American Tungsten Corp. (CSE: TUNG) (OTCQB: TUNGF) (FSE: RK90) has completed its minority investment in Viking Mines Limited, according to a company statement. The Canadian exploration company subscribed for 150,000,000 ordinary shares of Viking Mines for AUD$750,000.

The transaction required approval from Viking Mines' shareholders, which has been received. American Tungsten's investment was part of a broader financing round completed by Viking Mines.

American Tungsten focuses on tungsten and magnetite assets in North America and is advancing the IMA Mine Project in Idaho. The company holds an exclusive option to acquire full ownership of the historic underground tungsten property, subject to a 2% royalty, and has expanded its position with 113 federal claims covering nearly 2,000 acres.