Allied Critical Minerals (CSE:ACM,FSE:0VJ0) is advancing two strategically important, past-producing tungsten projects—Borralha and Vila Verde—in northern Portugal. These brownfield assets offer a rare blend of near-term production potential and large-scale exploration upside, positioning ACM to emerge as the leading tungsten producer outside China. With 100 percent ownership of both projects and strong local support, the company is well-positioned to help secure a reliable supply of this critical metal for Western markets.
To capitalize on strong market conditions, ACM raised $4.6 million to advance a high-impact growth plan. This includes drilling at Borralha to expand its NI 43-101 resource and building a pilot plant at Vila Verde, set to begin in Q4 2025. The plant will process tailings and alluvial material, targeting ~250 tonnes of WO₃ annually and generating $4–5 million in revenue, supporting near-term cash flow with minimal dilution.
Borralha is ACM’s flagship development-stage project, located 100 km northeast of Porto. A historic producer of over 10,280 tonnes of high-grade wolframite concentrate (66 percent WO₃) until 1986, the brownfield asset is now advancing under a Mining Rights Concession and a newly updated NI 43-101 resource (effective July 31, 2024).
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With a strategic foothold in Portugal and a commodity focus on tungsten – a metal deemed critical by both NATO and US defense agencies – Allied Critical Minerals is advancing two past-producing projects toward near-term production. Backed by a $4.6 million financing, offtake interest from major buyers, and a leadership team with proven capital markets and operational success, ACM is well-positioned to become the largest tungsten producer outside of China.
Allied Critical Minerals (CSE:ACM,FSE:0VJ0) is advancing two highly strategic, past-producing tungsten projects – Borralha and Vila Verde – located in northern Portugal. These brownfield assets present a compelling combination of near-term production potential and district-scale exploration upside, positioning the company to become the largest tungsten producer outside of China. With 100 percent ownership of both projects and supportive local communities, ACM is well-placed to contribute to the critically needed supply of this strategic metal to Western markets.
Tungsten is essential for defense systems, electric vehicles, semiconductors and artificial intelligence (AI), yet current global supply is dominated by China and Russia, accounting for about 90 percent of production. ACM’s projects are aligned with national security strategies in the US and EU, seeking secure and stable sources of tungsten supply. The company has already signed a letter of intent with Global Tungsten & Powders, a major Pennsylvania-based end-user with ties to the US military and is actively engaging with other global refineries.
To capitalize on these market dynamics, ACM closed a $4.6 million financing to fund an aggressive value creation plan. This includes an ongoing drill program at Borralha aimed at expanding its existing NI 43-101 resource, and the construction of a pilot processing facility at Vila Verde, targeted to begin in Q4 2025 and become operational by 2026. The pilot plant will process tailings and alluvial material from existing deposits, with an estimated annual output of ~250 tons tungsten trioxide (WO₃) and projected revenues of $4 million to $5 million, supporting near-term cash flow with minimal dilution.
ACM differentiates itself from competitors such as American Tungsten and Fireweed through its permitting progress, advanced technical groundwork and strong leadership. CEO Roy Bonnell brings a proven track record of successful exits and rapid value creation, having been instrumental in the success of both Founders Metals (TSXV:FDR) and Thesis Gold (TSXV:TAU) — two of the TSX Venture’s top-performing issuers in recent years.
The Borralha project is ACM’s flagship development-stage asset, located approximately 100 km northeast of Porto in northern Portugal. A brownfield project with a rich production history dating back to 1904, Borralha produced over 10,280 tons of wolframite concentrate at an average grade of 66 percent WO₃, until operations ceased in 1986. Today, the project is advancing rapidly, supported by a Mining Rights Concession License and a newly updated NI 43-101 compliant resource estimate effective July 31, 2024. The estimate defines indicated resources of 4.98 million tons (Mt) at an average grade of 0.22 percent WO₃, 762 grams per ton (g/t) copper, and 4.8 g/t silver, and inferred resources of 7.01 Mt at 0.20 percent WO₃, 642 g/t copper, and 4.4 g/t silver. The project area hosts significant polymetallic enrichment, with tin and copper frequently associated with the tungsten mineralization, adding potential for by-product credits.
The primary zone of interest, the Santa Helena Breccia (SHB), is a subvertical to sub-horizontal breccia pipe-style tungsten system. Historical and recent drilling confirms broad, continuous mineralization with highlight intercepts including 106 m at 0.21 percent WO₃, 114 m at 0.23 percent WO₃, 108 m at 0.22 percent WO₃, and a high-grade zone of 10 m at 1.75 percent WO₃.
The SHB zone accounts for over 70 percent of known mineralization, but only about half of the zone has been drill-tested to date. The current drill campaign is targeting both lateral extensions and higher-grade core zones within the breccia body.
Geologically, the deposit is hosted in metasedimentary rocks intruded by late-Variscan granites, with mineralization occurring predominantly as wolframite associated with quartz-cassiterite veins and breccia infill. Breccia pipe mining techniques – similar to open-pit quarry operations – are anticipated for early-stage exploitation.
The project is currently undergoing an environmental impact assessment under review by Portuguese authorities. The mining license includes provisions for up to 150,000 tons per annum of bulk sampling ahead of full-scale operations, which will be governed by a future feasibility study. The low-cost drill environment (~$235/meter) and excellent infrastructure – including road, power, water and proximity to a skilled workforce – make Borralha a technically robust and strategically significant asset for ACM.
Located approximately 45 km southeast of Borralha, the Vila Verde project is ACM’s pilot production and near-term cash flow opportunity. Historically, this area hosted the Vale das Gatas Mine, which was one of Portugal’s largest tungsten producers prior to its closure in 1986. The project covers a significantly larger land area than Borralha and includes multiple mineralized zones, notably Cumieira and Porqueira. A historical resource estimate from 2020 defined 7.3 Mt of mineralized material above a 0.05 percent WO₃ cutoff, including 4.0 Mt at 0.14 percent WO₃ in the Cumieira zone and 3.3 Mt at 0.10 percent WO₃ in Porqueira. While historical in nature, these figures are supported by 17 diamond drill holes totaling 2,103 metres, which revealed a 2.1 km x 1.0 km mineralized footprint at Cumieira and a 1.0 km x 500 m footprint at Porqueira.
