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Almonty Industries Appoints General Gustave F. Perna to Board of Directors

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Almonty Industries (TSX: AII, OTCQX: ALMTF) has appointed General Gustave F. Perna to its Board of Directors, effective March 20, 2025. General Perna brings significant executive and military leadership experience, particularly in strategy, supply chain management, and logistics.

Perna currently serves as a Director on multiple boards including Allison Transmission, MD Helicopters, and others. His notable experience includes co-leading Operation Warp Speed (2020-2021) and serving as Commander of the U.S. Army Materiel Command (2016-2020), where he managed over 190,000 personnel.

This appointment comes as Almonty, a leading global tungsten concentrate producer, plans to transition its corporate domicile to the United States and strengthen its position as a critical tungsten supplier to American industry.

Almonty Industries (TSX: AII, OTCQX: ALMTF) ha nominato Generale Gustave F. Perna nel suo Consiglio di Amministrazione, con effetto dal 20 marzo 2025. Il Generale Perna porta con sé una significativa esperienza di leadership esecutiva e militare, in particolare in strategia, gestione della supply chain e logistica.

Attualmente, Perna è Direttore in diversi consigli, tra cui Allison Transmission, MD Helicopters e altri. La sua esperienza notevole include la co-conduzione dell'Operazione Warp Speed (2020-2021) e il servizio come Comandante del Comando Materiali dell'Esercito degli Stati Uniti (2016-2020), dove ha gestito oltre 190.000 persone.

Questa nomina arriva mentre Almonty, un produttore globale leader di concentrato di tungsteno, pianifica di trasferire la propria sede legale negli Stati Uniti e rafforzare la propria posizione come fornitore critico di tungsteno per l'industria americana.

Almonty Industries (TSX: AII, OTCQX: ALMTF) ha nombrado al General Gustave F. Perna en su Junta Directiva, con efecto a partir del 20 de marzo de 2025. El General Perna aporta una significativa experiencia en liderazgo ejecutivo y militar, especialmente en estrategia, gestión de la cadena de suministro y logística.

Perna actualmente se desempeña como Director en varias juntas, incluyendo Allison Transmission, MD Helicopters y otras. Su experiencia notable incluye la co-liderazgo de la Operación Warp Speed (2020-2021) y su servicio como Comandante del Comando de Materiales del Ejército de EE. UU. (2016-2020), donde gestionó a más de 190,000 personas.

Este nombramiento se produce mientras Almonty, un productor global líder de concentrado de tungsteno, planea trasladar su domicilio corporativo a los Estados Unidos y fortalecer su posición como proveedor crítico de tungsteno para la industria estadounidense.

Almonty Industries (TSX: AII, OTCQX: ALMTF)는 Gustave F. Perna 장군을 이사로 임명했습니다. 임기는 2025년 3월 20일부터 시작됩니다. Perna 장군은 전략, 공급망 관리 및 물류 분야에서 상당한 경영 및 군사 리더십 경험을 가지고 있습니다.

Perna는 현재 Allison Transmission, MD Helicopters 등 여러 이사회에서 이사로 활동하고 있습니다. 그의 주목할 만한 경험으로는 Operation Warp Speed (2020-2021)의 공동 리더십과 미국 육군 물자 사령부의 사령관(2016-2020)으로서 190,000명 이상의 인력을 관리한 경험이 있습니다.

이번 임명은 Almonty가 미국으로 법인 주소지를 이전하고 미국 산업에 중요한 텅스텐 공급업체로서의 입지를 강화할 계획을 세우고 있는 가운데 이루어졌습니다.

Almonty Industries (TSX: AII, OTCQX: ALMTF) a nommé le Général Gustave F. Perna au sein de son Conseil d'Administration, à compter du 20 mars 2025. Le Général Perna apporte une expérience significative en leadership exécutif et militaire, notamment dans les domaines de la stratégie, de la gestion de la chaîne d'approvisionnement et de la logistique.

Perna est actuellement directeur de plusieurs conseils, dont Allison Transmission, MD Helicopters et d'autres. Son expérience notable inclut la co-direction de l'Opération Warp Speed (2020-2021) et son service en tant que Commandant du Commandement du Matériel de l'Armée américaine (2016-2020), où il a géré plus de 190 000 personnes.

Cette nomination intervient alors qu'Almonty, un producteur mondial de concentré de tungstène, prévoit de transférer son siège social aux États-Unis et de renforcer sa position en tant que fournisseur critique de tungstène pour l'industrie américaine.

Almonty Industries (TSX: AII, OTCQX: ALMTF) hat General Gustave F. Perna in seinen Vorstand berufen, wirksam ab dem 20. März 2025. General Perna bringt bedeutende Erfahrungen in der exekutiven und militärischen Führung mit, insbesondere in den Bereichen Strategie, Lieferkettenmanagement und Logistik.

Perna ist derzeit Direktor in mehreren Vorständen, darunter Allison Transmission, MD Helicopters und andere. Zu seinen bemerkenswerten Erfahrungen gehört die Mitleitung der Operation Warp Speed (2020-2021) und die Tätigkeit als Kommandeur des U.S. Army Materiel Command (2016-2020), wo er über 190.000 Mitarbeiter leitete.

Diese Ernennung erfolgt, während Almonty, ein führender globaler Produzent von Wolframkonzentrat, plant, seinen Unternehmenssitz in die Vereinigten Staaten zu verlagern und seine Position als kritischer Wolframanbieter für die amerikanische Industrie zu stärken.

Positive
  • Strategic appointment brings extensive military and supply chain expertise to strengthen U.S. market position
  • Timing aligns with company's planned transition to U.S. corporate domicile
  • Addition of high-profile board member with significant defense industry experience
Negative
  • None.

