Vancouver, BC – TheNewswire - October 20th, 2026 – Ares Strategic Mining Inc. (“Ares” or the “Company”) (CSE: ARS) Ares Strategic Mining Inc. announces that it has agreed to settle US$1,000,000 (C$1,415,400) 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 Mining and Construction, Inc., was assigned to Roy Durr, who requested settlement in shares as an investment in Ares. The settlement will reduce the Company’s liabilities while preserving cash for operations.

 

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 jwalker@aresmining.com