• Company has begun arranging shipping for plant steel and equipment.
• Steel structures will install alongside Ares’ already shipped lumps plant.
• Ares’ partners will accompany the steel and equipment to site to assist with installation.

Vancouver, B.C –  January 19, 2022 — Ares Strategic Mining Ltd. (the “Company”) (CSE: ARS) (OTC:ARSMF) (FRA: N8I1), is pleased to announce that the fabrication of its recently ordered steel has been completed and the Company has taken possession. The Company has now begun arranging to ship the steel to the United States, where it will be integrated with its recently shipped lumps plant in the Company’s production construction project.

The steel structure will provide a 3-storey structure, which will house the Company’s plant, allowing workers to optimally adjust the plant as it manufactures metallurgical fluorspar lumps. The plant will be the only one of its kind in the United States, so Ares has arranged for experienced international operators to accompany the plant to Utah, where they will assist with the construction and optimization of the plant.

Metallurgical fluorspar lumps are an extremely in demand upgraded industrial product used in the steel industry, and which the Company is looking to supply internally within North America as part of its role as the only domestic U.S. producer. 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.

James Walker, President and CEO of the Company said, “The Company was faced with a steeply increasing steel price, and backlogged orders, but navigated the problems quickly to source a reputed supplier with a proven track record that could supply Ares with steel products within a reasonable cost and timeline. Our metallurgical tests have demonstrated a high-quality product which has garnered interest amongst manufacturers, and we have elicited the assistance of experienced groups to assist us in the installation of our facility. This was an important step towards becoming part of the United States’ industrial base, and we will keep everyone abreast of developments as we continue to advance in that direction.”

• 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^[1]
• First approved by Rex Rowley – Area Manager, Bureau of Land Management – 24th August 1992.
• Renewed by Paul B. Baker – Minerals Program Manager, Bureau of Land Management – 12th December 2016.

Raul Sanabria, P.Geo., is a qualified person as defined by NI 43-101 and has reviewed and approved the technical contents of this news release.  Mr. Sanabria is not independent to the Company as he is a Director and shareholder.

ON BEHALF OF THE BOARD OF DIRECTORS OF

ARES STRATEGIC MINING LTD.

James Walker
Chief Executive Officer and President

For further information, please contact Mark Bolin by phone at 604-345-1576 or by email at jwalker@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.

^[1]

SOURCE:  Ares Strategic Mining Ltd.

• Ares discovers large high-grade fluorspar mineralization, at least 60 m down plunge, averaging over 80% pure fluorspar, and is still open at depth.
• Greater mineralized fluorspar widths and consistent grades compared with first drill program.
• Large fluorspar mineralized zones found at surface, averaging over 50% fluorspar.
• High-grade veins found between fluorspar pipes.
• Every drill hole intersected fluorspar during this exploration program.
• Ares can now complete its mine plan and engineering work to progress into the construction phase of the project.

Vancouver, B.C – January 27^th, 2021 — Ares Strategic Mining Ltd. (TSXV: ARS) (OTCQB: ARSMF) (FRA: N8I1),(“Ares” or the “Company”), is pleased to announce it has received the remaining assay results from its delineation drilling program at its Utah fluorspar mine. Ares has successfully located and confirmed additional fluorspar mineralization within its permitted mining area, which will be included in its primary mining operation for 2021.

A total of 10 reverse circulation drill holes, drilling approximately 875 meters, were collared between the two known fluorspar deposits on the Company’s permitted mining area. Fluorspar mineralization was consistent throughout the entire area, connecting the large fluorspar deposits examined during two previous drill programs in 2020. Drilling was directed under the shallower part of the Purple Pit, where large areas of unmined fluorspar mineralization were intersected, proving an additional 60 m of high-grade fluorspar (see Figures 2, 3 and 4). These fluorspar pipes remain open at depth.

James Walker, President and CEO stated: “We are pleased to have received these long-awaited assay results and are excited to complete our mine planning and advance the operation. We knew from visual confirmation that the quality of fluorspar from the drill program was high, and its great to have the laboratory confirm these estimations. The assay results can now be fitted to a block model, and the optimum mining methods can be finalized. Ares continues to demonstrate some of the highest naturally occurring grades of fluorspar in the world, while concurrently demonstrating negligible detrimental impurities. Combined with Ares’ recent metallurgical advancements, the prospects of the expanded mining operation continue to improve.”

Figure 1. Drill hole plan section outlining the distribution of fluorspar mineralization.

Figure 2. Drill hole section 1 (LS-20-27 and LS-20-28) outlining the distribution of fluorspar mineralization.

Figure 3. Drill hole section 2 (LS-20-24 and LS-20-25) outlining the distribution of fluorspar mineralization.

Figure 4. Drill hole section 3 (LS-20-23 and LS-20-26) outlining the distribution of fluorspar mineralization.

Drill Holes LS-20-27 and LS-20-28 intersected a very shallow zone of fluorspar mineralization at surface, that extends 20m x 10m in plan view and 30m down dip (See figure 2).

Hole LS-20-27 averaged 25.91 m of 51.42% CaF₂ over an interval from 6.1 to 32.0 meters down hole. Hole LS-20-28 averaged 12.19 m of 45.46% CaF₂ over an interval from 9.14 to 21.33 m down hole and 6.1 m of 63.27% CaF₂ from 33.52 to 39.62 m down hole.

Drill holes LS-20-24 and LS-20-25 (Section 2) test the down dip projection of the fluorspar mineralization left at the bottom of the Purple Pit and successfully intercepted mineralization over 50 meters beneath the historic pit floor. The zone remains open at depth.