Vila Verde Pilot Plan
Vila Verde is advancing toward the construction of a 150,000-ton-per-annum pilot plant, scheduled to begin construction in Q4 2025 and be operational in 2026. Tailings and alluvial material from the Justes deposit will be used as the initial feedstock, with an average WO₃ grade of ~0.21 percent anticipated. Plant design includes standard crushing and grinding circuits followed by gravimetric and magnetic separation to produce a high-grade wolframite concentrate. Engineering work by GMR Consultores and MinePro Solutions supports an annual output of approximately 250 tons of WO₃ under current parameters. The total estimated CAPEX for the pilot plant is CA$7.9 million, with a proposed expansion to 300,000 tpa requiring an additional CA$2.9 million, both targeted for non-dilutive funding sources.
Permitting is progressing efficiently, with the mineral license being converted from exploration to experimental mining status. This permits early-stage production while full-scale licensing is pursued. The project benefits from pre-existing quarry infrastructure, strong community support, and short timelines to cash flow. A signed LOI with Global Tungsten & Powders in Pennsylvania provides an initial offtake channel, and additional negotiations with global refiners are ongoing. Vila Verde is central to ACM’s short-term revenue plan and is designed to serve as a testbed for scalable production across its broader tungsten portfolio.
Roy Bonnell is a seasoned executive with over 30 years in capital markets, venture finance and natural resources. Bonnell holds an LLB from Western University, an MSc from the London School of Economics, and an MBA from McGill University. He brings deep leadership and financing experience and previously served as a board member for Founders Metals and Thesis Gold – two of the TSXV’s top performers.
With over 20 years of mining sector experience in Portugal, João Barros specializes in exploration management, environmental impact assessments and feasibility studies. He has held leadership roles at Ascendant Resources and Redcorp, and is a member of the Portuguese Engineers Association.
Sean O’Neill is head of securities at Boughton Law with 20+ years in corporate and securities law, including advising mining firms globally. He holds degrees in Chemical Engineering and Law, an MBA, and is a registered professional engineer (P.Eng).
Michael Galego is the CEO of Apolo Capital Advisory and CLO of LNG Energy, with extensive experience in M&A and corporate strategy. Notably, he advised on the sale of Woulfe Mining (tungsten asset) to Almonty Industries. He is a Lexpert Top 40 Under 40 awardee and member of the TSX Venture Advisory Committee.
CEO of Founders Metals, Colin Padget brings operational exploration experience across South America. He holds a Masters in Geology and a Bachelor in Business Administration.
Former Managing Director of York Harbour Metals, Andrew Lee has 15 years of global exploration experience across gold and phosphate projects in Ecuador and West Africa.
A CPA with nearly 20 years in mining finance, Sean Choi has held CFO roles at York Harbour Metals, Ecuador Gold & Copper, and Northern Sun Mining. He holds a degree from the Western University.
Advancing two tungsten projects in Portugal with near-term production and exploration potential
(TheNewswire)
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Vancouver, BC June 24, 2025 TheNewswire - Allied Critical Metals Inc. (CSE: ACM | FSE: 0VJ0) ("Allied" or the "Company"), which is focused its 100% owned past producing Borralha and Vila Verde tungsten projects in northern Portugal, is pleased to announce the appointment of Mr. Vítor Arezes as Vice President, Exploration.
Mr. Arezes brings over 14 years of experience in geological exploration, project development, mining operations, and project evaluation across Portugal and internationally. His distinguished career includes senior technical and leadership roles in exploration and mining companies, with a strong focus on tungsten, tin, gold and other critical minerals and precious metals. He has led multi-disciplinary teams in the advancement of historical and greenfield projects, particularly within Portugal's mineral-rich regions.
"We are proud to welcome Vítor to the Allied team at a pivotal time in our development," said CEO Roy Bonnell. "His deep technical knowledge, regional expertise, and proven track record will be invaluable as we advance our Borralha and Vila Verde tungsten projects toward production."
Mr. Arezes is a registered professional geologist as a Professional Member of the Institute of Materials, Minerals and Mining (MIMMM #703197) and has collaborated with numerous governmental and academic bodies in geoscience and mineral development within Portugal and internationally. He also holds an BSc in Geology from University of Minho in Portugal.
This appointment reinforces Allied's commitment to assembling a best-in-class leadership and operations team as it aims to become a premier Western supplier of tungsten—one of the world's most strategic critical metals.
About Allied Critical Metals Inc.
Allied Critical Metals Inc. (ACM:CSE | FSE:0VJ0) is a Canadian-based mining company focused on the expansion and revitalization of its 100% owned past producing Borralha Tungsten Project and the Vila Verde Tungsten Project in northern Portugal. Tungsten has been designated a critical metal by the United States and other western countries, as they are aggressively seeking friendly sources of this unique metal. Currently, China, Russia and North Korea represent approximately 86% of the total global supply and reserves. The tungsten market is estimated to be valued at approximately USD $5 to $6 billion and it is used in a variety of industries such as defense, automotive, manufacturing, electronics, and energy.
Please visit our website at www.alliedcritical.com .
