Mr. Lewis Black reports

ALMONTY ADVANCES INTENT TO BECOME THE LEADING U.S. INTEGRATED TUNGSTEN PRODUCER WITH ACQUISITION OF GENTUNG BROWNS LAKE TUNGSTEN PROJECT IN MONTANA

Almonty Industries Inc. has commenced operations in the United States with the successful acquisition of a 100-per-cent ownership of the Gentung Browns Lake tungsten project in Beaverhead county, Montana. With this closing, Almonty has added one of the most advanced undeveloped tungsten assets in the United States to its global portfolio.

Project highlights:

• National Instrument 43-101 total mineral resources: 7.53 million tonnes of 0.315 per cent WO3 at 0.10-per-cent cut-off (1);
• Deposit type: contact metasomatic garnet skarn hosting scheelite mineralization;
• Mining method: room-and-pillar underground development in competent skarn rock;
• Metallurgy: greater-than-90-per-cent-tungsten recovery; 20- to 25-per-cent garnet recovery;
• Infrastructure: road access, nearby power, water rights and existing mill site;
• Development path: exclusive rights to explore and develop the Gentung Browns Lake corridor; targeting potential production readiness by second half 2026;
• Expected output: approximately 140,000 metric tonne units of output per year based on initial design expectations.

(1) National Instrument 43-101 technical report on the Gentung tungsten project, Beaverhead county, Montana, United States (effective date: February, 2012).

The acquisition marks a major step in reinforcing the United States' domestic tungsten supply capabilities, providing Almonty with additional capacity that could support future deliveries to defence contractors and other strategic industries located in the United States as demand for secure, non-Chinese tungsten sources continues to grow. The acquisition by the company of the Gentung Browns Lake project aligns with the continuing initiatives of the U.S. government to strengthen critical mineral independence across defence, aerospace and advanced technology sectors, positioning Almonty as a leading Western producer capable of supplying tungsten directly from within the U.S. industrial and strategic base while ensuring long-term stability for allied supply chains.

"This closing marks a transformative moment for Almonty," said Lewis Black, chairman and chief executive officer of Almonty Industries. "By entering the United States, we are expanding into the world's most strategic market for tungsten, one that is actively rebuilding domestic supply chains and reducing reliance on China. The Gentung Browns Lake project positions Almonty as a long-term, integrated U.S. supplier capable of supporting critical industries from defence and aerospace to semiconductors and advanced manufacturing. Anchored by our flagship Sangdong mine, this acquisition establishes the foundation of a Western tungsten powerhouse with the ability to deliver secure, sustainable and high-quality supply to the United States and its allies."

The Gentung Browns Lake project acquisition represents a continuation of Almonty's vision to establish a fully integrated, Western-based tungsten platform spanning Europe, Asia and North America. With construction of the Sangdong mine advancing toward completion, steady production at the Panasqueira mine and renewed growth from its Spanish projects, Almonty is uniquely positioned to leverage cross-continental expertise and scale. The company's U.S. presence opens the door to deeper industrial partnerships, new technological collaborations and potential downstream opportunities that align with global efforts to secure resilient supply chains for critical minerals. As Almonty continues to execute its growth strategy, the Gentung Browns Lake project is expected to stand as a key U.S. pillar in delivering sustained value, operational excellence and long-term leadership in the global tungsten market.

About Almonty Industries Inc.

Almonty is a leading supplier of conflict-free tungsten -- a strategic metal critical to the defence and advanced technology sectors. As geopolitical tensions heighten, tungsten has become essential for armour, munitions and electronics manufacturing. Almonty's flagship Sangdong mine in South Korea, historically one of the world's largest and highest-grade tungsten deposits, is expected to supply over 80 per cent of global non-Chinese tungsten production upon reaching full capacity, directly addressing critical supply vulnerabilities highlighted by recent U.S. defence procurement bans and export restrictions by China. With established operations in Portugal and additional projects in Spain, Almonty is strategically aligned to meet rapidly rising demand from Western allies committed to supply chain security and defence readiness.

We seek Safe Harbor.