In this section the main pipe appears to split into two zones, indicating a smaller pod to the west of the main pipe that intersected 3.05 m of 43.9% CaF₂ from 74.67 to 77.72m. Drill hole LS-20-25 also intersected fluorspar mineralization in the main pipe that returned 59.33% CaF2 over 9.14 m from 59.44 to 68.58 m down hole, including a high grade zone at 60.96 to 65.53 m down hole (4.57 m of 84.33% CaF₂). Drill hole LS-20-24 undercut LS-20-25 and intersected the main mineralized below the Purple Pit returning 43.77% over 19.81 m from 77.72 to 97.54 m down hole (including a high grade sub-interval of 3.05 m of 94.58% CaF₂ from 83.82 to 86.87 m down hole). The upper part of hole LS-20-24 intersected a thin zone of fluorite mineralization also found in drill holes LS-20-27 and LS-20-28, and returned 4.57 m of 36.50% CaF₂  from 62.48 to 67.06 m down hole.

Drill holes LS-20-23 and LS-20-26 (Section 3) also show over a 50 meters extension of fluorspar mineralization from the Purple Pit floor and mineralization remains open at depth.

Fluorspar mineralization is very homogeneous in both the upper intersect in hole LS-20-26 from 41.15 to 57.91 m down hole averaging 45.40% CaF₂ over 16.76 m (including 4.57 m of 81% CaF₂).  Drill hole LS-20-23 undercut the previous hole and intersected strong fluorspar mineralization from 53.34 to 77.72 m down hole averaging 24.77% CaF₂ over 24.4 m, including a high-grade interval of 4.57 m of 73.83% CaF₂. The true width of the fluorspar mineralization in these areas range between 10 and 15 meters.

(*) The results reported are intersect lengths and due to the nature of the fluorspar mineralization as irregular breccia pipes they are not considered true widths at this moment.

Drill samples were sent to AGAT Laboratories in Burnaby, British Columbia for preparation and then to AGAT Labs in Mississauga, Ontario for final assays. Assay method for CaF₂ consisted of 201-676 Lithium Borate Fusion, Summation of Oxides and XRF Finish. Routine blank, standard, and field duplicates were inserted in the sample batches following standard QA/QC practices.

Raul Sanabria, P.Geo., is a qualified person as defined by NI 43-101 and has reviewed and approved the technical contents of this news release.  Mr. Sanabria is not independent to the Company as he is a Director and shareholder.

Disclosure: Companies typically rely on comprehensive feasibility reports on mineral reserve estimates to reduce the risks and uncertainties associated with a production decision. 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. The Company has not completed a feasibility study on, nor has the Company completed a mineral reserve or resource estimate at the Lost Sheep Mine and as such the financial and technical viability of the project is at higher risk than if this work had been completed. 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 this asset. The Company further cautions that it is not basing any production decision on a feasibility study of mineral reserves demonstrating economic and technical viability, and therefore there is a much greater risk of failure associated with its production decision. In addition, readers are cautioned that inferred mineral resources are considered too speculative geologically to have economic considerations applied to them that would enable them to be categorized as mineral reserves. The development of a mining operation typically involves large capital expenditures and a high degree of risk and uncertainty. To reduce this risk and uncertainty, the issuer typically makes its production decision based on a comprehensive feasibility study of established mineral reserves. The Company has decided to proceed without established mineral reserves, basing decision on past production and internal projections.

Lost Sheep Fluorspar Project – Delta, Utah

• 100% owned – 2,100 acres – 108 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[1]

[1] First approved by Rex Rowley – Area Manager, Bureau of Land Management – 24th August 1992.

Renewed by Paul B. Baker – Minerals Program Manager, Bureau of Land Management – 12th December 2016.

ON BEHALF OF THE BOARD OF DIRECTORS OF

ARES STRATEGIC MINING LTD.

James Walker
Chief Executive Officer and President

For further information, please contact Mark Bolin by phone at 604-781-0535 or by email at mbolin@aresmining.com

Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.

Source:  ARES STRATEGIC MINING LTD.

Vancouver, BC – December 22, 2020 — Ares Strategic Mining Ltd. (“Ares” or the “Company”) (TSXV: ARS) (OTC:ARSMF) (FRA: N8I1), is pleased to announce the Company has completed its engineering design work on the upcoming processing facility to be installed at the mining operation in 2021.

The Company has completed the full Process Design Criteria, and has assembled a proposal for equipment manufacturers, which includes flow-sheets.  The full plant will take raw ore and produce an acidspar grade product, which is used in the manufacture of aluminum, refrigeration units, touch screens, fluorine, hydrofluoric acid, and electric car batteries. This high-end industrial product requires a fluorspar purity of 97%+, which the new plant will provide. Acidspar sells for a premium in the fluorspar market due to the vast number of industrial applications. The product composes over two-thirds of the United States’ fluorspar market, and is currently 100% imported from countries outside the United States.

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. This plant will provide the United States with the first domestic supply of acidspar in years.

The Ares Processing Facility

James Walker, President and CEO of the Company said, “We hope to complete the tendering process and get started on the construction, delivery, and commissioning of the plant, immediately. This will be the largest acquisition ahead of the Company launching the US’ first completely domestic acidspar operation in decades. The Company is transitioning from its design and planning phase, into the construction and equipment acquisition phase of its mining operation. We are fortunate that all permitting is already in place, and only heavy machinery and a plant is required to commence mining. The plant is the longest lead item, so during its construction and installation, all construction can be completed, and all mining equipment can be purchased and installed. The Company is very pleased to be making good progress towards its mining goals, and anticipates a very successful 2021.”

