Company: ALM
Filing Date: 2025-07-07
Form Type: F-10
Source: 0001641172-25-017947
Chunk: 41

Company: Almonty Industries Inc.
Filing Date: 2025-07-07
Form: F-10
Chunk 41
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in mining operations may be required to compensate those suffering loss or damage by reason of the mining activities and may be liable
for civil or criminal fines or penalties imposed for violations of applicable laws or regulations. The Company cannot give any assurances
that such notices, notices received in the future or other regulatory actions will not result in material fines or require or otherwise
result in the Company taking actions that have a material effect on its business, financial conditions or results of operations.

Amendments to current
laws, regulations and permitting requirements, or more stringent application of existing laws, could have a material adverse effect on
Almonty and cause increases in capital expenditures or production costs or reductions in levels of production at producing properties
or require abandonment or delays in development of properties.

In addition, current laws and regulations are
subject to change from time to time. Any change in laws and government regulations or the implementation of new regulations or the modification
of existing regulations affecting the tungsten and the mining industry more generally could require significant expenditures, cause a
reduction in the levels of production, or reduce demand for tungsten and other minerals and increase Almonty’s costs, any of which
may have a material adverse effect on Almonty’s business, financial condition and results of operations. Changes in these regulations
or in their application are beyond the control of Almonty and could adversely affect its operations, business and results of operations.

Licenses and Permits

The Company’s
current and anticipated future operations, including further exploration, development and production activities on the Company’s
properties, require permits from various national, state/provincial and local governmental authorities. The Company may not be able to
obtain all necessary licenses and permits that may be required to carry out exploration, development and mining operations at their projects.
In addition, the grant of required licenses and permits may be delayed for reasons outside the Company’s control. Failure to obtain
such licenses and permits on a timely basis, or failure to comply with the terms of any such licenses and permits that the Company does
obtain, may adversely affect their respective business as the Company would be unable to legally conduct their intended exploration,
development, production of a commercially viable material, processing facility construction or mining work, which may result in increased
costs, delay in activities or the Company losing its interest in its mineral properties.

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Mining companies
must obtain numerous permits, licenses and approvals that strictly regulate environmental, health, safety, access and other matters in
connection with mining.