Company: ALM
Filing Date: 2025-07-11
Form Type: F-10/A
Source: 0001641172-25-018741
Chunk: 119

Company: Almonty Industries Inc.
Filing Date: 2025-07-11
Form: F-10/A
Chunk 119
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, or BQ core from 3 Kempe pneumatic screwdrive open hole core rigs. Orientations
vary based on access and the need to intersect all three ore horizons. Conical drilling patterns are common as a result of fanning out
in all directions from the underground drilling platforms. Collar locations were surveyed using a Leica 1203 (total station with sub-decimetre
accuracy). Downhole surveys were conducted approximately at the end of hole, as the majority of holes are less than 30 m in length. A
Camteq™ multiple shot camera was used, with a stated accuracy of ± 0.5° on azimuth and ± 0.2° on dip. The
downhole camera was routinely calibrated to ensure maximum performance, using a purpose designed jig.

| 3. | 2016 Drilling Programme |

AKTC have completed
a Phase 7 underground drilling campaign in 2016. This was focused in improving the resource categorization of the HW Zone (allowing some
conversion of Inferred to Indicated Mineral Resources) and consisted of 20 holes, drilling just over a 1,000 m in total.

| IV) | Drilling Summary |

All of the recorded
drillholes at Sangdong are summarized in Table 10-2.

<div align='center'>Table 10-2 – Summary of Sangdong Drilling

[Date: 2016, Source: A. Wheeler]</div>

| 72 |

| V) | Drilling Results |

Table 10-3 below
summarizes the mineralized intersections from the drilling programmes completed between 2012 and 2014.

<div align='center'>Table 10-3 – Summary of Mineralized Intersections from Drilling 2012 – 2014</div>

Sampling,
Analysis and Data Verification

| I) | Sample Preparation |

An overall summary
of quality control samples taken during drilling campaigns from 2010 onwards is shown in Table 11-1 below.

<div align='center'>Table 11-1 – Summary of Quality Control Samples</div>

Sample preparation
from core to pulps for analysis is completed on site. Core is sawed in half, half placed in a plastic sample bag and half replaced in
the core box for archival storage. Sample tags are placed in the core box and in the sample bag and the sample number is written on the
sample bag as well. Standards are placed into the sample stream at this point in the sampling