- Ares appoints Mr. Keith Minty P. Eng. MBA to coordinate the project development, construction, commissioning and operations of the Company's Lost Sheep Fluorspar Mine.
- Mr. Minty is a past Northern Miner's "Mining Man of the Year" recipient.
- Mr. Minty has extensive experience leading the construction and commissioning of nine mines worldwide, including the largest open pit Palladium operation in North America.
- Mr. Minty has been employed as a senior mining engineer, mine superintendent, mine designer, and a mining CEO and President.
Vancouver, B.C. - TheNewswire - August 19th, 2020 -- Ares Strategic Mining Inc. ("Ares" or the "Company") (TSXV:ARS) (OTC:ARESMF) (FRA:N8I1), is pleased to announce the appointment of Mr. Keith Minty, to the position of Vice President - Project Manager, responsible for coordinating, progressing, and launching, commissioning the Company's new expanded fluorspar mining operation located near Delta Utah, U.S.A.
Mr. Minty obtained a B.Sc. in Mining Engineering from Queen's University, Kingston Ontario, Canada in 1978 and an MBA from Athabasca University in 2014. Mr. Minty has over 30 years of international and domestic mine development and operating experience as a successful mine builder, developing dozens of projects from exploration stages through to production on several different continents. Among Mr. Minty's previous projects, he restructured the only North American platinum group metal project with a C$350 million initial public offering and developed North American Palladium as the world's fifth largest platinum group metal producer, with the lowest operating cost and the highest productivity.
After examining the Lost Sheep Mine and its potential, Mr. Minty has agreed to settle 60% of his future Invoices in Company Stock through a Shares for Debt Settlement. Mr. Minty has already commenced work on the Lost Sheep mine, bringing his experienced team and contacts to advance the mine to production. The Company has agreed to settle $14,100 of Mr. Minty's Invoices through shares, at the current trading price of $0.10, for a total of 141,000 shares. Ares welcomes Mr. Minty to its shareholder base and draws great confidence from the endorsement and assessment he has made of the Company's potential.
James Walker, President and CEO of the Company said, "We're extremely pleased to welcome someone of Mr. Minty's experience to our Company. His project development experience will be an invaluable asset to the company during the development stages of our Lost Sheep Mine. Having Mr. Minty's assistance, and project development experience at our operation will greatly benefit Ares. We consider his involvement to be a major validation of our plans and future ambitions. We are very pleased to welcome him into the Company and are excited for the upcoming project development work, and to take advantage of his extensive professional experience."
Raul Sanabria, P.Geo., is a qualified person as defined by NI 43-101 and has reviewed and approved the technical contents of this news release. Mr. Sanabria is not independent to the Company as he is a Director and shareholder.
Disclosure: Companies typically rely on comprehensive feasibility reports on mineral reserve estimates to reduce the risks and uncertainties associated with a production decision. 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. The Company has not completed a feasibility study on, nor has the Company completed a mineral reserve or resource estimate at the Lost Sheep Mine and as such the financial and technical viability of the project is at higher risk than if this work had been completed. 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 this asset. The Company further cautions that it is not basing any production decision on a feasibility study of mineral reserves demonstrating economic and technical viability, and therefore there is a much greater risk of failure associated with its production decision. In addition, readers are cautioned that inferred mineral resources are considered too speculative geologically to have economic considerations applied to them that would enable them to be categorized as mineral reserves. The development of a mining operation typically involves large capital expenditures and a high degree of risk and uncertainty. To reduce this risk and uncertainty, the issuer typically makes its production decision based on a comprehensive feasibility study of established mineral reserves. The Company has decided to proceed without established mineral reserves, basing decision on past production and internal projections.
Lost Sheep Fluorspar Project - Delta, Utah
- 100% owned - 1,447 acres - 67 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 BLM1
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.
Chief Executive Officer and President
For further information, please contact Mark Bolin by phone at 604-781-0535 or by email at email@example.com
Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.
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