Ares Strategic Mining Accelerates Acidspar Production to Meet Pentagon Contract
Vancouver, B.C. — February 5, 2026 — Leads & Copy — Ares Strategic Mining Inc. is accelerating its roadmap to acidspar production to meet its Pentagon contract obligations. The initiative includes expanding mining activities at Spor Mountain and fast-tracking the construction of a flotation plant.
According to Ares, imminent drilling will expand mining targets and the number of mines available. The company also plans to bring in crews to produce the highest grade fluorspar products in 2026.
The Department of Defense (DoD) contract has a ceiling of $250 million, awarded upon delivery of quality product from December 30, 2025, to December 29, 2030. The company said acidspar must be delivered within 36 months after the issuance of each delivery order, the first of which was awarded on December 30, 2025.
The revision of Ares’ company roadmap and production plan allows the company to realize the contract award at the agreed market rates, according to Ares. James Walker, CEO, said the DoD contract has transformed the company’s roadmap, adding that funding will help the company reach its first DoD deliveries and the ceiling of the award in the specified timeframe.
The latest $10 million funding enabled Ares to revise its production plan, Walker said.
Ares announced it closed its previously announced offering of units by issuing 16,666,666 units at CAD $0.60 per unit, for aggregate gross proceeds of $10 million. Walker said the funding is a vote of confidence in the company’s mission and enables it to revise its roadmap and production plans.
Ares also announced an increase in institutional investment. The company is required to disclose benchmark amounts expected to be received and the actual proceeds received under financing arrangements entered into with Sorbie Bornholm LP (“Sorbie”).
The company entered into three separate financing facilities with Sorbie, each with a different benchmark price and monthly baseline amount.
For the $1.5M financing in September 2024, the aggregate benchmark amount for months paid to date is $1,000,000.00, while the aggregate gross proceeds received to date (October 2024 through January 2026) is $1,119,564.38. Upfront fees paid to enter the agreement totaled $105,000.
For the $1.0M financing in April 2025, the aggregate benchmark amount for months paid to date is $375,003.00, while the aggregate gross proceeds received to date (May 2025 through January 2026) is $727,313.86. Upfront fees paid to enter the agreement totaled $70,000.
For the $1.0M financing in October 2025, the aggregate benchmark amount for months paid to date is $125,001.00, while the aggregate gross proceeds received to date (November 2025 through January 2026) is $97,884.42. There were no upfront fees paid to enter the agreement.
According to Ares, the total proceeds received to date exceed the aggregate benchmark amount by $269,758.66.
Ares also issued 700,000 options to its consultants on January 23, 2026, to purchase 700,000 common shares at an exercise price of $0.63 per share, expiring January 23, 2028.
James Walker, CEO and President, made the announcement on behalf of the Board of Directors of Ares Strategic Mining Inc.
Source: Ares Strategic Mining Inc.
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