Ares Strategic Mining Commences Mining Operations

Executive Summary

• Ares Strategic Mining announced that underground mining at the Lost Sheep Fluorspar Mine in Utah is now actively producing several thousand tons of fluorspar ore, which are being stockpiled for upcoming processing.
• The stockpiling phase builds a strategic inventory to support a smooth ramp‑up once the flotation plant is commissioned, enhancing grade control and ensuring uninterrupted feedstock supply.
• The company settled CAD 185,199.23 for consulting services by issuing 381,854 common shares subject to a four‑month‑plus statutory hold period.

Key Details

• Production Milestone: Underground mining operations have transitioned from development to active production, with “several thousands of tons” of fluorspar ore already extracted and placed in surface stockpiles.
• Purpose of Stockpiling:
• Build strategic ore inventory ahead of flotation plant start‑up.
• Optimize blending and grade control for consistent processing performance.
• Ensure uninterrupted feedstock supply once processing begins.
• Provide visible, measurable production momentum.
• Operational Progress: Underground development continues to advance; surface infrastructure is in place; the company is positioning for consistent throughput when the flotation plant becomes operational.
• Future Outlook (next weeks):
• Expand surface stockpiles further.
• Advance readiness of the flotation plant.
• Prepare for initial processing runs.
• Move toward steady‑state production.
• Critical Mineral Context: Fluorspar is a U.S. designated critical mineral used in steel/aluminum manufacturing, fluorochemicals, semiconductors, clean energy technologies, and defense applications. Ares is the only permitted and operating fluorspar mine in the United States, reinforcing domestic supply.
• Share Issuance Settlement: Paid CAD 185,199.23 to consultants/service providers by issuing 381,854 common shares; these shares are subject to a statutory hold period of four months and one day from issuance.

Notable Quotes

“Seeing hundreds of tons of ore at surface is a powerful validation of the hard work our team has put into bringing the Lost Sheep back into production. This is real progress – tangible, measurable, and visible.” – James Walker, President & CEO

Materiality Assessment: Material – Positive (the announcement signals the commencement of revenue‑generating mining activity at a critical U.S. mineral asset.)