Tungsten's 557% Run Meets a District-Scale Critical-Minerals Story in British Columbia

Issued on behalf of GoldHaven Resources Corp.

Western governments are scrambling to rebuild non-Chinese tungsten supply as prices break century highs -- and a 37,000-hectare project in BC just put itself in the conversation

Equity Insider News Commentary

VANCOUVER, BC, May 26, 2026 /CNW/ -- Tungsten has done something almost no other metal has done this decade: ammonium paratungstate (APT) prices have surged roughly 557% since China added tungsten products to its export control list in February 2025, pushing the European benchmark toward US$2,250 per metric ton unit by March 2026^[1].

The metal has outpaced gold and copper, and with China still controlling more than 80% of global tungsten production^[2], every Western government and defense contractor is suddenly trying to figure out the same thing -- where the next non-Chinese supply actually comes from.

That question is now driving capital toward GoldHaven Resources Corp. (CSE: GOH) (OTCQB: GHVNF) (FSE: 4QS), Almonty Industries Inc. (NASDAQ: ALM), Guardian Metal Resources PLC (NYSE American: GMTL), American Tungsten Corp. (OTCQB: TUNGF), and Energy Fuels Inc. (NYSE American: UUUU).

The policy backdrop is just as aggressive as the price chart. Canada's enhanced 30% Critical Mineral Exploration Tax Credit was expanded to include tungsten under Bill C-15, which received Royal Assent on March 26, 2026, and applies to flow-through agreements entered into after November 4, 2025 and on or before March 31, 2027.

South of the border, the U.S. Department of Defense Federal Acquisition Regulation Supplement (DFARS 252.225-7052) restricts the acquisition of tungsten metal powder and tungsten heavy alloy that has been mined, refined, separated, melted, or produced in China, Russia, Iran, or North Korea, with the full mine-to-finished-material restriction taking effect on January 1, 2027^[3]. Capital is moving toward operators with land in friendly jurisdictions, drill-ready targets, and the geology to back it up -- not toward concept stage stories five years out.

GoldHaven Highlights Strategic Tungsten and Indium Exposure at Magno

On May 25, 2026, GoldHaven issued a release highlighting the growing strategic significance of tungsten and indium at its district-scale Magno Project in northern British Columbia, situated within the Cassiar District and covering more than 37,000 hectares of ground prospective for carbonate replacement deposit (CRD), skarn, and porphyry mineralization.

"Global markets are increasingly recognizing the strategic importance of securing Western sources of tungsten and other critical minerals amid growing supply chain concerns," said Rob Birmingham, CEO of GoldHaven. "We believe Magno represents a district-scale critical minerals opportunity combining tungsten-bearing skarn systems, high-grade silver-zinc-lead CRD mineralization, and elevated indium values within one of Canada's premier mining jurisdictions. As we advance airborne geophysics, and 2026 drill targeting, we believe Magno continues to demonstrate the characteristics of a large-scale multi-phase mineralizing system with significant critical minerals potential."

The technical case at Magno is built on four data points that matter for tungsten investors. First, multiple tungsten-bearing skarn targets have been identified across the property, with 2025 surface sampling returning values up to 6,550 ppm tungsten. Second, historical drilling and sampling at the Kuhn Zone reportedly returned intervals including 13.0 metres grading 0.55% WO₃, 4.0 metres grading 1.32% WO₃ and 0.26% MoS₂, and 2.5 metres grading 0.95% WO₃.

Third, elevated indium values of up to 334 ppm have been identified within sphalerite-bearing mineralization -- another China-dominated critical mineral with strategic significance for semiconductor and solar applications. Fourth, the project carries broader porphyry copper-molybdenum upside on top of its tungsten and silver-zinc-lead profile.

The historical results referenced above were obtained from publicly available BC government assessment reports and have not been independently verified by GoldHaven or the Qualified Person, though management notes the data is being used to define and guide ongoing geological modelling and targeting work. The 2026 program is designed in part to confirm these historical results.

With airborne geophysics already underway, GoldHaven is advancing permitting and exploration planning for a 2026 campaign expected to include drill testing across multiple high-priority tungsten-bearing skarn systems, silver-lead-zinc CRD zones, and porphyry copper-molybdenum targets identified across the project. The Magno Project remains at an exploration stage and additional work is required to determine the extent and economic significance of identified mineralization, but the package of attributes -- district scale, multiple critical minerals, BC jurisdiction, drill-defined historical zones -- fits cleanly into the criteria Western buyers are searching for.

A full breakdown of the Magno target package, the 2026 drill plan, and the broader GoldHaven investor story is available here at Equity Insider.

In the same release, GoldHaven also announced a one-month digital marketing services agreement with Machai Capital Inc. for an aggregate fee of $200,000 plus GST, payable from working capital and subject to CSE approval. The engagement is restricted to public awareness services and does not include investor relations or market-making.

The technical and scientific information has been reviewed and approved by Raymond Wladichuk P.Geo., a non-independent Qualified Person under NI 43-101 and a consultant of the Company.

In other industry developments:

Almonty Industries Inc. (NASDAQ: ALM) reported first quarter 2026 revenue of US$25.4 million on May 11, 2026 -- a 221% year-over-year increase driven by a sharp rise in the spot price of tungsten APT and continued strong operational performance at the Panasqueira Mine in Portugal^[4]. The quarter also marked the formal commissioning ceremony at the Sangdong Tungsten Mine in Gangwon Province, South Korea, on March 17, 2026, marking the completion of development and the transition of one of the world's largest and highest-grade tungsten deposits toward commercial operations.

