Almonty Industries Inc. today is pleased to announce an update in relation to the proposed nano tungsten oxide downstream processing plant.

Almonty Industries Inc. today is pleased to announce an operational and financing update in relation to its Sangdong Tungsten Mine, which is currently under construction in South Korea.

The ball mill and sag mill base plates have arrived into South Korea from Metso in Turkey. The mill liners will also be arriving from India in the next few weeks. This order was placed with Metso in January 2021, and marks a turning point at Almonty’s Sangdong project.

Almonty Industries Inc. today announced receipt of the first drawdown of US$12,818,081 on the KfW-IBEX Bank US$75.1 million project financing loan facility.

Almonty is pleased to announce a maiden JORC 2012-compliant Inferred Mineral Resource Estimate (MRE) of 21.48Mt @ 0.26% MoS2 at the 0.19% MoS2 reporting cut-off for the Almonty Korea Moly Project, which is located on the existing Sangdong Tungsten Mine currently under construction in South Korea.

Almonty Industries is pleased to announce it has received from KfW-IPEX Bank the fully executed utilization request for the first drawdown of US$12.8M from the US$75.1M facility. The mortgage registration has now commenced in South Korea and, upon completion, the first drawdown funds will be sent to Almonty.

Almonty Industries is pleased to announce the closing of a private placement of 2,494,118 Chess Depository Interests (“CDIs”) at A$0.85 per CDI to raise gross proceeds of A$2.12 million (“Placement”) with the Company’s third largest shareholder Deutsche Rohstoff.

Almonty Industries Inc. is pleased to announce the closing of its private placement to Directors of Almonty, existing shareholders and other insiders of 2,852,251 common shares at CDN$0.94 per share and 1,428,571 Units at US$0.70 per Unit to raise gross proceeds of approximately US$3.3 million (“Placement”).