Vancouver, British Columbia — January 15, 2026 — Leads & Copy — Western Star Resources Inc. (CSE:WSR) (OTC:WSRIF) has amended the terms of its previously announced non-brokered private placement, initially disclosed on October 20, 2025.
Under the amended terms, the Company plans to complete a non-brokered private placement of up to $1,500,000 through the issuance of up to 10,000,000 units at a price of $0.15 per Unit. Each Unit will consist of one common share of the Company and one common share purchase warrant.
Each Warrant will entitle the holder to acquire one additional common share at a price of $0.30 for a period of 24 months from the date of issuance.
The company intends to use the net proceeds of the private placement to define high-priority drill targets at its Western Star Project and advance its critical metals initiative in Nevada, as well as for general working capital and market awareness purposes.
The Company also announced it completed the acquisition of the past-producing Rowland tungsten property in Nevada, pursuant to the previously announced option agreement, under which the Company acquired from two vendors all of their rights, title and interest in and to an existing option agreement regarding the Rowland property. The transaction was completed in accordance with the policies of the Canadian Securities Exchange, including CSE Policy 6 – Distributions, Acquisitions and Corporate Changes. The Company issued an aggregate of 1,000,000 common shares of the Company at a deemed price of $0.20 per share to the two vendors on closing. All securities issued in connection with the transaction are subject to a statutory hold period of four months and one day from the date of issuance. Please see the Company’s news release dated November 5, 2025 for more details regarding the transaction.
Key Highlights from Past Producing Rowland Property include a high-grade Tungsten project with values of 3.38% WO₃ reported and a road accessible past producing mine, located in the historical Jarbidge mining district, located about 6 miles southwest of Jarbidge.
Rocks exposed in the area are limestones, shales, and quartzites intruded by a quartz monzonite stock. Adjacent to the intrusive the shales and limestones have been extensively metamorphosed to skarn and hornfels in zones as much as 100 feet wide.
Mine workings consist of two shallow shafts and several hundred feet of open cuts. Scheelite occurs as coarse crystals and is also finely disseminated with molybdenite, powellite, pyrite, chalcopyrite, and limonite in a garnet, epidote, quartz, and calcite skarn.
In 1943, W. J. Rowland shipped 4.5 tons of ore containing 3.38 percent WO to Metals Reserve Co During 1954-56 about 1,000 tons of ore containing 0.5 to 1.0 percent WO was produced.
Why The Past Producing Rowland Property is a Strategic Asset:
Tungsten is indispensable for defense, aerospace, energy, and semiconductor industries. The U.S. currently has no domestic commercial production, making it highly dependent on imports, with ~85% of global supply controlled by China.
Identified in the 1940s, this project has identifiable mineralization but remain under-explored using Modern exploration techniques.
Recent Executive Orders prioritize fast-tracking domestic tungsten projects, with federal grants and defense-sector support available for qualifying assets.
Western Star Property/Discovery Property 2 is located in the Revelstoke – Mining District, British Columbia and consists of 4,740 ha (46.4 Km2) – District Scale which is 100% Owned and permitted and features CRD – Carbonate Replacement Deposit; precious metals rich with over 6.2 km Mineralized strike length. Limited results to date, by surficial prospecting in well exposed areas shows 246.76 g/t silver, 1 to 50.1% lead, 8.22 g/t Au, 3.68% Cu – High Grade Samples.
The Western Star Property hosts twelve MINFILE showings: Black Bear, Lardeau-Goldsmith, Hunter, Wide West, Goodenough, Kitsap, Banner, Daffodil, Royal, Morning Star, Lexington, and Alma 2.
The Alma showing consists of intermittent occurrences of massive bands, streaks and lenses of galena-sphalerite in crosscutting quartz-carbonate veins within siderite alteration zones.
The Kitsap showing along the northwest trending ridge, early prospectors/miners, have pitted and drifted on the Kitsap showing. Limestone hosting galena-sphalerite mineralization is encountered. Sericite alteration zone of phyllite is approximately 4 m to the west of contact with limestone, and nearly 30 m wide on the eastern contact with limestone2.
The Lardeau-Goldsmith showing is reported to have high silver values a 15-metre adit was driven in 1899. It is inferred that mineralization is similar to nearby showings consisting of pyrite, galena and sphalerite2.
At the Lexington showing a 3.6-metre-wide quartz vein contains 1.5 metres of massive galena in the footwall which assayed high silver values. Mineralization in a series of occurrences along strike to the southeast consists of intermittent lenses of galena-sphalerite in crosscutting fractures and quartz-carbonate veins within siderite or ankerite alteration zones
The Morning Star contains numerous quartz and calcite stringers is a vein 2.1 metres wide striking 310 to 320 degrees, dipping 62 to 75 degrees east. The vein has been traced by numerous open cuts and trenches. A crosscut adit was begun in 1914 to cut the vein at a vertical depth of 9 metres and reached 21 metres length2.