Raul Sanabria, P.Geo., is a qualified person as defined by NI 43-101 and has reviewed and approved the technical contents of this news release.  Mr. Sanabria is not independent to the Company as he is a Director and shareholder.

Lost Sheep Fluorspar Project – Delta, Utah

• 100% owned – 2,100 acres – 108 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[1]

[1] First approved by Rex Rowley – Area Manager, Bureau of Land Management – 24th August 1992.

Renewed by Paul B. Baker – Minerals Program Manager, Bureau of Land Management – 12th December 2016.

ON BEHALF OF THE BOARD OF DIRECTORS OF

ARES STRATEGIC MINING LTD.

James Walker
Chief Executive Officer and President

For further information, please contact Mark Bolin by phone at 604-781-0535 or by email at mbolin@aresmining.com

Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.

SOURCE:  Ares Strategic Mining Ltd.

• Ares doubles plant capacity and output plans based on large fluorspar mineralization discovery on its permitted mining area.
• Following the successful preliminary delineation program, Ares’ delineation program completes 875m of reverse circulation drilling in 10 drill holes.
• New discovery connects two large known mining sites and expands preliminary mining plan scope.
• All drill holes have located fluorspar showings during the current exploration program.
• After the positive drilling discoveries, the Company will continue to delineate additional fluorspar deposits outside of the delineated fluorspar pipes, in highly prioritized targets.

Vancouver, BC –  October 28, 2020 — Ares Strategic Mining Inc. (OTCQB: ARSMF) (TSX-V: ARS) (FRA: N8I1) (“Ares” or the “Company”), is pleased to announce the completion of its delineation drilling at the Lost Sheep Mine, successfully locating a large discovery of additional fluorspar within its permitted mining area, and expanding its primary mining operation for 2021.

A total of 10 reverse circulation drill holes, covering approximately 875m, have been drilled between the Company’s two known large mining pits. Fluorspar mineralization was consistent throughout the area, connecting the Company’s delineated primary mining target and a known pipe within the permitted mining area. Drilling was directed under the shallower part of an historic mine, and large areas of fluorspar mineralization were located at depth, providing an additional 50m and 60m as indicated by the drill hole intersects (see Figs 2 and 3). These fluorspar pipes remain open at depth. Between the Company’s known mines, drillholes 18 and 26 show over 30 meters of fluorspar mineralization, open at both depth and above, likely extending the fluorspar all the way to surface, giving over 60m of high grade fluorspar (see Fig. 4). The width of the fluorspar mineralization in these areas is between 20 and 30m. In the northernmost drillholes, a fluorspar pipe between 10 and 15m wide, and 30m long, is also intersected at shallow depths by further fluorspar. As seen in Figs. 1 and 5, the area connecting the two known fluorspar mines spans over 40m between holes 19 and 20, and which the surrounding drillholes indicate extends an additional 20m to the surface. Additionally, disseminations of fluorspar have been located, which are frequent and conspicuous all around the main fluorspar mineralized zones.

James Walker, President and CEO stated: “Finding such large fluorspar mineralization zones just next to the area we had planned for our initial mining operation has completely changed and expanded our mining plans. Our engineers have decided to increase the capacity of the plant from 250 tons/day to 500 tons/day, and mine more through open pit mining than underground, significantly lowering the mining cost for each ton of excavated fluorspar. This second drill program has located fluorspar mineralization larger than the initial target, and which connects the initial target to another known mine, creating a far larger initial target the Company can begin exploiting next year. The discovery translates to an accelerated ramp-up in production plans that were planned to begin towards the end of 2021, but which can be moved forward by 6 months. This is a tremendous development for Ares, and massively improves the Company’s prospects and potential for next year when production begins.”

Fig. 1 Plan view of 2020 drillholes and delineation of fluorspar mineralization.

Fig 2. Drill hole section outlining the distribution of fluorite mineralization.

Fig 3. Drill hole section outlining the distribution of fluorite mineralization.

Fig 4. Drill hole section outlining the distribution of fluorite mineralization.

Fig 5. Drill hole section outlining the distribution of fluorite mineralization.

Fig 6. Preliminary 3D render of the Fluorspar mineralization distribution after completion of 2020 delineation drilling at the Lost Sheep Mine (see buildings for scale).

Drill samples are in transit to Vancouver (Canada) following strict chain of custody and QA/QC protocols that include insertion of blank, standard and field duplicate samples. Samples are then being sent to AGAT Laboratories in Burnaby for preparation and AGAT Labs in Mississauga, Ontario for final assays.

Following the successful discovery, the Company is proceeding to test other prospective targets immediately adjacent to the current operation (250 and 350 meters away) and within the permitted area (See news release dated Sept. 9^th, 2020) before the snow and winter arrives. These sites are based on a conceptual model that links fluorite bearing breccia pipes exposed fluorspar at surface in normal fault planes. The model is testing the upper part of the severed breccia pipes in the hanging wall block, based on surface expression features and alteration present.

Raul Sanabria, P.Geo., is a qualified person as defined by NI 43-101 and has reviewed and approved the technical contents of this news release.  Mr. Sanabria is not independent to the Company as he is a Director and shareholder.

