Agreement To Explore Unpatented Tungsten Mining Claims

TORONTO – Almonty Industries Inc. has entered into a binding share purchase transaction involving U.S. Tungsten Inc., to acquire the exclusive right to explore, develop and mine certain unpatented tungsten mining claims located in Beaverhead County, Montana (the “Gentung Browns Lake Tungsten Project”).
The Gentung Browns Lake Tungsten Project is among the most advanced undeveloped tungsten assets in the U.S. and is positioned for near-term production as early as the second half of 2026. This is attributed to the fact that the current owners have conducted significant work over the years to prepare the site for production. The project is located in a historic U.S. tungsten district that once supplied the U.S. national strategic stockpile.