ARSMF - Ares Strategic Mining Completes Purchase Agreement for 50-Acre Industrial Property

(TheNewswire)

• Property possesses $2M of infrastructure and buildings,saving Ares construction costs and time

• Property contains its own water wells to supply theAres processing operation

• Direct access to highway, power, water, andgas

• Property is several miles from Delta City, requiring nomining camp for employees

Vancouver, B.C. June 27 th , 2022 — TheNewswire - AresStrategic Mining Inc. (the “Company”) (CSE:ARS) (OTC:ARSMF)(FRA:N8I1), is pleased to announce that the Company has concludednegotiations and signed a purchase agreement for a 50-acre,industrially zoned, manufacturing site, for its upcoming fluorsparprocessing operation. The property is located in Delta, Utah, theclosest city to the Company’s fluorspar mine and claims.

The new property is already fitted with utilities, andpossesses its own water well, reducing reliance on local waternetworks. The facilities will be able to locate both Ares’ lumps andflotation plants, and house a large tailings facility for the comingdecade. The property is connected directly to its mine and claimsthrough highways and heavy industrial roads, requiring noinfrastructure upgrades outside of the facility to receive material.

The Company will now deliver to its new site all itspurchased plant and equipment, and begin the installation of itsprocessing facilities. The Company will no longer have to returntailings to site, either storing them within the anticipated tailingsdam, or selling the waste aggregate to local businesses andconstruction projects.

James Walker, President and CEO of the Company said,“Securing the processing site is a major advance towards production.Locating the most suitable site required balancing the site’s size,location, facilities, accessibility, suitability, and cost – theCompany believes it has located the best and most balanced industrialfacility and land available. The new acquisition means no second siteis needed for the second processing facility, and staff can be moreefficiently managed between operations. Ares will have a goodworkforce to draw from, accessible water, good access for trucks, andnearby rail for transport of its products throughout theU.S.”

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 the United States translatesto a faster permitting period, enabling mining operations to initiatemore quickly than operations for conventional minerals.

Paul Sarjeant, P.Geo., is a qualified person as definedby NI 43-101 and has reviewed and approved the technical contents ofthis news release. Mr. Sarjeant is not independent to the Company ashe is a director and shareholder.

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 Mike Gates – Minerals Program Manager,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 byemail 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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