Ares Strategic Mining Commences Mining Operations

Core Viewpoint - Ares Strategic Mining Inc. has commenced mining operations at its Lost Sheep Fluorspar Mine in Utah, marking a significant transition from development to production and demonstrating progress towards sustained acidspar output [1][2]. Group 1: Mining Operations - The company has successfully mined several thousands of tons of fluorspar ore, which are now stockpiled at the surface in preparation for processing [1][3]. - Underground operations are progressing steadily, with efficient extraction and transportation of ore to surface stockpiles, adhering to strong operational discipline and safety standards [3][5]. Group 2: Production Strategy - The stockpiling phase is part of a broader strategy to ensure a smooth ramp-up to full acidspar production, with infrastructure in place to support consistent throughput once the flotation plant is operational [5][8]. - The company aims to build a strategic ore inventory ahead of the flotation plant commissioning, optimize blending and grade control, and ensure an uninterrupted feedstock supply for processing [7][13]. Group 3: Market Position - Fluorspar is recognized as a critical mineral in the U.S., essential for various industries, and Ares is the only permitted and operating fluorspar mine in the country, reinforcing its position in the domestic supply chain [8][12]. - The commencement of stockpiling not only indicates operational readiness but also reflects the company's commitment to disciplined execution and long-term value creation [8][9]. Group 4: Future Outlook - Ares expects to continue expanding surface stockpiles, advance flotation plant readiness, and prepare for initial processing runs, moving closer to steady-state production [9][13]. - The company has settled CAD 185,199.23 for services rendered by issuing 381,854 common shares, which are subject to a statutory hold period [9].