Ares Strategic Mining Achieves Saleable-Grade Fluorspar Production and Transitions to Direct Operational Management

DELTA, UTAH — November 13, 2026 — Leads & Copy — Ares Strategic Mining Inc. (CSE: ARS) (OTCQX: ARSMF) (FRA: N811) announced it is now producing metallurgical-grade fluorspar lumps at a saleable grade, meeting customer specifications for initial deliveries. The company is also transferring site operations from Provo Mining and Construction, Inc. (“Provo”) to Ares’ direct operational management. Bob Li, a Director and Chairman of the Mujim Group, will lead the transition, utilizing his extensive experience in fluorspar operations.

Fluorspar lumps meeting the targeted customer specifications are being produced at the Delta Lumps Plant. Mr. Li is currently on site in Delta to assist the existing team. Throughout September and October, the Delta team increased plant feed from the Lost Sheep Mine and conducted product testing and process optimization, resulting in fluorspar lumps of saleable grade coming off the production line.

While the ramp-up to commercial production has taken longer than anticipated, the company is focusing 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, pending final customer acceptance and shipping arrangements. Ares will confirm the first shipment once it has been completed.

Mr. Bob Li, Chairman of the Mujim Fluorspar Operation, is lending his expertise to the Delta operation. Mr. Li, a current Director of Ares, brings significant experience in fluorspar mining, processing, plant design, and metallurgy from his work with the Mujim Group. He has been involved in the commissioning of the Lumps Plant and product quality sign-off, and his knowledge is expected to be instrumental as the company optimizes performance and builds production. Mr. Li will bring this expertise directly into Ares’ operational leadership, focusing on consistent product quality, efficient plant operation, operator development, and close coordination between mine supply and processing.

The transition of site operations from contractor-led development to direct Ares management of ongoing operations is expected to be completed by mid-December 2026. This transition is designed to retain the experience and site knowledge of the individuals who developed the operation while bringing production planning, maintenance, staffing, and operating priorities under coordinated Ares leadership. As previously announced on October 20, 2026, Ares agreed to settle US $1,000,000 of outstanding debt related to mine and processing facility development by issuing 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. This settlement reduced the company’s liabilities and preserved cash for operations, aligning 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,” said James Walker, Chief Executive Officer and President of Ares.

Ares Strategic Mining Inc. is a junior mining company focused on developing its fluorspar projects in the U.S., aiming to become a significant supplier of high-grade fluorspar to North American markets. The Lost Sheep Fluorspar Project in Delta, Utah, spans 5,982 acres and 353 claims, is fully permitted, and has a NI 43-101 Technical Report identifying extensive high-grade fluorspar. A mining plan has been approved by the BLM.

Source: Ares Strategic Mining Inc.