ARSMF - Ares Strategic Mining Ships all Lumps Plant Steel and Infrastructure Equipment to New Site
(TheNewswire)
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Company ships Plant and Building steel and relatedinfrastructure.
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Ares has been securing land and buildings to houseexpanded processing operation.
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Equipment to ship directly to new site.
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Steel structures and equipment will be integrated withAres’ Lumps Plant.
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Ares’ partners will accompany the steel and equipmentto site to assist with installation.
Vancouver, B.C. - TheNewswire- May 17 th , 2022 — Ares Strategic MiningInc. (the “Company”) (CSE:ARS) (OTC:ARSMF)(FRA: N8I1), is pleased to announce that theCompany has packaged and shipped all its Lumps Plant infrastructure tothe United States, where it will be integrated with its recentlyarrived Lumps Plant at the Company’s new industrial site.
The steel structure will provide a 3-storey structure,which will house the Company’s Lumps Plant, allowing workers tooptimally adjust the plant as it produces metallurgical fluorsparlumps. The Lumps Plant will be the only one of its kind in the UnitedStates, so Ares has arranged for experienced international operatorsto accompany the plant to Utah, where they will assist with theconstruction and optimization of the plant. Figure 1 shows thecomponents and steel structures which have shipped to Ares’industrial site.
Metallurgical fluorspar lumps are an extremely indemand upgraded industrial product used in the steel industry. TheCompany is looking to supply internally within North America as partof its role as the only domestic U.S. producer once it reachesproduction. 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.
Figure 1 – Plant Steel Structure and all AssemblyPieces.
James Walker, President and CEO of the Company said,“The Company was faced with a steeply increasing steel price, andbacklogged orders, but navigated the problems quickly to source areputed supplier with a proven track record that could supply Areswith steel products within a reasonable cost and timeline. We havealso been working hard to acquire land for an expanded operation,which has allowed us to ship all our equipment directly to our newindustrial land. Our metallurgical tests have demonstrated ahigh-quality product which has garnered interest amongstmanufacturers, and we have elicited the assistance of experiencedgroups to assist us in the installation of our facility. This was an important step towards becoming part of theUnited States’ industrial base, and we will keep everyone abreast ofdevelopments as we continue to advance in that direction.”
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 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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