Company: ALM
Filing Date: 2025-07-11
Form Type: F-10/A
Source: 0001641172-25-018741
Chunk: 150

Company: Almonty Industries Inc.
Filing Date: 2025-07-11
Form: F-10/A
Chunk 150
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 used, includes
the access road to the site; site roads; powerline and stepdown sub-station; potable water supply; and communications and Internet service.
It also includes some old KTMC buildings that will be reused and the KTMC slope support at the zone of the plant and water treatment
plant.

In the mine, there
is an extensive infrastructure that can be reused, which includes:

| ● | West Ventilation Shaft. This                                                                     
 connects the surface to all mine levels until the -10 level and then through raises down         
 to the -16 level. This shaft has two top openings (one inclined and another vertical) and        
 all of them are ventilating. This shaft was inspected from surface to the -1 level and is        
 in perfect condition.                                                                            |
| ● | Old Vertical Extraction Shaft.                                                                   
 This concrete lined shaft, of 4 m diameter, is currently being used for ventilation in between   
 the Baegun and -1 levels. It gives access to the water stored in the mine down to the -16 level. 
 This shaft is in very good condition and could be considered for hoisting use in the latter      
 phases of the mine exploitation.                                                                 |
| ● | Gallery Network. An extensive                                                                    
 network of old base galleries can be used for multiple purposes, which include escape routes,    
 ventilation and drainage.                                                                        |
| ● | Mined Stopes. Extensive mined                                                                    
 stopes can be used for backfill storage.                                                         |
| ● | Drainage system, on the -1                                                                       
 level.                                                                                           |
| ● | Ramp System. This connects                                                                       
 Sangdong level with the -16 level. Dependent of its conditions below the -1 level, and following 
 mine dewatering, this could allow access to the lower levels for exploration drilling access.    |

To return the Sangdong
Mine to operation, the existing Sangdong infrastructure will be reconfigured and supplemented by new facilities as required. To accommodate
the new waste storage facility, the former buildings at the Sangdong portal level were demolished to allow for placement of waste from
mine development. New site infrastructure is being built in the valley, on the footprint of old KTMC installations (see Figure 18-1 below).
This infrastructure will include a new assay laboratory, warehouse, maintenance shop, recreational facilities for employees, fuel storage
and water reticulation system. The mine backfill plant will be placed at Taebaek Terrace, along with a geotechnical laboratory.

A new mine