NEW YORK Junior mining
company Tungsten Corp. has acquired all the issued and
outstanding shares of Nevada Tungsten Holdings Ltd.
The acquisition includes an
option on certain domestic mineral rights in regard to a number
of mining claims for tungsten mineralization, the New
York-based company said.
The company has also closed a
private placement for $500,000, which will be used for
"With the completion of our
initial transactions, we are moving rapidly ahead in order to
execute our strategic plan to participate in the revitalization
of a domestic tungsten mining sector," president Guy Martin
said in a statement. "With significantly improved mineral value
over the past decade, combined with restrictive practices by
overseas producers, we believe there is solid business case and
potential for the growth of the sector in America today."