Disclosure: Companies typically rely on comprehensive feasibility reports on mineral reserve estimates to reduce the risks and uncertainties associated with a production decision. 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. The Company has not completed a feasibility study on, nor has the Company completed a mineral reserve or resource estimate at the Lost Sheep Mine and as such the financial and technical viability of the project is at higher risk than if this work had been completed. 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 this asset. The Company further cautions that it is not basing any production decision on a feasibility study of mineral reserves demonstrating economic and technical viability, and therefore there is a much greater risk of failure associated with its production decision. In addition, readers are cautioned that inferred mineral resources are considered too speculative geologically to have economic considerations applied to them that would enable them to be categorized as mineral reserves. The development of a mining operation typically involves large capital expenditures and a high degree of risk and uncertainty. To reduce this risk and uncertainty, the issuer typically makes its production decision based on a comprehensive feasibility study of established mineral reserves. The Company has decided to proceed without established mineral reserves, basing decision on past production and internal projections.

Lost Sheep Fluorspar Project – Delta, Utah

>> 100% owned – 2,100 acres – 108 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[1]

[1] First approved by Rex Rowley – Area Manager, Bureau of Land Management – 24th August 1992.

Renewed by Paul B. Baker – Minerals Program Manager, Bureau of Land Management – 12th December 2016.

ON BEHALF OF THE BOARD OF DIRECTORS OF

ARES STRATEGIC MINING LTD.

James Walker
Chief Executive Officer and President

For further information, please contact Mark Bolin by phone at 604-781-0535 or by email at mbolin@aresmining.com

Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.

SOURCE:  ARES STRATEGIC MINING LTD.

• Ares identifies many additional non-mined fluorspar bearing breccia pipes after following regional ground exploration work which confirmed fluorspar mineralization exposed at surface.
• Ares consolidates the Fluorspar District by adding the Blue Queen and the Lost Soul prospects.
• 28 new claims had been added to the Company’s operation, amassing a total of 108 claims covering the entire length and breadth of the Spor Mountain range, and exceeding an area of over 2,000 acres (10 x 5km approx.), with consistent fluorspar mineralization being demonstrated throughout the area.

Vancouver, B.C. – October 19, 2020 — Ares Strategic Mining Ltd. (“Ares” or the “Company”) (TSXV: ARS) (OTC:ARSMF) (FRA: N8I1), is pleased to announce the Company has located and acquired additional mining prospects demonstrating fluorspar mineralization, and consolidating the Spor Mountain Fluorspar District.

James Walker, President and CEO stated: “This development further increases the potential of Ares’ operation for both the short-term and long-term. Using a combination of aerial mapping and geotechnical analyses, our staff determined how the fluorspar pipes were formed throughout the Spor Mountain District, and identified the likely locations of the fluorspar pipes according to the known geological mechanics of the area. The veracity of these predictions were verified by visual inspection of the identified locations, where dozens of new fluorspar showings were demonstrated at surface. This work deserves special acknowledgment for its ingenuity and accuracy, and for further enlarging the Company’s potential and future mining options. The Company has made enormous advances during 2020, and this development grants Ares even greater potential capacity as the U.S’ only permitted and producing fluorspar mining operation.”

Detailed analysis of the Lidar orthofoto, combined with the high-resolution Digital Elevation Model (DEM), revealed distinct features typical of intrussive breccias through the host rock limestones and dolostones outside of the company’s land position and within the Spor Mountain range. Ground exploration carried out by the company during the months of September and October 2020, resulted in positive identification of fluorspar mineralization at surface in a number of those identified targets. Most of these new discoveries are new and have never been historically described. Some of these targets show unequivocal characteristic textures of the fluorspar breccia pipes, such as crackle breccia textures cemented by calcite or volcanic rock, and even show the remnant boxworks of the weathered spongy textures characteristic of the fluorspar mineralization in the area. They occur as a circular to elliptical shape breaking through the limestone/dolostone host rock.

Photo 1. Fluorspar mineralization at surface in a newly discovered zone north of Bell Hill mine.

In addition to the discoveries, the company also managed to acquire some of the remaining historic prospects shown in the USGS’ files, which include the Blue Queen and the Lost Soul prospects, as well as many showings not identified in previous USGS reports. In particular, a series of fluorspar showings around the north of the Bell Hill claims, and south of the Floride mine.

Photo 2. Fluorspar mineralization exposed at the Blue Queen prospect.

Photo 3. Fluorspar mineralization exposed at the Lost Soul prospect.

Photo 4. Purple Trench prospect containing fluorspar mineralization SE of Floride mine.

Fig. 1 Ares Strategic Mining consolidated land position claim map. Updated October 2020.

Raul Sanabria, P.Geo., is a qualified person as defined by NI 43-101 and has reviewed and approved the technical contents of this news release. Mr. Sanabria is not independent to the Company as he is a Director and shareholder.

Disclosure: Companies typically rely on comprehensive feasibility reports on mineral reserve estimates to reduce the risks and uncertainties associated with a production decision. 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. The Company has not completed a feasibility study on, nor has the Company completed a mineral reserve or resource estimate at the Lost Sheep Mine and as such the financial and technical viability of the project is at higher risk than if this work had been completed. 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 this asset. The Company further cautions that it is not basing any production decision on a feasibility study of mineral reserves demonstrating economic and technical viability, and therefore there is a much greater risk of failure associated with its production decision. In addition, readers are cautioned that inferred mineral resources are considered too speculative geologically to have economic considerations applied to them that would enable them to be categorized as mineral reserves. The development of a mining operation typically involves large capital expenditures and a high degree of risk and uncertainty. To reduce this risk and uncertainty, the issuer typically makes its production decision based on a comprehensive feasibility study of established mineral reserves. The Company has decided to proceed without established mineral reserves, basing decision on past production and internal projections.

