ARSMF - Ares Strategic Mining Completes Rail Spur Construction Opening Delivery Access Across the Country
(TheNewswire)
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Ares signs lease agreement with Union Pacific.
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Design work and construction completed.
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Rail spur opens delivery routes to ship products acrossNorth America.
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Large U.S. industrial base requiring Ares products cannow receive large bulk shipments.
Vancouver, B.C. - TheNewswire- April 25 th , 2023 — AresStrategic Mining Inc. (“Ares” or the “Company”) (TSXV:ARS)(OTC:ARSMF) (FRA:N8I1), is very pleased to announce it has completeddevelopment and construction work on its Millard County rail spur,opening up the United States and North America for delivery of theCompany’s future industrial products.
Ares has completed structural design, mechanicaldesign, electrical design, stormwater lift station design,loading/unloading facility design, and design of spill containment.The track concept design submission and the final track design planwere submitted to Union Pacific Railroad (UPRR) for review andreceived approval. Following approval track work was completed at theCompany’s Lynndyl site, north of its new industrial site in Delta,Utah.
Rail Spur Schematic Layout
James Walker, President and CEO of the Company said,“The Company and its team are extremely pleased to have the railspur work completed, we now have a less expensive way of shippinglarge orders anywhere in North America. Union Pacific can transportany quantity of product the company is able to produce, with regularpickups of railcars available, and a great track record of timelydelivery. Combined with our new industrial site and the processing facility currently under build, we areestablishing an efficient and streamlined future operation.”
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.
Lost Sheep Fluorspar Project – Delta, Utah
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100% owned – 5,982 acres – 353 Claims
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Located in the Spor Mountain area, Juab County, Utah,approximately 214 km south-west of Salt Lake City.
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Fully Permitted – including mining permits.
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NI 43-101 Technical Report identified extensivehigh-grade fluorspar with low levels of impurities.
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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, geological reports,historical production data and current engineering work completed orin the process by Ares, the Company intends to move forward with thedevelopment 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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