Western Star Resources Announces Private Placement to Raise Up to $3 Million

Vancouver, British Columbia — April 16, 2026 — Leads & Copy —

Western Star Resources Inc. (CSE: WSR) (OTC: WSRIF) (4K2: FRA) has announced a non-brokered private placement to raise up to $3,000,000.

The private placement will consist of up to 6,000,000 units of the company at a price of $0.50 per unit. Each unit will include one common share of the company and one-half of one common share purchase warrant. Each whole warrant will allow the holder to acquire one additional common share at $0.75 for 24 months from the date of issue.

The company plans to use the net proceeds for phase 1 and 2 drill programs on the past-producing Tungsten asset, the Rowland Property, completing its critical metals move into Nevada/America, general working capital, and market awareness. The private placement is subject to specific conditions, including approval from the Canadian Securities Exchange.

Blake Morgan, President and CEO of Western Star Resources, said that the funding would supplement the existing $2,600,000 treasury and provide additional capital for several drill programs. Morgan added that tungsten prices have risen significantly since the acquisition of the Rowland Property, from approximately $600 to over $3,000, highlighting the opportunities within Western Star's past-producing tungsten property.

The Western Star team has collected historical data and identified workings, including shafts, adits, trenches, and open pits associated with prior production. Verifying and sampling these sites is a priority to confirm the mineralization and progress the project toward drilling this season.

Western Star Resources also holds multiple Letters of Intent and exclusivity rights on other formerly productive tungsten assets.

Western Star Resources is focused on revitalizing North America's tungsten supply. The company is advancing its entry into the U.S. market through the acquisition of a past-producing tungsten mine in Nevada. The company also owns nine non-surveyed contiguous mineral claims totaling 4,740 hectares in British Columbia.

The securities mentioned in this release have not been registered under the U.S. Securities Act of 1933 and may not be offered or sold in the United States without registration or an exemption. This release does not constitute an offer for sale of securities.

Source: Western Star Resources