Also visit us at:
LinkedIn:
X: https://x.com/@alliedcritical/
Instagram: https://www.instagram.com/alliedcriticalmetals/
On behalf of the Board of Directors
"Roy Bonnell"
Roy Bonnell
CEO and Director
For further information or investor relations inquiries, please contact:
Dave Burwell
Vice President, Corporate Development
Email: daveb@alliedcritical.com
Tel: 403-410-7907
Toll Free: 1-888-221-0915
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS
This news release contains "forward-looking statements", including with respect to the use of proceeds. Wherever possible, words such as "may", "would", "could", "should", "will", "anticipate", "believe", "plan", "expect", "intend", "estimate", "potential for" and similar expressions have been used to identify these forward-looking statements. These forward-looking statements reflect the current expectations of the Company's management for future growth, results of operations, performance and business prospects and opportunities and involve significant known and unknown risks, uncertainties and assumptions, including, without limitation, those listed in the Company's Listing Statement and other filings made by the Company with the Canadian securities regulatory authorities (which may be viewed under the Company's profile at www.sedarplus.ca ). Examples of forward-looking statements in this news release include, but are not limited to, statements regarding the proposed timeline and use of proceeds for exploration and development of the Company's mineral projects as described in the Company's Listing Statement, news releases, and corporate presentations. Should one or more of these risks or uncertainties materialize or should assumptions underlying the forward-looking statements prove incorrect, actual results, performance or achievements may vary materially from those expressed or implied by the forward-looking statements contained in this news release. These factors should be considered carefully, and prospective investors should not place undue reliance on the forward-looking statements. This list is not exhaustive of the factors that may affect any of the Company's forward-looking statements and reference should also be made to the Company's Listing Statement dated April 23, 2025 and news release dated May 16, 2025, and the documents incorporated by reference therein, filed under its SEDAR+ profile at www.sedarplus.ca for a description of additional risk factors. The Company disclaims any intention or obligation to revise forward-looking statements whether as a result of new information, future developments or otherwise, except as required by law.
The Canadian Securities Exchange does not accept responsibility for the adequacy or accuracy of this press release and has neither approved now disapproved the contents of this press release.
Copyright (c) 2025 TheNewswire - All rights reserved.
News Provided by TheNewsWire via QuoteMedia
(TheNewswire)
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Vancouver, British Columbia TheNewswire - June 2, 2025: Allied Critical Metals Inc. (CSE: ACM | FSE:0VJ0) (" Allied" or the " Company" ), which is focused on its 100% owned past producing Borralha and Vila Verde (Vale das Gatas) tungsten projects in northern Portugal, is pleased to announce the commencement of a fully-funded exploration program that will include up to 5,000 metres of core drilling at the Company's flagship Borralha Tungsten Project (the " Property" or " Borralha" ), located in northern Portugal.
Roy Bonnell, CEO and Director commented, "The launch of this 5,000-metre drilling campaign marks a major milestone for Allied and the continued advancement of the Borralha Project. Our experienced geological team in Portugal expects the results to meaningfully expand the current resource base, paving the way for a more robust and valuable project. All newly defined tonnage will be incorporated into an updated Preliminary Economic Assessment (PEA), scheduled for release this fall. In parallel, advanced metallurgical optimization test work will be conducted at Wardell Armstrong's laboratories in the UK, focusing on enhancing metal recoveries and concentrate grades. These efforts are aimed at further improving the economic performance of the project and delivering a higher-quality concentrate to meet the demanding standards of end-users."
The Borralha project is an advanced-stage brownfield tungsten project located in northern Portugal. Historically mined between 1904 and 1985, it produced over 10,280 tonnes of high-grade wolframite concentrate averaging 66% WO₃ (as described in the Company's Technical Report, referenced below). The Borralha project is now positioned for near-term, low-cost production with modern exploration confirming significant remaining mineralization.
Key highlights include:
Current NI 43-101 Resources (as of March 2024):
Indicated: 4.98 million tonnes at 0.22% WO₃, 762 g/t Cu, and 4.8 g/t Ag.
Inferred: 7.01 million tonnes at 0.20% WO₃, 642 g/t Cu, and 4.4 g/t Ag.
The Company has completed its maiden mineral resource estimate for the Property described in its technical report entitled, "Technical Report on the Borralha Property, Parish of Salto, District of Vila Real, Portugal" dated effective July 31, 2024 (the " Technical Report" ), which is available under the Company's profile on SEDAR+ at www.sedarplus.ca .
Recent Exploration : Drilling from 2023–2024 returned strong intercepts, including up to 10m at 1.75% WO₃ and multiple longer intervals averaging over 0.2% WO₃, as reported in the Technical Report.
Proposed 2025 RC Drilling Program:
Click Image To View Full Size
The following figure shows the plan of the proposed 2025 RC drilling program and an example of the proposed sectional drilling.
Figure 1: Proposed 2025 RC Drilling Program and Example of Proposed Sectional Drilling
Permitting: The project holds a Mining Rights Concession License and is undergoing environmental assessment to transition to full-scale mining. Current permitting allows bulk sampling of up to 150,000 tonnes per annum.
Infrastructure: Located near the major Portuguese cities of Braga and Porto, it benefits from excellent infrastructure including roads, power, water, and skilled labor.
Strategic Positioning: Borralha represents one of the few near-term, non-Chinese tungsten production opportunities globally, strategically aligning with the West's increasing demand for critical raw materials amid heightened supply chain vulnerabilities. With Borralha and other national assets, Portugal is poised to emerge as one of Europe's leading suppliers of tungsten , reinforcing its role in supporting the continent's industrial resilience and green transition.
This project forms the cornerstone of Allied's strategy to become a leading Western supplier of tungsten, a metal critical to defense, EVs, semiconductors, and industrial manufacturing.
Qualified Person
Doug Blanchflower, P.Geo. is a Consulting Geologist with Minorex Consulting and has reviewed and approved the scientific and technical information in this news release and is a Registered Professional Geoscientist in good standing with the Association of Professional Engineers and Geoscientists of British Columbia (No. 19086), and is independent from ACM and its mineral properties and is a qualified person for the purposes of National Instrument 43-101—Standards of Disclosure for Mineral Projects . Mr. Blanchflower is independent of the Company and its mineral properties.
