Almonty Announces a Sangdong Update and the Appointment of New Director in Anticipation of the Application for ASX Listing

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TORONTO — Almonty Industries Inc. (“Almonty” or the “Firm”) (TSX: AII / OTCQX: ALMTF / Frankfurt: ALI.F) is happy to announce the appointment of Andrew Frazer to its Board of Administrators. The appointment of Mr. Frazer to our board is in anticipation of our software to the Australian Inventory Alternate for itemizing.

Andrew Frazer has over 30 years of capital markets expertise and is the founder and managing director of Lazarus Company Finance Pty Ltd, Australian Monetary Companies Licence 403684, who can also be performing as Lead Supervisor for the proposed providing in reference to the anticipated ASX itemizing.

Previous to operating his enterprise underneath Lazarus Capital Companions, Andrew was a advisor at Azure Capital, centered on fairness capital market transactions with purchasers each domestically and internationally. Andrew began his profession as a stockbroker with Hartley Poynton. He then went on to determine Hartleys’ workplace in Sydney earlier than becoming a member of Patersons Securities. Andrew then moved to Morgan Stanley in 2010.

Andrew graduated from the College of Western Australia with a Bachelor of Commerce – Honours, Bachelor of Jurisprudence and a Bachelor of Legal guidelines. Andrew additionally has obtained his CFA Constitution, together with a Diploma from the Securities Institute of the Australian Inventory Alternate.

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The Firm can also be happy to announce the ground-breaking ceremony that was carried out at our Sangdong mine web site on Friday, Might 28^th. Footage of the ceremony can be found on our web site www.Almonty.com.

Almonty’s Chairman, President and CEO Lewis Black commented:

“I’ve recognized Andrew for greater than ten years. In that point, he has frequently supported the Firm all through our progress and introduced such famous buyers akin to JP Morgan into our inventory. I can consider nobody higher to information us on a journey in Australia now that our prospectus shall be submitted this week to ASIC and the ASX. He joins us at a time of huge potential and progress for the Firm. Testomony of the help we get pleasure from in South Korea, the ground-breaking ceremony was attended by greater than 100 folks together with all ranges of Authorities, the Plansee group Korea, the Austrian embassy, KIGAM, KORES and AMCHAM. It was additionally a pleasure to host a big contingent of residents from the city of Sangdong themselves whose help is of paramount significance. The residents and the Authorities have waited many years for this ceremony and, via their and the Authorities’s help, we now embark on the rebuilding of the world’s largest tungsten mine. For a lot of residents, this ceremony was an emotional occasion but additionally the residents have been excited for a safer future for the city. The Firm will frequently pursue a powerful program of ESG to take care of a wholesome, supportive reference to the city to make sure a coexistence that can see us via the subsequent two generations that we anticipate the mine to be in operation for.”

About Almonty

The principal enterprise of Toronto, Canada-based Almonty Industries Inc. is the mining, processing and delivery of tungsten focus from its Los Santos Mine in western Spain and its Panasqueira mine in Portugal in addition to the event of its Sangdong tungsten mine in Gangwon Province, South Korea and the event of the Valtreixal tin/tungsten challenge in north western Spain. The Los Santos Mine was acquired by Almonty in September 2011 and is situated roughly 50 kilometres from Salamanca in western Spain and produces tungsten focus. The Panasqueira mine, which has been in manufacturing since 1896, is situated roughly 260 kilometres northeast of Lisbon, Portugal, was acquired in January 2016 and produces tungsten focus. The Sangdong mine, which was traditionally one of many largest tungsten mines on the earth and one of many few long-life, high-grade tungsten deposits exterior of China, was acquired in September 2015 via the acquisition of a 100% curiosity in Woulfe Mining Corp. Almonty owns 100% of the Valtreixal tin-tungsten challenge in north-western Spain. Additional details about Almonty’s actions could also be discovered at www.almonty.com and underneath Almonty’s profile at www.sedar.com.

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Authorized Discover

The discharge, publication or distribution of this announcement in sure jurisdictions could also be restricted by legislation and subsequently individuals in such jurisdictions into which this announcement is launched, printed or distributed ought to inform themselves about and observe such restrictions.

Neither the TSX nor its Regulation Companies Supplier (as that time period is outlined within the insurance policies of the TSX) accepts duty for the adequacy or accuracy of this launch.

Disclaimer for Ahead-Wanting Info

When used on this press launch, the phrases “estimate”, “challenge”, “perception”, “anticipate”, “intend”, “anticipate”, “plan”, “predict”, “could” or “ought to” and the detrimental of those phrases or such variations thereon or comparable terminology are supposed to determine forward-looking statements and data. These statements and data are based mostly on administration’s beliefs, estimates and opinions on the date that statements are made and replicate Almonty’s present expectations.

