Ares Strategic Mining Inc. (CSE: ARS) (OTCQX: ARSMF) (FRA: N8I1) announced a strategic evolution of its Board of Directors as the company advances toward its next phase of growth, operational maturity, and planned transition to a senior U.S. exchange. The company appointed Lorenzo Esteva, a senior financial and international business executive with over 30 years of experience, to its Board of Directors.
Mr. Esteva brings extensive experience from senior leadership roles at UBS Financial Services, Merrill Lynch, Prospero International, and Golden Ratio CS LLC. His expertise includes institutional and private capital markets, corporate restructuring, international business expansion, strategic partnerships, and ultra-high-net-worth client advisory. This appointment is expected to strengthen the company's institutional market readiness, banking relationships, commercial structuring capabilities, and strategic growth planning.
James Walker, President and CEO of Ares Strategic Mining, commented: "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, and increasing international commercial opportunities. The company is also pursuing planned uplisting initiatives. Mr. Esteva's appointment is part of this transformation, aligning with the company's need for deep commercial and financial expertise to support operations at a larger scale.
As part of this transition, Paul Sarjeant and Raul Sanabria have stepped down from the Board of Directors. The company expressed gratitude for their commitment and guidance during Ares' formative growth stages and its successful 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. The company's flagship asset is the Lost Sheep Fluorspar Project in Delta, Utah, which is 100% owned and fully permitted, including mining permits. The project has a NI 43-101 Technical Report identifying extensive high-grade fluorspar with low levels of impurities, and its mining plan has been approved by the Bureau of Land Management.
