Western Star Resources Inc. has agreed to acquire 14 contiguous lode mining claims and secured a long-term surface use agreement for the Eagle Point tungsten project in Hidalgo County, New Mexico.

The transaction adds 14 lode claims covering the western extension of the mineralized skarn system, expanding the project footprint beyond the 24 lode claims originally acquired in June 2026. The accompanying surface agreement provides exclusive mineral operations rights across 640 acres for an initial five-year term, with four five-year renewal options extending up to 25 years.

Consideration for the acquisition comprises a cash payment of C$150,000, the issuance of 4,000,000 common shares, and a 1.5% net smelter returns royalty on the new claims. Western Star holds the right to repurchase 1.0% of the royalty for a one-time cash payment of C$1,000,000. Closing remains subject to customary conditions and regulatory approvals.

The newly acquired ground incorporates historical trenches and excavations from 1950s government exploration reports that sit along the prospective limestone-intrusive contact. Western Star has already expanded its ongoing unmanned aerial vehicle magnetic survey to cover the enlarged land package as a seamless dataset. Data acquisition for the property-wide survey is expected to conclude in September 2026.

“Securing the western extension with the surface rights already in hand is exactly how we want to grow Eagle Point; decisively, and with long-term surface access locked in. The New Claims contain part of the historical trench network that helped define this system, and they have never been touched by modern exploration. With the drone survey expanded while it is still in the air, the entire system will be imaged as one seamless dataset”

— Blake Morgan, President and CEO

Following the completion of geophysical surveys, geological mapping, and sampling across the expanded property, Western Star is planning a maiden drill program at Eagle Point.

Read the full announcement: Western Star Secures Long-Term Surface Rights And Expands Eagle Point Tungsten Project To Support Future Development