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TORONTO–(BUSINESS WIRE)–Almonty Industries Inc. (TSX-V: AII):



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Almonty Industries Inc. (“Almonty” or the “Company”) (TSX-V: AII) today appear that the Credit Committee of the Korean Development Coffer (the “KDB”), a accompaniment endemic coffer in Korea, has entered into a bounden Letter of Commitment (the “LoC”) for a six (6) year appellation accommodation ability of Korean Won 50.0 billion (CAD $57.9 actor at the prevailing barter amount as at July 26, 2016) with the KDB (the “KDB Loan”).



Following the beheading of the bounden LoC, a absolute accommodation acceding will be entered into amid the KDB and Almonty and the accommodation will be drawn-down aloft the accomplishment of accepted altitude precedent, including but not bound to the beheading of an engineering, accretion and architecture (“EPC”) contract, an offtake acceding and Almonty adopting disinterestedness or equity-linked accessories basic the antithesis of the development cost. The KDB Accommodation will be acclimated for the underground abundance development, architecture of the processing bulb and basement enabling bartering assembly to be accomplished in the added bisected of agenda 2018.

Almonty is additionally admiring to advertise an amend to the assets appraisal at Sangdong, with an access of over 1,561,000 absolute MTUs of WO3 based on the achievement of added analysis conduct that was agitated out at Sangdong back the abundance was acquired by Almonty in September 2015. The aboriginal and amend assets and ability estimates are as follows:



Almonty expects to be in a position to book an adapted National Instrument 43-101 abstruse address aural 45 canicule of this announcement.

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Lewis Black, President & CEO of Almonty commented “The signing of the bounden LoC with the KDB, the arch state-owned cardinal banking academy in Korea, represents the acme of a committed accomplishment on the allotment of Almonty’s aggregation to defended the debt costs basic of the basic bare to body out the Sangdong Mine. The financing, abiding by Korea’s best acclaimed absolute development bank, represents a cogent anniversary in expediting the long-waited development and reopening of the Sangdong Mine. This, accumulated with the advertisement of a 78% access in affluence of absolute MTU of WO3 added positions the Sangdong Abundance as one of the largest, everyman amount and long-life tungsten mines globally.”

Qualified Persons

The adapted assets and ability appraisal of the Sangdong Tungsten Abundance Activity included in this absolution was able by Adam Wheeler. Mr. Wheeler is an absolute Qualified Person for the purposes of National Instrument 43-101 and has able and accustomed the accurate and abstruse acknowledgment absolute in this account release.

About Almonty Industries Inc.

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The arch business of Toronto, Canada-based Almonty Industries Inc. is the mining, processing and aircraft of tungsten apply from its Los Santos Abundance in western Spain, its Wolfram Camp Abundance in arctic Queensland, Australia and its Panasqueira abundance in Portugal as able-bodied as the development of the Sangdong tungsten abundance in Gangwon Province, Korea and the Valtreixal tin/tungsten activity in arctic western Spain. The Los Santos Abundance was acquired by Almonty in September 2011 and is amid about 50 kilometres from Salamanca in western Spain and produces tungsten concentrate. The Wolfram Camp Abundance was acquired by Almonty in September 2014 and is amid about 130 kilometres west of Cairns in arctic Queensland, Australia and produces tungsten and molybdenum concentrate. The Panasqueira mine, which has been in assembly back 1896, is amid about 260 kilometres northeast of Lisbon, Portugal, was acquired in January 2016 and produces tungsten concentrate. The Sangdong mine, which was historically one of the better tungsten mines in the apple and one of the few long-life, high-grade tungsten deposits alfresco of China, was acquired in September 2015 through the accretion of a 100% absorption in Woulfe Mining Corp. Almonty owns 51% of, and has an certain advantage to access a 100% buying absorption in, the Valtreixal tin-tungsten activity in northwestern Spain. Added advice about Almonty’s activities may be begin at www.almonty.com and beneath Almonty’s contour at www.sedar.com.

Neither TSX Venture Barter nor its Regulation Services Provider (as that appellation is authentic in behavior of the TSX Venture Exchange) accepts albatross for the capability or accurateness of this release.

Disclaimer for Forward-Looking Advice

When acclimated in this columnist release, the words “expect”, “estimate”, “project”, “belief”, “anticipate”, “intend”, “expect”, “plan”, “predict”, “may” or “should” and the abrogating of these words or such variations after or commensurable analogue are advised to analyze advanced statements and information. This columnist absolution contains advanced statements and advice including accumulation these companies. These statements and advice are based on management’s beliefs, estimates and opinions on the date that statements are fabricated and reflect Almonty’s accepted expectations.

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Advanced statements in this account absolution include, but are not bound to, statements apropos the adapted assets and ability appraisal for the Sangdong Tungsten Project, Republic of Korea and absolute improvements therein, the long-term, bargain abeyant of the project; achievement of the all-important costs arrange and the entering into a absolute accommodation acceding with the KDB and bartering assembly actuality accomplished in the added bisected of agenda 2018. The advanced statements and advice in this columnist absolution accommodate expectations and advice apropos to the intentions of management. Such statements and advice reflect the accepted appearance of Almonty with account to risks and uncertainties that may account absolute after-effects to alter materially from those advised in those advanced statements and information. By their nature, advanced statements absorb accepted and alien risks, uncertainties and added factors and assumptions which may account absolute results, achievement or achievements, or added approaching events, to be materially altered from any approaching results, achievement or achievements bidding or adumbrated by such advanced statements.

Investors are cautioned adjoin advertence disproportionate authoritativeness to advanced statements. When relying on Almonty’s advanced statements and advice to accomplish decisions, investors and others should anxiously accede the above factors and added uncertainties and abeyant events.

Almonty has additionally affected that absolute factors will not account any advanced statements and advice to alter materially from absolute after-effects or events. However, the account of these factors is not all-embracing and is accountable to change and there can be no affirmation that such assumptions will reflect the absolute aftereffect of such items or factors.

THE FORWARD-LOOKING INFORMATION CONTAINED IN THIS PRESS RELEASE REPRESENTS THE EXPECTATIONS OF ALMONTY AS OF THE DATE OF THIS PRESS RELEASE AND, ACCORDINGLY, IS SUBJECT TO CHANGE AFTER SUCH DATE. READERS SHOULD NOT PLACE UNDUE IMPORTANCE ON FORWARD-LOOKING INFORMATION AND SHOULD NOT RELY UPON THIS INFORMATION AS OF ANY OTHER DATE. WHILE ALMONTY MAY ELECT TO, IT DOES NOT UNDERTAKE TO UPDATE THIS INFORMATION AT ANY PARTICULAR TIME EXCEPT AS REQUIRED IN ACCORDANCE WITH APPLICABLE LAWS.

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