Company: ALM
Filing Date: 2025-07-11
Form Type: F-10/A
Source: 0001641172-25-018741
Chunk: 90

Company: Almonty Industries Inc.
Filing Date: 2025-07-11
Form: F-10/A
Chunk 90
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 least one director must be a resident Canadian).

Mr. Black is currently
the Chairman of the Board. Mr. Trachuk is currently the lead director of the Board.

Director
Independence

The Board has determined
that six of the eight members of the Board are “independent,” as defined under the NASDAQ rules and for purposes of Canadian
securities laws and therefore, a majority of the directors on our Board is independent. For purposes of the NASDAQ rules, an independent
director means a person other than an executive officer or employee of the Company or any other individual having a relationship which,
in the opinion of the Board, would interfere with the exercise of independent judgment in carrying out the responsibilities of a director,
subject to certain additional limitations. A director is considered to be independent for the purposes of Canadian securities laws if
the director has no direct or indirect material relationship to the Company. A material relationship is a relationship that could, in
the view of the Board, be reasonably expected to interfere with the exercise of a director’s independent judgment. Certain individuals,
such as our employees and executive officers, are deemed by Canadian securities laws to have material relationships with us.

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Mr. Black is not independent
of the Company by virtue of his role as Chief Executive Officer of the Company. Mr. D’Amato is not independent by virtue of the
fact that he received US$180,000 ($246,294) from the Company for consulting fees for the most recently completed fiscal year ended
December 31, 2024.

Board
of Directors’ Charter

The fundamental responsibility
of our Board is to appoint a competent executive team and to oversee the management of our business, with a view to the best interests
of the Company (including maximizing shareholder value) and ensuring corporate conduct in an ethical and legal manner through an appropriate
system of corporate governance and internal control. Our Board has adopted a charter to assist it in supervising the management of our
business and affairs.

Orientation
and Continuing Education

The Nomination, Compensation
and Corporate Governance Committee (the “NCCG Committee”) is responsible for the orientation and continuing education
of the Company’s directors. Its charter mandates the development and annual review of programs for new director orientation and
ongoing education for existing directors. For orientation, the NCCG Committee uses informal programs tailored to the new director’s
needs and the Board’s requirements at the time. These programs ensure new directors are familiar with the Company’s business,
procedures,