Company: ALM
Filing Date: 2025-10-31
Form Type: F-10/A
Source: 0001493152-25-020439
Chunk: 40

Company: Almonty Industries Inc.
Filing Date: 2025-10-31
Form: F-10/A
Chunk 40
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 that, under the securities legislation of certain provinces of Canada, if the purchaser pays additional amounts upon conversion, exchange or exercise of such Securities, those amounts may not be recoverable under the statutory right of action for damages that applies in those provinces. The purchaser should refer to any applicable provisions of the securities legislation of the purchaser’s province for the particulars of this right of action for damages or consult with a legal advisor.

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<div align='center'>CERTIFICATE OF THE COMPANY</div>

Dated: October 31, 2025

This short form base shelf prospectus, together with the documents incorporated in this prospectus by reference, will, as of the date of the last supplement to this prospectus relating to the securities offered by this prospectus and the supplement(s), constitute full, true and plain disclosure of all material facts relating to the securities offered by this prospectus and the supplement(s) as required by the securities legislation of Ontario, British Columbia and Alberta.

| (Signed) Lewis Black                            |     | (Signed) Brian Fox      |
| Chairman, President and Chief Executive Officer |     | Chief Financial Officer |

<div align='center'>On Behalf of the Board of Directors</div>

| (Signed) Mark Trachuk |     | (Signed) David Hanick |
| Lead Director         |     | Director              |

| C-1 |

<div align='center'>PART II

INFORMATION NOT REQUIRED TO BE DELIVERED TO OFFEREES OR PURCHASERS</div>

Limitations on Liability and Indemnification of Directors and Officers.

Under the Canada Business Corporations Act (the “ CBCA”), we may indemnify our current or former directors or officers or another individual who acts or acted at our request as a director or officer, or an individual acting in a similar capacity, of another entity, against all costs, charges and expenses, including an amount paid to settle an action or satisfy a judgment, reasonably incurred by the individual in respect of any civil, criminal, administrative, investigative or other proceeding in which the individual is involved because of his or her association with us or another entity. The CBCA also provides that we may advance moneys to a director, officer or other individual for costs, charges and expenses reasonably incurred in connection with such a proceeding; provided that such individual shall repay the moneys if the individual does not fulfill the conditions described below.

However, indemnification is prohibited under the CBCA unless the individual:

| ● | acted                                                                                                                               
 honestly and