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Other

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

By The Northwire Desk — AI Analysis May 02, 2026 · 04:27 ARS · 0.40 Ares Strategic Mining Inc
ARS · Price

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
Read the original news release →

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