Armstrong has been in fine form for Blackburn this season, scoring 19 goals and providing three assists from 31 Championship appearances so far.
The 24-year-old’s performances for Mowbray’s side have not gone unnoticed, with Premier League side West Ham credited with an interest in the player.
As Armstrong continues to be linked with a move to the top flight, Blackburn boss Mowbray has explained that he would not deny the striker such an opportunity as long as the club received a suitable transfer fee.
However, the Blackburn manager went on to express his desire to see Armstrong put pen to paper on a new contract with the club and help them earn promotion.
“Of course, if the Premier League comes calling I would never try and deny a player the chance to go and play in the Premier League as long as the club is recompensed correctly for the value we thought and what we could reinvest“, Mowbray was quoted as saying by the Lancashire Telegraph.
“That’s a potential scenario.
“The other scenario is that he stays, signs a new deal and scores loads and loads of goals and helps us get to the Premier League.
“Footballers and the power they have, they can sort of dictate a little bit of course. Let’s wait and see.
“I hope Adam feels he’s at the right place, I’ve had Adam before at Coventry, he scored 20 goals that season, he’s still a relatively young player.
“He’ll have to keep scoring goals, he’s done very well so far.“
There have been suggestions that Blackburn would want a fee of £25m to sanction a transfer for Armstrong.