Mr. James Walker reports

ARES STRATEGIC MINING ANNOUNCES NEARLY $1 MILLION MANAGEMENT INVESTMENT AND STRATEGIC CORPORATE UPDATES

Ares Strategic Mining Inc. has received a significant vote of confidence from company leadership, with members of management and insiders committing approximately $990,112.65 to acquire common shares of the company at a deemed price of 28 cents per share, representing approximately 3.53 million shares.

The investment comes as Ares continues to achieve major milestones across its operations, including the commencement of mining, growing ore stockpiles at surface, continued construction progress across its processing facilities and the recently announced U.S. Department of Defense fluorspar supply contract.

Management demonstrates confidence in company's future

The insider investment reflects management's belief in the company's long-term value and future growth prospects. Over the past year, Ares has transformed from a development-stage company into an emerging producer with:

• Active mining operations at the Lost Sheep mine;
• Growing surface ore stockpiles awaiting processing;
• Significant progress on both the lumps plant and acidspar flotation plant;
• Major U.S. government contract awards;
• Strategic critical mineral positioning within the United States;
• A growing portfolio of assets and infrastructure.

James Walker, president and chief executive officer of Ares Strategic Mining, commented: "Management believes the company has reached a point where its operational progress, strategic assets, government relationships and production trajectory are not fully reflected in the current market valuation. This investment demonstrates our confidence in the future we are building and our commitment to creating long-term value alongside shareholders."

Building momentum

The company believes it is entering one of the most significant periods in its history, with multiple catalysts expected over the coming months, including:

• Continued mine production and stockpiling;
• Advancement toward processing operations;
• Development of domestic acidspar production capacity;
• Execution of government contract opportunities;
• Expansion of commercial relationships;
• Continued strengthening of the company's balance sheet and market position.

Mr. Walker concluded: "The story of Ares today is one of execution. We have built the mine, we are mining, we are building the processing facilities, and we are securing customers. Management's decision to invest nearly $1-million alongside shareholders reflects our belief that the most exciting chapters of Ares are still ahead of us."

Renewal of strategic marketing and investor communications program

The company is also pleased to announce the renewal of its engagement with Pivotal CM Ltd., which has supported Ares's investor communications, digital strategy, marketing initiatives, shareholder engagement, website management, conference organization, content development and advertising campaigns.

Under the renewed arrangement, approximately $356,250 (U.S.) of services will be satisfied through the issuance of common shares at the current market price, representing approximately 1.76 million shares, subject to regulatory approvals and final documentation. The renewed engagement is intended to support the company's growing profile as it advances toward production and expands its visibility within North American and international capital markets.

Ares is also pleased to announce that the company has agreed to the settlement of an aggregate of $69,046.47 of debt incurred by the company for financial services provided by Prospero and Craven Capital. The company issued an aggregate of 246,595 common shares at a deemed price of 28 cents per share.

Board evolution supports company's next phase

The company also announces that, in response to public response, Lorenzo Esteva elected to step down from the board of directors. The board thanks Mr. Esteva for his contributions and support during a period of significant growth for the company.

Ares notes that certain public commentary regarding Mr. Esteva's prior regulatory history contained misrepresentation and erroneous characterizations. Responding to public comments, Mr. Esteva's lawyer clarified that he voluntarily resigned his FINRA (Financial Industry Regulatory Authority) registrations and disputed most allegations that have circulated publicly. The company appreciates Mr. Esteva's professionalism throughout and regrets the inaccurate and false publications that caused him to step down. The company wishes him success in his future endeavours.

About Ares Strategic Mining Inc.

Ares Strategic Mining is a mining company focused on the development of its fluorspar projects in the United States. 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 per cent owned -- 5,982 acres, 353 claims;
• Located in the Spor Mountain area, Juab county, Utah, approximately 214 kilometres southwest of Salt Lake City;
• Fully permitted -- including mining permits;
• National Instrument 43-101 technical report identified extensive high-grade fluorspar with low levels of impurities;
• Mining plan approved by BLM (Bureau of Land Management):
  • First approved by Rex Rowley, area manager, Bureau of Land Management (Aug. 24, 1992);
  • Renewed by Paul B. Baker, minerals program manager, Bureau of Land Management (Dec. 12, 2016).

We seek Safe Harbor.