Ares Strategic Mining Awarded Multi-Year Pentagon Contract with Estimated Initial Award Value of ~$169M and Potential Task Orders Up to $250M Over Five Years

(TheNewswire)

Vancouver, B.C., 20th January 2026 – TheNewswire – In a major development for the U.S.critical minerals industry, Ares Strategic Mining Inc. (CSE: ARS)(OTC: ARSMF) (FRA: N8I1) has been officially awarded a $168,938,267.30contract by the U.S. Department of Defense (DoD) through the DefenseLogistics Agency (DLA) – a significant initiative to help strengthenAmerica’s domestic manufacturing and supply base and support therebuilding of U.S. strategic mineral stockpiles.

 
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The award is part of a five-yearIndefinite Delivery/Indefinite Quantity (IDIQ) agreement, with a totalcontract ceiling of up to $250 million. “This is the kind ofcontract that transforms companies, and secures the future of U.S.industry,” said James Walker, CEO of Ares Strategic Mining.“We’re not just producing fluorspar; we’re helping build a moreresilient and secure domestic supply chain for criticalminerals.”

This award represents a majormilestone for Ares and further strengthens the Company’s positioningas a strategic domestic supplier of acid-grade fluorspar, a U.S.designated critical mineral essential to defense readiness, industrialmanufacturing, clean energy supply chains, and high-techapplications.

ContractHighlights

• Award Value Locked In: $168.9million 

• Potential Upside: Up to $250 millionthrough future task orders 

• Customer: United States Departmentof Defense 

• Supplier: Ares Strategic Mining –the only U.S. producer of acid-grade fluorspar 

• Mission: Support replenishment ofgovernment stockpiles of strategic and critical minerals 

This contract establishes Ares as asole-source domestic supplier of acidspar to the U.S. government –and the only U.S.-based operation positioned to deliver this criticalmineral supply at scale.

Strategic NationalSignificance and A Major Step Forward for Domestic Critical MineralIndependence

Acid-grade fluorspar(“acidspar”) is a vital input used in the production ofhydrofluoric acid and fluorine-based materials, supporting industriesincluding:

• Defense systems missiletech 

• Steel aluminum production 

• Fluorochemicalmanufacturing 

• Semiconductors, batteries, andnext-gen electronics 

• National defense-related supplychain resilience 

The United States has historicallybeen 100% import-dependent for fluorspar, making the establishment ofa domestic supply chain a critical national priority. This award marksa turning point. It not only validates the national importance ofAres’ Utah-based Lost Sheep Project, but also positions the Companyat the heart of America’s effort to build a robust domestic sourcingnetwork to ensure long-term self-sufficiency.

With this award, Ares is positionedto support the U.S. government’s mission to invest in a moreresilient and secure national supply chain and promote long-termgrowth by prioritizing domestic sourcing of critical minerals. JamesWalker added that, “This award reflects the U.S. government’scommitment to revitalizing a long-neglected critical mineral supplychain. We are proud to support the U.S. government’s strategicmaterial reserves by supplying domestically sourced, high-grade acidspar. Thiscontract confirms our leadership in rebuilding U.S. critical mineralcapability and ensures our products directly contribute to nationalresilience, industrial strength, and long-term security. We are now apartner in America’s strategic future.”

About AresStrategic Mining

Ares Strategic Mining Inc. is amining company focused on the development of its fluorspar projects inthe U.S. The Company aims to become a significant supplier ofhigh-grade fluorspar to North American markets, supporting industriesvital to modern technology and infrastructure.

Lost Sheep Fluorspar Project –Delta, Utah

•                  100% owned – 5,982 acres –353 Claims

•                  Located in the Spor Mountainarea, Juab County, Utah, approximately 214 km south-west of Salt LakeCity.

•                  Fully Permitted – includingmining 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, Bureau of Land Management – 24th August 1992.

 Renewed by Paul B. Baker –Minerals Program Manager, Bureau of Land Management – 12th December2016.

ON BEHALF OF THE BOARD OF DIRECTORSOF

ARES STRATEGIC MINING LTD.

James Walker

Chief Executive Officer andPresident

For further information, pleasecontact James Walker by email at info@aresmining.com

DISCLOSURE ANDFORWARD-LOOKING STATEMENTS:

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 processby Ares, the Company intends to move forward with the development ofits 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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