Mr. Lewis Black reports

ALMONTY INDUSTRIES INC. ANNOUNCES ITS INTENTION TO RENEW ITS NORMAL COURSE ISSUER BID

Almonty Industries Inc. intends to initiate a normal course issuer bid, subject to the approval of the TSX Venture Exchange. The company intends to purchase, from time to time, as it considers advisable, up to 7,331,011 common shares (which are equal to 6.6 per cent of the outstanding common shares) on the open market through the facilities of the TSX-V or any other means that may be approved by the TSX-V. The price that Almonty will pay for any common share under the bid will be the prevailing market price on the TSX-V at the time of such purchase. Common shares acquired under the bid will be subsequently cancelled. Almonty currently has 110,896,109 common shares outstanding. The company has appointed Integral Wealth Securities Ltd. to act as its broker through which the bid will be conducted.

The bid is expected to commence on Sept. 30, 2016, and will terminate on Sept. 29, 2017, or such earlier time as the bid is completed or terminated at the option of Almonty. A copy of the Form 5G (notice of intention to make a normal course issuer bid) filed by the company with the TSX-V can be obtained from the company upon request without charge.

The company is commencing the bid because it believes that, from time to time, the market price of its common shares may not properly reflect the underlying, intrinsic value of Almonty, and that, at such times, the purchase of common shares for cancellation will increase the proportionate interest of, and be advantageous to, all remaining shareholders.

We seek Safe Harbor.