On behalf of the Board of Directors
"Roy Bonnell"
Roy Bonnell
CEO and Director
For further information or investor relations inquiries, please contact:
Dave Burwell
Vice President, Corporate Development
Email: daveb@alliedcritical.com
Tel: 403-410-7907
Toll Free: 1-888-221-0915
ABOUT ALLIED CRITICAL METALS
Allied Critical Metals Inc. (ACM:CSE | FSE:0VJ0) is a Canadian-based mining company focused on the expansion and revitalization of its 100% owned past producing Borralha Tungsten Project and the Vila Verde Tungsten Project in northern Portugal. Tungsten has been designated a critical metal by the United States and other western countries, as they are aggressively seeking friendly sources of this unique metal. Currently, China and Russia represent approximately 90% of the total global supply and reserves. The Tungsten market is estimated to be valued at approximately U.S.$5 to $6 billion and it is used in a variety of industries such as defense, automotive, manufacturing, electronics, and energy.
Please also visit our website at www.alliedcritical.com.
Also visit us at:
LinkedIn:
X: https://x.com/@alliedcritical/
Facebook:
Instagram: https://www.instagram.com/alliedcriticalmetals/
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS
This news release contains "forward-looking statements", including with respect to the use of proceeds. Wherever possible, words such as "may", "would", "could", "should", "will", "anticipate", "believe", "plan", "expect", "intend", "estimate", "potential for" and similar expressions have been used to identify these forward-looking statements. These forward-looking statements reflect the current expectations of the Company's management for future growth, results of operations, performance and business prospects and opportunities and involve significant known and unknown risks, uncertainties and assumptions, including, without limitation, those listed in the Company's Listing Statement and other filings made by the Company with the Canadian securities regulatory authorities (which may be viewed under the Company's profile at www.sedarplus.ca ). Examples of forward-looking statements in this news release include, but are not limited to, statements regarding the proposed timeline and terms of the investor awareness campaign, anticipated benefits to Company from running the investor awareness campaign, and the performance of the investor relations services providers of the marketing services as contemplated in the marketing agreements, or at all. Should one or more of these risks or uncertainties materialize or should assumptions underlying the forward-looking statements prove incorrect, actual results, performance or achievements may vary materially from those expressed or implied by the forward-looking statements contained in this news release. These factors should be considered carefully, and prospective investors should not place undue reliance on the forward-looking statements. This list is not exhaustive of the factors that may affect any of the Company's forward-looking statements and reference should also be made to the Company's Listing Statement dated April 23, 2025 , and the documents incorporated by reference therein, filed under its SEDAR+ profile at www.sedarplus.ca for a description of additional risk factors. The Company disclaims any intention or obligation to revise forward-looking statements whether as a result of new information, future developments or otherwise, except as required by law.
The Canadian Securities Exchange does not accept responsibility for the adequacy or accuracy of this press release and has neither approved now disapproved the contents of this press release.
Copyright (c) 2025 TheNewswire - All rights reserved.
News Provided by TheNewsWire via QuoteMedia
(TheNewswire)
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Vancouver, British Columbia May 16, 2025 TheNewswire Allied Critical Metals Inc. (formerly Deeprock Minerals Inc.) (CSE: ACM) (OTCQB: 0VJ0) (the " Company " or the " Resulting Issuer ") is pleased to provide a corporate update as to its updated uses of funds updating the disclosure in its Listing Statement dated April 23, 2025 (the " Listing Statement ") which is publicly available under the Company's profile on SEDAR+ at www.sedarplus.ca, to better reflect the actual results of concurrent financing (" Concurrent Financing ") of approximately $4.6 million announced by the Company on March 25, 2025 and corresponding updated uses of funds.
The following provides an outline of the Company's principal purposes of funds, which updates the disclosure in the Listing Statement.
Principal Purposes of Funds
The Company intends to use the funds available to it upon completion of the Company's transactions (the "Transactions ") for listing (the "Listing") on the Canadian Securities Exchange (the "CSE") to further its business objectives. Specifically, the Company intends to use the funds available to it following compl etion of the Transactions over the next 12 months as follows:
| Use of Proceeds | Estimated Amount | Estimated Amount | Resulting Amount | Variation from maximum $5.0 million Concurrent Financing |
| Exploration [1] | ||||
| Borralha – Phase 1 | $492,600 | $492,600 | $492,600 | $0 |
| Borralha – Phase 2 [2] | - | $1,503,200 | $1,503,200 | $0 |
| Vila Verde – Phase 1 [3] | - | $226,000 | - | ($226,000) |
| Vila Verde – Phase 2 [4] | - | $1,066,835 | - | ($1,066,835) |
| Prepayment on 2027 Note [5] | $100,000 | $100,000 | $100,000 | $0 |
| 12 months general and administrative costs [6] | $182,000 | $182,000 | $180,000 | ($2,000) |
| Estimated transaction costs [7] | $250,000 | $250,000 | $250,000 | $0 |
| Investor Relation Services [8] | - | - | $885,500 | $885,500 |
| Additional working capital [9] | $496,035 | - | $231,866 | $231,866 |
| Totals: | $1,520,635 | $3,820,635 | $3,574,811 | ($245,824) |
Notes:
The Exploration is comprised of the recommended work programs for the Borralha Tungsten Project and the Vila Verde Tungsten Project, which are summarized in the Listing Statement. For more detail, please see the Borralha Technical Report and the Vila Verde Technical Report.
Phase 2 of the recommended work program for Borralha was estimated at $1,503,200.
The Company prioritises exploration of Borralha over Vila Verde, but once exploration of Borralha is addressed and if there are sufficient remaining funds then such funds may be allocated towards exploration at Vila Verde, which totals $226,000 for Phase 1 and $1,066,835 for Phase 2. As a portion of drilling expenses are expected to be settled in common shares, the Company expects that there will be sufficient available funds to begin exploration at Vila Verde.
