Ares Strategic Mining Inc. announced the completion the mine planning phase and commencement of its mine construction. The Company has started ramp installation work to intersect fluorspar mineralization and provide feed for the plant currently under construction in Delta, Utah. The ongoing diamond drilling program has assisted technical staff to define the extents of fluorspar mineralization and has aided in delineating the placement and design of ramps to facilitate mining operations scheduled for later in 2024.

As drilling proceeded, drill holes reached depths not previously investigated and intersected previously unidentified fluorspar mineralization which connect to initial mining targets. These visually identified zones of fluorspar mineralization have the potential to expand planned mining extraction. Assay results are pending and will be reported when received by the Company.

In 2018 the U.S. government classified fluorspar as a Critical Mineral, "deemed critical to U.S. national security and the economy." Fluorspar remains the only non-metallic Critical Mineral, which is 100% imported in the entire country. Fluorspar's classification as a Critical Mineral in the United States translates to a faster permitting period, enabling mining operations to initiate more quickly than operations for conventional minerals. Lost Sheep Fluorspar Project - Delta, Utah.

100% owned - 5,982 acres - 299 Claims. Located in the Spor Mountain area, Juab County, Utah, approximately 214 km southwest of Salt Lake City. Fully Permitted - including mining permits. NI 43-101 Technical Report identified extensive high-grade fluorspar with low levels of impurities.

Mining plan approved by BLM1. First approved by Rex Rowley - Area Manager, Bureau of Land Management - 24th August 1992.1 Renewed by Mike Gates - Minerals Program Manager, Bureau of Land Management- 12th December 2016.