VANCOUVER, B.C. - January 20, 2026 (NEWMEDIAWIRE) - In a major development for the U.S. critical minerals industry, Ares Strategic Mining Inc. (CSE: ARS) (OTC: ARSMF) (FRA: N8I1) has been officially awarded a $168,938,267.30 contract by the U.S. Department of Defense (DoD) through the Defense Logistics Agency (DLA) - a significant initiative to help strengthen America’s domestic manufacturing and supply base and support the rebuilding of U.S. strategic mineral stockpiles.

The award is part of a five-year Indefinite Delivery/Indefinite Quantity (IDIQ) agreement, with a total contract ceiling of up to $250 million. “This is the kind of contract that transforms companies, and secures the future of U.S. industry,” said James Walker, CEO of Ares Strategic Mining. “We’re not just producing fluorspar; we’re helping build a more resilient and secure domestic supply chain for critical minerals.”

This award represents a major milestone for Ares and further strengthens the Company’s positioning as a strategic domestic supplier of acid-grade fluorspar, a U.S. designated critical mineral essential to defense readiness, industrial manufacturing, clean energy supply chains, and high-tech applications.

Contract Highlights

• Award Value Locked In: $168.9 million

• Potential Upside: Up to $250 million through future task orders

• Customer: United States Department of Defense

• Supplier: Ares Strategic Mining – the only U.S. producer of acid-grade fluorspar

• Mission: Support replenishment of government stockpiles of strategic and critical minerals

This contract establishes Ares as a sole-source domestic supplier of acidspar to the U.S. government – and the only U.S.-based operation positioned to deliver this critical mineral supply at scale.

Strategic National Significance and A Major Step Forward for Domestic Critical Mineral Independence

Acid-grade fluorspar (“acidspar”) is a vital input used in the production of hydrofluoric acid and fluorine-based materials, supporting industries including:

• Defense systems & missile tech

• Steel & aluminum production

• Fluorochemical manufacturing

• Semiconductors, batteries, and next-gen electronics

• National defense-related supply chain resilience

The United States has historically been 100% import-dependent for fluorspar, making the establishment of a domestic supply chain a critical national priority. This award marks a turning point. It not only validates the national importance of Ares’ Utah-based Lost Sheep Project, but also positions the Company at the heart of America’s effort to build a robust domestic sourcing network to ensure long-term self-sufficiency.

With this award, Ares is positioned to support the U.S. government’s mission to invest in a more resilient and secure national supply chain and promote long-term growth by prioritizing domestic sourcing of critical minerals. James Walker added that, “This award reflects the U.S. government’s commitment to revitalizing a long-neglected critical mineral supply chain. We are proud to support the U.S. government’s strategic material reserves by supplying domestically sourced, high-grade acidspar. This contract confirms our leadership in rebuilding U.S. critical mineral capability and ensures our products directly contribute to national resilience, industrial strength, and long-term security. We are now a partner in America’s strategic future.”

About Ares Strategic Mining

Ares Strategic Mining Inc. is a 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[1]

First approved by Rex Rowley – Area Manager, Bureau of Land Management – 24th August 1992.

Renewed by Paul B. Baker – Minerals Program Manager, Bureau of Land Management – 12th December 2016.

ON BEHALF OF THE BOARD OF DIRECTORS OF ARES STRATEGIC MINING LTD.

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.

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