The total cost for Vila Verde's Phase 2 work program is $2,279,000, but if drilling expenses are partly settled in common shares there may be sufficient funds available to commence Phase 2 of the Vila Verde work program following completion of Phase 1.
On Closing, ACM must pay $100,000 to Pan Iberia as a prepayment of the 2027 Note. The funds available is already net of payment of short term promissory notes, which are paid on Listing and are related to repayment of mineral property license fees and acquisition of the 1% NSR.
The 12 months general and administrative costs are expected to include $35,000 for audit and accounting expenses, $15,000 for regulatory, $45,000 for legal fees, $61,645 for investor conferences marketing fees and expenses, and $23,355 contingency for other general and administrative matters. The budget for management fees ($72,000) was reallocated to Borralha exploration as they pertain to license regulatory expenditure and other work in Portugal in respect of Borralha and the $60,000 budget for legal fees was adjusted to $45,000.
The Transaction costs includes $170,000 legal expenses, $20,000 for the subscription receipt and warrant agent and CDS, $40,000 for CSE listing fees, and $20,000 filing fees and contingency.
Since completion of the Listing, the Company has reallocated $885,500 fixed fees for investor relations services, as described in the Company's news release dated May 2, 2025. A further amount of up to $15,560 per month variable cost of investor relations was allocated as additional working capital as such services will be terminated to limit costs within budgeted amounts. A discussion of the rationale for the allocation to investor relations services is provided below.
Additional working capital will be deployed towards exploration of Borralha, then Vila Verde, and as working capital for expenses, which may include variable monthly expenses of up to $72,000 for market making ($6,000 per month) and other such expenses for investor relations services.
Prioritizing Borralha Exploration - Rationale for Changes to Uses of Proceeds
As previously disclosed in the Listing Statement (Section 3.3—Resulting Issuer), the Company is prioritizing exploration of Borralha as such exploration enables completion of a preliminary economic assessment (PEA) or prefeasibility study (PFS) for Borralha by the end of summer 2025. In particular, the above use of funds will enable the Company to complete Phase 1 and Phase 2 exploration of Borralha by the end of August 2025. Drilling is expected to commence at Borralha as soon as May 22, 2025.
Borralha is a brownfield past-producing advanced stage, near term production tungsten project which requires a proportionate approach to investor relations to adequately position the Company for the next stage of development. Accordingly, total funds of $885,500 (less than one fifth of the Concurrent Financing) were allocated for investor relations services to sufficiently position the Company's profile for more significant capital raising following completion of the PEA/PFS this summer to prepare for eventual project financing. Funds allocated to investor relations are aimed at direct interactions with potential capital providers and market participants in the critical metals and tungsten markets to fast track the development and construction the Borralha as a key western source of global tungsten production, highlighting the Company's profile as particularly well-placed to become a significant leader in global tungsten mineral exploration and development in Portugal. While global macro-economic and political factors are creating an excellent positive environment for the Company with tungsten prices rising 25% from $320/MTU (metric tonne unit) to $400/MTU over the past five months [Source: Fastmarkets, May 2025], tungsten remains a lesser known niche critical mineral in the capital markets community. Accordingly, the Company in consultation with its financial advisors, have developed a strategy to accelerate increased profile recognition in the lead up to completion of its PEA/PFS in the coming months. The Company is excited to begin the next chapter of development of its Borralha and Vila Verde Tungsten Projects and look forward to providing updates as drilling and further exploration progresses over the coming weeks and months.
The Company intends to spend the funds available to it on completion of the principal purposes described above. Nevertheless, there may also be circumstances where, for sound business reasons, a reallocation of funds may be necessary for the Company to achieve its short term and long term objectives. The Company may require additional funds in order to fulfill all of the Company's objectives, in which case the Company expects to either issue additional shares or incur indebtedness. It is anticipated that the available funds will be sufficient to satisfy the Company's objectives over the next twelve months.
New CFO
In addition, the Company is pleased to announce Sean Choi as its new Chief Financial Officer who replaces Keith Margetson who has stepped down effective May 14, 2025. The Company greatly appreciates all of Keith's efforts in completing the Transactions as Chief Financial Officer for the Company since April 2023, and Keith will remain a consultant to the Company to provide assistance as necessary going forward.
Mr. Choi has over 19 years of experience in public accounting and mining industry. During his career, he has served as Chief Financial Officer of Ecuador Gold and Copper Corp. and Northern Sun Mining Corp. which were both reporting issuers listed on the TSX Venture Exchange. He also served as Chief Financial Officer of York Harbour Metals (TSXV: YORK) from April 2014 to June 2024. Sean is a Chartered Professional Accountant and Chartered Accountant (Ontario) and holds a Bachelor of Administrative and Commercial Studies degree from the University of Western Ontario.
Options and RSUs
The Company also hereby announces the grant of 3,500,000 stock options (the " Options ") at an exercise price of $0.22 per share granted to directors, officers, employees and consultants of the Company pursuant to its omnibus equity incentive plan, which vests immediately and expire 5 years after the date of grant. The Company also announces that it has granted 4,097,760 restricted share units (" RSUs ") to directors, officers, employees and consultants of the Company pursuant to its omnibus equity incentive plan, which vests on September 16, 2025.
The Options and RSUs will be subject to a four month hold period in accordance with applicable Canadian securities laws and the policies of the Canadian Securities Exchange.
ABOUT Allied Critical Metals INC.
The Company is is a Canadian-based mining company focused on the expansion and revitalization of its 100% owned past producing Borralha Tungsten Project and the Vila Verde Tungsten Project in northern Portugal. Tungsten has been designated a critical metal by the United States and other western countries, as they are aggressively seeking friendly sources of this unique metal. Currently, China and Russia represent approximately 90% of the total global supply and reserves. The Tungsten market is estimated to be valued at approximately $5 - $6 billion USD and it is used in a variety of industries such as defense, automotive, manufacturing, electronics, and energy.
Please also visit our website at www.alliedcritical.com.
