Ares settles claims, pays $77,878 (U.S.), issues shares

Executive Summary

• Ares Strategic Mining Inc. has entered into a settlement agreement with Hinkinite Resources LLC to resolve overlapping unpatented mining claims in Juab County, Utah.
• Hinkinite will abandon and convey its interest in 101 mining claims to Ares, along with providing related non-privileged data and records.
• In consideration, Ares will pay $77,878 USD in cash and issue 170,887 common shares at a deemed price of $0.395 per share, subject to CSE approval and a four-month hold period.

Key Details

• Agreement Date: April 22, 2026
• Counterparty: Hinkinite Resources LLC
• Subject Matter: Overlapping unpatented mining claims located in Juab County, Utah
• Asset Conveyance: Hinkinite to abandon and transfer all interests in 101 unpatented mining claims to Ares Strategic Mining Inc.
• Data & Records: Hinkinite to provide all related non-privileged data and records associated with the claims
• Cash Consideration: $77,878 USD total, consisting of a $50,000 USD cash payment and $27,878 USD reimbursement for verified staking expenses
• Equity Consideration: 170,887 common shares of Ares Strategic Mining Inc.
• Deemed Share Price: $0.395 USD per common share
• Regulatory Conditions: Subject to Canadian Securities Exchange (CSE) approval and applicable securities laws
• Legal Terms: Mutual release of all claims related to the dispute, dismissal of the related court proceeding upon completion of settlement steps, classified as a compromise and full/final settlement with no admission of liability or wrongdoing
• Share Restrictions: Issued shares are subject to a four-month hold period in accordance with applicable securities laws
• Litigation Status: Related court proceeding to be dismissed following completion of required settlement steps