(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.
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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.
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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.
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.
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