Ares Strategic Mining Inc. (CSE: ARS) (OTCQX: ARSMF) (FRA: N8I1) has 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 of Directors.
Mr. Esteva brings extensive 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, mergers, ultra-high-net-worth client advisory, and cross-border finance. This appointment is intended to support Ares’ continued expansion and increasing engagement with U.S. institutional, commercial, and financial markets.
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, 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 agreed to step down from the Board of Directors. The company thanked both individuals 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.
Mr. Esteva graduated with honors from Tufts University in Boston, MA with degrees in Economics/Finance and Classical Studies. He has worked extensively with institutional investors, family offices, private equity groups, and multinational commercial operations throughout the Americas.
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 flagship asset is the 100% owned Lost Sheep Fluorspar Project in Delta, Utah, covering 5,982 acres with 353 claims. The project is fully permitted, including mining permits, and a NI 43-101 Technical Report identified extensive high-grade fluorspar with low levels of impurities. The mining plan was approved by the Bureau of Land Management, first on August 24, 1992, and renewed on December 12, 2016.
The company’s transition toward a senior U.S. exchange and institutional growth is expected to enhance its ability to secure capital and expand operations. This board evolution positions Ares to better navigate the complexities of becoming a larger-scale strategic materials supplier with significant government contracts and international opportunities.
