ARSMF - Ares Strategic Mining: White House Commits to Securing a Made in America Supply Chain for Critical Minerals
(TheNewswire)
Highlights:
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Fluorspar is the only non-metallic Critical Mineral100% imported in the U.S.
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Ares anticipated to be the only fluorspar producer inboth the U.S and Canada.
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Ubiquitous manufacturing applicability: steel,aluminum, refrigeration units, electronics, cement, glass, fluorine,hydrofluoric acid, li-ion batteries, medical products.
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Significant interest expressed in Ares’ anticipatedproducts by international and domestic manufacturers.
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Grants have been identified and applications commenced.
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Multiple fluorspar projects under Ares control.
Vancouver, B.C. - TheNewswire - March 17 th , 2022 — Ares Strategic Mining Inc. (the“Company”) (CSE:ARS) (OTC:ARSMF) (FRA:N8I1), is pleased to provideexcerpts from a White House Press Office Release on February 22, 2022,regarding the Biden Administration's commitment towards Securing a Made in America Supply Chain forCritical Minerals, and how this potentially applies to Ares’fluorspar mine in Utah.
Why This Is Important to Ares
Fluorspar is classified as a critical mineral by U.S. HomelandSecurity because 100% of global production of fluorspar is imported,yet it has been identified as:
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(i) A mineral essential to the economic and national security of the UnitedStates ,
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(ii) Part of the supply chain which is vulnerableto disruption.
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(iii) Serving as an essential function in themanufacturing, the absence of which would have significantconsequences for the U.S. economy or national security.
Fluorspar is also part of the green energy solution, with wide usewithin the lithium-ion battery supply chain, as follows:
The Biden Administration will direct agencies to prioritize theproduction and processing of minerals necessary to produce keyproducts like batteries. As the Company is the only near-termfluorspar producer in the U.S. and Canada, these are favorablepolicies and developments to benefit the Company.
FACT SHEET: Securing a Made inAmerica Supply Chain for Critical Minerals; Biden-HarrisAdministration, Companies Announce Major Investments to ExpandDomestic Critical Minerals Supply Chain, Breaking Dependence on Chinaand Boosting Sustainable Practices https://www.whitehouse.gov/briefing-room/statements-releases/2022/02/22/fact-sheet-securing-a-made-in-america-supply-chain-for-critical-minerals/
Excerpts follow:
"Critical minerals provide the building blocks for many moderntechnologies and are essential to our national security and economicprosperity." "They are also key inputs in clean energytechnologies like batteries, electric vehicles, wind turbines, andsolar panels. As the world transitions to a clean energy economy,global demand for these critical minerals is set to skyrocket by400-600 percent over the next several decades." "The U.S. isincreasingly dependent on foreign sources for many of the processedversions of these minerals. Globally, China controls most of themarket for processing and refining for cobalt, lithium, rare earthsand other critical minerals."
"In June, the Biden-Harris Administration released afirst-of-its-kind "Supply Chain Assessment" that found ourover-reliance on foreign sources and adversarial nations for criticalminerals and materials posed national and economic securitythreats." "In addition to working with partners and alliesto diversify sustainable sources, the reports recommended expandingdomestic mining, production, processing, and recycling of criticalminerals and materials-all with a laser focus on boosting stronglabor, environmental and environmental justice, community engagement,and Tribal consultation standards."
"To focus the work of Federal agencies on sourcing criticalminerals, the Administration will direct agencies to prioritize theproduction and processing of minerals necessary to produce keyproducts like batteries, semiconductors, and permanent magnets,consistent with our strong environmental, social and laborprinciples."
James Walker, President and CEO of the Company said,“A wide range of compounding international and domestic issues arecreating a surging demand for fluorspar and driving up prices.Strained supply chains have increased efforts to secure domesticsupply of vital mineral resources, while lack of domestic mineralexploitation development is straining these ambitions. Ares has the only permitted fluorspar mine in the U.S. and issecuring other fluorspar domestic prosects to increase their potentialand anticipated capacity. Canada Fluorspar going into receivership hasexacerbated these problems and increased the difficulty for industryand manufacturing to source the industrial mineral fluorspar. TheCompany is very well positioned to benefit from these newinternational circumstances while also assisting domestic industriessolve their supply chains issues.”
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, geological reports, historicalproduction data and current engineering work completed or in theprocess 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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