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DELTA, UTAH TheNewswire - October 13, 2026 - Ares Strategic Mining Inc. (CSE: ARS) (OTCQX: ARSMF) (FRA: N811) ("Ares" or the "Company") officially opened its Fluorspar Lumps Plant on Friday, October 9, 2026. The Lumps Plant processes raw fluorspar from the Company's fully permitted Lost Sheep Mine, into industry-ready metallurgical-grade 'lumps' - an essential ingredient for steel and aluminum production. The official opening solidifies Ares as a vertically integrated company that owns and controls the critical mineral from the ground to its final, market-ready forms.
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(L–R): Roy Durr, President and CEO, Provo Mining and Construction; Blake Nelson, Utah Office of Energy Development; Dana Dean, Acting Director, Utah Division of Oil, Gas and Mining; James Walker, President and CEO, Ares Strategic Mining; U.S. Representative Mike Kennedy; Utah State Senator David P. Hinkins; Peter Godart, President and CEO, Found Industries; Rob Bishop, Utah State Representative; Carson Brown, Office of U.S. Senator John Curtis.
The ceremony was attended by State and Federal congressional representatives, key regional and local stakeholders, including the Delta City Council, the entire Ares and Provo Mining teams and local Delta families.
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The official opening ceremony for Ares' Lumps Plant was supported by State, Federal and local representatives.
Returning the Fluorspar Industry to the U.S.
In the early 1970s, cheaper foreign fluorspar imports caused domestic fluorspar production to wane, and commercial fluorspar production completely ceased by 1995. Subsequently, the U.S became 100% reliant on foreign fluorspar imports for over three decades. The ceremony simultaneously marked the official opening of the Delta Lumps Plant, and the historic return of the commercial fluorspar industry to the U.S.
"Ares was built on a simple idea: become the leading fluorspar mining company in North America and return fluorspar manufacturing to the U.S. Opening this plant is the start of that realization." — James Walker, CEO, Ares Strategic Mining
Reviving a Rich Local Legacy
The Spor Mountain district once supplied fluorspar to industry for more than eighty years. Ore was hauled into Delta and shipped out by the district's earliest operators, which included local Delta families. Ares is putting that history back to work: mining the Spor Mountain, trucking ore to Delta, and processing it on site alongside the local community.
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Raw fluorspar ore - the star of the ceremony.
Continued State & Federal Support
The opening ceremony was led by keynote speaker U.S. Representative Mike Kennedy, who highlighted the ongoing support from both the State and Federal government.
"The Federal government is committed to helping great people, like Ares, who are re-domesticating industries like fluorspar that we've put to the side for decades, and who are actually making our country more secure. The State of Utah supported Ares with an $11m loan, and we know that working together, both State and Federal, we can make our country more secure, stable and prosperous. I'm proud to be here celebrating this monumental event. Keep going, we need you." — Mike Kennedy, U.S. Representative, Utah
Robust Market Demand and Company Position
Market demand for fluorspar remains strong. In addition to the Company's $168.9m contract from the U.S. Department of Defense for its future acidspar product, Ares maintains a signed Memorandum of Understanding (MOU) with global commodities trader Cremer Erzkontor Inc. to distribute its metspar product across North America.
Ares is favorably positioned as the only commercial fluorspar operation in the U.S. At the Lumps Plant's 165,347-ton annual capacity and current metspar prices between $350 and $520 per metric ton, potential gross product value exceeds $25M annually, signaling the Company's transition into revenue generation.
Accelerated Mining and Future Expansion
The Lumps Plant facility is approximately 7 acres in footprint, situated on a fully owned 50 acre site off Highway 6 in Delta, Utah. Ares aims to expand its Delta footprint with the construction of a complementary Acidspar Flotation Plant. The Flotation Plant machinery is already on site and construction has commenced. Once both plants are operational, the Company can shift between producing both metspar for steel and aluminum industries, and acidspar for EV batteries, semiconductors, and technology applications.
