GoldHaven Resources to Acquire Strategic High-Grade Tungsten Claims within its Magno Project in Northwestern British Columbia
June 17, 2025 09:30 ET | Source: GoldHaven Resources Corp.
VANCOUVER, British Columbia, June 17, 2025 (GLOBE NEWSWIRE) -- GoldHaven Resources Corp. (“GoldHaven” or the “Company”) (CSE: GOH | OTCQB: GHVNF | FSE: 4QS) is pleased to announce that it has entered into an agreement to acquire the Kuhn, Dead Goat, and M3 claims (the “Claims”) located in northwestern British Columbia, within the Company’s flagship Magno Project. The claims total 1,100.6 acres and host a historic resource of 409,300 tonnes at 0.48% WO3 (tungsten trioxide) and 0.134% MoS2 (molybdenum disulfide) in the Kuhn North zone. These estimates are historical in nature and do not meet NI 43-101 standards and therefore should not be relied upon.
Tungsten: A Critical Mineral of Strategic Importance to North America
Tungsten has emerged as a critical mineral of strategic importance due to its unmatched physical properties and indispensable role in high-performance applications. With the highest melting point of any metal and exceptional density and hardness, tungsten is essential to modern defense systems, including armor-piercing munitions, kinetic energy penetrators, and aircraft turbine components. Its resilience to extreme temperatures and wear makes it equally vital in aerospace, advanced manufacturing, and nuclear energy. These characteristics, combined with a lack of viable substitutes, position tungsten as a cornerstone of national security and industrial competitiveness.
However, the global tungsten supply chain faces a significant geopolitical risk. China, which controls over 80% of global tungsten production and refining, enacted strict export controls in February 2025 that have effectively halted shipments of key tungsten products. Though not an outright ban, China has issued no export licenses under the new regime, creating a de facto blockade that has shocked global markets and driven to increased prices and supply uncertainty. This move highlights the urgent need for diversified, secure tungsten supply chains as Western nations confront the strategic vulnerabilities of relying on a single dominant supplier for such a critical resource. Analysts anticipate that Chinese-supplied tungsten may be scarce in the global markets driving companies and countries to explore for alternative sources and strategies to mitigate the impact of China's export controls.
Acquisition Highlights:
- The Kuhn and Dead Goat properties are in the Cassiar Mining District, British Columbia, and have been explored since at least the 1970s.
- Historic drilling by Shell Canada included 17 diamond drill holes totaling 1,766 metres, confirming the presence of high-grade scheelite (CaWO4) and molybdenite (MoS2).
- Well-developed skarn-type mineralization system.
- Recent exploration has confirmed significant tungsten and molybdenum mineralization in metasomatic skarn lenses, with ongoing potential for resource expansion.
- Historical Resource Estimates:
| Zone | Tonnes | % WO3 | % MoS2 | % Cu | | Kuhn North, Lower 3A Band | 409,300 | 0.48 | 0.134 | - | | Kuhn North, Upper 3A Band | 78,700 | 0.5 | - | - | | Dead Goat | 100,900 | 0.49 | - | - | | Dead Goat (deeper lens) | 27,600 | 0.39 | - | 0.16 | | Total | 616,500 | - | - | - |
Historical Estimate Disclosure: This resource estimate constitutes a “historical estimate”, as that term is defined in National Instrument 43-101 Disclosure Standards for Mineral Projects (“NI 43-101”). This information is derived from summary report McDame project 82-546-10512, filed by Shell Canada Resources. A qualified person has not done sufficient work to classify the historical estimate as current mineral resources or mineral reserves, and accordingly the estimates may not be relevant or reliable. The Company is not treating the historical estimate as current. In order to verify the historical estimate, a qualified person needs to review the historical data, review any work completed at the projects since the date of the historical estimate and complete a new mineral resource estimate
Figure 1: Magno property claims outlining the Kuhn, Dead Goat and M3 claims acquisition highlighted in yellow in the northern section of property as well as proximity to other Company’s claims in the area
Terms of the Acquisition:
GoldHaven has entered into a title transfer agreement (the “Agreement”) dated June 12, 2025 with Fundamental Resources Corp. (the “Vendor”), pursuant to which it is entitled to acquire a 100% interest in the Claims located in the Cassiar Mining District, British Columbia (the “Transaction”). As consideration, the Company will issue 1,250,000 common shares (the “Consideration Shares”) to the Vendor, subject to a 36-month escrow release schedule pursuant to which 10% of the Consideration Shares will be released on completion of the Transaction, and 15% on each six month anniversary thereof. 100% of the Consideration Shares will be subject to the standard Canadian statutory four month hold period. The Transaction is expected to be completed on or about June 24, 2025.
