Ares Strategic Mining Secures Major State Funding of $11,000,000 USD to Accelerate Production Ramp-Up
Ares Strategic Mining Secures Major State Funding of
$11,000,000
USD
to
Accelerate
Production
Ramp-Up
Vancouver,
BC
–
June
02,
2025
Ares
Strategic
Mining
Inc.
(“Ares”
or
the
“Company”)
(CSE:
ARS)
(OTC:
ARSMF)
(FRA:
N8I1)
is
thrilled
to
announce
the
successful
acquisition
of
an
$11
million
loan
from
the
Utah
State
Legislature
and
the
Utah
Community
Impact
Board
(CIB).
This
significant
financial
backing
will
accelerate
the
mining
and
processing
of
fluorspar
and
gallium
at
the
Company’s
Lost
Sheep
mine,
located
near
Delta,
Utah.
As
the
only
fully
permitted
and
licensed
fluorspar
mine
in
the
United
States,
the
Lost
Sheep
mine
has
also
been
confirmed
to
contain
substantial
gallium
deposits.
Utah
State
Senator
Jerry
Stevenson
,
who
championed
SB187
during
the
2025
legislative
session
to
authorize
the
loan,
emphasized
the
strategic
importance
of
this
initiative:
“Fluorspar
and
gallium
are
essential
to
U.S.
national
security
and
economic
stability.
Establishing
a
domestic
supply
for
these
critical
minerals
is
a
priority.”
Chief Sponsor Senator Jerry W. Stevenson
“CIB
is
delighted
to
support
a
project
of
such
national
significance
that
will
also
create
valuable
job
opportunities
in
rural
Utah,”
said
Curtis
Webb,
Chair
of
the
CIB
Board.
Ares
CEO
James
Walker
expressed
deep
gratitude,
stating,
“We
are
immensely
thankful
to
the
Utah
Legislature
and
the
CIB
for
their
support
in
expediting
the
development
of
a
domestic
source
for
these
vital
minerals.
Utah’s
investment
in
Ares
underscores
a
strategic
commitment
to
rebuilding
critical
mineral
supply
chains
in
the
U.S.
This
funding
highlights
the
pivotal
role
of
fluorspar
across
defense,
technology,
and
renewable
energy
sectors,
while
also
addressing
the
absence
of
domestic
gallium
production
since
1987—a
mineral
crucial
to
our
economy
and
national
defense.
Ares
is
proud
to
be
based
in
Utah
and
eager
to
contribute
significantly
to
the
state’s
industrial
and
economic
growth.”
The
Importance
of
Fluorspar
and
Gallium
Fluorspar
is
a
versatile
industrial
mineral
with
applications
in
uranium
enrichment,
lithium-ion
batteries,
steel
manufacturing,
the
chemical
industry,
cement
production,
water
fluoridation,
and
aluminum
production.
In
2018,
the
U.S.
government
designated
fluorspar
as
a
Critical
Mineral,
recognizing
its
importance
to
national
security
and
the
economy.
Notably,
fluorspar
is
the
only
non-metallic
Critical
Mineral
entirely
imported
into
the
U.S.
Its
classification
accelerates
permitting processes, enabling faster initiation of mining operations compared to conventional
minerals.
Gallium,
particularly
in
the
form
of
gallium
nitrate,
is
a
cornerstone
of
the
U.S.
microchip
industry.
Gallium
nitrate
semiconductors
are
celebrated
for
their
exceptional
performance,
offering
faster
charging,
greater
efficiency,
and
enhanced
functionality
in
electronic
devices.
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
Walker
Chief
Executive
Officer
and
President
For
further
information,
please
contact
James
Walker
by
at
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
1
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.