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 Lorenzo Esteva, a senior financial and international business executive with over 30 years of experience, to the Board of Directors to support Ares' expansion into institutional and commercial markets.
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, 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, and increasing international commercial opportunities. The company is also pursuing planned uplisting initiatives. Mr. Esteva's appointment is expected to strengthen institutional market readiness, banking and financial relationships, commercial structuring capabilities, and strategic growth planning.
As part of this transition, Paul Sarjeant and Raul Sanabria have stepped down from the Board of Directors. The company expressed gratitude for their contributions during Ares' formative growth stages, which included becoming the only domestic fluorspar producer in the United States. The company's flagship asset is the Lost Sheep Fluorspar Project in Delta, Utah, which is fully permitted with an approved mining plan.
Ares Strategic Mining is focused on becoming a significant supplier of high-grade fluorspar to North American markets, supporting industries vital to modern technology and infrastructure. The company continues to advance its operations and strategic initiatives under the leadership of its evolved board.
