Pioneer Tungsten Project Acquisition

option agreement signed

Red Mountain Mining has signed an exclusive 30-day option agreement to acquire the Pioneer Tungsten Project in southwest Montana, a 2,000-hectare package adjoining tungsten assets held by major producer Almonty Industries. The project covers three prospects—Greenstone, Mammoth and Lost Creek—hosted in garnet skarns along the Mount Torrey Batholith, with historical drilling showing continuous tungsten mineralisation at grades comparable to nearby deposits. The company expects to define shallow drill targets rapidly and strengthen its critical minerals portfolio to benefit from near-record tungsten prices and U.S. efforts to secure domestic supply.