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TORONTO--(BUSINESS WIRE)--Almonty Industries Inc. (Almonty) (TSX: AII / OTCQX: ALMTF / Frankfurt: ALI.F) is pleased to announce that the maturity dates for approximately $54.1 M of all its debt facilities have been extended. The bulk of this $54.1m is now maturing end of Q4 2023. The existing terms for all of the $54.1 M debt facilities have remained the same as they were previously which are interest only balloon facilities. The Company is also pleased to announce the appointment of JH Kim as our CFO at Almonty Korea Tungsten, the Companys wholly-owned subsidiary in South Korea. Mr Kim has over 16 years experience as finance manager for the global manufacturing company Honeywell Korea and Honeywell Analytics Asia Pacific. Almontys Chairman, President and CEO Lewis Black commented: As the final step prior to the financial closing of our Sangdong project, we have now successfully extended our long-term debt. This has significantly strengthened our balance sheet and prepares the Company for the next stage of its development. It also is an important step towards our ASX listing but most importantly, it is a blanket endorsement of the Company by all of our lenders who have been integral to get the Company to this point. The fact that they are prepared to extend maturities so far out past the commissioning of Sangdong with no change in the lending conditions demonstrates their absolute confidence in the Companys outlook going forward. I would also like to welcome JH to the Company as our newly installed CFO for Almonty Korea Tungsten. As previously stated, the Company continues to transition its team more toward Korea and JH brings a wealth of experience from his time at Honeywell. Given that construction and then operations will commence shortly, it is important to continue to strengthen the team in Korea as Almonty Industries transitions into a much more Korean focused entity. 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, 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 Almontys activities may be found at www.almonty.com and under Almontys SEDAR profile at www.sedar.com. Legal Notice The release, publication or distribution of this announcement in certain jurisdictions may be restricted by law and therefore persons in such jurisdictions into which this announcement is released, published or distributed should inform themselves about and observe such restrictions. Neither TSX nor its Regulation Services Provider (as that term is defined in the policies of the TSX) accepts responsibility for the adequacy or accuracy of this release. Disclaimer for Forward-Looking Information When used in this press release, the words estimate, project, belief, anticipate, intend, expect, plan, predict, may or should and the negative of these words or such variations thereon or comparable terminology are intended to identify forward-looking statements and information. This press release contains forward-looking statements. These statements and information are based on managements beliefs, estimates and opinions on the date that statements are made and reflect Almontys current expectations. Forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Almonty to be materially different from those expressed or implied by such forward-looking statements, including but not limited to: any specific risks relating to fluctuations in the price of ammonium para tungstate from which the sale price of Almontys tungsten concentrate is derived, actual results of mining and exploration activities, environmental, economic and political risks of the jurisdictions in which Almontys operations are located and changes in project parameters as plans continue to be refined, forecasts and assessments relating to Almontys business, credit and liquidity risks, hedging risk, competition in the mining industry, risks related to the market price of Almontys shares, the ability of Almonty to retain key management employees or procure the services of skilled and experienced personnel, risks related to claims and legal proceedings against Almonty and any of its operating mines, risks relating to unknown defects and impairments, risks related to the adequacy of internal control over financial reporting, risks related to governmental regulations, including environmental regulations, risks related to international operations of Almonty, risks relating to exploration, development and operations at Almontys tungsten mines, the ability of Almonty to obtain and maintain necessary permits, the ability of Almonty to comply with applicable laws, regulations and permitting requirements, lack of suitable infrastructure and employees to support Almontys mining operations, uncertainty in the accuracy of mineral reserves and mineral resources estimates, production estimates from Almontys mining operations, inability to replace and expand mineral reserves, uncertainties related to title and indigenous rights with respect to mineral properties owned directly or indirectly by Almonty, the ability of Almonty to obtain adequate financing, the ability of Almonty to complete permitting, construction, development and expansion, challenges related to global financial conditions, risks related to future sales or issuance of equity securities, differences in the interpretation or application of tax laws and regulations or accounting policies and rules and acceptance of the TSX of the listing of Almonty shares on the TSX. Forward-looking statements are based on assumptions management believes to be reasonable, including but not limited to, no material adverse change in the market price of ammonium para tungstate, the continuing ability to fund or obtain funding for outstanding commitments, expectations regarding the resolution of legal and tax matters, no negative change to applicable laws, the ability to secure local contractors, employees and assistance as and when required and on reasonable terms, and such other assumptions and factors as are set out herein. Although Almonty has attempted to identify important factors that could cause actual results, level of activity, performance or achievements to differ materially from those contained in forward-looking statements, there may be other factors that cause results, level of activity, performance or achievements not to be as anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate and even if events or results described in the forward-looking statements are realized or substantially realized, there can be no assurance that they will have the expected consequences to, or effects on, Almonty. Accordingly, readers should not place undue reliance on forward-looking statements and are cautioned that actual outcomes may vary. Investors are cautioned against attributing undue certainty to forward-looking statements. Almonty cautions that the foregoing list of material factors is not exhaustive. When relying on Almontys forward-looking statements and information to make decisions, investors and others should carefully consider the foregoing factors and other uncertainties and potential events. Almonty has also assumed that material factors will not cause any forward-looking statements and information to differ materially from actual results or events. However, the list of these factors is not exhaustive and is subject to change and there can be no assurance that such assumptions will reflect the actual outcome of such items or factors. THE FORWARD-LOOKING INFORMATION CONTAINED IN THIS PRESS RELEASE REPRESENTS THE EXPECTATIONS OF ALMONTY AS OF THE DATE OF THIS PRESS RELEASE AND, ACCORDINGLY, IS SUBJECT TO CHANGE AFTER SUCH DATE. READERS SHOULD NOT PLACE UNDUE IMPORTANCE ON FORWARD-LOOKING INFORMATION AND SHOULD NOT RELY UPON THIS INFORMATION AS OF ANY OTHER DATE. WHILE ALMONTY MAY ELECT TO, IT DOES NOT UNDERTAKE TO UPDATE THIS INFORMATION AT ANY PARTICULAR TIME EXCEPT AS REQUIRED IN ACCORDANCE WITH APPLICABLE LAWS.

Answer: Almonty Industries Inc. Announces That the Maturity Dates of Long-term Debt Totalling $54.1m Have Now Been Successfully Extended to Comfortably Past the Commissioning Date of the Sangdong Tungsten Project in Korea In Addition, Almonty Announces the Appointment of a CFO in Korea