Mr. Ali Haji reports

AMERICAN TUNGSTEN ADVANCES UNDERGROUND DRILL PROGRAM AT IMA MINE

American Tungsten Corp. has provided an update on advancing the underground drill program at the IMA mine. To date, 2,120 feet of drilling across six holes has been completed.

Drill program highlights: at the first D level drill station to be completed:

• 2,120 feet across six holes completed since early December, with the final hole from the first D level drill station now under way;
• Drilling continues to intersect quartz veins with hubnerite (MnWO4) mineralization; vein intersections occur over an area 400 feet along strike and 250 feet updip from the D level;
• Drift to the second D level drill station completed; the rig will be moved after AT25-07, which will test the updip extension;
• An additional 3,850 feet of drilling planned across nine holes from the second and third D level drilling stations as part of the phase 1 program;
• Underground rehabilitation advancing on both, the upper D level and the zero level, to support continuing drilling activity;
• Zero level drill program expanded from 6,700 to 8,000 feet with the addition of a new drill station for phase I and II programs.

"The initial drill holes at the IMA project are successfully intersecting the vein system along strike of historical resources. While assay results are still pending, these early intersections reinforce the geological model and validate our disciplined, phased approach to resource expansion. Phase 1 is progressing exactly as designed and we remain focused on advancing the targets that support our mission to become the first producer of tungsten in the United States," said Ali Haji, chief executive officer of American Tungsten.

About the IMA mine

The IMA mine is a past-producing underground tungsten mine situated on 22 patented claims located in east-central Idaho. Between 1945 and 1957, the property produced approximately 199,449 MTUs of WO3 and was subsequently explored for molybdenum and tungsten by various operators between 1960 and 2010. American Tungsten is currently conducting an exploration drill program and assessing potential for restart of underground tungsten mining operations at the IMA mine.

The company's phase 1 drill program is focused on five priority exploration targets consisting of the No. 5 and No. 7 vein systems, the IMA west vein, the eastern vein, and the main IMA vein. The program was designed to systematically test multiple sheeted tungsten veins updip and along strike of historical resources defined on the D level of the IMA mine. The objective of the company's phase 1 program is to further delineate these historically identified tungsten vein systems and address compelling low-risk targeted areas for expansion of known mineralization by the end of Q1 (first quarter) 2026.

Hubnerite-bearing quartz veins have been intersected in all drill holes, consistent with those described in the news release dated Dec. 18, 2025. The No. 5 and No. 7 veins are interpreted to be laterally continuous between drill holes. Analytical results from this drilling are pending and there is no guarantee that assay results will verify visual observations of mineralization, grade or economic viability.

Qualified person

Technical information in this news release has been prepared in accordance with Canadian regulatory requirements set out in National Instrument 43-101, Standards of Disclosure for Mineral Projects. Austin Zinsser, PG, SME-RM, vice-president, exploration, for the company, and a qualified person as defined by NI 43-101, has reviewed and approved the scientific and technical information in this news release.

About American Tungsten Corp.

American Tungsten is a Canadian exploration company focused on high-potential tungsten and magnetite assets in North America. The company is advancing the IMA mine project in Idaho to commercial production, addressing critical metal scarcity in North America. The company's IMA mine project is a historic and high-quality underground tungsten past-producing property on private-patented land well above the water table with significant infrastructure. The company holds an exclusive option to acquire full ownership (subject to a 2-per-cent royalty) and has expanded its land position with 113 additional federal claims covering nearly 2,000 acres.

Quality assurance/quality control (QA/QC) measures, chain of custody

American Tungsten's QA/QC program applies industry standard best practices to ensure data quality and integrity for the IMA mine project, including maintaining chain of custody, secure sample storage, adherence to data collection protocols, and inclusion of certified reference, blank and duplicate quality assurance samples in laboratory submissions. Initial samples were submitted for assay to ALS Minerals, Twin Falls, Idaho, in December, 2025. Assay results will be released when available. Visual mineral identification was conducted by qualified professional geologists in conjunction with assessment of mineral form, hardness, streak, fluorescence and other semi-qualitative data. Analytical results are pending and there is no guarantee that assay results will verify visual observations of mineralization, grade or economic viability.

We seek Safe Harbor.