Also visit us at:
LinkedIn: https://www.linkedin.com/company/allied-critical-metals-inc/
X: https://x.com/@alliedcritical/
Facebook: https://www.facebook.com/alliedcriticalmetalscorp/
Instagram: https://www.instagram.com/alliedcriticalmetals/
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS
This news release contains "forward-looking statements", including with respect to the use of proceeds. Wherever possible, words such as "may", "would", "could", "should", "will", "anticipate", "believe", "plan", "expect", "intend", "estimate", "potential for" and similar expressions have been used to identify these forward-looking statements. These forward-looking statements reflect the current expectations of the Company's management for future growth, results of operations, performance and business prospects and opportunities and involve significant known and unknown risks, uncertainties and assumptions, including, without limitation, those listed in the Company's Listing Statement and other filings made by the Company with the Canadian securities regulatory authorities (which may be viewed under the Company's profile at www.sedarplus.ca ). Examples of forward-looking statements in this news release include, but are not limited to, statements regarding the proposed timeline and terms of the investor awareness campaign, anticipated benefits to Company from running the investor awareness campaign, and the performance of the investor relations services providers of the marketing services as contemplated in the marketing agreements, or at all. Should one or more of these risks or uncertainties materialize or should assumptions underlying the forward-looking statements prove incorrect, actual results, performance or achievements may vary materially from those expressed or implied by the forward-looking statements contained in this news release. These factors should be considered carefully, and prospective investors should not place undue reliance on the forward-looking statements. This list is not exhaustive of the factors that may affect any of the Company's forward-looking statements and reference should also be made to the Company's Listing Statement dated April 23, 2025 , and the documents incorporated by reference therein, filed under its SEDAR+ profile at www.sedarplus.ca for a description of additional risk factors. The Company disclaims any intention or obligation to revise forward-looking statements whether as a result of new information, future developments or otherwise, except as required by law.
The Canadian Securities Exchange does not accept responsibility for the adequacy or accuracy of this press release and has neither approved now disapproved the contents of this press release.
ON BEHALF OF THE COMPANY
"Roy Bonnell"
Chief Executive Officer and Director
For further information, contact:
Dave Burwell
VP Corporate Development
¿¿ daveb@alliedcritical.com
¿¿ 403-410-7907
Copyright (c) 2025 TheNewswire - All rights reserved.
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(TheNewswire)
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Vancouver, British Columbia - May 15, 2025 TheNewswire - Allied Critical Metals Inc. (CSE: ACM) (FSE: 0VJ0) (" Allied" or the " Company "), which is focused on its 100% owned past producing Borralha and Vila Verde tungsten projects in northern Portugal, is pleased to announce that its common shares now trade on the Frankfurt Stock Exchange under the trading symbol "0VJ0". The listing of Allied's shares on the Frankfurt Stock Exchange will broaden the shareholder base in Europe, increase trading activity, and build European investor awareness. The Company's common shares continue to be listed and posted for trading on the Canadian Securities Exchange under the symbol, "ACM".
The listing on the Frankfurt exchange comes at an advantageous time as Allied will be presenting its Portugal-based Borralha and Vila Verde tungsten projects at the Deutsche Goldmesse investor conference in Frankfurt on May 16 & 17, 2025. To learn more, please visit - https://deutschegoldmesse.online/
About Allied Critical Metals Inc.
Allied Critical Metals Inc. (CSE: ACM) is a Canadian-based mining company focused on the expansion and revitalization of its 100% owned past producing Borralha and Vila Verde tungsten projects in northern Portugal. Tungsten has been designated a critical metal by the United States and other western countries, as they are aggressively seeking friendly sources of the unique metal. Currently China and Russia represent 90% of the total global supply and reserves. The tungsten market is estimated to be valued at approximately $5 - $6 billion USD and it is used in a variety of industries such as defense, automotive, manufacturing, electronics, and energy.
For more information, please visit - www.alliedcritical.com
Also visit us at:
LinkedIn: https://www.linkedin.com/company/allied-critical-metals-inc/
X: https://x.com/@alliedcritical/
Facebook: https://www.facebook.com/alliedcriticalmetalscorp/
Instagram: https://www.instagram.com/alliedcriticalmetals/
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS
This news release contains "forward-looking statements", including with respect to the use of proceeds. Wherever possible, words such as "may", "would", "could", "should", "will", "anticipate", "believe", "plan", "expect", "intend", "estimate", "potential for" and similar expressions have been used to identify these forward-looking statements. These forward-looking statements reflect the current expectations of the Company's management for future growth, results of operations, performance and business prospects and opportunities and involve significant known and unknown risks, uncertainties and assumptions, including, without limitation, those listed in the Company's Listing Statement and other filings made by the Company with the Canadian securities regulatory authorities (which may be viewed under the Company's profile at www.sedarplus.ca ). Examples of forward-looking statements in this news release include, but are not limited to, statements regarding the proposed timeline and terms of the investor awareness campaign, anticipated benefits to Company from running the investor awareness campaign, and the performance of the investor relations services providers of the marketing services as contemplated in the marketing agreements, or at all. Should one or more of these risks or uncertainties materialize or should assumptions underlying the forward-looking statements prove incorrect, actual results, performance or achievements may vary materially from those expressed or implied by the forward-looking statements contained in this news release. These factors should be considered carefully, and prospective investors should not place undue reliance on the forward-looking statements. This list is not exhaustive of the factors that may affect any of the Company's forward-looking statements and reference should also be made to the Company's Listing Statement dated April 23, 2025 , and the documents incorporated by reference therein, filed under its SEDAR+ profile at www.sedarplus.ca for a description of additional risk factors. The Company disclaims any intention or obligation to revise forward-looking statements whether as a result of new information, future developments or otherwise, except as required by law.
The Canadian Securities Exchange does not accept responsibility for the adequacy or accuracy of this press release and has neither approved now disapproved the contents of this press release.
