VANCOUVER, BC - Ares Strategic Mining Inc. (CSE: ARS) (OTCQX: ARSMF) (FRA: N8I1) announced that members of management and insiders have committed approximately $990,112.65 to acquire common shares at $0.28 per share, representing about 3.53 million shares. The investment comes as the company reports significant operational progress, including active mining at the Lost Sheep Mine, growing ore stockpiles, and construction of processing facilities.
The insider investment reflects management's belief in the company's long-term value and future growth prospects. Over the past year, Ares has transformed from a development-stage company into an emerging producer with active mining operations, growing surface ore stockpiles, progress on both the Lumps Plant and Acidspar Flotation Plant, major U.S. government contract awards, and strategic critical mineral positioning within the United States.
James Walker, President and CEO of Ares Strategic Mining, stated: "Management believes the Company has reached a point where its operational progress, strategic assets, government relationships, and production trajectory are not fully reflected in the current market valuation. This investment demonstrates our confidence in the future we are building and our commitment to creating long-term value alongside shareholders."
The company believes it is entering one of the most significant periods in its history, with multiple catalysts expected over the coming months, including continued mine production and stockpiling, advancement toward processing operations, development of domestic acidspar production capacity, execution of government contract opportunities, expansion of commercial relationships, and continued strengthening of the company's balance sheet and market position.
Walker added: "The story of Ares today is one of execution. We have built the mine, we are mining, we are building the processing facilities, and we are securing customers. Management's decision to invest nearly one million dollars alongside shareholders reflects our belief that the most exciting chapters of Ares are still ahead of us."
Ares also announced the renewal of its engagement with Pivotal CM Limited to support investor communications, digital strategy, marketing initiatives, shareholder engagement, website management, conference organization, content development, and advertising campaigns. Under the renewed arrangement, approximately US$356,250 of services will be satisfied through the issuance of common shares at the current market price, representing approximately 1.76 million shares, subject to regulatory approvals.
The company also agreed to settle $69,046.47 of debt incurred for financial services from Prospero and Craven Capital by issuing 246,595 common shares at a deemed price of $0.28 per share.
Regarding board evolution, Lorenzo Esteva elected to step down from the Board of Directors in response to public response. Ares noted that certain public commentary regarding Mr. Esteva's prior regulatory history contained misrepresentation and erroneous characterizations. Mr. Esteva's lawyer clarified that he voluntarily resigned his FINRA registrations and disputed most allegations that have circulated publicly. The company expressed appreciation for his professionalism and regretted the inaccurate publications that caused him to step down.
These developments underscore Ares Strategic Mining's transition from a development-stage company to an emerging producer of fluorspar, a critical mineral used in various industrial applications. The company's 100% owned Lost Sheep Fluorspar Project in Utah is fully permitted with mining plan approved by the Bureau of Land Management. With management's significant investment and ongoing operational milestones, Ares appears positioned to capitalize on the growing demand for domestic fluorspar supply.
