Tungsten Mining's strategic acquisition announcement

Tungsten Mining NL (ASX:TGN) has announced an agreement to acquire the Mt Mulgine Project assets from Minjar Gold Pty Ltd. This acquisition includes tenements, mining information, water licences, and contracts, with a purchase price of $3.3 million. TGN, already holding tungsten and molybdenum rights at the site, will assume full ownership subject to Ministerial consent under the Mining Act 1978 (WA).

Tungsten Mining's acquisition and future prospects

Tungsten Mining NL's acquisition of the Mt Mulgine Project assets marks a significant milestone in its expansion strategy. The $3.3 million deal includes key assets such as tenements and mining rights, enhancing TGN's exploration capabilities. Located in the Murchison Region of Western Australia, the project is crucial for TGN's growth, given its existing rights to tungsten and molybdenum. The company aims to explore other mineral opportunities at the site, including gold, silver, and copper. This strategic acquisition aligns with TGN's goal to become a major player in the tungsten market, leveraging its substantial resource inventory for future development. Completion of the acquisition is dependent on obtaining necessary Ministerial consent, with no expected changes to the company's management or need for shareholder approval.

Executive insights on the Mt Mulgine acquisition

The acquisition of the Mt Mulgine Project is a strategic step for Tungsten Mining, strengthening our position in the resource sector. This transaction allows us to fully explore and develop the potential of the tenements, not only for tungsten but also for other valuable minerals. We are committed to unlocking shareholder value and advancing our projects efficiently.