Mr. Ali Haji reports

AMERICAN TUNGSTEN CORP. ANNOUNCES LISTING ON THE TSX VENTURE EXCHANGE, FILING OF REVISED TECHNICAL REPORT AND RELATED MATTERS

The TSX Venture Exchange has approved the listing of the Class A common shares of American Tungsten Corp. on the TSX-V and its Shares will commence trading on the TSX-V at market open on May 29, 2026 under the symbol TUNG. In connection with the TSX-V listing, the company will be delisting its shares from the facilities of Canadian Securities Exchange effective market close on May 28, 2026. Both the TSX-V and CSE will issue bulletins announcing the delisting and subsequent TSX-V listing.

"Our transition from the CSE marks an important inflection point for American Tungsten," said Ali Haji, chief executive officer of American Tungsten. "Over the past year, we have achieved a number of key corporate and technical milestones that have strengthened both our asset base and our strategic position. This move reflects the progress we have made and, importantly, signals the next phase of growth for the company. We believe it will enhance our visibility, broaden our investor base and support continued advancement of the Ima mine project as we deliver on a steady pipeline of upcoming milestones."

Revised technical report

In connection with the TSX-V listing, the company has today filed a revised National Instrument 43-101, Standards of Disclosure for Mineral Projects, technical report for the Ima mine project. The revisions were made to address comments regarding minor deficiencies received from TSX-V staff as part of their normal listing review process.

The updates were routine and non-substantive in nature and focused on minor clarifications, completeness of disclosure, and presentation matters to better align the report with applicable Form NI 43-101F1 and TSX-V mining disclosure requirements. These updates consisted of straightforward clarifications to certain descriptive sections, minor wording and administrative refinements, and confirmation of standard disclosures, without changing the substance or intent of the original technical disclosure. No new material scientific or technical information was added.

There were no changes to the company's mineral tenure, exploration results, recommended work program or overall technical conclusions set out in the original report. The technical report, effective June 6, 2025, and revised as of May 27, 2026, is available under the company's profile on SEDAR+.

The technical report was prepared by A to Z Mining Professionals and is written by Brian LeBlanc, a qualified person as defined by NI 43-101. Mr. LeBlanc has reviewed and approved the scientific and technical information contained in this news release, including the disclosure relating to the technical report.

Annual information form

The company has voluntarily filed its annual information form (AIF) for the financial year ended Dec. 31, 2025, notwithstanding that it is not currently required to do so under applicable securities laws. The AIF has been filed on SEDAR+ and is available under the company's profile on SEDAR+.

Investor relations and market services provider engagements

In connection with its continuing investor relations strategy and the TSX-V listing, the company is announcing the engagement of a number of third party service providers to support market making, investor outreach and digital investor communications. Each of the following engagements is subject to final acceptance by the TSX-V.

ICP Securities Inc.

The company has engaged ICP Securities to provide automated market-making services, including the use of its proprietary algorithm, ICP Premium, in compliance with applicable TSX-V policies and other regulatory requirements.

Pursuant to a market-making agreement dated Feb. 9, 2025, ICP receives a monthly fee of $7,500, plus applicable taxes. The agreement has an initial term of three months and automatically renews for successive one-month terms unless terminated by either party on at least 30 days of prior written notice.

There are no performance factors contained in the agreement, and no stock options or other forms of equity compensation have been granted in connection with the engagement. ICP is an arm's-length party to the company. ICP and its clients may acquire an interest in the securities of the company in the future in the ordinary course of business.

ICP's market-making activities are intended to correct temporary imbalances in the supply and demand of the company's shares. ICP will be responsible for all costs it incurs in connection with such activities, and no third party will be providing funds or securities for market-making purposes.

Stonegate Capital Partners Inc.

The company has also engaged Stonegate Capital Partners to assist with raising awareness of the company's business and long-term growth strategy among a broader audience of institutional investors.

Founded in 1972, Stonegate is a leading independent research and investor outreach firm. It currently serves approximately 100 public global clients. Its affiliate, Stonegate Capital Markets (a member of FINRA (Financial Industry Regulatory Authority)) provides investments banking services. Neither Stonegate nor any of its team members currently hold securities of the company.

Pursuant to the terms of an advisory services agreement dated June 15, 2025, Stonegate receives a monthly fee of $3,000 (U.S.). The agreement does not have a fixed term and may be terminated by either party on written notice. Stonegate is an arm's-length party to the company. Neither Stonegate nor its principals currently hold any securities of the company, and they have no right or intent to acquire such securities other than through open-market transactions in the future.

NAI Interactive Ltd.

The company has terminated its marketing agreement with NAI Interactive. The marketing agreement, originally entered into on July 11, 2025, provided for certain investor relations and communications services, including e-mail marketing campaigns and management interviews. The company paid NAI a total cash consideration of $25,000 plus applicable taxes, paid in advance, for a 12-month term.

NAI and its principals are arm's length from the company and currently hold securities of the company. NAI and its principals may acquire or dispose of securities of the company from time to time in the ordinary course of business but have no rights or entitlements to acquire additional securities of the company other than through market transactions.

Global One Media Group Pte. Ltd.

The company has also engaged Global One Media, a global investor marketing and media firm, to support the company's digital investor communications strategy.

Pursuant to an agreement dated Nov. 4, 2024, Global One Media was retained for an initial 12-month term at a monthly fee of $3,700 (U.S.). The company paid an upfront fee of $11,100 (U.S.), representing the first three months of services under the agreement. Following the completion of the initial term, the agreement has transitioned to a month-to-month basis. Under the engagement, Global One Media assists with the creation and distribution of digital investor content, including video interviews and related corporate communications, with the objective of expanding the company's visibility and engagement with investors across key markets in North America, Europe and Asia.

Global One Media is arm's length, does not have any direct or indirect interest in the company or its securities or any right or intent to acquire such an interest, and may provide additional services to the company in the future.

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 (metric tonne units) of WO3 (tungsten trioxide) and was subsequently explored for molybdenum and tungsten by various operators between 1960 and 2010 (NI 43-101 technical report on the Ima mine, Patterson, Idaho, United States, page 29; B. LeBlanc, PEng (2025), A-Z Mining Professionals, dated June 6, 2025, on SEDAR+ for American Tungsten). American Tungsten is currently conducting an exploration drill program and assessing potential for a restart of underground tungsten mining operations at the Ima mine.

About American Tungsten Corp.

American Tungsten is a Canadian exploration company focused on high-potential tungsten 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.

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