Viking Mines Launches First Drilling Campaign in Over 40 Years at Nevada’s Linka Tungsten Project

Overview of Linka Tungsten Project and Historical Output

The Linka Tungsten Project spans Lander and Pershing counties in Nevada, USA, encompassing three historically productive tungsten mines: Linka, Conquest, and Hillside. Mineralisation occurs as scheelite-bearing skarn formed in limestone adjacent to granitic intrusive rocks. Historically, the mines produced approximately 65,000 tonnes at an average mill grade near 0.5% WO 3 via a 360-tonne-per-day mill, with operations ceasing in 1956 due to tungsten price declines rather than resource depletion. This mill grade is among the highest globally for tungsten projects, underscoring the deposit’s quality.

In December 2026, Viking Mines executed a binding term sheet to acquire 100% ownership of the project, pursuing a brownfields restart strategy. The project’s extensive production history and significant processed tonnage validate its geological potential and underpin Viking’s exploration and development plans. The cessation of mining for economic reasons rather than geological constraints highlights the opportunity for resource delineation and economic extraction under current market conditions and modern processing technologies.

First Drilling Effort in Over Four Decades at Linka Workings

This maiden drilling campaign is the first at the Linka Tungsten Project in over 40 years and Viking Mines’ initial drilling since acquiring the asset. The contracted rig departed the contractor’s yard and was en route to site as of the company’s 22 July 2026 update, with arrival expected later that week. Field teams and earthworks contractors are completing drill pad construction ahead of rig mobilisation, with drilling projected to commence shortly thereafter, weather and site conditions permitting, starting the week of 27 July 2026.

This campaign marks a pivotal operational milestone, transitioning Viking Mines from exploration planning to active drilling. The timing aligns with receipt of all necessary drilling approvals from regulatory authorities. Managing Director and CEO Julian Woodcock highlighted the rig mobilisation as a major achievement, noting the program’s culmination of extensive planning and groundwork. The drilling is essential to test geological targets identified from prior exploration and to support advancing toward a maiden Mineral Resource estimate.

Target Zones and Regional Exploration Opportunity

The drilling program focuses on three key target areas at the Linka Tungsten Project. The primary target is shallow, high-grade mineralisation near historic Linka workings and down-dip extensions. The second target covers south-west extensions beneath shallow cover that have not yet undergone systematic drilling. The third target is a broader regional exploration along approximately 7 kilometres of geophysically mapped intrusive contact, where roughly 89% remains under shallow cover and untested by drilling.

This multi-target approach combines near-mine resource extension testing with regional discovery potential. Validating continuity and geometry of mineralisation near historic workings will be complemented by exploration of the largely untested intrusive contact, representing significant upside. This strategy supports Viking Mines’ objective to progress the project toward resource estimation and potential development.

Metallurgical Testing Validates Processing Approach

Recent metallurgical testwork at Linka produced a 56.9% WO 3 concentrate at 76.0% recovery using conventional gravity and flotation methods, as announced on 10 June 2026. These results confirm that the mineralisation is amenable to established processing techniques with low technical risk and no need for novel infrastructure.

The 76.0% recovery rate indicates efficient tungsten extraction, while the 56.9% WO 3 concentrate grade reflects a high-quality final product. These findings underpin Viking Mines’ technical strategy to advance toward a maiden Mineral Resource estimate. The ongoing drilling will supply critical geological and grade data to define the resource base, which will be further evaluated through metallurgical optimisation and economic assessment.

Favourable Tungsten Market and Critical Mineral Designation

As of 3 July 2026, tungsten prices for European 88.5% WO 3 ammonium paratungstate products traded at US$3,265 per metric tonne unit, according to FerroAlloyNet.com data cited by Viking Mines. The company highlighted that tungsten prices have reached multi-year highs, creating an advantageous market environment for advancing a US-based tungsten project. Managing Director Julian Woodcock emphasized the timing of drilling amid strong prices and tungsten’s recognition as a critical mineral in Western defence and industrial supply chains.

Tungsten’s critical mineral status reflects its indispensable role in defence manufacturing, aerospace, high-temperature alloys, and strategic industrial uses. This designation has attracted government focus, especially in the United States, which aims to develop domestic tungsten supply capacity historically reliant on imports. The combination of elevated prices, critical mineral recognition, and the Linka project’s US location offers a supportive macroeconomic backdrop for Viking Mines’ development plans, making this an opportune moment in the commodity cycle.

Drilling Program Design and Exploration Methodology

The maiden drilling program is designed to test scheelite-bearing skarn mineralisation along the intrusive-limestone contact at the historic Linka workings, mined in the 1940s and 1950s. It builds on prior geophysical surveys mapping approximately 7 kilometres of intrusive contact. Rotary compressor (RC) drilling is well suited to efficiently sample the skarn mineralisation and gather data on grade and continuity.

Viking Mines commits to reporting drilling progress and assay results systematically as samples are received, validated, and compiled. This transparent approach enables investors to monitor the campaign’s progress and supports technical evaluation toward a maiden Mineral Resource estimate—a key step toward development decisions.

Upcoming Operational Workstreams and Resource Definition Path

Near-term activities include completing earthworks, drill pad and access preparation, initiating the maiden drilling program targeting scheelite-bearing skarn at Linka and Conquest workings, logging and sampling drill cores, dispatching samples for assay, and timely reporting of results. Emphasis on sample quality control and immediate handling reflects best practice exploration standards.

Progression from drilling to sample analysis and data integration charts a clear path toward resource definition. Viking Mines aims to integrate geological, assay, and mining engineering data to develop a maiden Mineral Resource Estimate. Ongoing transparent reporting keeps stakeholders informed throughout the exploration campaign rather than waiting for a final summary announcement.

Strategic Acquisition and Brownfields Development Approach

Viking Mines acquired its US tungsten portfolio, including the Linka Project, via a binding term sheet signed in December 2026. The company pursues a brownfields restart strategy leveraging historical production, existing geological knowledge, and infrastructure. This approach mitigates exploration and development risks compared to greenfields projects.

Extensive technical work since acquisition includes metallurgical testing, geological reinterpretation, geophysical surveys, and permitting. Managing Director Julian Woodcock stated that conducting drilling alongside this technical work will provide a comprehensive understanding of the project’s potential. Viking Mines looks forward to reporting initial drilling results as the campaign advances, marking a critical step toward resource definition and project viability.

Regulatory Approvals and Permitting Status

The company confirmed that all necessary drilling permits and environmental approvals for Nevada have been secured, involving multiple state and federal agencies such as the Nevada Division of Environmental Protection and potentially the US Bureau of Land Management. Obtaining these approvals was a vital prerequisite for rig mobilisation and drilling commencement.

Managing Director Woodcock noted the fortuitous timing of regulatory clearance coinciding with strong tungsten prices. Navigating the permitting process efficiently demonstrates Viking Mines’ capability in managing regulatory and stakeholder relations. Maintaining compliance throughout drilling will be essential to sustaining project momentum.