Almonty Industries Inc. (“Almonty” or the “Company”) (TSX: AII / ASX: AII / OTCQX: ALMTF / Frankfurt: ALI.F), has announced a significant milestone in the development of its Sangdong tungsten mine and processing plant with the arrival and installation of cutting-edge grinding equipment from Metso Corporation. This development brings the Sangdong project one step closer to full operations, marking a pivotal moment in the effort to supply an enormous new source of tungsten from outside of China.

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

“We sincerely appreciate Metso and its specialized professionals for their dedicated effort and hard work in delivering this significant engineering output, applying their paralleled experience and expertise in the mining industry to develop the most optimal design criteria for the equipment and processing at the Sangdong plant.”

The installation of Metso’s semi-autogenous grinding (SAG) mill and ball mill is critical to enabling efficient and precise processing of tungsten ore. These state-of-the-art machines will ensure the ore meets exact specifications for downstream processing, boosting the operational capabilities of one of the largest high-grade tungsten deposits in the world. Once operational, the Sangdong mine will be a key supplier in diversifying global tungsten sources, reducing reliance on Chinese-controlled supply chains.

Key Aspects of the Project:

Comprehensive Installation Expertise: Metso will manage every stage of the ball mill installation, including site preparation, equipment assembly, precise alignment, and commissioning. Furthermore, Metso emphasized the critical importance of aligning the machinery to exacting tolerances, limiting deviations to just 0.008 mm/m. This precision ensures maximum operational stability and extends the equipment's longevity.

Focus on Safety and Compliance: The team will adhere to rigorous safety protocols and comply with local and international mining standards to ensure the safety of personnel and the surrounding environment throughout the project.

Advanced Technology and Techniques: Using cutting-edge technology and methods, the installation will be executed efficiently, minimizing disruptions and ensuring optimal performance. Metso stressed the critical importance of performing bolt tension tests, stress analyses, and meticulously following its proprietary installation manuals at every stage. These actions are fundamental to guaranteeing long-term operational reliability and performance.

Significance of Sangdong for Global Tungsten Supply

China controls more than 80% of the global tungsten market, but the Sangdong mine marks a diversification of the global tungsten supply. With these installations, the mine is poised to provide a stable, independent supply of tungsten to industries ranging from defense to advanced manufacturing, where the mineral plays an indispensable role.

Almonty CEO Lewis Black commented, “This milestone underscores our commitment to bringing Sangdong online as a world-class source of tungsten. We are grateful for Metso’s expertise and partnership in this critical phase of the project, which reinforces our mission to reshape global supply dynamics for this essential material.”

About the Installation Process

Metso’s equipment, designed for durability and precision, is the cornerstone of the Sangdong processing plant. Installation will be completed shortly, ensuring alignment with the project’s overall timeline. In addition to overseeing installation, Metso will share its expertise with local teams to maintain and optimize the equipment, ensuring long-term operational reliability. With Sangdong nearing operational status, Almonty’s efforts are a testament to the importance of building diversified critical mineral supply chains. As global demand for tungsten continues to rise, this mine will play a central role in meeting the needs of industries worldwide while reducing dependency on Chinese exports.

About Almonty

Almonty Industries Inc., based in Toronto, Canada, is a leader in tungsten mining, processing, and shipping with projects in Spain, Portugal, and South Korea. The Company’s Sangdong Mine in South Korea is one of the world’s most substantial and high-grade tungsten deposits outside of China. Almonty is also developing the Valtreixal tin/tungsten project in Spain. For further information, please visit www.almonty.com or www.sedarplus.ca

The release, publication or distribution of this announcement in certain jurisdictions may be restricted by law and therefore persons in such jurisdictions into which this announcement is released, published or distributed should inform themselves about and observe such restrictions.

Neither the TSX nor its Regulation Services Provider (as that term is defined in the policies of the TSX) accepts responsibility for the adequacy or accuracy of this release.

Disclaimer for Forward-Looking Information

When used in this press release, the words “estimate”, “project”, “belief”, “anticipate”, “intend”, “expect”, “plan”, “predict”, “may” or “should” and the negative of these words or such variations thereon or comparable terminology are intended to identify forward-looking statements and information. These statements and information are based on management’s beliefs, estimates and opinions on the date that statements are made and reflect Almonty’s current expectations.

Forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Almonty to be materially different from those expressed or implied by such forward-looking statements, including but not limited to: any specific risks relating to fluctuations in the price of ammonium para tungstate (“APT”) from which the sale price of Almonty’s tungsten concentrate is derived, actual results of mining and exploration activities, environmental, economic and political risks of the jurisdictions in which Almonty’s operations are located and changes in project parameters as plans continue to be refined, forecasts and assessments relating to Almonty’s business, credit and liquidity risks, hedging risk, competition in the mining industry, risks related to the market price of Almonty’s shares, the ability of Almonty to retain key management employees or procure the services of skilled and experienced personnel, risks related to claims and legal proceedings against Almonty and any of its operating mines, risks relating to unknown defects and impairments, risks related to the adequacy of internal control over financial reporting, risks related to governmental regulations, including environmental regulations, risks related to international operations of Almonty, risks relating to exploration, development and operations at Almonty’s tungsten mines, the ability of Almonty to obtain and maintain necessary permits, the ability of Almonty to comply with applicable laws, regulations and permitting requirements, lack of suitable infrastructure and employees to support Almonty’s mining operations, uncertainty in the accuracy of mineral reserves and mineral resources estimates, production estimates from Almonty’s mining operations, inability to replace and expand mineral reserves, uncertainties related to title and indigenous rights with respect to mineral properties owned directly or indirectly by Almonty, the ability of Almonty to obtain adequate financing, the ability of Almonty to complete permitting, construction, development and expansion, challenges related to global financial conditions, risks related to future sales or issuance of equity securities, differences in the interpretation or application of tax laws and regulations or accounting policies and rules and acceptance of the TSX of the listing of Almonty shares on the TSX.

Forward-looking statements are based on assumptions management believes to be reasonable, including but not limited to, no material adverse change in the market price of ammonium para tungstate (APT), the continuing ability to fund or obtain funding for outstanding commitments, expectations regarding the resolution of legal and tax matters, no negative change to applicable laws, the ability to secure local contractors, employees and assistance as and when required and on reasonable terms, and such other assumptions and factors as are set out herein. Although Almonty has attempted to identify important factors that could cause actual results, level of activity, performance or achievements to differ materially from those contained in forward-looking statements, there may be other factors that cause results, level of activity, performance or achievements not to be as anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate and even if events or results described in the forward-looking statements are realized or substantially realized, there can be no assurance that they will have the expected consequences to, or effects on, Almonty. Accordingly, readers should not place undue reliance on forward-looking statements and are cautioned that actual outcomes may vary.

Investors are cautioned against attributing undue certainty to forward-looking statements. Almonty cautions that the foregoing list of material factors is not exhaustive. When relying on Almonty’s forward-looking statements and information to make decisions, investors and others should carefully consider the foregoing factors and other uncertainties and potential events.

Almonty has also assumed that material factors will not cause any forward-looking statements and information to differ materially from actual results or events. However, the list of these factors is not exhaustive and is subject to change and there can be no assurance that such assumptions will reflect the actual outcome of such items or factors.

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.

Lewis Black, Chairman, President, and CEO Telephone: +1 647 438-9766 Email: info@almonty.com

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