Vancouver, BC – March 19th, 2025 – Ares Strategic Mining Inc. (“Ares” or the “Company”) (CSE: ARS) is pleased to announce the acquisition of key underground mining equipment as part of its ongoing preparations for the anticipated ramp-up of operations at its Utah site. The Company continues to take strategic steps to ensure it has the necessary infrastructure and machinery in place to move expeditiously towards full-scale mining activities in the coming months.
To support its upcoming production schedule, Ares has secured items such as the Cat R1300G Underground Loader, a vital asset for optimizing underground material handling and streamlining operational efficiency. This acquisition aligns with Ares’ broader initiative to accelerate site development and position the Company for sustained production growth. As Ares advances towards mining readiness, it remains committed to expanding its equipment inventory, reinforcing its workforce, and strengthening operational capabilities.
James Walker, CEO of Ares, commented, “We are focused on building back up our operations and ensuring we have all the necessary equipment in place to advance toward production as efficiently as possible. The acquisition of this underground loader marks another step in our ramp-up strategy, and we are committed to taking all required measures to bring the Utah project to full production in a timely manner.”
In 2018 the U.S. government classified fluorspar as a Critical Mineral, “deemed critical to U.S. national security and the economy.” Fluorspar remains the only non-metallic Critical Mineral, which is 100% imported in the entire country. Fluorspar’s classification as a Critical Mineral in the United States translates to a faster permitting period, enabling mining operations to initiate more quickly than operations for conventional minerals.
To facilitate this acquisition, the Company has completed a share settlement transaction with Roy Durr, issuing 1,932,432 common shares of the Company (“Common Shares”) at a price of $0.185 per share to settle USD$250,000. The Share Settlement is subject to CSE (“Exchange”) approval and will be subject to a four-month hold period. Final documentation will be submitted for Exchange review and approval.
About Ares Strategic Mining
Ares Strategic Mining Inc. is a mining company focused on the development of its fluorspar projects in the U.S. The Company aims to become a significant supplier of high-grade fluorspar to North American markets, supporting industries vital to modern technology and infrastructure.
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 of Salt Lake City.
Fully Permitted – including mining permits.
NI 43-101 Technical Report identified extensive high-grade fluorspar with low levels of impurities.
Mining plan approved by BLM[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 December 2016.
ON BEHALF OF THE BOARD OF DIRECTORS OF
ARES STRATEGIC MINING INC.
James WalkerChief Executive Officer and President
For further information, please contact James Walker by email at jwalker@aresmining.com
DISCLOSURE AND FORWARD-LOOKING STATEMENTS:
Companies typically rely on comprehensive feasibility reports on mineral reserve estimates to reduce the risks and uncertainties associated with a production decision. Historically, situations where the issuer decides to put a mineral project into production without first establishing mineral reserves supported by a technical report and completing a feasibility study have a higher risk of economic or technical failure, though some industrial mineral ventures are relatively simple operations with low levels of investment and risk, where the operating entity has determined that a formal prefeasibility or feasibility study in conformance with NI 43-101 and 43-101 CP is not required for a production decision. Based on historical engineering work, geological reports, historical production data and current engineering work completed or in the process by Ares, the Company intends to move forward with the development of its Utah asset.
Certain information in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties. Forward-looking statements are often identified by terms such as “will”, “may”, “should”, “anticipate”, “expects” and similar expressions. All statements other than statements of historical fact included in this news release are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company’s expectations include the failure to satisfy the conditions of the relevant securities exchange(s) and other risks detailed from time to time in the filings made by the Company with securities regulations. The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company. The reader is cautioned not to place undue reliance on any forward-looking information. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date of this news release and the Company disclaims any intention or obligation to update or revise such information, except as required by applicable law.