ELKO, NV / ACCESS Newswire / October 1, 2025 / Patriot Critical Minerals ("Patriot" or the "Company"), a U.S.-based critical minerals developer advancing the 100%-owned MEGA tungsten project in Elko County, Nevada, today announced the filing of a Technical Report Summary ("TRS") prepared in accordance with U.S. Securities & Exchange Commission ("SEC") Regulation S-K, Subpart 1300 of the Securities Exchange Act (S-K 1300) for its wholly owned MEGA Tungsten Project. The TRS, with an effective date of August 1, 2025, was completed by SRK Consulting (U.S.), Inc. and includes an Inferred Mineral Resource Estimate of 21.8 million short tons grading 0.18% WO3 for a total WO3 material content of 78.7 million lb or 35.6k tonnes. All estimates of mineral resources have been prepared in accordance with National Instrument 43-101 - Standards for Disclosure for Mineral Projects ("NI 43-101") and SEC S-K 1300.
Highlights of the Inferred Mineral Resource Estimate
Pit Constrained 21.8 M short tons grading 0.18% WO3
78.7 M lb or 35.6 kt contained WO3
Assumed 75% Recovery Scenario
Cut-off grade of 0.08% WO3
Market study indicating $400/ MTU WO3 base-case pricing
Database includes 366 drillholes totalling 92,511 ft and 2,511 samples from 22 trenches
Largest reported SEC-compliant tungsten resource in the United States
Table 1. SRK's MEGA Project Resource Statement, August 2025
Category | Mass | WO3 (%) | |
Average Value (%) | Material Content | ||
Inferred | 21.80 | 0.18 | 78.7 |
Notes on Mineral Resources:
Source: SRK, 2025
Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability. This estimate of Mineral Resources may be materially affected by environmental, permitting, legal, title, taxation, sociopolitical, marketing, or other relevant issues.
Notes: Differences may occur in totals due to rounding.
Material reported above a break-even economic cut-off grade (CoG) of 0.08% WO3 are within an optimized pit shell, and only those resources internal to mining claim boundaries
The Qualified Person is not aware of any known environmental, permitting, legal, political, title-related, taxation, socio-political, or marketing issues that could affect the Mineral Resource Estimate.
The full SEC S-K 1300 Technical Report Summary can be found here: SEC S-K 1300 Technical Report
Andrew Bowering, Chairman of Patriot Critical Minerals, added: "Critical minerals are not just resources; they are the currency powering the 21st century. After over 15 years of chronic underinvestment, capital is surging back into mining as governments and industries race to secure resilient domestic supplies. Tungsten, especially, lies at the vital crossroads of defense, technology, and energy. At Patriot Critical Minerals, we're proud to be at the forefront of this vital resurgence, delivering shareholder value while bolstering America's strategic imperatives."
Brodie Sutherland, CEO of Patriot Critical Minerals, commented: "The completion of our S-K 1300 Technical Report Summary marks a pivotal milestone, unveiling the immense scale and transformative potential of the MEGA Project. This positions Patriot to deliver a resilient, domestic tungsten supply precisely when U.S. industries and defense sectors face a pressing demand for dependable, secure resources."
Strategic Importance
Patriot is advancing with a clear vision: to establish itself as America's leading name in tungsten. The Company's flagship MEGA Project is strategically aligned with U.S. government initiatives to rebuild critical domestic supply chains, strengthen defense readiness, and reduce dependence on foreign sources.
As geopolitical tensions continue to rise, tungsten's strategic role across defense systems, aerospace, semiconductors, hard metals, and emerging battery technologies has never been more vital. By aggressively driving forward resource development and drilling programs, Patriot is positioning the MEGA Project as a cornerstone asset in securing America's long-term tungsten supply.
A National Security Asset
Patriot seeks to establish the MEGA Project as a recognized national security interest, and the Company intends to engage with U.S. federal and state agencies to align development timelines with critical mineral funding programs, stockpiling strategies, and defense procurement priorities.
Why Tungsten on U.S. Soil
Tungsten is one of the hardest, densest, and highest-melting-point metals on Earth, essential for defense, aerospace, energy transition, and advanced technologies such as AI chips, EV drivetrains, and renewable energy systems. Despite this strategic importance, the United States has not produced tungsten domestically in over a decade and remains nearly 100% import-dependent.
Today, approximately 87% of global tungsten supply comes from China, Russia, and North Korea, regimes that operate with minimal environmental oversight, subsidized energy, and non-market labor practices. This concentration of supply exposes NATO-aligned countries to geopolitical risks and leaves critical defense and industrial supply chains vulnerable.
Unlike many global projects, which require underground mining, demanding higher capital, longer timelines, and more complex infrastructure, Patriot's MEGA deposit sits right at the surface. This makes it ideally suited for open-pit development: a lower-cost, faster-to-market approach that delivers simpler access to mineralized zones and reduces both financial and technical risk.
As the largest SEC-compliant tungsten resource in America, MEGA represents the most advanced and scalable opportunity to establish secure domestic production. By developing tungsten on U.S. soil, Patriot is positioned to support national security priorities, reduce reliance on adversarial supply chains, and deliver a reliable, responsible source of tungsten for America's future.
Technical Reports
The Company will be filing a NI 43-101 technical report on SEDAR+ within 45 days in accordance with National Instrument 43-101 - Standards of Disclosure for Mineral Projects compliant ("NI 43-101"). A copy of the technical report, once filed, will be available under the Company's profile on SEDAR+ at www.sedarplus.ca.