ON BEHALF OF THE COMPANY
"Roy Bonnell"
Chief Executive Officer and Director
For further information, contact:
Dave Burwell
VP Corporate Development
¿¿ daveb@alliedcritical.com
¿¿ 403-410-7907
Copyright (c) 2025 TheNewswire - All rights reserved.
News Provided by TheNewsWire via QuoteMedia
The Canadian Securities Exchange ("CSE" or "the Exchange") today announced market statistics for April 2025.
April 2025 Operating Statistics
"The month of April was highlighted by the listing of SNDL Inc., one of the most advanced cannabis companies to list on the Canadian Securities Exchange," said Richard Carleton, CEO of the CSE. "SNDL immediately joined the CSE's Senior Tier, which made it accessible to a broader range of institutional investors and index funds. The Senior Tier, which was introduced in 2023, makes the CSE significantly more attractive to larger issuers seeking a senior listing alternative in Canada."
Summit on Responsible Investment
The CSE is pleased to present the third annual Summit on Responsible Investment (SoRI) on June 5, 2025. After holding last year's virtual conference, we will be back in person in Kelowna, BC for this year's conference. The theme of SoRI 2025 is Creating Value, Stewarding Change and it will feature a series of keynote speakers and presentations from innovative companies in industries including cleantech, renewable energy and life sciences. Attendees will learn more about the future of sustainable finance and the latest trends in ESG investing. The day will conclude with a rooftop networking reception. Please click here to register for SoRI 2025 and to find out more about the speakers and companies participating in the conference. Proceeds from the conference will be donated to the Central Okanagan Food Bank.
What's On at the CSE
The CSE is pleased to be participating in the 10th annual Current Trends in Mining Finance conference, taking place in New York City on May 19-21. The central theme of this year's show is Navigating Risks of an Uncertain and New Reality. Robert Cook, the CSE's Senior Vice President of Market Development, will be speaking on a roundtable on May 20 titled "How Do Small Mining and Exploration Companies Attract Institutional and Retail Investors?"
Richard Carleton will be in Australia next week and will be speaking at the Stockbrokers and Investment Advisers Association annual conference in Sydney on May 20. He will join representatives from the brokerage community, the National Stock Exchange of Australia and the Australian Securities Exchange on a panel titled "Are Australia's Capital Markets Broken?"
The Okanagan Angel Summit is focused on training entrepreneurs to raise capital and build relationships with prospective angels and other investors. It culminates in a live pitch competition with an investment of $180,000 granted to the winner. The seventh annual competition takes place on May 22 in Kelowna, BC, and the CSE is pleased to be a sponsor. In addition to the pitch competition, the event features a panel discussion and networking opportunities.
The CSE is excited to be sponsoring and participating in THE Mining Investment EVENT, an annual mining conference in Quebec City, taking place on June 3-5. The invitation-only, Tier 1 event features more than 100 mining companies active around the world and includes corporate presentations, panel discussions, one-on-one meetings and networking events.
The Benzinga Cannabis Capital Conference returns to Chicago on June 8-10, and the CSE is pleased to be once again participating in this flagship cannabis investing and branding event. The conference features an impressive line-up of cannabis industry executives and other thought leaders. It also includes many affiliate events and a rooftop party to close things off.
New Listings in April 2025
LiTHOS Group Ltd. (LITS)
SNDL Inc. (SNDL)
Allied Critical Metals Inc. (ACM) – Fundamental Change
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416-367-7360
richard.carleton@thecse.com
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/252322
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He also tackled Australia’s growing relationship with the US amidst trade tensions and how he sees the the countries’ partnership progressing.
Burfield warned of vulnerabilities in today’s concentrated supply chains, with critical minerals production and refining largely dominated by a few countries.
The commissioner cited the current global mining industry, referring to how production and refining has been concentrated and “extremely vulnerable” to trade disruption.
He emphasised the risk of price manipulation, export restrictions and instability in markets like lithium, where China currently handles approximately 70 percent of refining.
Slide from Burfield highlighting Australia's vast resource potential.
Image via Georgia Williams.
Australia, he argued, offers a secure, transparent and progressive regulatory landscape.
Backed by world-class workforce expertise and technologies, Australia remains attractive to international partners seeking resilient, diversified sources of supply.
“It doesn't sound like much, but in a sector that is growing at 300 percent, a 10 percent reduction in dependence can be quite significant for this reason, and many others, international allies and like minded partners are increasingly looking to Australia as a reliable and secure supplier permits that they need to grow issues in the future.”
The commissioner regarded Australia’s workforce and a deep venture, world class engineering, technology and support technology companies as essential contributors to its competitive advantage.
“In fact, you'll hear accents like mine and many that are much higher across the boardrooms of most of the world's mining and engineering companies,” he said.
According to him, Australia’s mining, engineering and technology sector contributes a quarter of a trillion dollars to its overall economy. These also employ over 1.1 million people in Australia.
Metals-wise, he said that the country plays a role in essential defense, advanced technology and energy security as the top producer of bauxite, lithium and rutile.
He added that Australia is among the top five producers of cobalt, manganese and rare earths like tasman, zircon and zinc.
A stable political system, a reliable and transparent regulatory environment, dependable contract legal environment, excellent environmental, social governance structures and supportive government policies, incentives and programs were also cited as Australia’s strengths, saying that it is among the most progressive countries in these aspects.
“The Australian government (continues) to help develop strategically important critical minerals projects by providing targeted and proportionate support de-risk projects and help overcome distortions,” Burfield said.
He mentioned Australia’s critical minerals facility of about AU$4 billion, which he said is probably debt laden.
In April, the Albanese Government made a pledge of an initial investment of AU$1.2 billion in the reserve upon re-election, including through an AU$1 billion increase in the existing critical minerals facility.
“This will take our total investment in the Facility to $5 billion, providing vital support to private sector and international partners with the upfront capital costs of new projects,” the government said.
