Company: ALM
Filing Date: 2025-07-07
Form Type: F-10
Source: 0001641172-25-017947
Chunk: 11

Company: Almonty Industries Inc.
Filing Date: 2025-07-07
Form: F-10
Chunk 11
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 not Mineral Resources do not have demonstrated economic viability.

<div align='center'>MARKET AND
INDUSTRY DATA</div>

Market and industry
data presented throughout this prospectus and/or the documents incorporated by reference herein or therein was obtained from third-party
sources and industry reports and from publications, websites and other publicly available information, as well as industry and other
data prepared by us or on our behalf on the basis of our knowledge of the markets in which we operate, including information provided
by suppliers, partners, customers and other industry participants. We believe that the market and economic data presented throughout
this prospectus and/or the documents incorporated by reference herein or therein is accurate and, with respect to data prepared by us
or on our behalf, that our estimates and assumptions are currently appropriate and reasonable, but there can be no assurance as to the
accuracy or completeness thereof. The accuracy and completeness of the market and economic data presented throughout this prospectus
and/or the documents incorporated by reference herein or therein are not guaranteed and none of us or any of the Underwriters makes any
representation as to the accuracy of such data. Actual outcomes may vary materially from those forecast in such reports or publications,
and the prospect for material variation can be expected to increase as the length of the forecast period increases. Although we believe
it to be reliable, none of us or any of the Underwriters has independently verified any of the data from third-party sources referred
to in this prospectus and/or the documents incorporated by reference herein or therein, analyzed or verified the underlying studies or
surveys relied upon or referred to by such sources, or ascertained the underlying market, economic and other assumptions relied upon
by such sources. Market and economic data is subject to variations and cannot be verified due to limits on the availability and reliability
of data inputs, the voluntary nature of the data-gathering process and other limitations and uncertainties inherent in any statistical
survey, including those discussed under “Cautionary Note Regarding Forward-Looking Statements” and “Risk Factors”.

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<div align='center'>CAUTIONARY
NOTE REGARDING FORWARD-LOOKING STATEMENTS</div>

This prospectus and
the documents incorporated by reference herein contain “forward-looking information” and “forward-looking statements”
within the meaning of applicable Canadian and United States securities legislation (collectively herein referred to as “forward-looking statements”), including the “safe harbour” provisions of provincial securities legislation, the U.S. Private Securities
Litigation Reform Act of