Company: ALM
Filing Date: 2025-07-11
Form Type: F-10/A
Source: 0001641172-25-018741
Chunk: 98

Company: Almonty Industries Inc.
Filing Date: 2025-07-11
Form: F-10/A
Chunk 98
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dong Project: Mining Rights Areas</div>

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<div align='center'>Table 4-1 – Sangdong Project – Mining Rights’ Details</div>

Note:

* AKTC received a 20-year extension for License No. 74978 on May 13, 2025.

The existing exploration
and mining permits cover all the active exploration and mining areas encompassing the Sangdong Mine. The exploration permits provide
the right to carry out all contemplated exploration activities with no additional permitting required. Exploration permits are subject
to exploration rights usage fees (a fixed annual charge) and applicable taxes. The mining permits give the right to carry out full mining
and mineral processing operations in conjunction with safety and environmental certificates.

Approval for installation
of mining facilities (Sangdong Portal, Woulfe Portal, Taebaek Portal, Baegun Portal and nearby quartzite mine) have been issued by East
Mine Registration Office of the Ministry of Trade, Industry & Energy. Environmental certificates (Temporary Forest Land Use) have
been issued by the Department of Environmental Forest of Yeongwol County.

Surface rights for
mining purposes are not included in the Sangdong Mine’s permits, but AKTC have leased some of the land used for mining and processing
plant activities by effecting payment of a purchase fee based on the appraised value of the land. The rest of the necessary lands for
mining, waste disposal and processing plant activities (processing plant, offices and accommodations, etc.) were guaranteed by Yeongwol
County, through written official documentation. The expiration date of the site leased from Yeongwol County is December 31, 2025, and
it is expected to be extended by approximately 3 to 5 years.

South Korea has an
established Mining Industry Act which defines the mining rights guaranteed by the government of South Korea.

Except for relatively
small areas in the south in the main river valley and a few small areas of vegetable farms, the Sangdong Mine is on government land.
On government (i.e., non-private) land, an environmental security bond must be lodged. On private land, access must be negotiated with
the individual landowner(s). In the case of mining, there is no formal mediated process for land disturbance, and the purchase or lease
of the surface rights would have to be negotiated with the landowner(s).

There are no royalties,
overrides, back-in rights, payments or other similar agreements or encumbrances to which the Sangdong