Lost Sheep Fluorspar Project – Delta, Utah

100% owned – 2,100 acres – 108 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[1]

[1] First approved by Rex Rowley – Area Manager, Bureau of Land Management – 24th August 1992.

Renewed by Paul B. Baker – Minerals Program Manager, Bureau of Land Management – 12th December 2016.

ON BEHALF OF THE BOARD OF DIRECTORS OF

ARES STRATEGIC MINING LTD.

James Walker
Chief Executive Officer and President

For further information, please contact Mark Bolin by phone at 604-781-0535 or by email at mbolin@aresmining.com

Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.

SOURCE:  Ares Strategic Mining Ltd.

• Ares identifies a new zone of fluorspar mineralization connected to its preliminary mining target.
• Following the successful Phase 1 delineation program, Ares accelerates its exploration and delineation program and expands its mining targets.
• The new discovery connects two known mining sites and expands the preliminary mining plan scope.
• All 5 drill holes within the new zone have intersected fluorspar mineralization, with mineralization boundaries still remaining open.
• After the positive drilling results, the Company will continue to delineate additional fluorspar mineralized zones for its planned future mining operations.

Vancouver, BC October 5^th, 2020 — Ares Strategic Mining Ltd. (TSXV: ARS) (OTC:ARSMF) (FRA: N8I1) (“Ares” or the “Company”) is pleased to announce the discovery of new and additional fluorspar mineralization  between its the Little Giant Pit (LGP) mining site, and an historic mining site called the Purple Pit, all falling within its permitted mining area.

Ares has accelerated its RC drilling exploration program, expanding the known LGP target after a successful first round of delineation drilling. The Company has also discovered a new area of fluorspar mineralization between the recently drilled (LGP) mining site and the historic mining area of the Purple Pit. Both mining sites are characterized by high-grade fluorspar mineralization and geological evidence now clearly indicates the LGP branches off from the Purple Pit.  Drilling suggests the newly discovered fluorspar connects these mining areas and forms one large single fluorspar bearing breccia. Current drilling has delineated a fluorspar zone over >35m long and 15m wide in plan view. Drilling has further tested the zone to a vertical depth of 70m as per the deepest drill intersect.  Mineralisation is still open to the north, south and at depth.

Drilling is currently progressing with five holes already completed for a total of 420m and at least four more holes are planned for an additional 400 m to continue further delineation of this zone.

Representative fluorspar mineralization found between the LGP and Purple Pits during September 2020 RC drilling.

Once the current site has completed its delineation drilling, the Company will progress to confirm other prospective targets immediately adjacent to the current operation (250 and 350 meters Northeast), which also fall within the Company’s permitted mining area (See news release dated Sept. 9^th, 2020). These targets are based geotechnical and Lidar data obtained by the Company, which it has used to create a conceptual model that links the fluorspar bearing breccia pipes which are exposed at surface, and fluorspar contained within fault planes where severed fluorspar pipes remain in the hanging wall blocks. Ares is confident that these targets can be identified based on surface expression features (recessive topography and disruption of stratigraphic markers such as thick limestone beds).  The targets have been identified with surface reconnaissance and the occurrence of breccias with varying degrees of alteration and fluorspar. A minimum of 5 holes (500 to 700m) will be drilled at these NE target zones and if successful, Ares will begin to delineate additional fluorspar mineralization readily accessible from surface for future operations.

James Walker, President and CEO of the Company said, “The high grade results from the last drill program gave us a great insight into the geology and layout of the subsurface fluorspar mineralization, and directed the Company towards locations where high-grade fluorspar was likely located. The first drill holes have confirmed that Ares’ geological assessment were correct, and credits its VP of Exploration, Mr. Raul Sanabria with the successful analysis of the available technical information. Ares can now consider expanding its proposed production capacity and processing facilities at its mine, and anticipates secondary and tertiary mining operations at other sites alongside its Giant Little Pit operation. The Company and its staff are excited at the tangible near-term and long-term prospects, and are looking forward to commencing operations and being the only domestic supplier of metspar and acidspar to the U.S.”

After the initial very encouraging results, Lead Mining Engineer, Mr. Keith Minty, who is leading the mine and engineering planning work for the near-term mining operation, has requested that his future invoices continue to be settled through a Shares for Service arrangement, whereby 60% of his remuneration will be settled in Ares stock. The Company is pleased to approve this request as an endorsement of the project.

Raul Sanabria, P.Geo., is a qualified person as defined by NI 43-101 and has reviewed and approved the technical contents of this news release.  Mr. Sanabria is not independent to the Company as he is a Director and shareholder.

Disclosure: Companies typically rely on comprehensive feasibility reports on mineral reserve estimates to reduce the risks and uncertainties associated with a production decision. 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. The Company has not completed a feasibility study on, nor has the Company completed a mineral reserve or resource estimate at the Lost Sheep Mine and as such the financial and technical viability of the project is at higher risk than if this work had been completed. 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 this asset. The Company further cautions that it is not basing any production decision on a feasibility study of mineral reserves demonstrating economic and technical viability, and therefore there is a much greater risk of failure associated with its production decision. In addition, readers are cautioned that inferred mineral resources are considered too speculative geologically to have economic considerations applied to them that would enable them to be categorized as mineral reserves. The development of a mining operation typically involves large capital expenditures and a high degree of risk and uncertainty. To reduce this risk and uncertainty, the issuer typically makes its production decision based on a comprehensive feasibility study of established mineral reserves. The Company has decided to proceed without established mineral reserves, basing decision on past production and internal projections.

