ARSMF - Ares Strategic Mining: Exercise of Warrants for Proceeds of $936650

(TheNewswire)

Vancouver, B.C. - TheNewswire - January 24 th , 2022 — Ares StrategicMining Inc. (the “Company”) (CSE:ARS) (CNSX:ARS.CN) (OTC:ARSMF) (FRA:N8I1), is pleased toannounce the Company has received additional cash proceeds of $936,650from the exercise of 5,445,667 warrants priced at $0.15 to exercise,and 748,750 warrants priced at $0.16 to exercise. The final expirydate of the warrants as issued during the Company's February 2020financing, is February 13th, 2022.

The incoming finances will be used towards equipment purchases andplant construction for the Company's fluorspar production operation inUtah.

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 by phone at604-345-1576 or by email at jwalker@aresmining.com

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