Pinnacle Minerals acquires five tungsten projects in Utah

Pinnacle Minerals Limited has entered into a binding agreement to acquire 100% of APT Tungsten Limited, granting it rights to five tungsten projects in Utah, USA. The acquisition includes 199 mining claims covering approximately 4,000 acres, featuring the Hero, Trout Creek, Lone Pine, Desert Flower, and Super W projects.

The transaction is structured as an all-scrip deal involving shares and performance shares. To support the acquisition, Pinnacle is conducting a placement of up to $1.3 million, with American Tungsten & Antimony (AT4) expected to subscribe for approximately $412,066, making them a substantial shareholder of roughly 5%.

The move targets the US critical minerals sector. Tungsten is essential for defense, aerospace, and advanced manufacturing. The acquisition aligns with upcoming US defense regulations effective January 1, 2027, which restrict the use of tungsten mined or processed in China, Russia, North Korea, or Iran.