VKA secures drilling approval for US tungsten project - rig to arrive on site in June.

Our Investment Viking Mines (ASX: VKA | OTC: VKALF) just received US Bureau of Land Management (BLM) approval for drilling at its tungsten project in Nevada, USA.

This will be VKA’s first drill program on the project - a 63-hole program - the first sub-surface exploration work at the project in over 40+ years.

With permitting now done, VKA has confirmed the 3 next items to tick off ahead of drilling:

• Contractor selection is in final stages - contract award expected shortly
• Drill site access and pad preparation to commence in June
• Drill rig mobilisation anticipated late in the June quarter

A reminder on what VKA will be drilling

VKA’s project had produced tungsten back in the 1950’s.

Plus alongside the drilling, VKA is also actively working on building a mine restart strategy around the project.

(while tungsten prices are at all time highs and US critical minerals are in favour)

Here is a picture from earlier when VKA acquired the project:

(source)

VKA then acquired a historical data-set, shot some geophysics and digitised it into a new exploration model that has more than 8x’ed the exploration upside on the project.(source)

The main target area for the upcoming drilling will be the purple lines around the geophysical anomaly on the map below:

(source)

Here is everywhere VKA plans to drill with its 63-hole program:

(source)

Our most recent deep dive article can be found here also: VKA: Ancient scrolls delivering more hits

VKA also held a webinar recently that you can view here:

Viking Mines (ASX: VKA | OTC: VKALF) Investor Webinar | April 2026

What we want to see next from VKA:

Here are the key milestones we want to see VKA hit over the coming months:

🔄 Processing concept study with Mineral Technologies

Mineral Technologies (a subsidiary of the ~$5BN Downer Group) is working on flowsheet design and CAPEX/OPEX estimates.

Further testing is ongoing with more results from cleaner flotation testwork expected in late April / early May.

We also would like to see how existing tailings (that were recently sampled) performs with similar testing or even on this exact same circuit.

Recent/ongoing results will feed directly into that study - the gravity-led flowsheet is looking increasingly viable.

Here are the milestones we are tracking for this:

• ✅ Rougher gravity testwork - 16x upgrade (source)
• ✅ Cleaner gravity testwork - 53x upgrade to 63.6% WO3 (source)
• 🔄 Cleaner flotation testwork - underway now to produce saleable grade from flotation circuit
• 🔄 Ore sorting testwork - ~40kg sample being tested
• 🔄 3D geological model - being finalised
• 🔄 Modular "Rapid-Start" gravity circuit design - to feed into development studies

🔲 Maiden drilling program (late June quarter).

VKA has today gotten approval from the Federal Agencies for drill permitting on a 63 hole program.

So now VKA can lock in the drilling contractors and the schedule, which remains on track to mobilise to site in June with drilling in the same month, we should see drill pad preparation works begin in June also.

🔄 Permitting and 3D geological model

WSP (~C$28BN WSP Global) is running baseline environmental and permitting work.

A 3D geology model is being completed using recently digitised mapping and drillhole data.

(source)

Here is a gantt chart VKA recently put out that details everything being worked on more broadly:

(source)