Mr. James Walker reports

ARES STRATEGIC MINING AWARDED MULTI-YEAR PENTAGON CONTRACT WITH ESTIMATED INITIAL AWARD VALUE OF ~$169M AND POTENTIAL TASK ORDERS UP TO $250M OVER FIVE YEARS

In a major development for the United States critical minerals industry, Ares Strategic Mining Inc. has been officially awarded a $168,938,267.30 contract by the U.S. Department of Defense (DoD) through the Defense Logistics Agency (DLA) -- a significant initiative to help strengthen America's domestic manufacturing and supply base and support the rebuilding of U.S. strategic mineral stockpiles.

The award is part of a five-year indefinite delivery/indefinite quantity (IDIQ) agreement, with a total contract ceiling of up to $250-million. "This is the kind of contract that transforms companies, and secures the future of U.S. industry," said James Walker, chief executive officer of Ares Strategic Mining. "We're not just producing fluorspar; we're helping build a more resilient and secure domestic supply chain for critical minerals."

This award represents a major milestone for Ares and further strengthens the company's positioning as a strategic domestic supplier of acid-grade fluorspar, a U.S.-designated critical mineral essential to defence readiness, industrial manufacturing, clean energy supply chains and high-tech applications.

Contract highlights

• Award value locked in: $168.9-million;
• Potential upside: up to $250-million through future task orders;
• Customer: United States Department of Defense;
• Supplier: Ares Strategic Mining -- the only U.S. producer of acid-grade fluorspar;
• Mission: support replenishment of government stockpiles of strategic and critical minerals.

This contract establishes Ares as a sole-source domestic supplier of acidspar to the U.S. government -- and the only U.S.-based operation positioned to deliver this critical mineral supply at scale.

Strategic national significance and a major step forward for domestic critical mineral independence

Acid-grade fluorspar (acidspar) is a vital input used in the production of hydrofluoric acid and fluorine-based materials, supporting industries including:

• Defence systems missile tech;
• Steel aluminum production;
• Fluorochemical manufacturing;
• Semiconductors, batteries and next-generation electronics;
• National defence-related supply chain resilience.

The United States has historically been 100-per-cent import-dependent for fluorspar, making the establishment of a domestic supply chain a critical national priority. This award marks a turning point. It not only validates the national importance of Ares' Utah-based Lost Sheep project, but also positions the company at the heart of America's effort to build a robust domestic sourcing network to ensure long-term self-sufficiency.

With this award, Ares is positioned to support the U.S. government's mission to invest in a more resilient and secure national supply chain and promote long-term growth by prioritizing domestic sourcing of critical minerals. James Walker added that: "This award reflects the U.S. government's commitment to revitalizing a long-neglected critical mineral supply chain. We are proud to support the U.S. government's strategic material reserves by supplying domestically sourced, high-grade acidspar. This contract confirms our leadership in rebuilding U.S. critical mineral capability and ensures our products directly contribute to national resilience, industrial strength and long-term security. We are now a partner in America's strategic future."

About Ares Strategic Mining Inc.

Ares Strategic Mining is a mining company focused on the development of its fluorspar projects in the U.S. 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 -- 353 claims;
• Located in the Spor Mountain area, Juab county, Utah, approximately 214 km southwest of Salt Lake City;
• Fully permitted -- including mining permits;
• NI 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.

We seek Safe Harbor.