Stonegate Capital Partners Updates Coverage on American Tungsten Corp. (TUNG) 2025 Q3

Dallas, Texas–(Newsfile Corp. – February 17, 2026) – American Tungsten Corp. (CSE: TUNG): Stonegate Capital Partners updates their coverage on American Tungsten Corp. (CSE: TUNG). In July 2025, the Company closed an upsized C$7.0M private placement (14.0M shares issued), strengthening the balance sheet for accelerated field execution. In a subsequent investor update, management highlighted that the upcoming restriction expiry on the July placement shares represents a mechanical unlock rather than incremental dilution. The Company has disclosed a Letter of Interest from the Export-Import Bank of the United States (EXIM) for up to US$25.5M to support development of the IMA Project, which we view as an incremental validation of the strategic importance of domestic tungsten supply and a potential pathway toward non-dilutive or structured funding. Drilling continues at the IMA Mine Project, and we expect a full technical analysis this year.

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Key Takeaways:

• Financing strengthens balance sheet
• High-grade IMA drilling supports resource
• EXIM interest signals strategic validation

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About Stonegate: Stonegate Capital Partners is a leading capital markets advisory firm providing investor relations, equity research, and institutional investor outreach services for public companies. Our affiliate, Stonegate Capital Markets (member FINRA) provides a full spectrum of investment banking services for public and private companies.

Source: Stonegate, Inc.

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