American Tungsten Intersects Hubnerite-Scheelite Mineralization in Initial Drillhole at IMA Mine Project

Vancouver, December 18, 2025 - American Tungsten Corp. (CSE: TUNG) (OTCQB: TUNGF) (FSE: RK90) ("American Tungsten" or the "Company) announced that it has completed the initial drillhole at the Company's IMA mine project and reports presence of hubnerite and scheelite tungsten mineralization over multiple core intercepts.

The Phase 1 drilling program, as described in the Company's press release on December 02, 2025, 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 up-dip 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 2026

"The initial drillholes at the IMA project are highly promising for American Tungsten. While assay results are still pending, this early success is a testament to the expertise and dedication of our technical team. Their work is laying the groundwork to validate historical reserves and unlock new opportunities for growth. We are confident this momentum will continue to expand the project's potential and deliver lasting value for our shareholders," said Ali Haji, CEO of American Tungsten Corp.

Drill Program Highlights

• The first drillholes were collared from a new crosscut in the footwall of the D Level vein system. AT25-01was oriented on a 280 azimuth with a +40 inclination;

  • AT25-02 was oriented on a 225 azimuth with a +45 inclination. AT25-01 was completed at 373 feet on December 12, 2025;

  • Drillhole AT25-02 is ongoing as part of the Company's planned 10,000 ft, phase 1 program. The drilling contractor is initiating double-shifts to increase productivity;

• AT25-01 intersected the No. 5 vein over 12.7 ft from 95 to 107.7 ft, and the No. 7 vein over 14.1 ft from 240.2 to 254.3 ft. AT25-02 is currently drilled to a depth of approximately 150 ft and intersected the No.5 vein over 11.5 ft from 93 to 104.5 ft.;

• Hubnerite (MnWO₄) was observed as 0.5-10mm reddish-brown to black striated prismatic crystals occurring within discrete vein horizons distributed throughout significant widths of the No. 5 quartz vein. Scheelite (CaWO₄) was observed under shortwave UV light as blue fluorescent diffuse masses, sometimes rimming hubnerite crystals within coarse milky quartz over four feet of the vein.;

• In the No. 7 vein, hubnerite was observed as 0.5 to 5mm crystals occurring in discrete vein horizons within sheeted or milky quartz vein phases, locally partially oxidized. Accessory minerals observed in both the No. 5 and No. 7 veins include tetrahedrite, chalcopyrite, galena, molybdenum, pyrite and fluorite;

• Wall rock in AT25-01 was generally unmineralized to weakly mineralized, except where additional pyrite-calcopyrite +/- molybdenum veins were intersected outboard of the primary veins.

• True width of the veins is estimated to be approximately 80% of intercept width, based on projected geometry and vein contact-core axis angles. Core recovery is greater than 90% within vein material. Assay results have not been received for AT25-01 or AT25-02.

AT25-01 88 ft to 115 ft showing No.5 quartz-hubnerite-tetrahedrite-pyrite-calcopyrite vein intercept.

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AT25-01 96.8 ft. Hubnerite masses in coarse milky quartz. Core diameter is 2 inches.

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AT25-01 105 ft. Hubnerite laths and partially oxidized masses in coarse milky quartz. Core diameter is 2 inches.

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AT25-01 99.5 and 103.5 ft. Scheelite (blue fluorescence) visible under shortwave UV in coarse milky quartz. Core diameter is 2 inches.

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AT25-01 265 ft. Hubnerite in quartz vein adjacent to sericite altered quartzite. Core diameter is 2 inches.

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AT25-01 240.2 - 247.3 ft - banded quartz of No. 7 vein with pyrite, tetrahedrite, local hubnerite. Core diameter is 2 inches.

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The next drillholes from the first drill station, are oriented to fan southward from the initial intercepts. The drift to access the second drill station 200 ft to the north is well advanced. Analytical results are pending and there is no guarantee that assay results will verify visual observations of mineralization, grade, or economic viability.

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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 1960-2010. American Tungsten Corp is currently conducting an exploration drill program and assessing potential for re-start of underground tungsten mining operations at the Ima Mine.

Quality Assurance/Quality Control ("QA/QC") Measures, Chain of Custody

American Tungsten Corp'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. Samples will be submitted for assay to ALS Minerals, Twin Falls, ID 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.

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 ("NI-43-101"). Austin Zinsser, P.G., 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 Corp. 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% royalty) and has expanded its land position with 113 additional federal claims covering nearly 2,000 acres.

For further updates, visit www.americantungstencorp.com or investor relations, Joanna Longo at ir@americantungstencorp.com.

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(CSE: TUNG)
(OTCQB: TUNGF)
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The Canadian Securities Exchange does not accept responsibility for the adequacy or accuracy of this release and has neither approved nor disapproved the contents of this press release.

This news release includes "forward-looking information" that is subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of the Company. Forward-looking statements may include but are not limited to, statements relating to the completion of the Offering on the terms described herein or at all, and the use of proceeds and available funds following the completion of the Offering and are subject to all of the risks and uncertainties normally incident to such events. Investors are cautioned that any such statements are not guarantees of future events and that actual events or developments may differ materially from those projected in the forward-looking statements. Such forward-looking statements represent management's best judgment based on information currently available. No securities regulatory authority has either approved or disapproved of the contents of this news release. The Company undertake no obligation to update publicly or otherwise revise any forward-looking statements, except as may be required by law.

Statements concerning historical mineral resources, production, and exploration results on the property have been obtained through both public and private sources, and are believed to be substantially factual and relevant in that they demonstrate the tenor of exploration targets on the property. Historical resource estimates pre-date the implementation of NI 43-101 and do not use categories stipulated by CIM. Prior operators assigned confidence categories which differ from those stipulated by CIM, as they may not have demonstrated economic viability. The estimates should not be relied upon until they have been verified. Neither American Tungsten Corp., or its Qualified Person, has done sufficient work to classify the historical estimates as current mineral resources or to verify historical information regarding past production, sampling or drilling. American Tungsten Corp. is not treating the historical estimates as current mineral resources or mineral reserves. Exploration Targets discussed are conceptual in nature; it is uncertain whether a mineral resource will be delineated based on potential exploration.

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