Ares Strategic Mining Announces Board Evolution to Support Nasdaq Transition and Next Phase of Corporate Growth

(TheNewswire)

Company AppointsSenior Financial and International Business Executive Lorenzo Estevato Board as ARES Advances Toward Greater Institutional and CommercialExpansion

Vancouver, B.C., 19th May 2026 –TheNewswire –Ares Strategic MiningInc. (CSE: ARS) (OTCQX: ARSMF) (FRA: N8I1) ispleased to announce a strategic evolution of its Board of Directors asthe Company advances toward its next phase of growth, operationalmaturity, and planned transition to a senior U.S. exchange.

To support ARES’ continued expansion and increasingengagement with U.S. institutional, commercial, and financial markets,the Company is pleased to announce the appointment of Lorenzo Estevato the Board of Directors.

Strengthening the Board for the NextStage of Development

Mr. Esteva brings more than 30 years of seniorfinancial, restructuring, wealth management, corporate advisory, andinternational business experience across the United States and LatinAmerica. His background includes senior leadership roles at:

• UBS Financial Services 

• Merrill Lynch 

• Prospero International 

• Golden Ratio CS LLC 

Throughout his career, Mr. Esteva hasspecialized in:

• Institutional and private capital markets 

• Corporate restructuring and operationaloptimization 

• International business expansion 

• Strategic partnerships and mergers 

• Ultra-high-net-worth client advisory 

• Cross-border finance and offshore operations 

James Walker, President and CEO of Ares StrategicMining, commented: “As Ares continues to mature into a larger andmore institutionally focused company, it is essential that our Boardevolves alongside it. Lorenzo brings an exceptional combination ofbanking, corporate finance, restructuring, and internationalcommercial expertise that will be invaluable as we continue scalingoperations, expanding internationally, and preparing for the nextlevel of public market participation.”

Positioning ARES for InstitutionalGrowth

The Board transition reflects Ares’ evolution from adevelopment-stage mining company into an emerging strategic materialssupplier with:

• Active mining operations 

• Expanding processing infrastructure 

• Major U.S. government contracts 

• Increasing international commercialopportunities 

• Planned uplisting initiatives 

Mr. Esteva’s appointment isexpected to strengthen the Company’s:

• Institutional market readiness 

• Banking and financial relationships 

• Commercial structuring capabilities 

• International business development efforts 

• Strategic growth planning 

“Ares is entering a transformative period,” addedWalker. “Our operational progress, strategic governmentrelationships, and expanding market position require a board with deepcommercial and financial expertise capable of supporting a companyoperating at a much larger scale.”

As part of this transition, Paul Sarjeant and RaulSanabria have agreed to step down from the Board of Directors. TheCompany sincerely thanks both individuals for their commitment,guidance, and support during Ares’ formative growth stages and itssuccessful advancement toward becoming the only domestic fluorsparproducer in the United States.

About Lorenzo Esteva

Mr. Esteva is a seasoned financial executive andstrategic advisor with decades of experience in corporate finance,operational restructuring, capital solutions, and internationalbusiness expansion. He graduated with honors from Tufts University inBoston, MA with degrees in Economics/Finance and Classical Studies. Hehas worked extensively with institutional investors, family offices,private equity groups, and multinational commercial operationsthroughout the Americas. His expertise spans:

• Business development 

• Risk management 

• Capital structuring 

• Mergers and acquisitions 

• Financial optimization 

• Strategic operational growth 

About Ares Strategic Mining

Ares Strategic Mining Inc. is a mining company focusedon the development of its fluorspar projects in the U.S. The Companyaims to become a significant supplier of high-grade fluorspar to NorthAmerican markets, supporting industries vital to modern technology andinfrastructure.

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 extensivehigh-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 August1992.

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

ON BEHALF OF THE BOARD OF DIRECTORSOF

ARES STRATEGIC MINING INC.

James Walker

Chief Executive Officer andPresident

For further information, please contact James Walker byemail at info@aresmining.com

DISCLOSURE AND FORWARD-LOOKINGSTATEMENTS:

Companies typically rely oncomprehensive feasibility reports on mineral reserve estimates toreduce the risks and uncertainties associated with a productiondecision. Historically, situations where the issuer decides to put amineral project into production without first establishing mineralreserves supported by a technical report and completing a feasibilitystudy have a higher risk of economic or technical failure, though someindustrial mineral ventures are relatively sim statements ofhistorical fact included in this news release are forward-lookingstatements that involve risks and uncertainties. There can be noassurance that such statements will prove to be accurate and actualresults and future events could differ materially from thoseanticipated in such statements. Important factors that could causeactual results to differ materially from the ple operations with lowlevels of investment and risk, where the operating entity hasdetermined that a formal prefeasibility or feasibility study inconformance with NI 43-101 and 43-101 CP is not required for aproduction decision. Based on historical engineering work, geologicalreports, historical production data and current engineering workcompleted or in the process by Ares, the Company intends to moveforward with the development of its Utah asset.

Certain information in this newsrelease may contain forward-looking statements that involvesubstantial known and unknown risks and uncertainties. Forward-lookingstatements are often identified by terms such as “will”,“may”, “should”, “anticipate”, “expects” and similarexpressions. All statements other thanCompany’s expectations includethe failure to satisfy the conditions of the relevant securitiesexchange(s) and other risks detailed from time to time in the filingsmade by the Company with securities regulations. The reader iscautioned that assumptions used in the preparation of anyforward-looking information may prove to be incorrect. Events orcircumstances may cause actual results to differ materially from thosepredicted, as a result of numerous known and unknown risks,uncertainties, and other factors, many of which are beyond the controlof the Company. The reader is cautioned not to place undue reliance onany forward-looking information. Such information, although consideredreasonable by management at the time of preparation, may prove to beincorrect and actual results may differ materially from thoseanticipated. Forward-looking statements contained in this news releaseare expressly qualified by this cautionary statement. Theforward-looking statements contained in this news release are made asof the date of this news release and the Company disclaims anyintention or obligation to update or revise such information, exceptas required by applicable law.

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