Ahead-looking statements are topic to recognized and unknown dangers, uncertainties and different components which will trigger the precise outcomes, degree of exercise, efficiency or achievements of Almonty to be materially totally different from these expressed or implied by such forward-looking statements, together with however not restricted to: any particular dangers regarding fluctuations within the worth of ammonium para tungstate (“APT”) from which the sale worth of Almonty’s tungsten focus is derived, precise outcomes of mining and exploration actions, environmental, financial and political dangers of the jurisdictions wherein Almonty’s operations are situated and adjustments in challenge parameters as plans proceed to be refined, forecasts and assessments regarding Almonty’s enterprise, credit score and liquidity dangers, hedging threat, competitors within the mining trade, dangers associated to the market worth of Almonty’s shares, the power of Almonty to retain key administration staff or procure the providers of expert and skilled personnel, dangers associated to claims and authorized proceedings towards Almonty and any of its working mines, dangers regarding unknown defects and impairments, dangers associated to the adequacy of inner management over monetary reporting, dangers associated to governmental rules, together with environmental rules, dangers associated to worldwide operations of Almonty, dangers regarding exploration, growth and operations at Almonty’s tungsten mines, the power of Almonty to acquire and preserve needed permits, the power of Almonty to adjust to relevant legal guidelines, rules and allowing necessities, lack of appropriate infrastructure and staff to help Almonty’s mining operations, uncertainty within the accuracy of mineral reserves and mineral assets estimates, manufacturing estimates from Almonty’s mining operations, lack of ability to exchange and increase mineral reserves, uncertainties associated to title and indigenous rights with respect to mineral properties owned straight or not directly by Almonty, the power of Almonty to acquire sufficient financing, the power of Almonty to finish allowing, building, growth and growth, challenges associated to world monetary situations, dangers associated to future gross sales or issuance of fairness securities, variations within the interpretation or software of tax legal guidelines and rules or accounting insurance policies and guidelines and acceptance of the TSX of the itemizing of Almonty shares on the TSX.

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Ahead-looking statements are based mostly on assumptions administration believes to be affordable, together with however not restricted to, no materials hostile change out there worth of ammonium para tungstate (APT), the persevering with capability to fund or receive funding for excellent commitments, expectations relating to the decision of authorized and tax issues, no detrimental change to relevant legal guidelines, the power to safe native contractors, staff and help as and when required and on affordable phrases, and such different assumptions and components as are set out herein. Though Almonty has tried to determine necessary components that might trigger precise outcomes, degree of exercise, efficiency or achievements to vary materially from these contained in forward-looking statements, there could also be different components that trigger outcomes, degree of exercise, efficiency or achievements to not be as anticipated, estimated or supposed. There could be no assurance that forward-looking statements will show to be correct and even when occasions or outcomes described within the forward-looking statements are realized or considerably realized, there could be no assurance that they’ll have the anticipated penalties to, or results on, Almonty. Accordingly, readers shouldn’t place undue reliance on forward-looking statements and are cautioned that precise outcomes could fluctuate.

Traders are cautioned towards attributing undue certainty to forward-looking statements. Almonty cautions that the foregoing record of fabric components shouldn’t be exhaustive. When counting on Almonty’s forward-looking statements and data to make selections, buyers and others ought to rigorously think about the foregoing components and different uncertainties and potential occasions.

Almonty has additionally assumed that materials components won’t trigger any forward-looking statements and data to vary materially from precise outcomes or occasions. Nonetheless, the record of those components shouldn’t be exhaustive and is topic to vary and there could be no assurance that such assumptions will replicate the precise end result of such objects or components.

THE FORWARD-LOOKING INFORMATION CONTAINED IN THIS PRESS RELEASE REPRESENTS THE EXPECTATIONS OF ALMONTY AS OF THE DATE OF THIS PRESS RELEASE AND, ACCORDINGLY, IS SUBJECT TO CHANGE AFTER SUCH DATE. READERS SHOULD NOT PLACE UNDUE IMPORTANCE ON FORWARD-LOOKING INFORMATION AND SHOULD NOT RELY UPON THIS INFORMATION AS OF ANY OTHER DATE. WHILE ALMONTY MAY ELECT TO, IT DOES NOT UNDERTAKE TO UPDATE THIS INFORMATION AT ANY PARTICULAR TIME EXCEPT AS REQUIRED IN ACCORDANCE WITH APPLICABLE LAWS.

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Contacts

Lewis Black
Chairman, President and CEO
Phone: +1 647 438-9766
E mail: info@almonty.com