Lost Sheep Fluorspar Project – Delta, Utah

100% owned – 1,447 acres – 67 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[1]

[1] First approved by Rex Rowley – Area Manager, Bureau of Land Management – 24th August 1992.

Renewed by Paul B. Baker – Minerals Program Manager, Bureau of Land Management – 12th December 2016.

ON BEHALF OF THE BOARD OF DIRECTORS OF

ARES STRATEGIC MINING LTD.

James Walker
Chief Executive Officer and President

For further information, please contact Mark Bolin by phone at 604-781-0535 or by email at mbolin@aresmining.com

Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.

Source: Ares Strategic Mining Ltd.

– Ares identifies more fluorspar targets on its permitted area.

– Company will seek to delineate additional fluorspar mineralization for mining operations.

– Company will launch new drill program Wednesday 9^th September for up to 1,500m of RC drilling consisting of between 10-15 drill holes.

Vancouver, BC – September 9, 2020 — Ares Strategic Mining Ltd. (TSXV: ARS) (OTCQB:ARSMF) (FRA: N8I1) (“Ares” or the “Company”), is pleased to announce an immediate follow-up drill program after confirming high-grade fluorspar mineralization on its Lost Sheep fluorspar mine.

Ares will again employ More Core Diamond Drilling Services Ltd., to conduct RC drilling for to test for additional fluorspar mineralization within the Lost Sheep fluorspar mine area in Utah to assist planning for possible mining in the future. The Company will drill two or three holes (200 to 300m of drilling) between the old Purple Pit and the recently delineated LGP target to test for possible continuity of fluorspar mineralization and/or depth extension.   Personal communications with individuals that worked the underground Purple Pit mine indicates that there is still mineralisation trending towards the LGP pipe at the 250 foot level and below the 325 foot level. These areas will be tested during Phase 2 of drilling.

The Company will also test a series of very prospective targets immediately adjacent to the current operation (250 and 350 meters away) and within the permitted area, based on a conceptual model that links fluorite bearing breccia pipes with exposed fluorspar at surface. A minimum of 5 holes (500 to 700m) will be drilled in this target zone and if successful, will begin to delineate additional fluorspar mineralization readily accessible from surface.

James Walker, President and CEO of the Company said, “The high grade results from the last drill program, and the confirmation that other possible high-grade areas exist within our permitted mine area and extensive exploration land package, has encouraged the Company to move forward its timelines. Ares is currently considering expanding the proposed production capacity and processing facilities at its mine.  The Company anticipates secondary and tertiary mining operations at other sites in the future. By moving our drill program forward, we hope to enable faster expansion of our production capabilities once mining operations have commenced. The Company and its staff are very excited at the near-term and long-term prospects, and we are looking forward to commence operations and being the only domestic supplier of metspar and acidspar to the U.S.”

The Company has conducted detailed geology interpretation after examining high-resolution imagery and DEM models obtained from the recently acquired Lidar survey and has identified a fault set that produced repetitive offset of the geological sequence. The majority of the known historic fluorite operations are located in the steep south slopes of a series of different parallel hills, in a “domino” style of extensional faulting. Blind targets are located in the hanging wall offset blocks. The conceptual model indicates the exposed deposits correspond to the lower sections of the fluorspar bearing pipes, and the top parts of the pipes, reaching or not the surface, can be predicted in those offset blocks immediately adjacent to them.

SW of the Spor Mountain Range:  There is a consistent extensional and SE directed “domino” like normal fault system (fault planes highlighted in blue color) where the majority of the known mines and prospects are exposed along those fault planes. Existing fluorite bearing volcanic breccia pipes formed prior to this fault system and were later offset. The pipes can be severed in several sliced sections as offset by subsequent parallel faults of the same system at different elevations. Blind targets and continuity of the mineralization can be found in the hanging wall displaced blocks to the SE of each fault.

Geological evidence at the Lost Sheep and Purple Pit deposits supports the geological model and was successful in finding additional fluorite bearing pipes when geologists were directed to prospect areas of interest.   Several breccia pipes exposed right at surface where located, including the spongy textures and fluorspar mineralization.

Fluorite bearing volcanic breccia found in-situ reaching the surface in the target zone.

Raul Sanabria, P.Geo., is a qualified person as defined by NI 43-101 and has reviewed and approved the technical contents of this news release.  Mr. Sanabria is not independent to the Company as he is a Director and shareholder.

Disclosure: Companies typically rely on comprehensive feasibility reports on mineral reserve estimates to reduce the risks and uncertainties associated with a production decision. The Company has not completed a feasibility study on, nor has the Company completed a mineral reserve or resource estimate at the Lost Sheep Mine and as such the financial and technical viability of the project is at higher risk than if this work had been completed. 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 this asset. The Company further cautions that it is not basing any production decision on a feasibility study of mineral reserves demonstrating economic and technical viability, and therefore there is a much greater risk of failure associated with its production decision. In addition, readers are cautioned that inferred mineral resources are considered too speculative geologically to have economic considerations applied to them that would enable them to be categorized as mineral reserves. The development of a mining operation typically involves large capital expenditures and a high degree of risk and uncertainty. To reduce this risk and uncertainty, the issuer typically makes its production decision based on a comprehensive feasibility study of established mineral reserves. The Company has decided to proceed without established mineral reserves, basing decision on past production and internal projections.

