Ares Strategic Mining Inc. announced the discovery of new and additional fluorspar mineralization at the Lost Sheep permitted mining site located at its Spor Mountain fluorspar project. Ares is currently undertaking core diamond drilling to delineate the placement and design of installations to facilitate mining operations scheduled for later in 2024. As drilling has proceeded, drill holes have reached depths not previously investigated, new high-grade fluorspar mineralization has been discovered connected to the initial mining targets Ares has selected for its preliminary production plans, expanding the potential of these targets.

Drilling is currently progressing, with further delineation drilling planned within this zone. The Company will progress to delineate secondary targets and confirm further mineralization, while investigating for similarly deeper mineralization below previously delineated fluorspar pipes.