FOR IMMEDIATE RELEASE
August 7, 2025 — Provo, UT
Mithril Mining Corp, an American owned and operation critical mineral exploration and development company developing two high-grade tungsten projects in the United States, is pleased to announce it has executed a binding agreement for the sale of the Tennessee Mountain Tungsten Project in Elko County, Nevada to Trigg Minerals Limited (ASX: TMG). Under the agreement, Mithril Mining and its President, Taylor Sulik, will receive a combination of cash, Trigg Minerals shares, and a retained net smelter return (NSR) royalty, providing both immediate non-dilutive capital and long-term exposure to the future success of the project.
This transaction is a deliberate, strategic decision that strengthens Mithril Mining’s balance sheet and sharpens its focus on advancing its wholly owned U.S. critical mineral assets, including its flagship tungsten and associated critical metals projects. The consideration received from Trigg Minerals will be deployed directly into the ground—funding drilling, mapping, sampling, metallurgical test work, and technical studies designed to accelerate resource definition and de-risk Mithril’s core portfolio, while avoiding unnecessary equity dilution for existing shareholders.
“We are very proud to see Tennessee Mountain in the hands of a well-capitalized ASX-listed company with a clear mandate to build a diversified critical minerals business,” said Taylor Sulik, President of Mithril Mining Corp. “For Mithril, this is a win on two fronts: it validates the quality of our project generation model and converts that value into capital we can immediately reinvest into our priority assets. At the same time, our retained royalty ensures our shareholders maintain exposure to any future production from Tennessee Mountain.”
The sale aligns with Mithril Mining’s overarching strategy of building a resilient, U.S.-based critical minerals platform that supports national defense, advanced manufacturing, and allied supply chains. By recycling capital from a successful transaction into its operated properties, Mithril is positioned to move more quickly on high-conviction targets that complement U.S. government initiatives, Defense Industrial Base programs, and trusted-capital partners focused on secure, transparent, non-adversarial supply.
Mithril Mining will continue to evaluate similar strategic opportunities where partnering or transacting with aligned operators can unlock value while keeping the company’s core mission front and center: discovering and advancing American critical mineral deposits that contribute to national and economic security.
About Mithril Mining Corp.
Mithril Mining Corp. is an American owned and operation critical minerals exploration and development company dedicated to rebuilding America’s strategic Tungsten supply chain. The company’s two flagship Tungsten properties, located in Utah and Montana, host historical underground and open-pit workings and is strategically located near existing processing infrastructure and rail access. Both deposits are historically the highest grade mined Tungsten material across the U.S. Guided by responsible stewardship, Mithril Mining Corp. aims to deliver sustainable, high-value jobs while supporting U.S. defense readiness.
Contact
Taylor Sulik, CEO
taylor@mithrilmining.com | +1 (860) 481-5840
Forward-Looking Statement Disclaimer: This release contains forward-looking statements subject to various risks and uncertainties. Actual results may differ materially from those expressed or implied.
