Successful Placement of CDIs Following Approach by Institutional Investor

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Feb 22, 2022

Almonty Industries Inc. (“Almonty” or the “Company”) (TSX: AII / ASX: AII / OTCQX: ALMTF / Frankfurt: ALI) is pleased to announce that following the recent announcement in relation to the imminent drawdown of the KfW loan to fund construction of the Sangdong Tungsten Mine (refer ASX / TSX announcement 7 February 2022), the Company has been approached and received firm commitments from an institutional investor who wanted to increase their stake in Almonty, to raise gross proceeds of A$1.5 million via the issue of 1.5 million Chess Depository Interests (“CDIs”) at A$1.00 per CDI (“Placement”).