Lost Sheep Fluorspar Project – Delta, Utah

100% owned – 1,447 acres – 67 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 current and valid and approved by BLM[1]

[1] First approved by Rex Rowley – Area Manager, Bureau of Land Management – 24th August 1992.

Renewed by Paul B. Baker – Minerals Program Manager, Bureau of Land Management – 12th December 2016.

ON BEHALF OF THE BOARD OF DIRECTORS OF ARES STRATEGIC MINING LTD.

James Walker
Chief Executive Officer and President

For further information, please contact Mark Bolin by phone at 604-781-0535 or by email at mbolin@aresmining.com

Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.

Source:  Ares Strategic Mining Ltd.

• Large homogeneous zones of high-grade Fluorspar discovered – suitable for direct shipping to industry without requiring any processing.
• High grade zones up to 89% purity discovered at Ares’ Lost Sheep Fluorspar Mine.
• Ares immediately commences mine planning and modelling with assay results.
• Ares begins plant design and equipment defining.

Vancouver, BC – August 31, 2020 — Ares Strategic Mining Ltd. (TSXV: ARS) (OTCQB:ARSMF) (FRA: N8I1 (“Ares” or the “Company”)), is pleased to announce it has received all the assay results from its 12 Reverse Circulation delineation drill holes from the drill program conducted at its Lost Sheep Fluorspar mining operation located In Delta, Utah, US.

James Walker, President and CEO of the Company said, “The results have been a great validation of our project assessment and its potential. Not only do we have the only permitted and producing fluorspar mine in the U.S, but we can now confirm that high grades of naturally occurring fluorspar at our mine. This is excellent news for U.S. industries which import 100% of its fluorspar from abroad. Fluorspar is used in aluminum, steel, refrigeration units, electric car batteries, smart phones, medical supplies, cement, and hydrofluoric acid, and now U.S industry has the potential to source fluorspar domestically instead of from abroad. We have discovered large sections of fluorspar which already meet industry standards. We have commenced plant design work, block modelling, and resource calculations for the drilled and assayed fluorspar pipe. With the already completed metallurgical work, which the company recently announced had achieved the highest grade required by industry, Ares is advancing with its mine construction plans with the anticipation to supply to US industry in the near future.”

High-grade fluorspar is located within discrete near vertical fluorite bearing volcanic breccia pipes hosted within competent limestone.  Due to working safety and space limitations inside the actual LGP pit, all 12 RC drill holes were drilled from two locations/pads fanned through the fluorite bearing breccia pipe boundaries at different elevations to delineate the shape and grade distribution of the Fluorspar mineralization within it as well as the contacts with the limestone wall rock at different elevation levels.

A summary of the drill intersects and grades can be seen in the table below.

These assay results confirm the very high fluorspar grades reported from historic productions at the different mines  that operated between the 1950’s and the 1980’ in the Spor Mountain by the USGS in various reports. These reports already indicated the fluorspar occurrences in the Spor Mountain rank amongst the highest naturally occurring fluorspar grades in the World.

As seen in the sections 1 and 2 following text, Fluorspar grades above 60% CaF₂ are concentrated in the uppermost portion of the pipe to a depth of 35 to 40m, and then sharply decrease to 10-20% CaF₂ averages in the lowermost part of the pipe (root). Silica contents are in general very low and there are no visible sulfides or any other deleterious elements, making it very clean product for further upgrading to acidspar.

For a more comprehensive view of the 3D distribution of Fluorspar and drill hole intersects, please follow the link below to access a video posted in the company’s website:

https://www.aresmining.com/post/the-3d-model-of-ares-lost-seep-fluorspar-mine-site

QA/QC

Core samples were sent to SGS in Burnaby (British Columbia) for preparation and then to SGS in Lakefield (Ontario) for analysis, with approximately three control samples inserted (one blank, one standard and one field duplicate for each twenty samples). The samples were analyzed for fluorine element using GC XRF76V (Included F 0.1-50%) package, that also includes SiO2%, Al2O3%, Fe2O3%, MgO%, CaO%, Na2O%, K2O%, TiO2%, P2O5%, MnO%, Cr2O3% and V2O5%. Comparison to control samples and their standard deviations indicates acceptable accuracy of the assays.

The drill hole information has been shared with P&E Mining Consultants to start working in a mineral resource estimate, economic models and subsequent mine design for optimum mining methods moving to the next stages of development which precede mining and production.

Plan view of the Lost Sheep Mine RC Delineation drill program, 2020.

RC Drilling Section 1 indicating strong high-grades of Fluorspar in the upper part of the fluorite bearing pipe.

RC Drilling Section 2 of the fluorite bearing pipe indicating the continuity of the fluorspar mineralization below 75m from surface, even though at lower grades (between <10 to 30% CaF₂) than those found near surface.

Raul Sanabria, P.Geo., is a qualified person as defined by NI 43-101 and has reviewed and approved the technical contents of this news release.  Mr. Sanabria is not independent to the Company as he is a Director and shareholder.

