American Tungsten & Antimony's US Subsidiary, Trigg Minerals USA, has been selected by U.S. Department of Energy for Commencement of Negotiations Regarding Scope and Terms of a Potential Award of up to US$18 million for the ASCEND-Sb Project

Rhea-AI Summary

American Tungsten & Antimony (OTCQB: ATALF) reported that its wholly owned US subsidiary, Trigg Minerals (USA), has been selected by the U.S. Department of Energy to begin negotiations on the scope and terms of a potential award of up to US$18 million for the ASCEND-Sb antimony smelting project. The project is one of nine chosen under a broader US$162 million DOE program administered by the Advanced Mining and Mineral Production Technologies Office. According to the company, this marks an initial step toward securing grant funding to support a mine-to-metal American antimony supply chain. The company also highlights its portfolio of antimony and tungsten projects in Utah and Nevada and a July Share and Purchase Agreement to acquire 100% of the Del Sol Refinery in Nevada and the White Spar Antimony Mine in Arizona.

Positive

• Potential DOE funding up to US$18 million for ASCEND-Sb project negotiations
• One of nine projects selected under a US$162 million U.S. DOE program
• Share and Purchase Agreement to acquire 100% of Del Sol Refinery and White Spar Antimony Mine

Negative

• None.

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NEW YORK, Aug. 19, 2026 /PRNewswire/ -- American Tungsten & Antimony Limited (ASX: AT4; OTCQB: ATALF) announced its wholly owned US subsidiary, Trigg Minerals (USA) LLC, has been selected by the U.S. Department of Energy to commence negotiations regarding the scope and terms of a potential financial award up to US$18 million for the Advancing Smelting Capacity for Expansion and National Dominance in Antimony (ASCEND-Sb Project). This project is one of nine that have been selected nationally under a US$162 million DOE program announced yesterday, August 18.

The funding program is administered by the DOE Advanced Mining and Mineral Production Technologies Office, under the Office of Critical Minerals and Energy Innovation, under the Infrastructure Investment and Jobs Act Mines & Metals Capacity Expansion Program.

More details are available here: https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-03122926-6A1339206&v=undefined.

This is the first step in securing a grant under this government program as the company advances its mine-to-metal American supply chain. The company will work with the DOE to negotiate scope and terms of a potential funding package and will continue to provide updates on the progress of these negotiations.

American Tungsten & Antimony (https://www.ataa.com) continues to advance a portfolio of antimony and tungsten projects in Utah and Nevada. Both minerals are designated as critical to U.S. security, defense and advanced manufacturing. The company's portfolio includes the flagship Antimony Canyon Project in Utah, together with a portfolio of tungsten projects across Utah and Nevada, including Tennessee Mountain, Fraction Lode, Nightengale, Sage Hen and Dutch Mountain. In late July of this year the company announced a Share and Purchase Agreement to acquire 100% of the Del Sol Refinery in Nevada and the White Spar Antimony Mine in Arizona.

View original content:https://www.prnewswire.com/news-releases/american-tungsten--antimonys-us-subsidiary-trigg-minerals-usa-has-been-selected-by-us-department-of-energy-for-commencement-of-negotiations-regarding-scope-and-terms-of-a-potential-award-of-up-to-us18-million-for-the-ascend-302855622.html

SOURCE American Tungsten and Antimony

FAQ

What did American Tungsten & Antimony (ATALF) announce about U.S. DOE funding on August 19, 2026?

American Tungsten & Antimony announced that its subsidiary Trigg Minerals (USA) was selected by the U.S. DOE to commence negotiations for a potential award of up to US$18 million. According to the company, this relates to the ASCEND-Sb antimony smelting capacity project.

Is the US$18 million DOE award for American Tungsten & Antimony guaranteed?

The US$18 million award is not guaranteed; it is a potential amount subject to negotiations with the U.S. DOE. According to the company, selection only initiates talks on the scope and terms of a possible funding package.

What is the ASCEND-Sb project mentioned by American Tungsten & Antimony (ATALF)?

The ASCEND-Sb project, or Advancing Smelting Capacity for Expansion and National Dominance in Antimony, is an antimony smelting initiative. According to the company, it supports a mine-to-metal American supply chain for antimony, a U.S.-designated critical mineral.

How does the DOE program supporting American Tungsten & Antimony’s project work?

The ASCEND-Sb project is one of nine selected nationally under a US$162 million DOE program. According to the company, the program is run by the Advanced Mining and Mineral Production Technologies Office under the Mines & Metals Capacity Expansion Program.

What other projects does American Tungsten & Antimony (ATALF) hold in the U.S.?

American Tungsten & Antimony reports a portfolio of antimony and tungsten projects in Utah and Nevada, including the Antimony Canyon flagship. According to the company, its tungsten assets include Tennessee Mountain, Fraction Lode, Nightengale, Sage Hen and Dutch Mountain.

What recent acquisitions has American Tungsten & Antimony agreed to pursue?

In late July, the company announced a Share and Purchase Agreement to acquire 100% of the Del Sol Refinery in Nevada and the White Spar Antimony Mine in Arizona. According to the company, these assets complement its critical minerals portfolio.