Ares Strategic Mining Produces Saleable-Grade Metspar Lumps and Welcomes Mr. Bob Li as Interim General Manager During Handover
DELTA, UTAH - November 13, 2026 - Ares Strategic Mining Inc. (CSE: ARS) (OTCQX: ARSMF) (FRA: N811) ("Ares" or the "Company") is pleased to announce it is now producing metallurgical-grade fluorspar (“metspar”) lumps at saleable grade, meeting the customer specifications targeted for the Company’s initial deliveries. The Company also announces that it is transferring the site operations from Provo Mining and Construction, Inc. (“Provo”) to Ares operational management. Ares Director and Chairman of the Mujim Group, Mr. Bob Li, has stepped in to lead the transition, leveraging his years of operational fluorspar operations for Ares’ operations.
Highlights:
Saleable-grade metspar lumps are being produced at the Delta Lumps Plant, meeting targeted customer specifications.
Bob Li, currently a Director of the Company, is now on site in Delta assisting the current team.
Site operations transitioning from Provo to direct Ares operational management.
Operational Update: Saleable Product from a Connected Mine-to-Plant System
Throughout September and October, the Delta team increased plant feed from the Lost Sheep Mine and carried out product testing and process optimization. That work has delivered an important result: fluorspar lumps are coming off the production line at saleable grade, meeting the customer specifications targeted for the Company’s initial deliveries this month.
Although the ramp-up to commercial production has taken longer than originally planned, the Company’s focus is on consistently repeating product quality, increasing saleable output and coordinating production with customer delivery requirements.
First commercial shipments and sales are expected to commence in November, subject to final customer acceptance and shipping arrangements. The Company will confirm the first shipment once it has been completed.
Chairman of the Mujim Fluorspar Operation, Mr. Bob Li, is lending his expertise to the operation
Ares is pleased to announce that Mr. Bob Li is now on site in Delta. Mr Li is currently a Director of the Company and will continue to serve on the Board.
(L-R) - Mr. Lumin Ma - Geotechnical Engineer & Mr. Bob Li - Director
Mr Li brings extensive experience in fluorspar mining, processing, plant design and metallurgy through his work with the Mujim Group, which supplied Ares’ processing plants, including the Lumps Plant. He has been closely involved in the commissioning of the Lumps Plant and in product quality sign-off, and his knowledge of both the equipment and the product makes him an important contributor as the Company optimises performance and builds production.
Mr Li will bring that expertise directly into Ares’ operational leadership. His focus will be practical: consistent product quality, efficient plant operation, operator development and close coordination between mine supply and processing.
Transition of Site Operations to Direct Ares Management
Mr. Roy Durr and his Provo team have played a substantial role in developing the Lost Sheep Mine and the Delta processing facility. The Company is now advancing the handover from contractor-led development to direct Ares management of ongoing operations, which is expected to complete in mid-December, 2026.
The transition is designed to preserve the experience and site knowledge of the people who built the operation, while bringing production planning, maintenance, staffing and operating priorities under coordinated Ares leadership.
As announced on October 20, 2026, the Company agreed to settle US $1,000,000 of outstanding debt relating to mine and processing facility development through the issuance of 5,550,588 common shares at a deemed price of C$0.255 per share. The debt, originally owed to Provo, was assigned to Roy Durr, who requested settlement in shares as an investment in Ares. The settlement reduced the Company’s liabilities while preserving cash for operations, and aligns Mr Durr’s investment with the Company’s future progress.
“As Ares grows its manufacturing activities and transitions its operations, experienced operational leadership is central to converting installed infrastructure into dependable commercial output, and Bob’s knowledge of the plant and the product makes him the right person to lead operations.” - James Walker, Chief Executive Officer and President of Ares.
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
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
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.
