Company: ALM
Filing Date: 2025-07-07
Form Type: F-10
Source: 0001641172-25-017947
Chunk: 140

Company: Almonty Industries Inc.
Filing Date: 2025-07-07
Form: F-10
Chunk 140
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): Applied                                                         
 to thinner ore zones including the F2, Halo, F3, and Main beds. This method uses external     
 stope ramps and stepwise vertical panel lifts of ~2 m to match the ~22° average dip of        
 these beds. It supports high mining recoveries, multiple panel access, and adaptability to    
 local variations in dip and ore geometry. Paste fill is used between stope lifts, with cement 
 content ranging from 1% to 7% depending on stope status.                                      |

| 2. | Post-Pillar Cut-and-Fill (PP-CAF): Applied                                                   
 to thicker zones, predominantly in the Hangingwall horizon, where vertical thickness exceeds 
 5 m. Mining occurs in 6 m lifts, leaving 5 m x 5 m post-pillars in a regular grid to support 
 subsequent operations. This method minimizes internal waste mining and suits the orebody     
 geometry while allowing high productivity and efficient backfill placement.                  |

These mining methods
were selected and designed following geotechnical assessments and are tailored to ensure high recovery and ground stability across varying
bed dips and thicknesses.

| I) | Stepped Drill and 
 Fill              |

Previous DAF designs
made for the FW zones (January 2018) used internal stope ramps, which were developed on apparent dip within each bed. However, this design
test work made clear various disadvantages:

| ● | High dilution with the internal 
 stope ramp itself.              |

| 95 |

| ● | High losses with pillar wall next       
 to stope ramp.                          |
| ● | Very difficult drive intersections      
 with stope ramp, in areas of lower dip. |

In the stepped drift-and-fill
method, single drift-and-fill headings will be extended along strike, close to horizontal, with inclined shanty backs so as to reduce
dilution at the hanging wall contact. DAF headings will be developed with width from 3 m to 6 m. DAF panel lifts will be stepped up in
approximately 2 m vertical intervals, which corresponds with the average 22° degree dip of the F2, F3 and Main beds.

The method will use
external stope ramps, located on the footwall side of the ore zones, approximately 20 m below the bottom bed. Due to the low orebody
dip, this means at any particular elevation, the ramp will be approximately 70 m horizontally to the south of the F3 bed