In the news release, AMERICAN TUNGSTEN ANNOUNCES UPSIZE OF BOUGHT DEAL FINANCING TO $35 MILLION, issued 02-Mar-2026 by American Tungsten Corp. over CNW, we are advised by the company that changes have been made. The complete, corrected release follows, with additional details at the end:

AMERICAN TUNGSTEN ANNOUNCES CORRECTION TO WARRANT TERMS OF UPSIZED BOUGHT DEAL FINANCING TO $35 MILLION

/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES/

VANCOUVER, BC , March 2, 2026 /CNW/ - American Tungsten Corp.(CSE: TUNG) (OTCQB: TUNGF) (FRA: RK90) ("American Tungsten" or the "Company"). Further to the Company's financing upsize news release disseminated this morning announcing it has entered into an amended agreement with Stifel Canada to act as lead underwriter and sole bookrunner, on behalf of a syndicate of underwriters (together with Stifel Canada, the "Underwriters"), pursuant to which the Underwriters have now agreed to purchase, on a "bought deal" basis, 12,423,000 units of the Company (the "Units") at a price of C$2.80 per Unit (the "Offering Price") for aggregate gross proceeds of C$34,784,400 (the "Offering"), the Company wishes to clarify that each Unit issued pursuant to the Offering will consist of one Class A common share (a "Common Share") in the capital of the Company and one-half of one Class A common share purchase warrant (each whole warrant, a "Warrant") rather than a one full Warrant as previously  announced. Each Warrant will be exercisable to acquire one Common Share for a period of 36 months following the closing date of the Offering at an exercise price of C$3.75 per common share.

The net proceeds from the Offering are expected to be used by the Company to advance exploration and development at the Company's IMA Mine Project and for working capital and for general corporate purposes.

The Units will be offered by way of private placement: (a) in each of the provinces of Canada pursuant to applicable prospectus exemptions under applicable Canadian securities laws; (b) to investors in the United States pursuant to available exemptions from the registration requirements of the United States Securities Act of 1933, as amended; (c) in jurisdictions outside of Canada and the United States as are agreed to by American Tungsten and the Underwriters on a private placement equivalent basis.

The Offering is scheduled to close on or about March 18, 2026 (the "Closing Date") and is subject to certain conditions including, but not limited to, the receipt of all necessary regulatory and other approvals.

The Offering is subject to the policies of the Canadian Securities Exchange (the "Exchange"). The securities issued pursuant to the Offering will subject to a four-month hold period in accordance with applicable Canadian securities laws and the rules of the Exchange.

The securities referred to in this news release have not been and will not be registered under the United States Securities Act of 1933, as amended (the " U.S. Securities Act "), or any state securities laws and may not be offered or sold within the United States or to, or for the account or benefit of, "U.S. Persons" (as such term is defined in Regulation S under the U.S. Securities Act) absent such registration or an applicable exemption from the registration requirements of the U.S. Securities Act. This news release does not constitute an offer for sale of securities, nor a solicitation for offers to buy any securities.

About American Tungsten Corp.

American Tungsten Corp. is a Canadian exploration company focused on high-potential tungsten and magnetite 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% royalty) and has expanded its land position with 113 additional federal claims covering nearly 2,000 acres.

For further updates, visit www.americantungstencorp.com or investor relations, Joanna Longo at ir@americantungstencorp.com. 

Social media links:

LinkedIn: https://www.linkedin.com/company/americantungstencorp/
X: https://x.com/amtungsten
Facebook: https://www.facebook.com/americantungstencorp/
Instagram: https://www.instagram.com/americantungstencorp/
YouTube: https://www.youtube.com/@americantungstencorp

CSE:TUNG
OTCQB:TUNGF
FRA: RK90

Cautionary Note Regarding Forward-Looking Statements

The Canadian Securities Exchange does not accept responsibility for the adequacy or accuracy of this release and has neither approved nor disapproved the contents of this press release.

This news release includes "forward-looking information" that is subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of the Company. Forward-looking statements may include but are not limited to, statements regarding the closing of the offering, the timing of the closing of the offering, the use of proceeds from the offering, the receipt of regulatory approvals and future results of operations, performance and achievements of the Company. Although the Company believes that such forward-looking statements are reasonable, it can give no assurance that such expectations will prove to be correct. Forward-looking statements are typically identified by words such as: believe, expect, anticipate, intend, estimate, and similar expressions, or are those, which, by their nature, refer to future events. The Company cautions investors that any forward-looking statements by the Company are not guarantees of future results or performance, and that actual results may differ materially from those in forward-looking statements as a result of various factors and risks, including, uncertainties with respect to obtaining all regulatory approvals to complete the Offering, uncertainties of the global economy, market fluctuations, the discretion of the Company in respect to the use of proceeds discussed above, any exercise of termination by counterparties under applicable agreements, the Company's inability to obtain any necessary permits, consents or authorizations required for its activities, to produce minerals from its properties successfully or profitably, to continue its projected growth, to raise the necessary capital or to be fully able to implement its business strategies, and other risks identified in its disclosure documents filed at www.sedarplus.ca. 

 Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual events, results and/or developments may differ materially from those in the forward-looking statements. Readers should not place undue reliance on the Company's forward-looking statements. The forward-looking statements are made as of the date of this news release and the Company assumes no obligation to update or revise any forward-looking statements to reflect new events or circumstances, except in accordance with and as required by applicable securities laws.

No securities regulatory authority has either approved or disapproved of the contents of this news release.

In the current version of the release, amendments have been made to the headline and first three paragraphs have been updated. 

SOURCE American Tungsten Corp.