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 over 30 years of experience, to the board. Esteva's background includes senior leadership roles at UBS Financial Services, Merrill Lynch, Prospero International, and Golden Ratio CS LLC. His expertise spans 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, said, '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.
Mr. Esteva's appointment is expected to strengthen the company's institutional market readiness, banking and financial relationships, commercial structuring capabilities, 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. The company thanked them for their commitment and guidance during Ares' formative growth stages and its advancement toward becoming the only domestic fluorspar producer in the United States.
Esteva graduated with honors from Tufts University in Boston 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 Lost Sheep Fluorspar Project in Delta, Utah, spans 5,982 acres with 353 claims and is fully permitted, including mining permits. A NI 43-101 Technical Report identified extensive high-grade fluorspar with low levels of impurities, and the mining plan has been approved by the Bureau of Land Management.
