Mr. Lewis Black reports

ALMONTY ANNOUNCES THE FILING OF ITS UNAUDITED INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS AND MD&A FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2023 AND $1.74M IN POSITIVE EBITDA FROM MINING OPERATIONS(1)

Almonty Industries Inc. has filed its unaudited interim condensed consolidated financial statements and management's discussion and analysis for the three and nine months ended Sept. 30, 2023.

The attached financial information is for the three and nine months ended Sept. 30, 2023, and 2022.

About Almonty Industries Inc.

The principal business of Almonty, based in Toronto, Canada, is the mining, processing and shipping of tungsten concentrate from its Los Santos mine in western Spain and its Panasqueira mine in Portugal, as well as the development of its Sangdong tungsten mine in Gangwon province, South Korea, and the development of the Valtreixal tin/tungsten project in northwestern Spain. Its Los Santos mine was acquired by Almonty in September, 2011, and is located approximately 50 kilometres from Salamanca in western Spain and produces tungsten concentrate. The Panasqueira mine, which has been in production since 1896, is located approximately 260 kilometres northeast of Lisbon, Portugal, was acquired in January, 2016, and produces tungsten concentrate. The Sangdong mine, which was historically one of the largest tungsten mines in the world and one of the few long-life, high-grade tungsten deposits outside of China, was acquired in September, 2015, through the acquisition of a 100-per-cent interest in Woulfe Mining Corp. Almonty owns 100 per cent of the Valtreixal tin-tungsten project in northwestern Spain.

(1) Non-generally accepted accounting principle financial measure.

We seek Safe Harbor.