Sangdong Downstream Extension Project Progressing - Seite 2

As for the recent stock activity, I want assure all shareholders that the Company is on track, and we will make the third utilisation request shortly to KFW. We are aware of some unusually aggressive selling from a European based individual/group who is not part of our core group.

So as we now enter our next phase of our growth I would like to share with all shareholders a Tungsten fact. There is 1.4kgs of Tungsten used in the manufacturing or contained in every new EV. This is expected to increase to closer to 2kgs over the next three years as electrical components develop and could top out at 2.5kgs as tungsten-based cathode coatings in lithium-ion batteries are introduced.”

About Almonty

The principal business of Toronto, Canada-based Almonty Industries Inc. is the mining, processing and shipping of tungsten concentrate from its Los Santos Mine in western Spain and its Panasqueira mine in Portugal as well as the development of its Sangdong tungsten mine in Gangwon Province, South Korea and the development of the Valtreixal tin/tungsten project in north western Spain. The Los Santos Mine was acquired by Almonty in September 2011 and is located approximately 50 kilometres from Salamanca in western Spain and produces tungsten concentrate. The Panasqueira mine, which has been in production since 1896, is located approximately 260 kilometres northeast of Lisbon, Portugal, was acquired in January 2016 and produces tungsten concentrate. The Sangdong mine, which was historically one of the largest tungsten mines in the world and one of the few long-life, high-grade tungsten deposits outside of China, was acquired in September 2015 through the acquisition of a 100% interest in Woulfe Mining Corp. Almonty owns 100% of the Valtreixal tin-tungsten project in north- western Spain. Further information about Almonty’s activities may be found at www.almonty.com and under Almonty’s profile at www.sedar.com.

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