Ares Accelerates Flotation Plant Construction Following U.S. Defense Contract Award and New $10M Private Placement
NOT FOR DISSEMINATION IN THE UNITED STATES OR THROUGH U.S. NEWSWIRE SERVICES
Ares Accelerates Flotation Plant Construction Following U.S. Defense Contract
Award
and
New
$10M
Private
Placement
Company Targets First Acidspar Deliveries Later This Year to Fulfill Strategic Pentagon Contract
Vancouver, B.C., January 27, 2026 – Ares Strategic Mining Inc. (CSE: ARS) (OTC: ARSMF) (FRA: N8I1) is
pleased
to
announce
that,
following
its
recent
$168.9
million
estimated
award
under
the
U.S.
Department
of
Defense’s
(DoD)
Indefinite
Delivery
/
Indefinite
Quantity
(IDIQ)
contract
and
a
newly
launched
$10
million
private
placement,
the
Company
is
accelerating
construction
of
its
acidspar
flotation
plant
in
Utah.
This
strategic
move
positions
Ares
to
begin
first
deliveries
of
acid-grade
fluorspar
(acidspar)
later
this
year,
advancing
the
Company's
role
as
the
sole
domestic
supplier
of
this
U.S.-designated
critical
mineral.
“This is a defining moment for Ares,” said James Walker, CEO of Ares Strategic Mining. “Our flotation
plant
is
now
a
top-priority
build.
With
strong
government
support,
market
demand,
and
financing
in
place,
we’re
pushing
forward
to
ensure
on-time
delivery
under
our
DoD
contract
and
to
support
our
uplist
plans
for
later
this
year.”
Construction Acceleration: Delivering Ahead of Schedule The acidspar flotation plant is a critical component of Ares’ vertically integrated strategy to produce
high-purity
fluorspar
for
use
in:
●
Defense
systems
&
national
stockpiles
●
Hydrofluoric
acid
and
fluorochemical
industries
●
Semiconductors
and
EV
battery
supply
chains
The plant’s construction will now proceed on an expedited timeline, funded in part by the proceeds of a
newly
announced
non-brokered
private
placement
offering
of
up
to
$10,000,000
CAD,
launched
under
the
Listed
Issuer
Financing
Exemption
in
Canada
National Impact, Global Implications The U.S. has been 100% import-dependent on fluorspar for decades – until now. With the Lost Sheep
Mine
advancing,
the
flotation
plant
nearing
completion,
and
a
$250M
contract
ceiling
under
the
DLA
IDIQ,
Ares
is
rapidly
becoming
the
cornerstone
of
America’s
domestic
acidspar
supply.
“We’re aligned with national priorities and uniquely positioned to deliver. Investors, partners, and
government
agencies
are
recognizing
that
Ares
isn’t
just
building
a
mine
–
we’re
rebuilding
a
critical
American
supply
chain,”
added
Walker.
Next Milestones
●
Complete
flotation
plant
foundation
and
mechanical
installations
●
Begin
first
acidspar
processing
runs
●
Execute
first
deliveries
under
the
DoD
contract
●
Advance
uplisting
process
to
a
senior
exchange
Private Placement Details – $10M to Power Strategic Projects Ares announces a non-brokered private placement offering of up to 16,666,666 units (each, a “Unit”) at
a
price
of
$0.60
per
Unit
for
gross
proceeds
of
up
to
$10,000,000
(the
“Offering”).
Each Unit shall consist of one (1) common share in the capital of the Company (each, a “Common
Share”)
and
one-half
(1/2)
of
one
non-transferable
Common
Share
purchase
warrant
(each
whole
warrant,
a
“Warrant”).
Each
Warrant
will
be
exercisable
into
one
(1)
Common
Share
(each,
a
“Warrant
Share”)
at
a
price
of
$0.75
per
Warrant
Share
for
a
period
of
two
(2)
years
following
the
closing
date
of
the
Offering.
There is an offering document (the “Offering Document”) related to the Offering that can be accessed
under
the
Company’s
profile
on
SEDAR+
at
www.sedarplus.ca
and
on
the
Company’s
website
at
www.aresmining.com. Prospective investors should read the Offering Document before making an investment decision. As disclosed in the Offering Document, the Company intends to use the net proceeds from the Offering
for
to
further
develop
its
Lost
Sheet
fluorspar
project
in
the
State
of
Utah,
for
the
repayment
of
certain
outstanding
debts
and
for
general
and
corporate
working
capital
purposes.
Finders’
fees
may
be
paid
to
eligible
arm’s
length
persons
with
respect
to
certain
subscriptions
accepted
by
the
Company.
The Units offered as a part of the Offering shall be offered to purchasers in each of the Provinces of
Canada,
with
the
exception
of
Quebec,
pursuant
to
the
listed
issuer
financing
exemption
under
Part
5A
of
NI
45-106
(the
“Listed
Issuer
Financing
Exemption”),
and
in
other
qualifying
jurisdictions.
Units
offered
under
the
Listed
Issuer
Financing
Exemption
will
not
be
subject
to
resale
restrictions
for
Canadian
resident
investors
pursuant
to
applicable
Canadian
securities
laws.
