Company: ALM
Filing Date: 2025-07-11
Form Type: F-10/A
Source: 0001641172-25-018741
Chunk: 42

Company: Almonty Industries Inc.
Filing Date: 2025-07-11
Form: F-10/A
Chunk 42
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 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. Regulatory authorities exercise considerable discretion in whether or not to issue permits, licenses and approvals
and the timing of such issuances. Almonty believes it (or its subsidiaries) presently holds all necessary licenses and permits to carry
on the activities at its mineral properties, and that it is presently complying in all material respects with the terms of such licenses
and permits. Almonty’s properties may be held in the form of permits, licences and leases and working interests in permits, licences
and leases. There can be no guarantee, however, that Almonty or its subsidiaries will be able to obtain and maintain, at all times, all
necessary licences and permits required in connection with its mineral properties or any exploration or development activity or to place
its properties into commercial production and to operate mining facilities thereon. If Almonty or the holder of any such permit, licence
or lease fails to meet the specific requirement of such permit, licence or lease, the