Ares Strategic Mining Completes Conveyor Belt Fabrication and Motor Assembly

Jul 19, 2023

Ares Strategic Mining Inc. ('Ares' or the 'Company') (CSE: ARS) (OTC:ARSMF) (FRA:N8I1), is pleased to announce the Company has completed its fabrication of its new conveyor belt system for its plant and planned fluorspar manufacturing operation.

The belts form part of the mechanisms connecting the various processing stages of the metallurgical lumps plant, a system dedicated to producing specific high quality metspar grade products, in industry preferred form

James Walker, CEO and President of the Company, said, 'We are happy to share our progress as we advance towards commissioning our lumps plant, the first plant of its kind in America. There has been tremendous interest in our metallurgical fluorspar lumps, giving great confidence of a robust and deep market that we are growing closer to supplying.'

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.

Lost Sheep Fluorspar Project - Delta, Utah

100% owned - 5,982 acres - 353 Claims.

Located in the Spor Mountain 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.

Contact:

Email: [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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