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Ares Strategic Mining Inc. Commences Drill Program at the Lost Sheep Mine

Vancouver, British Columbia, April 16th, 2020. ARES STRATEGIC MINING INC. ("Ares Strategic Mining” or “Ares” or the “Company”) (TSX-V: ARS) (FRANKFURT: N8I), today announced it has commenced drilling at the Lost Sheep fluorspar mine.

As part of Ares’ planned production increase at its Utah Fluorspar mine, More Core from Stewart, BC has been engaged to complete a Phase 1 drill program, consisting of 14 Reverse Circulation drill holes at the Lost Sheep mine, with a total depth drilled of 1,500 meters. The first 8 holes are planned to better delineate the mineralized zone between 50 to 100m depths and facilitate adit design for future underground mining operations. Six more holes are planned to explore for depth extension of an outcropping fluorspar breccia pipe 150m north of the two known fluorspar pipes, and the potential connection of these breccia pipes at depths. This drilling information will also provide Ares with additional data points to plan its future mining operations.

James Walker, President and CEO of the Company said, “This delineation drilling will provide the Company the information to design a comprehensive mine plan so we can optimize mining operations aiming to achieve the greatest efficiency and capacity possible. We are very pleased to be making progress despite the restrictions and challenges all companies are currently facing.”

- 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. -. 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 occurrences with low levels of impurities. • Mining plan approved by BLM1. 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. Disclaimer for Forward-Looking Information Certain statements in this release are forward-looking statements, which reflect the expectations of management regarding the Debt Settlement and Option grants. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Forward looking statements in this news release include, without limitation: the ability of Ares to obtain the necessary approvals; a suggestion that the Debt Settlement will be completed as contemplated; the grant of the options will be approved by TSXV. Such statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements, including the risk that the TSXV may not approve the Debt Settlement. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits Ares will obtain from them. Readers are urged to consider these factors carefully in evaluating the forward-looking statements contained in this news release and are cautioned not to place undue reliance on such forward-looking statements, which are qualified in their entirety by these cautionary statements. These forward-looking statements are made as of the date hereof and Ares disclaims any intent or obligation to update publicly any forward-looking statements, whether as a result of new information, future events or results or otherwise, except as required by applicable securities laws.


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