Ares Strategic Mining Inc. (CSE: ARS) (OTCQX: ARSMF) (FRA: N8I1) announced a strategic evolution of its Board of Directors as the company advances toward operational maturity and a planned transition to a senior U.S. exchange. The company appointed Lorenzo Esteva, a senior financial and international business executive with more than 30 years of experience, to its board.
Esteva brings expertise from senior leadership roles at UBS Financial Services, Merrill Lynch, Prospero International, and Golden Ratio CS LLC. His background includes institutional and private capital markets, corporate restructuring, international business expansion, strategic partnerships, and ultra-high-net-worth client advisory. He graduated with honors from Tufts University with degrees in Economics/Finance and Classical Studies.
“As Ares continues to mature into a larger and more institutionally focused company, it is essential that our Board evolves alongside it,” said James Walker, President and CEO of Ares Strategic Mining. “Lorenzo brings an exceptional combination of banking, corporate finance, restructuring, and international commercial expertise that will be invaluable as we continue scaling operations, expanding internationally, and preparing for the next level of public market participation.”
The board transition reflects Ares’ evolution from a development-stage mining company into an emerging strategic materials supplier with active mining operations, expanding processing infrastructure, major U.S. government contracts, and increasing international commercial opportunities. The company is also pursuing uplisting initiatives. Esteva’s appointment is expected to strengthen institutional market readiness, banking and financial relationships, commercial structuring capabilities, and strategic growth planning.
As part of the transition, Paul Sarjeant and Raul Sanabria have stepped down from the board. The company thanked them for their contributions during its formative stages and its advancement toward becoming the only domestic fluorspar producer in the United States.
Ares Strategic Mining is focused on developing its fluorspar projects in the U.S., aiming to become a significant supplier of high-grade fluorspar to North American markets. Its flagship Lost Sheep Fluorspar Project in Delta, Utah, spans 5,982 acres with 353 claims and is fully permitted. A NI 43-101 technical report identified extensive high-grade fluorspar with low impurity levels. The mining plan was first approved by the Bureau of Land Management in 1992 and renewed in 2016.
The appointment comes as Ares seeks to engage more deeply with U.S. institutional, commercial, and financial markets. “Ares is entering a transformative period,” Walker added. “Our operational progress, strategic government relationships, and expanding market position require a board with deep commercial and financial expertise capable of supporting a company operating at a much larger scale.”
The forward-looking statements in this release involve risks and uncertainties, and actual results may differ materially from those anticipated. The company disclaims any intention to update such information except as required by law.