"Sangdong plays a critical role in efforts by the United States, the European Union and Korea to diversify away from the China-dominated market, which currently supplies more than 80% of the world's tungsten," said Lewis Black, CEO of Almonty. Phase 1 of Sangdong is designed to process approximately 640,000 tonnes of ore annually for roughly 2,300 tonnes of tungsten concentrate, with a planned Phase 2 expansion in 2027 doubling output to roughly 4,600 tonnes per year -- enough to potentially supply approximately 40% of global tungsten demand outside China.

Guardian Metal Resources PLC (NYSE American: GMTL) provided a Pre-Feasibility Study progress update for its 100%-owned Pilot Mountain tungsten project in Nevada on May 6, 2026. The PFS is being supported by a US$6.2 million U.S. Department of War Defense Production Act Title III investment in Guardian Metal's wholly-owned subsidiary, Golden Metal Resources (USA) LLC^[5]. Required drilling for resource evaluation at the Desert Scheelite and Garnet Zones is complete, and a mine Plan of Operations is targeted for submission to the BLM in August 2026.

"We are very pleased to report strong progress at Pilot Mountain," said Oliver Friesen, CEO of Guardian Metal. The company completed its U.S. listing on the NYSE American on March 20, 2026, giving American investors direct access to one of the largest undeveloped tungsten deposits in the United States. Metallurgical work indicates a flotation circuit producing scheelite concentrate with potential silver and zinc by-products -- a profile that, like Magno, brings polymetallic optionality alongside the primary tungsten thesis.

For more on how GoldHaven stacks up against the peer set as the Western tungsten thesis builds, see the full investor briefing here at Equity Insider.

American Tungsten Corp. (CSE: TUNG) (OTCQB: TUNGF) confirmed high-grade tungsten mineralization from initial Zero Level underground drilling at its IMA Mine in Lemhi County, Idaho on May 5, 2026. Highlight intercepts included 17.8 feet grading 0.435% WO₃ and 1.16 oz/t Ag, 3.4 feet grading 1.02% WO₃ and 0.84 oz/t Ag, and multiple tungsten-bearing polymetallic veins associated with the Main Ima vein system and a newly identified western vein.

"These initial underground drilling results from the Zero Level are highly encouraging and validate our approach to revitalizing the Ima Mine," said Ali Haji, CEO of American Tungsten. "Intersecting multiple high-grade tungsten-bearing veins, including both historical and newly identified structures, underscores the significant untapped potential of the property and reinforces our confidence as we advance our Phase 1 exploration program." The IMA Mine is a past-producing underground tungsten property that yielded approximately 199,449 metric ton units of WO₃ between 1945 and 1957, with the historical tungsten-silver vein system also identified as containing a silver credit that management expects could help offset future operating costs -- putting American Tungsten in the same brownfield, past-producing category as several of the Western tungsten reset candidates.

Energy Fuels Inc. (NYSE American: UUUU) reported its first quarter 2026 results on May 6, 2026, marking the leadership transition from longtime CEO Mark Chalmers to newly appointed President and CEO Ross Bhappu. Energy Fuels is positioning itself as a vertically integrated U.S. producer of uranium, rare earth elements, and other critical minerals, with operations spanning the White Mesa Mill in Utah and a growing rare earth processing footprint.

"My immediate focus is disciplined execution -- continuing to align our global teams, advancing development projects with a strong emphasis on schedule certainty and capital efficiency, and strengthening the operational foundation required to support sustained, long-term growth as a vertically integrated critical materials company," said Bhappu. Energy Fuels offers investors a producing-asset window into the broader U.S. critical minerals build-out -- the same thematic GoldHaven is now positioning Magno against, just at a different point on the development curve.

The thread running through all five names is the same: capital is repricing tungsten and adjacent critical minerals around a single assumption -- that Chinese supply cannot be counted on, and that the Western mine pipeline has to be rebuilt from the ground up. Producers like Almonty are already monetizing the price move. PFS-stage operators like Guardian Metal are converting policy support into bankable engineering. Past-producing brownfields like American Tungsten and the broader U.S. tungsten reset are working back into resource definition. And exploration-stage, district-scale projects like GoldHaven's Magno -- with tungsten, silver-zinc-lead CRD, indium, and porphyry copper-molybdenum targets across a single 37,000-hectare property -- are exactly the kind of land package that fits the Western buyer profile if 2026 drilling validates the historical work.

With airborne geophysics already in the air and drill targeting in design, the next twelve months at Magno will tell investors whether GoldHaven turns the policy-supported environment into actual delineation. The tungsten price chart has already made the case -- the full GoldHaven story is available here at Equity Insider.

CONTINUED… Read this and more news for GoldHaven Resources at: https://equity-insider.com/goh-landing/.

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Article Sources:
1. https://www.streetwisereports.com/article/2026/03/24/tungsten-outpaces-gold-and-copper-as-global-supply-tightens.html
2. https://www.mining.com/almonty-starts-operations-at-sangdong-tungsten-mine-in-south-korea/
3. https://www.ecfr.gov/current/title-48/chapter-2/subchapter-H/part-252/subpart-252.2/section-252.225-7052
4. https://finance.yahoo.com/markets/commodities/articles/almonty-industries-reports-first-quarter-220800670.html
5. https://www.accessnewswire.com/newsroom/en/metals-and-mining/guardian-metal-resources-plc-announces-pilot-mountain-pre-feasibility-progress-up-1164124

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