ARSMF - Ares Strategic Mining Announces Arrival of All Plant Equipment and Steel

(TheNewswire)

• The plant will be the first of its kind in NorthAmerica.

• Once operational the plant will produce the onlydomestic supply of fluorspar in the US.

• Plant optimization expertise supplied by internationalfluorspar producers.

• Product predominantly anticipated to fuel the steelindustry.

• Significant interest expressed in Ares’ anticipatedproducts by international and domestic manufacturers.

Vancouver, B.C. - TheNewswire - July 11 th , 2022 — Ares Strategic Mining Inc. (the“Company”) (CSE:ARS) (CNSX:ARS.CN) (OTC:ARSMF) (FRA:N8I1),is pleased to announce that the Company’s plant equipment and steelhas arrived at its new industrial site in Delta, Utah. The plant is alarge 3-storey facility, which will be the only one of its kind inNorth America. The plant equipment and steel, involving 11 shippingcontainers, were shipped from Asia and was routed through Long Beach,California.

Ares’ strategic partner in Asia, the Mujim Group, hascommitted to provide labor and expertise for the installation andoptimization of the plant. Mujim has already commissioned severalfluorspar mining operations in Asia, most notably in Thailand andLaos, and have agreed to share their expertise and experience toassist Ares commence operations as efficiently as possible. Mujim’sExecutive Chairman, Mr. Bob Li, will oversee the installation andinitial production, and will be appointed as the Chief TechnologyOfficer for the plant commissioning.

Industrial manufacturers, both international anddomestic, have expressed considerable interest in the product and arecurrently in negotiations with the Company to develop contracts forfuture purchases of the metallurgical fluorspar lumps. The lumps areexpected to principally supply the steel industry, but will also feedinto the ceramics and glass industries.

In 2018 the U.S. government classified fluorspar as aCritical Mineral, “deemed critical to U.S. national security and theeconomy”. Fluorspar remains the only non-metallic Critical Mineralwhich is 100% imported in the entire country. Fluorspar’sclassification as a Critical Mineral in theUnited States translates to a faster permitting period, enablingmining operations to initiate more quickly than operations forconventional minerals.

James Walker, President and CEO of the Company said,“All the components of our operation, construction, and productionare lining up. We are planning to coincide the work to begin themining with the infrastructure and processing construction, as well asthe release of negotiated US government grants allocated for ourproject. We have obtained enormous support locally, with nearbyoperations offering to assist us with the supply of power, land, andeven rail spurs for shipping our product. We have long-term plans forproject and Company expansion over the coming years and anticipatebecoming an important part of the US industrial landscape.”

Lost Sheep Fluorspar Project – Delta, Utah

• 100% owned – 5,982 acres – 353 Claims

• Located in the Spor Mountain area, Juab County, Utah,approximately 214 km south-west of Salt Lake City.

• Fully Permitted – including mining permits.

• NI 43-101 Technical Report identified extensivehigh-grade fluorspar with low levels of impurities.

• Mining plan approved by BLM 1

First approved by Rex Rowley – Area Manager, Bureauof Land Management – 24th August 1992.

Renewed by Paul B. Baker – Minerals ProgramManager, Bureau of Land Management – 12th December 2016.

ON BEHALF OF THE BOARD OF DIRECTORS OF

ARES STRATEGIC MINING INC.

James Walker
Chief Executive Officer and President

For further information, please contact James Walker byphone at 604-345-1576 or by email at jwalker@aresmining.com

DISCLOSURE AND FORWARD-LOOKINGSTATEMENTS:

Companies typically rely oncomprehensive feasibility reports on mineral reserve estimates toreduce the risks and uncertainties associated with a productiondecision. Historically, situations where the issuer decides to put amineral project into production without first establishing mineralreserves supported by a technical report and completing a feasibilitystudy have a higher risk of economic or technical failure, though someindustrial mineral ventures are relatively simple operations with lowlevels of investment and risk, where the operating entity hasdetermined that a formal prefeasibility or feasibility study inconformance with NI 43-101 and 43-101 CP is not required for aproduction decision. Based on historical engineering work, geologicalreports, historical production data and current engineering workcompleted or in the process by Ares, the Company intends to moveforward with the development of its Utah asset.

Certain information in this newsrelease may contain forward-looking statements that involvesubstantial known and unknown risks and uncertainties. Forward-lookingstatements are often identified by terms such as “will”,“may”, “should”, “anticipate”, “expects” and similarexpressions. All statements other than statements of historical factincluded in this news release are forward-looking statements thatinvolve risks and uncertainties. There can be no assurance that suchstatements will prove to be accurate and actual results and futureevents could differ materially from those anticipated in suchstatements. Important factors that could cause actual results todiffer materially from the Company’s expectations include thefailure to satisfy the conditions of the relevant securitiesexchange(s) and other risks detailed from time to time in the filingsmade by the Company with securities regulations. The reader iscautioned that assumptions used in the preparation of anyforward-looking information may prove to be incorrect. Events orcircumstances may cause actual results to differ materially from thosepredicted, as a result of numerous known and unknown risks,uncertainties, and other factors, many of which are beyond the controlof the Company. The reader is cautioned not to place undue reliance onany forward-looking information. Such information, although consideredreasonable by management at the time of preparation, may prove to beincorrect and actual results may differ materially from thoseanticipated. Forward-looking statements contained in this news releaseare expressly qualified by this cautionary statement. Theforward-looking statements contained in this news release are made asof the date of this news release and the Company disclaims anyintention or obligation to update or revise such information, exceptas required by applicable law.

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