Ares Strategic Mining Inc. (CSE: ARS) (OTCQX: ARSMF) (FRA: N8I1) announced a strategic evolution of its Board of Directors, appointing Lorenzo Esteva, a seasoned financial and international business executive, to support the company's next phase of growth and planned transition to a senior U.S. exchange. The move reflects Ares' maturation from a development-stage mining company into an emerging strategic materials supplier with active mining operations, expanding processing infrastructure, and major U.S. government contracts.
Mr. Esteva brings over 30 years of experience in senior financial, restructuring, wealth management, corporate advisory, and international business roles across the United States and Latin America. His career includes senior leadership positions at UBS Financial Services, Merrill Lynch, Prospero International, and Golden Ratio CS LLC. He specializes in institutional and private capital markets, corporate restructuring, operational optimization, international business expansion, strategic partnerships, and cross-border finance.
James Walker, President and CEO of Ares Strategic Mining, stated: 'As Ares continues to mature into a larger and more institutionally focused company, it is essential that our Board evolves alongside it. Lorenzo brings an exceptional combination of banking, corporate finance, restructuring, and international commercial expertise that will be invaluable as we continue scaling operations, expanding internationally, and preparing for the next level of public market participation.'
The board transition is part of Ares' broader strategy to position itself for institutional growth. The company's operational progress includes its Lost Sheep Fluorspar Project in Delta, Utah, which is fully permitted and contains extensive high-grade fluorspar. Ares is the only domestic fluorspar producer in the United States and is expanding its international commercial opportunities. Mr. Esteva's appointment is expected to strengthen the company's institutional market readiness, banking relationships, commercial structuring capabilities, and strategic growth planning.
As part of the board evolution, Paul Sarjeant and Raul Sanabria have stepped down. The company expressed gratitude for their contributions during Ares' formative stages. Walker added: 'Ares is entering a transformative period. Our operational progress, strategic government relationships, and expanding market position require a board with deep commercial and financial expertise capable of supporting a company operating at a much larger scale.'
Mr. Esteva graduated with honors from Tufts University in Boston with degrees in Economics/Finance and Classical Studies. He has worked extensively with institutional investors, family offices, private equity groups, and multinational commercial operations throughout the Americas. His expertise spans business development, risk management, capital structuring, mergers and acquisitions, and financial optimization.
Ares Strategic Mining is focused on developing its fluorspar projects to become a significant supplier to North American markets, supporting industries vital to modern technology and infrastructure. The Lost Sheep project comprises 100% owned 5,982 acres with 353 claims in Juab County, Utah, and has approved mining permits. The company plans to continue its uplisting initiatives and expand its presence in institutional and commercial markets.