take any action concerning the name and ticker symbol change, which will be automatically updated on all relevant trading platforms.

Expanding U.S. tungsten production to meet strategic priorities

The IMA mine is a past-producing underground tungsten mine situated on 22 patented claims located in eastern-central Idaho. Between 1945 and 1957, the property produced approximately 199,449 million thermal units of WO3 (tungsten trioxide) and was subsequently explored for molybdenum and tungsten by various operators between 1960 and 2008.

The IMA mine is positioned at the forefront of the company's efforts to secure a domestic supply of this critical metal. By revitalizing American tungsten production, the company directly supports the new administration's goals of:

• National security -- reducing reliance on foreign sources for defence-critical materials;
• Economic growth -- creating high-paying jobs in key mining regions and revitalizing U.S. industrial sectors;
• Self-reliance -- ensuring supply chain stability amidst geopolitical tensions and export restrictions.

The name change will seek to better align the company with its long-term strategic direction and operations and further underscores the company's focus and dedication to bring onshore tungsten mining and production capabilities into the United States.

The company's commitment to onshoring tungsten production aligns with the inauguration of President Donald J. Trump and his America First vision, emphasizing U.S. self-reliance, economic resilience and national security. Tungsten is indispensable in defence, aerospace and high-technology applications, yet the U.S. remains heavily dependent on imports, particularly from China, which recently banned tungsten exports, escalating global supply concerns.

"With a pivotal change in administration in the United States now upon us, now is the right time to execute on our strategic rebranding. Rebranding to American Tungsten Corp. reflects our deep commitment to supporting America's strategic priorities. On behalf of our team, I extend our congratulations to President Trump on his inauguration," said Murray Nye, chief executive officer of Demesne Resources. "Our tungsten project in Idaho positions us to play a vital role in bolstering the U.S. supply chain for this indispensable metal, strengthening the country's economic and national security."

About Demesne Resources Ltd.

Demesne Resources is a British Columbia based company involved in the acquisition and exploration of magnetite mineral properties. The company's Star project consists of five contiguous mineral titles covering an area of approximately 4,615.75 hectares located in the Skeena mining division in British Columbia, Canada. The company has entered into an option agreement, pursuant to which it is entitled to earn an undivided 100-per-cent interest in the Star project. Demesne has also entered into an option agreement, pursuant to which it can acquire a 100-per-cent interest (subject to a 2-per-cent royalty) in and to the IMA mine project, a past-producing underground tungsten mine situated on 22 patented claims located in eastern-central Idaho, United States.

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