Qualified Persons
Brodie Sutherland, P.Geo, is a "Qualified Person" as such term is defined under National Instrument 43-101 - Standards of Disclosure for Mineral Projects and has reviewed and approved the technical aspects of this news release. Mr. Sutherland is the Chief Executive Officer of the Company.
SRK Consulting (U.S.), Inc. (SRK) consents to the issuance of the S-K 1300 Technical Report Summary for the MEGA Project (the Report) in the form and context for which it is to be included in documentation distributed to the directors of Patriot Critical Minerals Corp., and in Patriot's filing with the Securities Exchange Commission. SRK is the "Qualified Person" for the sections of the Report as identified in section 2.8 of the Technical Report Summary.
Scientific and technical information contained in this news release, and as related through the NI 43-101 Technical Report on the MEGA Project, has been reviewed and approved by Matthew Hastings (M.Sc, P.Geo, MAusIMM (CP) of SRK Consulting (U.S.), Inc). Mr. Hastings is independent of Patriot Critical Minerals and is a "Qualified Person" as defined by Canadian Securities Administrators' National Instrument 43-101 - Standards of Disclosure for Mineral Projects.
About Patriot Critical Minerals
Patriot Critical Minerals is a U.S.- based company dedicated to the development of critical minerals, with a primary focus on advancing its wholly owned MEGA tungsten project located in Elko County, Nevada. Encompassing 310 acres across 15 unpatented lode mining claims, the MEGA project represents one of the largest known tungsten deposits in the United States. An updated mineral resource estimate has been completed showcasing 21.8 million short tons of tungsten trioxide (WO3) at a grade of 0.18%. To learn more, please visit our website at www.patriotcritical.com.
QA/QC of Underlying Data
SRK is of the opinion that the procedures and methods, as documented and understood from the legacy and more recent sampling at the MEGA Project, are suitable for the declaration of Inferred Mineral Resources. Potential inaccuracies or biases (which could result from issues in historical methods) have been accounted for in a variety of ways, and any latent uncertainty has been incorporated as a factor in the resource classification. Demonstration of the accuracy of these legacy data remains an opportunity.
Cautionary Note Regarding Forward-Looking Statements
This news release contains forward-looking statements and forward-looking information (collectively, "forward-looking statements") within the meaning of applicable Canadian legislation. Forward-looking statements are typically identified by words such as: "believes", "expects", "anticipates", "intends", "estimates", "plans", "may", "should", "would", "will", "potential", "scheduled" or variations of such words and phrases and similar expressions, which, by their nature, refer to future events or results that may, could, would, might or will occur or be taken or achieved.
All statements in this news release that are not purely historical are forward-looking statements and include statements regarding beliefs, plans, expectations and orientations regarding the future. Specifically, the forward-looking statements include: that the MEGA tungsten project has geological potential and will reach production; that the mineral resource estimates on the MEGA tungsten project will be realized; that Patriot is uniquely positioned to become one of the only tungsten producers in the United States; Patriot's positioning to deliver a secure, domestic source of tungsten; the strategic value of tungsten to the United States; the market prospects and price stability of tungsten; the Company's plans to advance the MEGA tungsten project, including filing a NI 43-101 technical report and engaging with the U.S. government toalign development timelines with critical mineral funding programs, stockpiling strategies, and defense procurement priorities; the Company's planned position to be a supplier of choice in the tungsten market; and the Company's vision to become the go-to name for tungsten. Although the Company believes that such statements are reasonable and reflect expectations of future developments and other factors which management believes to be reasonable and relevant, the Company can give no assurance that such expectations will prove to be correct. In making the forward-looking statements in this news release, the Company has applied several material assumptions, including without limitation, that market fundamentals will support the viability of critical mineral resource exploration, the availability of the financing required for the Company to carry out its planned future activities, the availability of and the ability to retain and attract qualified personnel, and the receipt of all necessary regulatory approvals. Other factors may also adversely affect the future results or performance of the Company, including general economic, market or business conditions, future prices of minerals, changes in the financial markets and in the demand for minerals, changes in laws, regulations and policies affecting the mineral exploration industry, as well as additional risks that cannot be anticipated at this time. Ongoing labor shortages, inflationary pressures, rising interest rates, the global financial and geopolitical climate, and the conflicts in Ukraine and Palestine and surrounding regions are some additional factors that are affecting current economic conditions and increasing economic uncertainty, which may impact the Company's operating performance, financial position, and future prospects. Collectively, the potential impacts of this economic environment pose risks that are currently indescribable and immeasurable. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits the Company will obtain from them. Readers are cautioned that forward-looking statements are not guarantees of future performance or events and, accordingly, are cautioned not to put undue reliance on forward-looking statements due to the inherent uncertainty of such statements. The Company does not undertake any obligation to update such forward-looking information whether because of new information, future events or otherwise, except as expressly required by applicable law.
For further information regarding this press release, please contact:
Patriot Critical Minerals
+1 (778) 358-6174
info@patriotcritical.com
705-1030 West Georgia St.,
Vancouver, BC, V6E 2Y3
patriotcritical.com
SOURCE: Patriot Critical Minerals
View the original press release on ACCESS Newswire:
https://www.accessnewswire.com/newsroom/en/metals-and-mining/patriot-critical-minerals-completes-sec-technical-report-summary-of-its-100-contr-1080973