The Lumps Plant will initially be fed by ore from the Lost Sheep Mine, which represents just 1 of the Company's 353 claims in the district. Recent geophysical surveys confirmed a further 49 preliminary fluorspar targets near the Lost Sheep Mine's existing infrastructure. The Company intends to continue supplying both plants in the longer term from these surrounding claims.
Additionally, the Company intends on further developing its program, in collaboration with Found Industries, for the recovery of gallium, germanium and other strategic critical materials from ARES-owned or controlled feedstocks associated with the Lost Sheep Mine.
"There's a new American industrial base hiding in plain sight. Metals like gallium, germanium and indium are essential to our energy, communications, space and defense industries. Many are recovered alongside other minerals and producing them takes industrial infrastructure, and the people who know how to operate it. Ares is building a domestic supply chain for fluorspar and in doing so is creating an opportunity to recover other critical metals from the same resource. Lost Sheep is one of the most promising domestic feedstocks we have encountered for exactly this work." — Peter Godart, President and CEO, Found Industries
Recognition of Technical & Operational Partners
The successful commissioning and opening of the Delta Lumps Plant, Lost Sheep Mine and Processing Facility is the result of the dedicated efforts across engineering, capital partnerships and site operations.
The Company would like to recognize its engineering partners, KC Harvey and Aspect Engineering, for their primary technical design, environmental planning, and plant engineering. The Company also acknowledges the contribution of its shareholders, and its strategic and capital partners, including Sorbie Bornholm, whose continued backing powers Ares' growth trajectory. The Company would particularly like to recognize and thank Mr. Roy Durr of Provo Mining & Construction, and his operations team, whose expertise and incredible dedication have provided the foundation for the entire operation.
"I am proud of this project, and prouder still of the crew that built it. Our people have been at the mine face and on the plant floor from the start, turning a permitted site into a working operation. Opening day belongs to them." — Roy Durr, P.Eng., President and CEO, Provo Mining and Construction
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About Ares Strategic Mining Inc.
Ares Strategic Mining Inc. is a junior mining company focused on the development of its fluorspar projects in the U.S. 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
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100% owned – 5,982 acres – 353 Claims
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Located in the Spor Mountain area, Juab County, Utah, approximately 214 km south-west of Salt Lake City
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Fully Permitted – including mining permits
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NI 43-101 Technical Report identified extensive high-grade fluorspar with low levels of impurities
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Mining plan approved by BLM
ON BEHALF OF THE BOARD OF DIRECTORS OF Ares Strategic Mining Inc.
James Walker
Chief Executive Officer and President
For further information, please contact James Walker by email at info@aresmining.com
DISCLOSURE AND FORWARD-LOOKING STATEMENTS:
Companies typically rely on comprehensive feasibility reports on mineral reserve estimates to reduce the risks and uncertainties associated with a production decision. Historically, situations where the issuer decides to put a mineral project into production without first establishing mineral reserves supported by a technical report and completing a feasibility study have a higher risk of economic or technical failure, though some industrial mineral ventures are relatively simple operations with low levels of investment and risk, where the operating entity has determined that a formal prefeasibility or feasibility study in conformance with NI 43-101 and 43-101 CP is not required for a production decision. Based on historical engineering work, geological reports, historical production data and current engineering work completed or in the process by Ares, the Company intends to move forward with the development of its Utah asset.
Certain information in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties. Forward-looking statements are often identified by terms such as "will", "may", "should", "anticipate", "expects" and similar expressions. All statements other than statements of historical fact included in this news release are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's expectations include the failure to satisfy the conditions of the relevant securities exchange(s) and other risks detailed from time to time in the filings made by the Company with securities regulations. The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company. The reader is cautioned not to place undue reliance on any forward-looking information. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date of this news release and the Company disclaims any intention or obligation to update or revise such information, except as required by applicable law.
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