Tungsten alloys go into armor-piercing projectiles, and tungsten carbide tools cut, drill and mine for industry. The United States has not mined it commercially since 2015, and from January 1, 2027, U.S. defense contracts restrict tungsten mined or produced in China, Russia, North Korea and Iran.
Sources: U.S. Geological Survey, Mineral Commodity Summaries 2026; DFARS 252.225-7052.
0 t
U.S. tungsten mine production in 2025. Tungsten has not been mined commercially in the United States since 2015.
Tungsten APT prices roughly doubled in 2025, from US$331 to US$675 per metric ton unit (Rotterdam), after China's February 2025 export controls on selected tungsten items and U.S. tariffs of 50% on several Chinese tungsten products.
U.S. defense acquisition rules bar tungsten mined or produced in China, Russia, North Korea or Iran from Pentagon supply chains, subject to limited exceptions.
In fiscal 2025 the U.S. National Defense Stockpile listed potential acquisitions of 2,041 t of tungsten, and tungsten projects in Nevada, New Brunswick and Yukon received Defense Production Act Title III awards. Source: U.S. Geological Survey, Mineral Commodity Summaries 2026.
02 / The strategy
Acquire the ground America already mined. Explore it with modern tools.
01
Past producers
Historical tungsten production was reported at all three U.S. properties between 1943 and 1956.
02
Federal history
In 1955 the U.S. Government signed a contract to fund 75% of shaft sinking and diamond drilling at Eagle Point. It was never carried out.
03
Built to permit
All seven planned Nevada drill pads sit on existing disturbance. Eagle Point has a surface use agreement and a filed BLM Notice.
04
Modern methods
LiDAR, drone magnetics on all three projects, 3D inversion in Nevada, a Leapfrog model at Eagle Point and ALS-certified assays, with Dahrouge Geological Consulting and KC Harvey Environmental.
Then
Government sketch of the Eagle Point prospect, its open cut and tactite bodies (DMEA docket 1476X, 1950s). Source: company news release, June 15, 2026.
Now
2026 drone magnetic survey lines over Rowland's historical workings (yellow). Source: company news release, May 21, 2026.
Sources: Company news releases of January 15, May 19, May 21, June 15, September 22 and October 7, 2026.
03 / The assets
Three U.S. past producers, one B.C. property.
Rock-cut entrance to historical workings at Eagle Point
Hidalgo County, New Mexico · 100% owned
Eagle Point Tungsten Project
A past-producing scheelite skarn the U.S. Government planned to drill in 1955.
Historical production figures and estimates pre-date modern reporting standards, have not been verified by a Qualified Person and are not current mineral resources or reserves. Rock-chip and grab samples are selective and may not be representative. No mineral resource has been established on any of the Company's properties.
Eagle Point, New Mexico
Drilling where the U.S. Government planned to in 1955
1943-44
About 650 to 665 short tons grading about 0.44% WO₃ mined from an open cut and shipped (Faick and MacKallor, 1951; Dale and McKinney, 1959).
1955
The U.S. Government signed a Defense Minerals Exploration Administration contract (Idm-E-783, Docket DMEA-3701) to fund 75% of shaft sinking and diamond drilling. It was never carried out.
2026
Western Star acquires the project (June 15), maps scheelite-bearing skarn along about 2,600 feet of contact, reports first modern assays (October 7), submits an Exploration Notice to the BLM (October 22) and maps the skarn contact beneath cover with drone magnetics (November 11).
The historical production figures and the 1954 estimate pre-date modern reporting standards, have not been verified by a Qualified Person and are not current mineral resources or reserves. The Company is not treating them as current and provides them for historical context only. Sources: company news releases of June 15, August 12 and October 7, 2026.
Rock-chip, grab and soil samples are selective and may not be representative of mineralization. Eagle Point assays (October 7, 2026) reviewed and approved by Jacob Anderson, CPG, MAusIMM (independent QP); Eagle Point magnetics (November 11, 2026) and Nevada by Jasper Mowatt, MIMMM, MAusIMM (QP, not independent). No mineral resource has been established.
Eagle Point: August 2026 samples on satellite imagery. Source: company news release, October 7, 2026.Scheelite fluorescing under UV, Eagle Point, 2026. No grade is inferred from visual or UV observation.
Scheelite, the main tungsten ore mineral, fluoresces bright blue-white under shortwave ultraviolet light, which is how geologists spot it in the field. Fluorescence is consistent with scheelite; no grade is inferred from visual or UV observation.
05 / What's next
27 holes, three properties.
Nov 11, 2026 · done
Eagle Point drone magnetics map the skarn-hosting contact beneath cover; the 17 planned holes sit on it, six stepping out up to about 400 m north-west of the historical workings.
Oct 22, 2026 · done
Eagle Point: Exploration Notice submitted to the BLM Las Cruces District Office; drill contract tendered.
Next
Eagle Point: 17-hole, approx. 6,070 ft program, the first drilling at Eagle Point in more than 70 years, subject to BLM review and state permits.
Planned
Nevada: 6 holes at Rowland and 4 at White Star, approx. 5,000 ft in total; drill permitting under way through a U.S. Forest Service Plan of Operations.
Rowland planned drill holes, October 13, 2026Source: company news release, October 13, 2026White Star planned drill holes, October 20, 2026Source: company news release, October 20, 2026