The Offering is anticipated to close in one or more tranches, with the final tranche of the Offering closing
within
45
days
from
the
date
hereof.
The
closing
is
subject
to
certain
conditions
including,
but
not
limited
to,
the
receipt
of
all
necessary
regulatory
and
other
approvals,
including
the
Company’s
completion
of
its
filing
obligations
under
the
policies
of
the
CSE.
The Company further announces that the proposed offering of up to 22,222,222 units at a price of $0.45
per
unit
that
was
announced
on
December
4,
2025
(the
“December
LIFE
Offering”)
did
not
close
within
the
deadline
set
out
in
Section
5A.4(2)
of
NI
45-106
–
Prospectus
Exemptions
(NI
45-106”).
NOT FOR DISSEMINATION IN THE UNITED STATES OR THROUGH U.S. NEWSWIRE SERVICES None of the securities sold in connection with the Offering will be registered under the United States
Securities
Act
of
1933,
as
amended,
and
no
such
securities
may
be
offered
or
sold
in
the
United
States
absent
registration
or
an
applicable
exemption
from
the
registration
requirements.
This
news
release
shall
not
constitute
an
offer
to
sell
or
the
solicitation
of
an
offer
to
buy
nor
shall
there
be
any
sale
of
the
securities
in
any
jurisdiction
in
which
such
offer,
solicitation
or
sale
would
be
unlawful.
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:
Certain statements contained in this news release constitute forward-looking information. These statements relate
to
future
events
or
future
performance.
The
use
of
any
of
the
words
“could”,
“intend”,
“expect”,
“believe”,
“will”,
“projected”,
“estimated”
and
similar
expressions
and
statements
relating
to
matters
that
are
not
historical
facts
are
intended
to
identify
forward-looking
information
and
are
based
on
the
Company’s
current
belief
or
assumptions
as
to
the
outcome
and
timing
of
such
future
events.
In particular, this news release contains forward-looking information relating to, among other things, the Offering,
including
the
total
anticipated
proceeds,
the
expected
use
of
proceeds
and
the
closing
(including
the
proposed
closing
date)
of
the
Offering.
Various
assumptions
or
factors
are
typically
applied
in
drawing
conclusions
or
making
the
forecasts
or
projections
set
out
in
forward-looking
information,
including
the
assumption
that
the
Company
will
close
the
Offering
on
the
timeline
anticipated,
will
raise
the
anticipated
amount
of
gross
proceeds
from
the
Offering
and
will
use
the
proceeds
of
the
Offering
as
anticipated.
Those
assumptions
and
factors
are
based
on
information
currently
available
to
the
Company.
Although
such
statements
are
based
on
reasonable
assumptions
of
the
Company’s
management,
there
can
be
no
assurance
that
any
conclusions
or
forecasts
will
prove
to
be
accurate.
Forward-looking information involves known and unknown risks, uncertainties and other factors which may cause
the
actual
results,
performance
or
achievements
to
be
materially
different
from
any
future
results,
performance
or
achievements
expressed
or
implied
by
the
forward-looking
information.
Such
factors
include:
the
risk
that
the
Offering
does
not
close
on
the
timeline
expected,
or
at
all;
the
risk
that
the
Company
raises
less
than
the
anticipated
amount
of
gross
proceeds
from
the
Offering;
the
risk
that
the
Company
does
not
use
the
proceeds
from
the
Offering
as
currently
expected;
risks
inherent
in
the
exploration
and
development
of
mineral
deposits,
including
risks
relating
to
changes
in
project
parameters
as
plans
continue
to
be
redefined
and
the
risk
that
exploration
and
development
activities
will
cost
more
than
the
amount
budgeted
for
such
activities
by
the
Company;
risks
relating
to
changes
in
mineral
prices
and
the
worldwide
demand
for
and
supply
of
minerals;
risks
related
to
increased
competition
and
current
global
financial
conditions;
access
and
supply
risks;
risks
associated
with
the
Company’s
reliance
on
key
personnel;
operational
risks;
regulatory
risks,
including
risks
relating
to
the
acquisition
of
the
necessary
licenses
and
permits;
financing,
capitalization
and
liquidity
risks;
title
and
environmental
risks;
and
risks
relating
to
the
failure
to
receive
all
requisite
regulatory
approvals.
The
forward-looking
information
contained
in
this
news
release
is
made
as
of
the
date
hereof,
and
the
Company
is
not
obligated
to
update
or
revise
any
forward-looking
information,
whether
as
a
result
of
new
information,
future
events
or
otherwise,
except
as
required
by
applicable
securities
laws.
Because
of
the
risks,
uncertainties
and
assumptions
contained
herein,
investors
should
not
place
undue
reliance
on
forward-looking
information.
The
foregoing
statements
expressly
qualify
any
forward-looking
information
contained
herein.
NEITHER THE CANADIAN SECURITIES EXCHANGE NOR ITS REGULATIONS SERVICES PROVIDER HAVE REVIEWED OR
ACCEPT
RESPONSIBILITY
FOR
THE
ADEQUACY
OR
ACCURACY
OF
THIS
RELEASE.