Banner Showing is 32-metre adit in 1900 with the object of cutting the vein at depth. Mineralization consists of intermittent lenses of galena-sphalerite in crosscutting fractures and quartz-carbonate veins within siderite or ankerite alteration zones2.
The Black Bear showing consists of massive pyrite with minor galena-sphalerite in quartz gangue. Float in a boulder train is of siliceous pyritic dolomite with disseminated magnetite and traces of galena and sphalerite. In 1896, a shaft was sunk 3 metres deep.
The mineralization at the Royal showing consists of galena in two parallel quartz veins. Mineralization in a series of occurrences along strike to the southeast consists of intermittent lenses of galena-sphalerite in crosscutting fractures and quartz-carbonate veins within siderite or ankerite alteration zones.
The mineralization at the Daffodil showing is similar to the Royal showing where galena is in two parallel quartz veins. Mineralization in a series of occurrences along strike to the southeast intermittent lenses of galena-sphalerite in crosscutting fractures and quartz-carbonate veins within siderite or ankerite alteration zones.
The Goodenough showing. Mineralization consists of galena-sphalerite-(chalcopyrite) in concordant to irregular quartz-chlorite veins in shears at the limestone-phyllite contact and in fractured and/or brecciated ankeritic limestone over a strike length of 160 metres
The Hunter-Trapper showing consists of intermittent disseminated to massive galena-sphalerite in a brecciated quartz-siderite-chlorite vein at the limestone contact with phyllite. A chip sample across a 1-metre-wide quartz-siderite pod with massive to scattered sphalerite-galena analysed greater than 102.8 g/t silver, 3.08 % lead and 4.38 % zinc.
The Wide West Showing is massive to disseminated bands and stringers of galena, sphalerite, and pyrite with minor chalcopyrite form pods in a series of 0.5- to 3m in width stratabound lenses within limestone beds, typically forming at contacts with sericite altered phyllite2.
The 100% Discovery Property consists of three known showings: Completing the full Western Star Package(press release July 11, 2025).
The Glenside Showing is of three quartz and galena veins can be traced from Lardeau Creek to a point about 300 metres distant where they unite in one large vein which can be traced for kilometres. At a point about 150 metres below where the three veins unite, a tunnel is in a distance of 24 metres, on the centre small vein.
The Muskateer Showing is on the east side of Ferguson Creek, a southerly flowing tributary of Lardeau Creek. The Muskateer Showing have disseminations and large pockets of massive pyrite and pyrrhotite in phyllite. The Muskateer showing is underlain by folded, deformed and schistose rocks of the middle member of the Jowett Formation. The unit contains deformed argillite and limestone, and brown, grey and greenish tuff and volcanic breccia – some of which contains fragments of limestone.
The Copper Mountain Showing was discovered in the early 1900s, traces of copper were located in debris below a cliff of chlorite schist, above an alpine glacier near the head of Surprise Creek. By 1912, a 6.7 metres long adit had been driven into the schist at 1844 metres elevation. The Copper Mountain showing is underlain by folded, deformed and schistose rocks of the Index Formation.
The Property is underlain by the Badshot Formation that is composed of a thick Cambrian limestone that is a distinctive marker horizon in the Trout Lake area. It is underlain by Hamill Group quartzite, and it is overlain by a younger assemblage of limestone, calcareous, graphitic and siliceous argillite and siltstone, sandstone, quartzite and conglomerate, and also mafic volcanic flows, tuffs and breccias, all of which belong to the Lardeau Group.
In 2012 Mineral Mountain Resources Ltd undertook a 1662 line km AEROTEM airborne geophysical survey undertaken which part appears to cover the part of the Discovery Property. The 2012 geophysics appears to illustrate natural extension from the Western Star Property to the Discovery Property2.
With over 6kms of strike, drill permits in place. The Western Star team is eager to press ahead towards its maiden drill program.
As proposed, the issuance of securities pursuant to the private placement would exceed 100% of the Company’s current issued and outstanding common shares on a fully diluted basis and is therefore subject to shareholder approval in accordance with the policies of the Canadian Securities Exchange (the “CSE”). The Company intends to obtain such approval by way of written consent of shareholders holding more than 50% of the outstanding voting securities.
The private placement remains subject to the receipt of all required approvals, including acceptance of the CSE, as well as the execution of definitive documentation. All securities issued will be subject to a statutory hold period of four months and one day in accordance with applicable securities laws and CSE policies.
The Company may pay finder’s fees in connection with the private placement, subject to CSE approval.
This news release amends and supersedes the Company’s news release dated October 20, 2025.
Additional information about the Company and the Transaction is available on SEDAR at www.sedarplus.ca under the Company’s profile.
Derrick Strickland, an independent qualified person for the purposes of National Instrument 43-101, Standards of Disclosure for Mineral Projects, has reviewed and approved the scientific and technical information contained in this news release.
Blake Morgan, CEO and Director, can be reached at 236-878-4938 or blake@acvc.vc
Source: Western Star Resources