Rob Birmingham, CEO of GoldHaven Resources, stated: “We are very pleased to expand our presence in this underexplored but highly prospective region of British Columbia. The Kuhn, Dead Goat, and M3 claims strengthen our strategic land position within the Magno Project and introduce compelling tungsten upside with additional zones of Copper, Zinc and Molybdenum to the GoldHaven story. The Kuhn and Dead Goat deposits share a geological setting similar to Cantung and Mactung, both large tungsten skarn deposits in Canada. This strategic acquisition comes on the heels of continued strong demand for commodities caught in the middle of global tariff battles—particularly tungsten. Historic work by Shell Canada, coupled with more recent exploration by Fundamental Resources, has highlighted the potential for a high-grade skarn system that could support a future development opportunity.”
The Company plans to conduct a detailed review of historic data and design follow-up exploration programs to confirm and expand the known mineralization.
Figure 2: Kuhn and Dead Goat mineral claims in the Cassiar mining district Northwestern BC
About GoldHaven Resources Corp.
GoldHaven Resources Corp. is a Canadian junior exploration Company focused on acquiring and exploring highly prospective land packages in North and South America. The Company’s projects include (i) the flagship Magno Project, a district-scale polymetallic property adjacent to the historic Cassiar mining district in British Columbia; (ii) the Three Guardsman Project, which exhibits significant potential for copper and gold-skarn mineralization; (iii) the Copeçal Gold Project, a drill-ready gold project located in Mato Grosso, Brazil with a 6km strike of anomalous gold in soil samples; and (iv) three critical mineral projects with extensive tenement packages totaling 123,900 hectares: Bahia South, Bahia North and Iguatu projects located in Brazil.
Qualified Person:
The technical and scientific information contained in this news release has been reviewed and approved by Lindsay Bottomer P.Geo. who is a Qualified Person as defined under NI 43-101 and a consultant of the Company.
On Behalf of the Board of Directors
Rob Birmingham, Chief Executive Officer
For further information, please contact:
Rob Birmingham, CEO
www.GoldHavenresources.com
info@goldhavenresources.com
Office Direct: (604) 629-8254
Forward-Looking Statements
This news release contains “forward-looking information” within the meaning of applicable Canadian securities legislation. Often, but not always, forward-looking information and information can be identified by the use of words such as “plans”, “expects” or “does not expect”, “is expected”, “estimates”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved. Actual future results may differ materially. In particular, this news release contains forward-looking information relating to the Company’s plans and objectives, both generally and with regard to the Claims, including the prospective nature thereof, as well as the strategic significance and value of Tungsten. The forward-looking information reflects management's current expectations based on information currently available and are subject to a number of risks and uncertainties that may cause outcomes to differ materially from those discussed in the forward-looking information. Such risk factors may include, among others, but are not limited to: general economic conditions in Canada and globally; industry conditions, including governmental regulation and environmental regulation; the availability of capital on acceptable terms; the need to obtain required approvals from regulatory authorities; stock market volatility; competition for, among other things, skilled personnel and supplies; incorrect assessments of the value of acquisitions; geological, technical, processing and transportation problems; changes in tax laws and incentive programs; failure to realize the anticipated benefits of acquisitions and dispositions; and the other factors. Although the Company believes that the assumptions and factors used in preparing the forward-looking information are reasonable, undue reliance should not be placed on such information and no assurance can be given that such events will occur in the disclosed time frames or at all. Factors that could cause actual results or events to differ materially from current expectations include: (i) adverse market conditions; and (ii) other factors beyond the control of the Company. New risk factors emerge from time to time, and it is impossible for the Company’s management to predict all risk factors, nor can the Company assess the impact of all factors on Company’s business or the extent to which any factor, or combination of factors, may cause actual results to differ from those contained in any forward-looking information. The forward-looking information included in this news release are made as of the date of this news release and the Company expressly disclaims any intention or obligation to update or revise any forward-looking information whether as a result of new information, future events or otherwise, except as required by applicable law. Additional information identifying risks and uncertainties that could affect financial results is contained in the Company’s filings with Canadian securities regulators, which are available on the Company’s profile at www.sedarplus.ca.
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