Company: ALM
Filing Date: 2025-07-07
Form Type: F-10
Source: 0001641172-25-017947
Chunk: 156

Company: Almonty Industries Inc.
Filing Date: 2025-07-07
Form: F-10
Chunk 156
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 Community 
 Relations          |

The relationship
between AKTC and the Sangdong community is strong. AKTC has been an active member of the Sangdong community since 2009. Because of these
strong local connections, public consultation has been undertaken both informally and formally, particularly with the local Sangdong
township and Yeongwol County. Because many members of the workforce are locally based, there is a high degree of awareness and anticipation
of the project coming to fruition.

The site manager
has strong contacts within the Sangdong community and site visits are encouraged for local community members. There has been widespread
support for the Sangdong Mine to date. There has been good local consultation with government staff related to day-to-day issues with
the exploration programme at the Sangdong Mine. The relationship with the surrounding land holders is good.

Discussions between
AKTC and the town of Sangdong are extremely positive, particularly in view of the fact, that the operation will be community-based and
the Sangdong Mine can help support and improve local services. This strategy by AKTC supports the town of Sangdong and Yeongwol County
in establishing long-term regional development plans, with a focus on reversing population decline, increasing employment opportunities,
revitalizing the local economy and providing appropriate support services.

In order to promote
co-prosperity with the local community and implement sustainable ESG management, AKTC is holding regular public information sessions
in Sangdong throughout the Sangdong Mine development planning process. These sessions are intended to enhance the local residents’
understanding of the project and serve as a channel for continuous communication. To foster long-term relationships, AKTC has signed
a memorandum of understanding with high schools in the Yeongwol area to provide employment opportunities for graduates. In addition,
AKTC has been actively engaged in various community activities, including providing annual financial support for the Sangdong High School
baseball team, which was established to prevent the school’s closure. Through these efforts, AKTC continues to build a united and
harmonious relationship with the Sangdong community.

| 106 |

Capital and
Operating Costs

| I) | Direct Costs |

Direct costs have
been allocated as all costs associated with permanent facilities. These include mine development openings, equipment and material costs,
as well as construction and installation costs.

Mine infrastructure
costs are those associated with maintenance shops, mine dewatering, refuge stations, etc. Wherever possible, equipment and materials’
quotes and contractor installation costs