Ares Strategic Mining Inc. Puts Arrangements in Place Ahead of Anticipated Ramp Up at its Utah Operation
Ares Strategic Mining Inc. Puts Arrangements in Place Ahead of Anticipated
Ramp Up at its Utah Operation
Vancouver, BC – March 10th, 2025 – 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 accura te 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 anticipate d. 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.