Mr. James Walker reports

ARES STRATEGIC MINING INC. PUTS ARRANGEMENTS IN PLACE AHEAD OF ANTICIPATED RAMP UP AT ITS UTAH OPERATION

Ares Strategic Mining Inc. has issued common stock for services rendered to the company by various arm's-length and non-arm's-length parties as part of the anticipated ramp-up for Ares's Utah operations. The company plans to issue 295,887 common shares of the company to settle approximately $42,418.56 owed to the various arm's-length and non-arm's-length parties. The share settlement is subject to Canadian Securities Exchange approval.

As part of arrangements being made to accelerate development of the company, Ares has solicited the services of Craven Capital last year, responsible for the institutional investment within the company that is supporting its current ramp-up efforts. The company shall pay Craven for the successful capital raise a fee equivalent to 7 per cent and assign one warrant per share of common stock equivalent to the consultancy fee (7 per cent). The number of warrants will be equivalent to the number of shares that could be purchased with the fee in the open market. For purposes of valuing the number of shares of the company purchasable in this regard, the share price shall be calculated as the volume-weighted average price of shares traded on the Canadian Securities Exchange (or equivalent exchange if appropriate) in the 20 trading days prior to the payment of the fee. Each warrant will entitle the holder thereof to purchase one common share of the company for a period of 36 months from the date of assignment at an exercise price of 30 cents.

The common shares issued pursuant to the share settlement will be subject to a four-month hold period. The share settlement is subject to the submission of final documentation and final approval of the exchange.

James Walker, chief executive officer of Ares, said: "We are very grateful for the contributions made by individuals in the past few months to help the company achieve its ambitions. Their choice to be compensated in shares demonstrates their belief in the company's future and its ambitions, and we are confident that their belief will be rewarded."

About Ares Strategic Mining Inc.

Ares 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.

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