Mr. James Walker reports

ARES STRATEGIC MINING COMPLETES MULTI YEAR DRILLING PROGRAM PLANNING FOR UTAH FLUORSPAR PROJECT

Ares Strategic Mining Inc.'s geological team has completed a generative drill target program to provide the company with multiple exploration targets for testing in the coming years. The program is the first phase of a multiyear development plan that will run concurrently with the anticipated mining operation, and which is designed to identify the sites for its subsequent operations.

The program delineated areas exhibiting fluorspar surface showings and breccias indicating near-surface targets, in conjunction with structures bearing geological evidence for additional fluorspar mineralization. When compiled, this amalgamated information demonstrates a consistent trend across the whole Spor mountain range, all of which fall into Ares's claim areas. Certain areas have exhibited high numbers of pipes clustered within tight spacings, providing evidence for larger fluorspar mineralized zones, possibly connecting at shallow depth, with strong open-pit potential. The tight target spacings across the Spor mountain range's length indicate that an airborne radiometric survey can now be justified across the entire Spor Mountain area, which is expected to add definition and unveil new possible mineralized zones, adding continuity between the already mapped fluorspar outcrops and past-producing mines.

The company has selected and prioritized drill targets from the recently completed large-scale mapping exploration work across the Spor mountain range. More targets are expected to be added to the list as detailed work progresses. The permitted Lost Sheep mine to the north of the Spor mountain range is expected to be the company's first operation, followed by the Bell Hill site to the south, which encompasses a large number of surface showings, which the company has begun permitting for development.

James Walker, president and chief executive officer of the company, said: "The Spor Mountain is famous for its unusual and exotic accessory mineral associations part of its geological formations that we're gradually discovering as we untap more about the project's potential. We're looking forward to developing these targets and add definition to our discoveries, anticipating some news in the future. The area is attracting a lot of attention from local operations, who are interested in both the minerals present at site, fluorspar and other rare minerals, so we are fortunate to have staked the district and tied up the potential. The Ares geological team have done some excellent mapping and target identification over the recent months, and have provided us with many years of fluorspar targets, which we will develop alongside our anticipated operation."

Spor Mountain fluorspar project, Delta, Utah

• 100-per-cent-owned 5,982 acres, 353 claims;
• Located in the Spor Mountain area, Juab county, Utah, approximately 214 kilometres southwest of Salt Lake City;
• Fully permitted, including mining permits;
• National Instrument 43-101 technical report identified extensive high-grade fluorspar with low levels of impurities;
• Mining plan approved by Bureau of Land Management;
  • First approved by Rex Rowley, area manager, Bureau of Land Management, Aug. 24, 1992;
  • Renewed by Paul B. Baker, minerals program manager, Bureau of Land Management, Dec. 12, 2016.

Raul Sanabria, PGeo, is a qualified person as defined by National Instrument 43-101, and has reviewed and approved the technical contents of this news release. Mr. Sanabria is not independent to the company as he is a director and shareholder.

The company would also like to correct its Jan. 13 press release detailing its private placement announcement. The company announced closing aggregate proceeds of approximately $803,652 by the issuance of 1,891,673 shares at a price of 38 cents per share in error. The company's private placement actually closed aggregate proceeds of approximately $803,652 by the issuance of 2,114,873 shares at a price of 38 cents per share.

We seek Safe Harbor.