Mr. James Walker reports

ARES STRATEGIC MINING LOCATES DOZENS OF LARGE FLUORSPAR TARGETS ACROSS THE SPOR MOUNTAIN RANGE

Ares Strategic Mining Inc. has released the results of a third-stage satellite-based exploration at its Spor Mountain fluorspar project in Utah. Maps prepared for Ares by XMTS Resources show recurring interpreted anomalies across surveyed portions of the range and identify 49 preliminary target locations for follow-up work, including a cluster near existing mine infrastructure.

A district with room for new discoveries

The maps show interpreted target traces along a broad surveyed corridor beyond the active Lost Sheep workings. Spor Mountain has a long fluorspar mining history, yet much of the range outside established workings has seen limited testing against modern district-wide target maps. The recurring pattern gives Ares a substantial long-term exploration opportunity alongside its current operations.

From regional patterns to 49 preliminary targets

XMTS's phase 3 material advances earlier broad mapping into 49 numbered preliminary target locations. They include a wider pattern across the range and a cluster near Ares's mine infrastructure. The company will rank them against mapped structures, earlier geophysical work, access and permitting requirements.

Building on earlier district work

The phase 3 work adds a targeting layer to Ares's earlier exploration. In 2022, the company reported airborne radiometric and magnetic surveys and a ground gravity survey that identified prospective areas across Spor Mountain. Ares will compare the latest locations with those separate data sets, historical workings and field observations before selecting follow-up sites.

Exploration alongside operating progress

Lost Sheep ore is being mined, hauled to the company's Delta facility and introduced into its metallurgical lumps plant during live-material optimization. The maps offer potential future areas to evaluate as Ares builds a longer-term supply plan. Any contribution from a new target would require fieldwork, technical evaluation, applicable permits and an economic mining decision.

James Walker, president and chief executive officer of Ares Strategic Mining, commented: "We are mining fluorspar at the Lost Sheep and putting that ore through our Delta plant. These maps show a much larger opportunity beyond today's workings. Interpreted signatures recur across the surveyed range, including some close to our infrastructure. We will test those signatures against the geology on the ground and our earlier surveys, then advance the most promising targets in sequence. If confirmed, they could give the Utah operation valuable future options."

Next exploration steps

Ares plans to check the phase 3 co-ordinates and methods against earlier geophysical and geological data and then undertake field mapping and sampling where warranted. The results will guide priorities near existing infrastructure and farther across its Spor Mountain ground. Drilling decisions will follow that review.

The XMTS presentation provides interpretive maps and target co-ordinate tables. No new field sampling, assays or drilling results have been conducted on these targets yet. Target positions and interpretations require field verification and do not establish fluorspar grade, thickness, continuity, tonnage, economic viability, or a mineral resource or reserve.

The company also announced issuance of 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 3,066,708 common shares of the company to settle approximately $874,011.79 owed to the various arm's-length and non-arm's-length parties. The share settlement is subject to Canadian Securities Exchange approval.

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 (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 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 Paul B. Baker, minerals program manager, Bureau of Land Management (Dec. 12, 2016).

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