Mr. James Walker reports

ARES STRATEGIC MINING COMMENCES MINE PREPARATION AND MINE INSTALLATIONS WORK

Ares Strategic Mining Inc. has commenced construction and building work to ready its permitted mine site for producing fluorspar. The preparations and installations will provide greater feed for Ares's anticipated fluorspar production operation.

Earthworks are already under way, with site clearance, and equipment and worker facilities currently being constructed at the Lost Sheep mine area. Ares is working with Provo Mining to ensure that the operation of the mine and the processing of fluorspar is set to start later this year, with mining permits and authorizations already completed. Ares plans to bring to market a responsibly extracted high-purity fluorspar to supply the steel, chemical and EV (electric vehicle) sectors with a domestic and sustainable product.

Core drilling equipment arrives at Ares site

Ares is undertaking simultaneous activity across its mine site and processing site to expedite the Utah operation's development. In addition to the mine preparation, the company is currently constructing its lumps plant at its 50-acre industrial site. The company also recently paid in full for a new flotation plant capable of delivering the highest-grade fluorspar products needed by industry, enabling the company to have multiple product lines; that plant will be delivered to site later this year.

James Walker, chief executive officer and president of the company, said: "All our current work is building towards making Ares a leading domestic supplier of fluorspar. The company and team have made significant progress in the past year. The project is well financed and has professional and experienced teams working on both the mine and the processing site. We are looking forward to keeping our shareholders updated with our progress during this very productive period of development for our company and project."

In 2018, the U.S. government classified fluorspar as a critical mineral, deemed critical to U.S. national security and the economy. Fluorspar remains the only non-metallic critical mineral that is 100 per cent imported in the entire country. Fluorspar's classification as a critical mineral in the United States translates to a faster permitting period, enabling mining operations to initiate more quickly than operations for conventional minerals.

Lost Sheep 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 BLM (Bureau of Land Management):
  • First approved by Rex Rowley, area manager, Bureau of Land Management (Aug. 24, 1992);
  • Renewed by Mike Gates, mineral program manager, Bureau of Land Management (Dec. 12, 2016).

We seek Safe Harbor.