Mr. Lewis Black reports

ALMONTY ANNOUNCES THE FILING OF ITS FINANCIAL STATEMENTS AND MD&A FOR THE YEAR ENDED SEPTEMBER 30, 2015

Almonty Industries Inc. has filed its audited consolidated financial statements and management's discussion and analysis for the year ended Sept. 30, 2015. (Unless otherwise indicated, all currency amounts contained in this news release are in thousands of Canadian dollars.)

The attached financial information is for the three months and years ended Sept. 30, 2015, and 2014.

                               FINANCIAL HIGHLIGHTS
                                     (in $000)
                                                         Three months   Three months  
                                                                ended          ended  
                                                             Sept. 30,      Sept. 30, 
                                                                 2015           2014  

Gross revenue                                                  $8,415         $8,451  
Mine production costs                                          17,481          2,939  
Mine impairment                                                 1,708             --  
Depreciation and amortization                                   2,412            370  
Earnings (loss) from mining operations                        (13,186)         5,142  
General and administrative costs                                1,732          1,442  
Other (gain) loss realized (FX, asset disposal and other)         146            378  
Non-cash compensation costs                                        --             --  
Earnings (loss) before the undernoted items                   (15,064)         3,322  
Interest expense                                                  561            139  
Foreign exchange loss                                           1,017             55  
Non-controlling interest                                         (774)            --  
Deferred tax provision                                           (556)          (502) 
Net income (loss) for the period                              (15,312)         3,630  
Income (loss) per share, basic                                 ($0.26)         $0.10  
Income (loss) per share, diluted                               ($0.26)         $0.10  
Dividends                                                          --         (1,001) 
                                                                                      
                                                                 Year           Year  
                                                                ended          ended  
                                                             Sept. 30,      Sept. 30, 
                                                                 2015           2014

Gross revenue                                                 $36,142        $29,609  
Mine production costs                                          37,743         10,287  
Mine impairment                                                 1,708             --  
Depreciation and amortization                                   8,545          4,610  
Earnings from mining operations                               (11,854)        14,712  
General and administrative costs                                5,562          3,213  
Other (gain) loss realized (FX, asset disposal and other)         398            919  
Non-cash compensation costs                                       379             56  
Earnings (loss) before the undernoted items                   (18,193)        10,524  
Interest expense                                                1,404            443  
Foreign exchange loss                                           1,313            188  
Gain from insurance settlement                                     --             --  
Non-controlling interest                                         (747)            --  
Deferred tax provision                                           (618)          (502) 
Net income (loss) for the period                              (19,545)        10,395  
Income (loss) per share, basic                                 ($0.38)         $0.28  
Income (loss) per share, diluted                               ($0.38)         $0.28  
Dividends                                                          --         (1,001) 

A teleconference to review the fourth quarter and year ended Sept. 30, 2014, will be held at 9 a.m. ET on Feb. 10, 2016. Representing management will be Lewis Black, chairman, president and chief executive officer, and Dennis Logan, chief financial officer. A question-and-answer period will follow brief remarks from management.

To participate in the teleconference:

If calling from North America:  1-877-201-0168

If calling from outside North America:  1-647-788-4901

An archive of the conference call will be available until March 10, 2016.

To access the archive:

From North America:  1-855-859-2056 (passcode 42090361 followed by the number sign)

From outside North America:  1-404-537-3406 (passcode 42090361 followed by the number sign)

We seek Safe Harbor.