Ares Strategic Mining Inc. announced the Company has commenced construction and building work to ready its permitted mine site for producing fluorspar. The preparations and installations will provide greater feed for Ares' anticipated fluorspar production operation. Earth works are already underway, with site clearance, and equipment and worker facilities currently being constructed at the Lost Sheep mine area.

Ares is working with Provo Mining to ensure that the operation of the mine and the processing of fluorspar is set to start later this year, with mining permits and authorizations already completed. Ares plans to bring to market a responsibly extracted high-purity fluorspar, to supply the steel, chemical, and EV sectors with a domestic and sustainable product. Ares is undertaking simultaneous activity across its mine site and processing site to expedite the Utah operation's development.

In addition to the mine preparation, the Company is currently constructing its lumps plant at its 50-acre industrial site. The Company also recently paid in full for a new flotation plant capable able of delivering the highest-grade fluorspar products needed by industry, enabling the Company to have multiple product lines; that plant will be delivered to site later this year. 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 - 353 Claims. Located in the Spor Mountain area, Juab County, Utah, approximately 214 km south- west 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 BLM.