ARSMF - Ares Strategic Mining Ships Lumps Plant Ahead of Schedule

December, 16 2021 08:30 AM Aureus Mining Inc

(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.
Breakthrough technology with bench testing completed.
Plant tests have demonstrated high grade and highrecovery results.
Plant optimization expertise supplied by internationalfluorspar producers.
Product predominantly anticipated to fuel the steelindustries.
Large interest expressed in Ares’ anticipatedproducts by international and domestic manufacturers.

Vancouver, B.C. - TheNewswire - December 16 th , 2021 — Ares StrategicMining Inc. (the “Company”) (CSE:ARS) (CNSX:ARS.CN) (OTC:ARSMF) (FRA:N8I1), is pleased toannounce that the Company has shipped its lumps plant ahead ofschedule. The plant is a large 3-storey facility, which will be theonly one of its kind in North America. Ares’ strategic partner inAsia, the Mujim Group, has committed to provide labor and expertisefor the installation and optimization of the plant. Mujim has alreadycommissioned several fluorspar mining operations in Asia, most notablyin Thailand and Laos, and have agreed to share their expertise andexperience to assist Ares commence operations as efficiently aspossible. Mujim’s Executive Chairman, Mr. Bob Li, will oversee theinstallation and initial production, and will be appointed as theChief Technology Officer for the plant commissioning.

Earlier in 2021, the Company successfully ranmetallurgical tests using its ore through a test plant, producing highgrade product, meeting the specifications required by industry, whiledemonstrating high recovery values. Industrial manufacturers, bothinternational and domestic have expressed considerable interest in theproduct and are currently in negotiations with the company to developcontracts for future purchase of the metallurgical fluorspar lumps.The lumps are expected to principally supply the steel industries butwill also feed into the ceramics and glass industries.

Production Testing Using Ares’ Ore Through the LumpsPlant

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.”

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

The Company also announces the grant of stock optionsunder its Stock Option Plan to purchase an aggregate of 2,241,636common shares of the Company at a price of $0.31 per share for atwo-year term expiring December 15, 2023. The stock options weregranted to directors, officers, employees, and consultants of theCompany and are subject to any necessary regulatory approvals.

All securities issued in connection with the Offeringwill be subject to a statutory hold period expiring four months andone day after closing of the Offering. Completion of the Offering issubject to a number of conditions, including, without limitation,receipt of all regulatory approvals, including approval of theExchange. None of the securities to be issued in connection with theOffering will be or have been registered under the United StatesSecurities Act of 1933, as amended (the “1933 Act”), and none maybe offered or sold in the United States absent registration or anapplicable exemption from the registration requirements of the 1933Act. This press release is being issued pursuant to Rule 135c of the1933 Act and shall not constitute an offer to sell or a solicitationof an offer to buy, nor shall there be any sale of the securities, inany state where such offer, solicitation or sale would beunlawful.

Lost Sheep Fluorspar Project – Delta, Utah

100% owned – 5,982 acres – 353 Claims
•• Located in the SporMountain area, Juab County, Utah, approximately 214 km south-west ofSalt Lake City.
•• Fully Permitted –including mining permits.
•• NI 43-101 Technical Reportidentified extensive high-grade fluorspar with low levels ofimpurities.
•• Mining plan approved byBLM 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 Mark Bolin 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 control of theCompany. The reader is cautioned not to place undue reliance on anyforward-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. The forward-looking statements contained inthis news release are made as of the date of this news release and theCompany disclaims any intention or obligation to update or revise suchinformation, except as required by applicable law.

Company Name:	Aureus Mining Inc
Stock Symbol:	ARSMF
Market:	OTC
Website:	aresmining.com

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