Company: ALM
Filing Date: 2025-07-07
Form Type: F-10
Source: 0001641172-25-017947
Chunk: 47

Company: Almonty Industries Inc.
Filing Date: 2025-07-07
Form: F-10
Chunk 47
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 tension between North and South Korea
has fluctuated and may increase or change abruptly because of current and future events. In recent years, there have been heightened
security concerns stemming from North Korea’s nuclear weapons and long-range missile programs and increased uncertainty regarding
North Korea’s actions, particularly considering the recent leadership change, and possible responses from the international community.
Tensions have escalated on the Korean peninsula, and there can be no assurance that the level of tension will not escalate further in
the future. Any further increase in tensions, which may occur, for example, if military hostilities occur or North Korea experiences
a leadership or economic crisis, could have a material adverse effect on the Company’s operations and the market value of its Common
Shares.

Furthermore, there
can be no assurance that the political and economic policies of neighbouring countries, including China, Russia and North Korea, in relation
to South Korea, will not have adverse economic effects on the development of the Company’s mining projects, including its
ability to access power, transport (including across borders) and sell its products and access construction labour, supplies and materials.

Failure to comply
strictly with applicable laws, regulations, and local practices relating to mineral rights applications and tenure could also result
in substantial fines, loss, reduction, or expropriation of entitlements. While we operate in politically stable regions, the mining industry
is inherently exposed to these risks, which could impact profitability or delay projects.

Public Allegations, Regulatory Investigations
or Litigation

The Company at one
time conducted exploration and mining operations in a number of jurisdictions and, as a result of such activities and operations or current
or future activities and operations, may be subject to governmental or regulatory investigations and claims in or regarding those jurisdictions,
including jurisdictions in which it is not currently active. A serious allegation, formal investigation by regulatory authorities or
other legal claim (in each case, regardless of the ultimate decision) could have a material adverse impact on the Company, its reputation
and its share price.

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All industries,
including the mining industry, are subject to legal claims, with and without merit. The Company has in the past and may in the future
be involved in various legal proceedings. The causes of potential future litigation cannot be known and may arise from, among other things,
business activities, environmental laws, volatility in stock price or failure or alleged failure to comply with disclosure obligations.
The Company may be required to defend against any such public allegations, regulatory investigations or other claims that are asserted