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 senior financial and international business executive Lorenzo Esteva to the Board, effective immediately.
Mr. Esteva brings more than 30 years of experience in senior financial, restructuring, wealth management, corporate advisory, and international business roles across the United States and Latin America. His career includes senior leadership positions at UBS Financial Services, Merrill Lynch, Prospero International, and Golden Ratio CS LLC. He has specialized in institutional and private capital markets, corporate restructuring, international business expansion, strategic partnerships, and cross-border finance.
James Walker, President and CEO of Ares Strategic Mining, stated: “As Ares continues to mature into a larger and more institutionally focused company, it is essential that our Board evolves alongside it. 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, increasing international commercial opportunities, and planned uplisting initiatives. Mr. Esteva’s appointment is expected to strengthen the company’s institutional market readiness, banking and financial relationships, commercial structuring capabilities, international business development efforts, and strategic growth planning.
“Ares is entering a transformative period,” added Walker. “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.”
As part of this transition, Paul Sarjeant and Raul Sanabria have stepped down from the Board of Directors. The company thanked both individuals for their contributions during Ares’ formative growth stages and its advancement toward becoming the only domestic fluorspar producer in the United States.
Ares Strategic Mining is focused on the development of its fluorspar projects in the U.S., aiming to become a significant supplier of high-grade fluorspar to North American markets. The company’s Lost Sheep Fluorspar Project in Delta, Utah, encompasses 100% ownership of 5,982 acres with 353 claims, located in the Spor Mountain area approximately 214 km southwest of Salt Lake City. The project is fully permitted, with a NI 43-101 Technical Report identifying extensive high-grade fluorspar with low levels of impurities.
