Ares Strategic Mining Closes Second Tranche of Non-Brokered Private Placement Offering
Summary
To date, the Company has raised an aggregate amount of$2,074,007.14 from the first and second trancheclosings.James Walker, CEO of Ares, said, Despite a slowmining market, certain projects have earned investor interest thanksto their ability to make advancements and progress. Ares isfortunately one of those companies, having recently been able todevelop its mine and construct processing facilities, making it ableto attract investment looking for promising prospects. TheCompany has expedited the installation of new mine works to ensurefeed for our new plant which is currently under construction, and ournew acidspar manufacturing facility which will be delivered nextquarter. The Company intends to use the proceeds of theLIFE Offering as disclosed in the Life Offering Document dated May 9,2024, which is available under the Companys profile on www.sedarplus.com and on theCompanys website (www.aresmining.com), for completing the ramp installation to intersect fluorsparmineralization at depth at its Lost Sheepfluorspar property located in Delta, Utah, to provide feed for themanufacturing facility which is currently under construction and forgeneral and corporate working capital purposes. The use of any of thewords could, intend, expect, believe,will, projected, estimated and similar expressionsand statements relating to matters that are not historical facts areintended to identify forward-looking information and are based on theCompanys current belief or assumptions as to the outcome and timingof such future events.In particular, this news releasecontains forward-looking information relating to, among other things,the Life Offering, including the total anticipated proceeds, theexpected use of proceeds and the closing (including the proposedclosing date) of the balance of the Life Offering.