Ares Strategic Mining Inc. Puts Arrangements in Place Ahead of Anticipated Ramp Up at its Utah Operation

Vancouver, BC – March 10th, 2025 – TheNewswire – Ares Strategic Mining Inc. (“Ares” or the “Company”) (CSE: ARS) is pleased to announce the issuance of common stock for services rendered to the Company by various arm’s length and non-arm’s length parties (the “Share Settlement”), as part of the anticipated ramp up for Ares’ Utah operations. The Company plans to issue 295,887 common shares of the Company (“Common Shares”) to settle approximately $42,418.56 owed to the various arm’s length and non-arm’s length parties. The Share Settlement is subject to CSE (“Exchange”) approval.

As part of arrangements being made to accelerate development of the Company. Ares has solicited the services of Craven Capital last year, responsible for the institutional investment within the Company that is supporting its current ramp up efforts. The Company shall pay Craven for the successful capital raise a fee equivalent to Seven Percent (7%) and assign one warrant per share of common stock equivalent to the consultancy fee (7%). The number of warrants will be equivalent to the number of shares that could be purchased with the Fee in the open market. For purposes of valuing the number of shares of the Company purchasable in this regard, the share price shall be calculated as the Volume Weighted Average Price (“VWAP”) of shares traded on the Canadian Stock Exchange (or equivalent exchange if appropriate) in the twenty (20) trading days prior to the payment of the Fee. Each warrant will entitle the holder thereof to purchase one Common Share of the Company (each a “Warrant Share”) for a period of thirty-six (36) months from the date of assignment at an exercise price of C$0.30.

The Common Shares issued pursuant to the Share Settlement will be subject to a four month hold period. The Share Settlement is subject to the submission of final documentation and final approval of the Exchange.

James Walker, CEO of Ares said, “We are very grateful for the contributions made by individuals in the past few months to help the Company achieve its ambitions. Their choice to be compensated in shares demonstrates their belief in the Company’s future and its ambitions, and we are confident that their belief will be rewarded.”

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 BLM1 

 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 Walker
Chief Executive Officer and President

For further information, please contact James Walker by email at [email protected]

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.

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