Company: ALM
Filing Date: 2025-07-07
Form Type: F-10
Source: 0001641172-25-017947
Chunk: 142

Company: Almonty Industries Inc.
Filing Date: 2025-07-07
Form: F-10
Chunk 142
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 can then be developed,
with one sidewall being ore, and the other sidewall being the backfill from the mining of the previous lift.

For the F2/F3 stoping
areas, this stoping cycle will be repeated for generally three lifts from the same stope access crosscut. For the next lift, a new stope
access crosscut will be developed from the stope ramp, approximately 35 m along-strike from the previous crosscut. In areas of the south
zone, when the Halo zone also occurs between the F2 and F3 zones, this can give up to six available faces on the same stope lift.

For the Main East
zone, which has a much more limited strike extent, of approximately 215 m, different stope ramps have been designed to provide stope
access crosscuts into the central area of the stoping zone. These stope access crosscuts have often been designed with a downward gradient,
to a maximum of 13%. This will allow repetitive roof slashing of the stope ramps, so as to provide more stope access on progressive 2m
lifts. Much better recoveries are attainable by using DAF in the Main East zone. The advantages of this DAF mining method include:

| ● | High mining recoveries (minimal                              
 loss in ore pillars).                                        |
| ● | High productivities, as multiple                             
 primary panels can be accessed simultaneously.               |
| ● | Flexibility, with changes possible                           
 in panels due to variations in orebody geometry or faulting. |

| 96 |

In some very few
localized areas, the bed thickness can be more than 6 m, particularly in the Main East zone, and occasionally up to 8 m. In these parts
the first lower part of these panels can be mined out with a 3 m height and then backfilled. Short stope ramps will then be created longitudinally,
and upper panels will then be mined out with inclined roofs at top orebody contact.

| II) | Post-Pillar Cut-and-Fill |

This method has been
designed in those areas which generally have a vertical thickness greater than 5 m, which is the majority of the HW zone. Broadly, these
zones will be mined from the bottom-up in 6 m vertical lifts. Each lift will be mined out according to a regular mine-wide grid of 6
m wide stoping panels, leaving non-recoverable 5 m x 5 m post-pillars