Ares Strategic Mining Inc. announced that it has signed a joint venture memorandum of understanding to secure a 50% interest in the Vanadium Ridge Project. The Company, together with Imbue Capital, came to terms, whereby Ares and Imbue would each own 50% of the project, and Imbue Capital would bring $1.5 million in development funds, with the Cash component being no less than CAD 1 Million, as well as bringing the project to Ares with a permitted drilling program. The Vanadium Ridge Property (the "Property") consists of 20 mining claims, covering over 5,200 acres, situated 40 minutes by road from Kamloops, British Columbia. The property is a vanadium-rich magnetite deposit, discovered by a Provincial Government airborne magnetic survey, which found an intense magnetic anomaly west of the town of Barriere. Follow up surface mapping and ground geophysics resulted in well-defined magnetic anomalies with elevated vanadium contents exposed right at surface. A preliminary diamond drill program was completed in November 2009, drilling 7 holes for an aggregate of 658 meters, with each hole achieving between 75m ? 100m depths, and identified multiple massive magnetite seams and pods as well as coarse disseminated magnetite mineralization. All drill holes intersected broad intervals of magnetite mineralization with many terminating in magnetite-rich mineralized zones. This historic drill program not only confirmed significant magnetite mineralization from surface to depth, but also indicates that many other additional anomalies identified on the property may have the same potential to host vanadium-rich magnetite mineralization. Initial metallurgical testing of the magnetite/vanadium samples by ALS, Australia, produced concentrate averaging 67% iron (Fe203), 93% magnetite (Fe304), and 0.74% vanadium, indicating the potential to produce an iron concentrate for direct shipping material. These assays also indicate that the magnetite is coarse-grained, soft, and that silica is not bound in magnetite. Crushing produces a good liberation of silica, resulting in a high-grade magnetite concentrate, even in samples with disseminated magnetite. Initial independent analysis of the magnetite indicates the impurities in the concentrated are far within industry acceptance. Imbue agrees to $1.5 million, part cash and value included, but not linked to equipment, goods, resources, and other valuable contributions. With the Cash component being no less than CAD 1 Million. Ares agrees to $1.5 million of its Capital stock at a deemed share price of $0.50, upon signing a Definitive Joint Venture agreement, for no less than 3 million shares. By committing to these conditions, both parties agree to each control 50% of the rights, titles, and interest in the Property.