Western Star Resources (CSE:WSR) intends to increase a previously reported non-brokered private placement for C$3 million ($3.11 million), ahead of drilling at its namesake project in British Columbia.
In January 2026, the company amended the terms of a 2025 non-brokered private placement, which aims to raise C$1.5 million through the issuance of 10 million units at C$0.15 per unit, as reported by this news service.
Western Star has since increased the amount of shares to 20 million at the same issue price. Each unit will consist of one common share and one common share purchase warrant, exercisable at C$0.30 within 24 months.
The funds will be used to define high-priority drill targets at its namesake project and to complete its critical minerals move in Nevada, alongside general working capital and market awareness.
CEO Blake Morgan says increasing the financing reflects growing recognition of tungsten and critical minerals as strategic resources in North America.
“We believe we are building meaningful exposure to a commodity that is increasingly vital to defense, infrastructure, and advanced technologies,” Morgan says.
Western Star will be attending this year’s Prospectors & Developers Association of Canada (PDAC) in March 2026.
Previously speaking to Mining.com.au, Morgan said the company’s reason for attending PDAC is “simple – it’s the world’s leading mining convention, to engage investors, governments, and industry stakeholders”.
“PDAC represents a critical platform where capital, strategy, and opportunity converge – particularly in the critical minerals space. We are looking forward to attending PDAC and meetings are booking fast.”
The Western Star Project consists of intensely deformed, stratiform-type deposits consisting of siderite and mineralised quartz formations with pyrite, galena, and sphalerite. The project covers 2,797.69 hectares and is located in British Columbia, Canada.
Western Star’s Nevada tungsten projects represent past-producing operations with established infrastructure and known high-grade mineralisation.
Western Star is an emerging junior mining company focused on revitalising North America’s tungsten supply. The company is advancing its entry into the US market through the acquisition of a past-producing tungsten mine in Nevada.
Write to Aaliyah Rogan at Mining.com.au
Images: Western Star Resources
