HENDERSON, NEVADA--(Marketwire - Feb. 20, 2013) - US Tungsten Corp. ("US Tungsten" or "USTU"), (OTCQB:USTU) a company focused on becoming a near-term North American focused tungsten producer, is pleased to announce effective February 19, 2013, entering into a share cancellation/return to treasury agreement with Matthew Markin, President of US Tungsten.
Mr. Markin has agreed to return 123,000,000 shares to the Company treasury for cancellation. This transaction will render the company with approximately 75,750,000 common shares issued and outstanding.
About US Tungsten Corp:
U.S. Tungsten Corp. was built upon one mandate: to find tungsten right here at home solving the looming crisis in domestic supplies.
As a result, US Tungsten has assembled a team of tungsten experts who are skilled and experienced in the exploration of this specialty metal. The company's initial focus is in the western US where tungsten was mined in the past, and is also home to many discoveries that remain undeveloped. The last tungsten mine in the US closed in 2000 and no domestic tungsten mining has occurred since. Historic tungsten mines and occurrences are found in the West, particularly in Montana, California, Nevada, Colorado and Arizona.
Beginning early in 2012, the company launched their specialty metals search in Montana. US Tungsten's first acquisition was a property in the western portion of the state where historical mining has produced high grade tungsten through 1956 - 1957. Following our initial prospecting and assessment, we plan to conduct initial exploration in 2012 and 2013.
US Tungsten's goal is to expand our holdings through aggressive prospecting and staking across the western U.S, building a domestic, secure project portfolio of tungsten and other specialty metals projects.
For further information, please visit the company's website: www.ustungsten.com
Safe Harbor Statement:
"Forward-looking statements", as that term is defined in Section 27A of the United States Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Statements which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future including, but not limited to, additional acquisitions. Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with mineral exploration. US Tungsten, Corp. assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that the beliefs, plans, expectations and intentions contained in press release are reasonable, there can be no assurance that such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in our current and periodic reports filed from time-to-time with the Securities and Exchange Commission.