Western Star Resources (CSE:WSR) has closed a previously reported non-brokered private placement, raising C$3.19 million ($3.21 million) to fund two phases of drilling at the Rowland Project in the US.
Around 6.3 million units were issued at C$0.50 per unit. Each unit comprises one common share and half of a share purchase warrant, exercisable at C$0.75, and expiring on 11 May 2028.
CEO Blake Morgan says with over C$6 million now in the bank, the company is fully funded to execute multiple drill programs.
“This capital provides the resources necessary to aggressively advance our exploration and development goals,” Morgan says.
Western Star has also appointed Monty Sutton as director of the company, effective from 11 May 2026. Sutton will also serve as the company’s CFO.
Sutton brings more than 35 years of experience in public markets, corporate governance, senior administration, and accounting, and has served on the management teams and boards for many private and publicly traded companies.
Rowland’s history
In early April 2026, Western Star expanded the Rowland Project by 170%, through physical claim staking.
The expanded land package contains historical mine workings, including a newly identified adit. Western Star says the expansion positions the company to pursue district-scale tungsten exploration in one of Nevada’s most established mining jurisdictions.
Since acquiring Rowland in late 2025, Western Star has compiled the available historical data, completed a light detection and ranging (LiDAR) survey to uncover areas that indicate historical mining activity, and conducted a local and regional geological assessment.
Historical production of more than 1,000 tonnes of ore grading up to 3.39% tungsten oxide was reported between 1943 and 1956 at workings along the trend from the expanded claim boundary.
The Rowland Project is a road-accessible past-producing asset located six miles southwest of Jarbidge in northeastern Nevada. The property is characterised by limestones, shales, and quartzite intruded by a Cretaceous-aged quartz monzonite stock.
Write to Aaliyah Rogan at Mining.com.au
Images: Western Star Resources
