Company: ALM
Filing Date: 2025-07-07
Form Type: F-10
Source: 0001641172-25-017947
Chunk: 94

Company: Almonty Industries Inc.
Filing Date: 2025-07-07
Form: F-10
Chunk 94
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. The foregoing is consistent with the laws, customs, and practices in Canada.         
 Following the Domestication, the quorum requirement be increased to 33.33% of the outstanding     
 Common Shares as new by-laws of the Company will become effective.                                |

| 53 |

Executive Compensation

Detailed information
concerning the compensation of our executive officers and directors for the fiscal year ended December 31, 2024 is contained in
pages 35 to 50 of our Management Information Circular dated March 21, 2025 and filed on March 26, 2025, prepared for the purposes of
the annual general and special meeting of the shareholders of the Company held on April 30, 2025, which is incorporated by reference
in this prospectus. See “Documents Incorporated by Reference”.

<div align='center'>MINERAL PROJECTS</div>

Material Mineral
Project

The following summarizes
the general characteristics of the Sangdong Mine, which are further detailed in the Technical Report (as hereinafter defined). Scientific
and technical information contained in this prospectus relating to the Sangdong Mine and the Technical Report is based upon information
prepared by or under the supervision of, or approved by, the Qualified Person, and such scientific and technical information is
included in this prospectus with the consent of the Qualified Person.

After reassessing
its mineral projects in light of its current business strategy, the Company has determined that the Sangdong Mine is currently its only
material mineral project for the purposes of NI 43-101. This mineral project is currently the main focus of the Company and the
Company anticipates it will devote the majority of its resources on the development of this property in the coming years.

The Company is
also involved in the operation and development of smaller mineral projects. See “Mineral Projects—Other Mineral Projects”.

Sangdong
Mine

Current Technical
Report

The most recent technical
report on the Sangdong Mine (the “Technical Report”) is entitled “NI 43-101 Technical Report on the Mineral
Resources and Reserves of the Sangdong Project, South Korea”, dated June 23, 2025 and effective February 28, 2025, authored by
Adam Wheeler, B.Sc, M.Sc, C. Eng. (the “Qualified Person”), a “qualified person” within the meaning
of NI 43-101, and filed in accordance with NI 43-101. The Technical Report has been filed on SEDAR+