Western Star Resources Acquires Nevada Tungsten Project to Bolster Domestic Critical Minerals Supply

Western Star Resources Inc. has entered into an agreement to acquire the past-producing Rowland Project located in Nevada's Jarbidge mining district. The acquisition represents a strategic move into critical minerals development at a time when the United States lacks domestic commercial tungsten production and relies heavily on imports, with approximately 85% of global supply controlled by China. The Rowland Property features high-grade tungsten mineralization with historical reports showing values of 3.38% WO₃, consisting of a road-accessible past-producing mine with two shallow shafts and several hundred feet of open cuts.

Historical production includes a 1943 shipment of 4.5 tons of ore containing 3.38 percent WO₃ to Metals Reserve Co., followed by approximately 1,000 tons of ore containing 0.5 to 1.0 percent WO₃ produced between 1954-56. Blake Morgan, CEO of Western Star, emphasized the national significance of developing domestic tungsten sources, stating that securing a domestic source of tungsten is not just a business opportunity but a matter of national importance. The acquisition aligns with Western Star's mission to deliver value to shareholders while supporting U.S. government priorities to strengthen domestic supply chains for critical minerals.

The transaction involves total consideration of CAD $60,000 and 1,000,000 common shares of Western Star Resources Inc. The agreement includes deferred milestone considerations tied to specific performance targets, including share issuances for expanding claim areas, identifying high-grade samples, and completing successful drilling programs. The vendors retain a 1.5% Net Smelter Return Royalty on the Property, with Western Star having the right to buy back 1.0% for CAD $1,000,000. The underlying option agreement requires Western Star to make payments totaling US$50,000 through 2028 to earn a 100% interest in the property, subject to a 0.5% production royalty.

The project's geological setting features limestones, shales, and quartzites intruded by a quartz monzonite stock, with adjacent shales and limestones extensively metamorphosed to skarn and hornfels in zones up to 100 feet wide. Scheelite mineralization occurs as coarse crystals and fine disseminations with molybdenite, powellite, pyrite, chalcopyrite, and limonite in a garnet, epidote, quartz, and calcite skarn. Western Star plans immediate exploration activities including geophysics, channel sampling, and mapping, with the goal of advancing the project to a drill-ready stage for a maiden program early next year.

The company views the property as significantly under-explored using modern techniques despite its historical production record. The acquisition comes as recent U.S. Executive Orders prioritize fast-tracking domestic tungsten projects, with federal grants and defense-sector support available for qualifying assets. Derrick Strickland, a qualified person as defined by National Instrument 43-101, has reviewed and approved the scientific and technical information contained in the announcement.