Western Star Resources Company (Private search engine: WSR) (Over-the-counter: WSRIF) (4K2: FRA) (“the Company” or “Western Star”) further announced that, further to its news release dated April 16, 2026, it has closed its non-brokered private placement and raised $3,193,713 by issuing 6,387,426 units (“Units”) at a price of $0.50 per Unit. Each Unit consists of one common share and one-half of a one-share purchase warrant (“Warrant”) with each whole warrant entitling the holder thereof to purchase one Common Share at a price of $0.75 per Warrant Share expiring on May 11, 2028.
The Company paid a finders’ fee of $99,175 and issued 255,950 finder’s warrants at a price of $0.75 for a two-year term ending on May 11, 2028. All securities issued are subject to a four-month hold period ending on September 12, 2026.
The Company intends to use the net proceeds Phase 1 and 2 training programmes In the past, Rowland Property’s tungsten asset production, completion of transportation of its critical minerals to Nevada/America, general working capital and market awareness. The Private Placement remains subject to certain conditions, including, but not limited to, the receipt of all necessary approvals including the approval of the Canadian Securities Exchange.
The Company is also pleased to announce that, in addition to its May 1, 2026 news release, it has closed its flow through private placement and issued 833,334 flow through shares (“FT Shares”) at a price of $0.60 per FT Share for gross proceeds of $500,000 (the “FT Offering”). The company also paid a $25,000 commission and issued 58,333 finder’s warrants at a price of $0.60 for a two-year term expiring on May 11, 2028. All FT shares and finder’s warrants are subject to a four-month hold period ending on September 12, 2026.
The gross proceeds received by the Company from the FT Offer will be used to defer eligible “Canadian Exploration Expenditures” (“CEE”) representing “stream mining expenditures” (as defined in the Income Tax Act (Canada)) relating to the Company’s Western Star Project and will be used as appropriate for expenditures eligible for the Critical Minerals Tax Credit (CMETC).
“I am pleased with the significant interest in our recent private placement,” said Blake Morgan, President and CEO of Western Star Resources.
With over $6,000,000 to date, Western Star Resources is fully funded to execute multiple drilling programs across previously produced high-grade tungsten assets in Nevada. This capital provides the resources necessary to aggressively advance our exploration and development objectives.
We appreciate your continued support as we move forward with these programs.
The Company is also pleased to announce that Mr. Monty Sutton has agreed to serve as a director of the Company effective May 11, 2026. Mr. Sutton also serves as the Company’s Chief Financial Officer. Mr. Sutton has more than 35 years of experience in public markets, corporate governance, senior management and accounting, and has served on the management teams and boards of numerous private and public companies.
The securities referred to in this press release have not been and will not be registered under the U.S. Securities Act of 1933, as amended (“US securities law“) or any state securities laws and may not be offered or sold within the United States or to the account or benefit of U.S. persons absent registration under the U.S. Securities Act and applicable state securities laws, unless an exemption from such registration is available. This press release does not constitute an offer to sell securities for sale, nor a solicitation of offers to buy any securities. Any public offering of securities in the United States must be made by means of a prospectus containing detailed corporate and management information, as well as financial statements. “United States” and “U.S. Person” have the meanings Designated in Regulation S under the US Securities Act.
About Western Star Resources
Western Star Resources is a mineral exploration startup focused on revitalizing North America’s tungsten supply. The company is strengthening its entry into the US market through the acquisition of a formerly producing tungsten mine in Nevada – one of America’s most important historical tungsten regions. Through this strategic move, Western Star positions itself to play a leading role in re-establishing a secure domestic source for this important metal. The company also owns nine contiguous unsurveyed mineral claims totaling 4,740 hectares, located within the Revelstoke mining division of British Columbia. The Western Star real estate cluster is located about 50 kilometers southeast of Revelstoke, British Columbia, and about 10 kilometers north of the abandoned community of Camborne.
Contact information:
Blake Morgan
CEO and Director
Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this news release.
Certain statements and information contained herein may constitute “forward-looking information.” In particular, references to the private placement and future work programs or expectations regarding the quality or results of such work programs are subject to risks associated with operations on the property, exploration activity generally, equipment limitations and availability, as well as other risks of which we may not currently be aware. Accordingly, readers are advised not to place undue reliance on forward-looking information. Except as required under applicable securities legislation, the Company undertakes no obligation to publicly update or revise forward-looking information, whether as a result of new information, future events or otherwise.