Disclosure: Companies typically rely on comprehensive feasibility reports on mineral reserve estimates to reduce the risks and uncertainties associated with a production decision. 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. The Company has not completed a feasibility study on, nor has the Company completed a mineral reserve or resource estimate at the Lost Sheep Mine and as such the financial and technical viability of the project is at higher risk than if this work had been completed. 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 this asset. The Company further cautions that it is not basing any production decision on a feasibility study of mineral reserves demonstrating economic and technical viability, and therefore there is a much greater risk of failure associated with its production decision. In addition, readers are cautioned that inferred mineral resources are considered too speculative geologically to have economic considerations applied to them that would enable them to be categorized as mineral reserves. The development of a mining operation typically involves large capital expenditures and a high degree of risk and uncertainty. To reduce this risk and uncertainty, the issuer typically makes its production decision based on a comprehensive feasibility study of established mineral reserves. The Company has decided to proceed without established mineral reserves, basing decision on past production and internal projections.

Lost Sheep Fluorspar Project – Delta, Utah

• 100% owned – 1,447 acres – 67 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[1]

[1] First approved by Rex Rowley – Area Manager, Bureau of Land Management – 24th August 1992.

Renewed by Paul B. Baker – Minerals Program Manager, Bureau of Land Management – 12th December 2016.

ON BEHALF OF THE BOARD OF DIRECTORS OF

ARES STRATEGIC MINING LTD.

James Walker
Chief Executive Officer and President

For further information, please contact Mark Bolin by phone at 604-781-0535 or by email at mbolin@aresmining.com

Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.

Source:  ARES STRATEGIC MINING LTD.

– Ares appoints Mr. Keith Minty P. Eng. MBA to coordinate the project development, construction, commissioning and operations of the Company’s Lost Sheep Fluorspar Mine.

– Mr. Minty is a past Northern Miner’s “Mining Man of the Year” recipient.

– Mr. Minty has extensive experience leading the construction and commissioning of nine mines worldwide, including the largest open pit Palladium operation in North America.

– Mr. Minty has been employed as a senior mining engineer, mine superintendent, mine designer, and a mining CEO and President.

Vancouver, B.C. – August 19th, 2020 – Ares Strategic Mining Inc. (“Ares” or the “Company”) (TSXV:ARS) (OTC:ARESMF) (FRA:N8I1), is pleased to announce the appointment of Mr. Keith Minty, to the position of Vice President – Project Manager, responsible for coordinating, progressing, and launching, commissioning the Company’s new expanded fluorspar mining operation located near Delta Utah, U.S.A.

Mr. Minty obtained a B.Sc. in Mining Engineering from Queen’s University, Kingston Ontario, Canada in 1978 and an MBA from Athabasca University in 2014. Mr. Minty has over 30 years of international and domestic mine development and operating experience as a successful mine builder, developing dozens of projects from exploration stages through to production on several different continents. Among Mr. Minty’s previous projects, he restructured the only North American platinum group metal project with a C$350 million initial public offering and developed North American Palladium as the world’s fifth largest platinum group metal producer, with the lowest operating cost and the highest productivity.

After examining the Lost Sheep Mine and its potential, Mr. Minty has agreed to settle 60% of his future Invoices in Company Stock through a Shares for Debt Settlement. Mr. Minty has already commenced work on the Lost Sheep mine, bringing his experienced team and contacts to advance the mine to production. The Company has agreed to settle $14,100 of Mr. Minty’s Invoices through shares, at the current trading price of $0.10, for a total of 141,000 shares. Ares welcomes Mr. Minty to its shareholder base and draws great confidence from the endorsement and assessment he has made of the Company’s potential.

James Walker, President and CEO of the Company said, “We’re extremely pleased to welcome someone of Mr. Minty’s experience to our Company. His project development experience will be an invaluable asset to the company during the development stages of our Lost Sheep Mine. Having Mr. Minty’s assistance, and project development experience at our operation will greatly benefit Ares. We consider his involvement to be a major validation of our plans and future ambitions. We are very pleased to welcome him into the Company and are excited for the upcoming project development work, and to take advantage of his extensive professional experience.”

Raul Sanabria, P.Geo., is a qualified person as defined by NI 43-101 and has reviewed and approved the technical contents of this news release. Mr. Sanabria is not independent to the Company as he is a Director and shareholder.

Disclosure: Companies typically rely on comprehensive feasibility reports on mineral reserve estimates to reduce the risks and uncertainties associated with a production decision. 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. The Company has not completed a feasibility study on, nor has the Company completed a mineral reserve or resource estimate at the Lost Sheep Mine and as such the financial and technical viability of the project is at higher risk than if this work had been completed. 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 this asset. The Company further cautions that it is not basing any production decision on a feasibility study of mineral reserves demonstrating economic and technical viability, and therefore there is a much greater risk of failure associated with its production decision. In addition, readers are cautioned that inferred mineral resources are considered too speculative geologically to have economic considerations applied to them that would enable them to be categorized as mineral reserves. The development of a mining operation typically involves large capital expenditures and a high degree of risk and uncertainty. To reduce this risk and uncertainty, the issuer typically makes its production decision based on a comprehensive feasibility study of established mineral reserves. The Company has decided to proceed without established mineral reserves, basing decision on past production and internal projections.

Lost Sheep Fluorspar Project – Delta, Utah

– 100% owned – 1,447 acres – 67 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 BLM1

First approved by Rex Rowley – Area Manager, Bureau of Land Management – 24th August 1992.

Renewed by Paul B. Baker – Minerals Program Manager, Bureau of Land Management – 12th December 2016.

ON BEHALF OF THE BOARD OF DIRECTORS OF

ARES STRATEGIC MINING LTD.

James Walker
Chief Executive Officer and President

For further information, please contact Mark Bolin by phone at 604-781-0535 or by email at mbolin@aresmining.com

Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.

SOURCE:  Ares Strategic Mining Inc.