Mr. James Walker reports

ARES STRATEGIC MINING ACQUIRES HEAVY MINING EQUIPMENT TO ADVANCE FLUORSPAR PROJECT

Ares Strategic Mining Inc. has acquired the heavy mining equipment critical to the advancement of its flagship fluorspar project. As the owner of the only fluorspar mine in the United States, Ares is well positioned to support domestic industries with essential minerals used in nuclear energy, electronics and other key sectors.

This acquisition marks a significant step forward in the company's strategy to meet the rising demand for fluorspar, particularly as a critical component in uranium enrichment and other industrial applications. By ensuring a reliable domestic supply chain, Ares is actively contributing to U.S. energy security and industrial independence.

A key milestone for U.S. fluorspar production

Fluorspar, used to produce hydrofluoric acid, is indispensable in the manufacturing of uranium hexafluoride for nuclear fuel production. As global interest in nuclear energy surges, Ares's production capacity will be integral to bolstering the U.S. nuclear energy sector. The newly acquired heavy mining equipment will allow Ares to scale operations efficiently, ensuring timely delivery of high-grade acidspar to support critical industries.

Strengthening partnerships and industry alignment

"The acquisition of this equipment is a major milestone in Ares's journey to become a leading supplier of high-grade fluorspar in North America," said James Walker, president and chief executive officer of Ares Strategic Mining. "With this development, we are reinforcing our commitment to supporting domestic energy security, industrial growth and technological innovation."

Positioned for growth and sustainability

With its strategic advancements and collaborations, Ares Strategic Mining remains dedicated to its mission of delivering high-grade fluorspar to support national priorities, driving innovation and ensuring a sustainable future for its stakeholders.

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.

As part of its continuing efforts to manage the development of the company, Ares has entered several arrangements to further the business interests. At the request of the equipment suppliers, Ares has agreed to settle $480,541.91 in equipment purchase costs through the issuance of up to 2,529,168 Ares common shares. Ares has also agreed to settle $91,795.20 in professional lobbying service fees through the issuance of up to 483,133 Ares common shares. Additionally, Ares has agreed to settle $8,900 in management service fees through the issuance of up to 46,842 Ares common shares. Purchases of an Ares debenture have also requested the conversion of their $192,720.70 investment to 741,234 Ares common shares. All shares issued in connection with the settlement will be subject to a four-month hold period in accordance with applicable securities laws.

About Ares Strategic Mining Inc.

Ares Strategic Mining is a mining company focused on the development of its fluorspar projects in the United States. The company aims to become a significant supplier of high-grade fluorspar to North American markets, supporting industries vital to modern technology and infrastructure.

Lost Sheep fluorspar project -- Delta, Utah:

• 100 per cent owned; 5,982 acres over 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, BLM (Aug. 24, 1992);
  • Renewed by Paul B. Baker, minerals program manager, BLM (Dec. 12, 2016).

We seek Safe Harbor.