In addition to this and other financing options, Burfield cited the AU$7 billion critical minerals production tax incentive, which was passed on February 12.
The incentive will provide a refundable tax credit on 10 percent of eligible costs associated with the production of critical minerals and rare earths, aligning with Australia’s goal of developing its critical minerals sector.
Burfield also highlighted the National Reconstruction Fund, which was launched in September 2023.
“(This aims) to drive Australia's ambitions in advanced manufacturing, and has a billion dollar facility eligible for Australian minerals projects.”
In the midst of his presentation, Burfield said that the intent to build a critical minerals reserve is Australia’s “own version of stock market,” similar to the US.
He said that in terms of a relationship with the US, Australia has already established ourselves as a trusted partner.
“This is demonstrated in several ways, particularly through the decision to consider Australia as a domestic source under Title Three of the Defensive Production Act (DPA), allowing Australian companies to be eligible for US government funding to support our manufacturing and industrial based capacities.”
In 2023, Australia was lined up as a “domestic source” under title three of the DPA, a change part of the broader Australia and US security partnership that aims to strengthen supply chains and industrial bases for both countries.
Australia currently produces 29 of the 50 minerals listed on the US critical minerals list, with the ability to supply up to 36.
Burfield said 49 projects have been identified as shovel-ready, pending private investment and off-take agreements. These projects are believed to “help fuel the growth of the US economy, its manufacturing sector and to drive new industries.”
“(Our collaboration (with the US) is built on these resilient, high quality, rural mineral supply chains and our close industry and government tasks,” he continued. “For over 100 years, (the collaboration stood side by side through war, peace and profound global change. So it goes without saying that Australia could commit a strategy which provides an enduring, long term policy framework to grow our critical middle sectors has been built to reflect our shared and mutual interests.”
Burfield assured the public that Australia and the US are working closely to strengthen supply chains to ensure that specific strategic projects get the support that they need.
Towards the end, he said that plans are in place to develop projects, including government awards, joint ventures and binding off takes. Both countries are expecting that these moves will play a crucial role in terms of supply chains for the defense and battery sectors and beyond.
“We’re really pleased to support these ambitions as a country and provide access to the resources that Australia needs to develop national prosperity and national security.”
Don’t forget to follow us @INN_Australia for real-time news updates!
Securities Disclosure: I, Gabrielle de la Cruz, hold no direct investment interest in any company mentioned in this article.
West High Yield (W.H.Y.) Resources Ltd. (TSXV: WHY) (FSE: W0H) (the "Company" or "West High Yield") announces the receipt of proceeds from the exercise of certain warrants (the "Warrants") of the Company.
Two holders of Warrants (the "Warrantholders") exercised an aggregate of 280,000 Warrants resulting in the issuance of 280,000 common shares of the Company (each, a "Warrant Share"). The specific Warrants held and exercised by the Warrantholders were exercisable at a price of CAD$0.30 per Warrant Share, resulting in gross proceeds to the Company in the amount of CAD$84,000.00 upon such exercise. The Warrants exercised by the Warrantholders were issued to the Warrantholders, among others, as part of a private placement offering of the Company that closed on November 14, 2024.
About West High Yield
West High Yield is a publicly traded junior mining exploration and development company focused on acquiring, exploring, and developing mineral resource properties in Canada. Its primary objective is to develop its world-class Record Ridge critical mineral (magnesium, silica, and nickel) deposit using green processing techniques to minimize waste and CO2 emissions.
The Company's Record Ridge critical mineral deposit located 10 kilometers southwest of Rossland, British Columbia has approximately 10.6 million tonnes of contained magnesium based on an independently produced National Instrument 43-101 - Standards of Disclosure for Mineral Projects ("NI 43-101") Preliminary Economic Assessment technical report (titled "Revised NI 43-101 Technical Report Preliminary Economic Assessment Record Ridge Project, British Columbia, Canada") prepared by SRK Consulting (Canada) Inc. on April 18, 2013 in accordance with NI 43-101 and which can be found on the Company's profile at https://www.sedarplus.ca.
Qualified Person
Rick Walker, B.Sc., M.Sc., P.Geo., the Company Geologist is a Qualified Person as defined in NI 43-101 and has reviewed and approved the technical information in this press release.
Contact Information:
West High Yield (W.H.Y.) RESOURCES LTD.
Frank Marasco Jr., President and Chief Executive Officer
Telephone: (403) 660-3488
Email: frank@whyresources.com
Barry Baim, Corporate Secretary
Telephone: (403) 829-2246
Email: barry@whyresources.com
Cautionary Note Regarding Forward-looking Information
This press release contains forward-looking statements and forward-looking information within the meaning of Canadian securities legislation. The forward-looking statements and information are based on certain key expectations and assumptions made by the Company. Although the Company believes that the expectations and assumptions on which such forward-looking statements and information are based are reasonable, undue reliance should not be placed on the forward-looking statements and information because the Company can give no assurance that they will prove to be correct.
Forward-looking information is based on the opinions and estimates of management at the date the statements are made and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking information. Some of the risks and other factors that could cause the results to differ materially from those expressed in the forward-looking information include, but are not limited to: general economic conditions in Canada and globally; industry conditions, including governmental regulation; failure to obtain industry partner and other third party consents and approvals, if and when required; the availability of capital on acceptable terms; the need to obtain required approvals from regulatory authorities; and other factors. Readers are cautioned that this list of risk factors should not be construed as exhaustive.
Readers are cautioned not to place undue reliance on this forward-looking information, which is given as of the date hereof, and to not use such forward-looking information for anything other than its intended purpose. The Company undertakes no obligation to update publicly or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable law.
This press release does not constitute an offer to sell or a solicitation of an offer to buy any securities in the United States. The securities of the Company will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") and may not be offered or sold within the United States or to, or for the account or benefit of U.S. persons except in certain transactions exempt from the registration requirements of the U.S. Securities Act.
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/254991
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