TORONTO--(BUSINESS WIRE)-- Almonty Industries Inc. (TSX: AII) (ASX: AII) (OTCQX: ALMTF) (Frankfurt: ALI) (“Almonty” or the “Company”), a leading global producer of tungsten concentrate, today announced the appointment of General Gustave F. Perna to the Company’s Board of Directors, effective March 20, 2025.

General Perna brings extensive executive and military leadership experience to Almonty, with a strong background in strategy, supply chain management, logistics, and talent development across high-paced global industries. His expertise spans the technology, sports, entertainment, and defense sectors, where he has played an active role in corporate governance. He currently serves as a Director on the boards of Allison Transmission, MD Helicopters, 280 Earth, Paradigm Health, and Corvias, contributing to Audit, Compliance, and Nominating & Corporate Governance Committees.

Prior to his corporate governance experience, from 2020 - 2021 General Perna co-led Operation Warp Speed, the U.S. national initiative focused on the rapid research, development, production, and distribution of vaccines and therapeutics to combat COVID-19. From 2016 to 2020, General Perna served as Commander of the U.S. Army Materiel (AMC) Command, comprising over 190,000 Soldiers, civilians, and contractors. Under his leadership, AMC delivered comprehensive logistics, sustainment, and materiel readiness solutions from installation-level support to forward tactical operations, ensuring globally dominant land force capabilities.

In addition, General Perna has held several high-ranking positions throughout his distinguished military career. He served as Deputy Chief of Staff, G-4 (SVP for Logistics) for the Department of the Army (2014–2016), Commanding General (CEO) of the Joint Munitions Command (2010–2012), and Director, J-4, United States Forces – Iraq (2009–2010), overseeing multinational logistics during Operation Iraqi Freedom/New Dawn. He also led as Commanding General (CEO) of the Defense Supply Center – Philadelphia within the Defense Logistics Agency (2008–2009), reinforcing his deep expertise in global supply chain management and strategic logistics operations.

Lewis Black, President & CEO of Almonty, commented: “We are thrilled to welcome General Perna to Almonty’s Board of Directors. His unparalleled expertise in global logistics, supply chain strategy, and defense-related industries will be instrumental as we transition our corporate domicile to the United States and strengthen our role as a critical tungsten supplier to American industry. General Perna’s decades of leadership at the highest levels of the U.S. military and private sector bring a strategic perspective that aligns perfectly with Almonty’s long-term vision. His deep understanding of operational efficiency and national security supply chains will help guide us through this next phase of growth. We are also deeply grateful for his service to the United States and his unwavering commitment to advancing strategic industries.”

About Almonty

Almonty Industries Inc. (TSX: AII) (ASX: AII) (OTCQX: ALMTF) (Frankfurt: ALI) is a diversified and experienced global producer of tungsten concentrate in conflict-free regions. The Company is currently mining, processing and shipping tungsten concentrate from its Panasqueira mine in Portugal. Its Sangdong tungsten mine in Gangwon Province, South Korea is currently under construction. The Sangdong mine was historically one of the largest tungsten mines in the world and one of the few long-life, high-grade tungsten deposits outside of China, and has significant upside potential from an underlying molybdenum deposit. Additional development projects underway include the Valtreixal tin/tungsten project in northwestern Spain and Los Santos Mine in western Spain. Further information about Almonty’s activities may be found at https://almonty.com and under Almonty’s profile at www.sedarplus.ca.

Legal Notice

The release, publication, or distribution of this announcement in certain jurisdictions may be restricted by law and therefore persons in such jurisdictions into which this announcement is released, published, or distributed should inform themselves about and observe such restrictions.

Neither the TSX nor its Regulation Services Provider (as that term is defined in the policies of the TSX) accepts responsibility for the adequacy or accuracy of this release.

Disclaimer for Forward-Looking Information

When used in this press release, the words "estimate", "project", "belief", "anticipate", "intend", "expect", "plan", "predict", "may" or "should" and the negative of these words or such variations thereon or comparable terminology are intended to identify forward-looking statements and information. These statements and information are based on management’s beliefs, estimates and opinions on the date that statements are made and reflect Almonty’s current expectations.

Forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Almonty to be materially different from those expressed or implied by such forward-looking statements, including but not limited to: any specific risks relating to fluctuations in the price of ammonium para tungstate ("APT") from which the sale price of Almonty’s tungsten concentrate is derived, actual results of mining and exploration activities, environmental, economic and political risks of the jurisdictions in which Almonty’s operations are located and changes in project parameters as plans continue to be refined, forecasts and assessments relating to Almonty’s business, credit and liquidity risks, hedging risk, competition in the mining industry, risks related to the market price of Almonty’s shares, the ability of Almonty to retain key management employees or procure the services of skilled and experienced personnel, risks related to claims and legal proceedings against Almonty and any of its operating mines, risks relating to unknown defects and impairments, risks related to the adequacy of internal control over financial reporting, risks related to governmental regulations, including environmental regulations, risks related to international operations of Almonty, risks relating to exploration, development and operations at Almonty’s tungsten mines, the ability of Almonty to obtain and maintain necessary permits, the ability of Almonty to comply with applicable laws, regulations and permitting requirements, lack of suitable infrastructure and employees to support Almonty’s mining operations, uncertainty in the accuracy of mineral reserves and mineral resources estimates, production estimates from Almonty’s mining operations, inability to replace and expand mineral reserves, uncertainties related to title and indigenous rights with respect to mineral properties owned directly or indirectly by Almonty, the ability of Almonty to obtain adequate financing, the ability of Almonty to complete permitting, construction, development and expansion, challenges related to global financial conditions, risks related to future sales or issuance of equity securities, differences in the interpretation or application of tax laws and regulations or accounting policies and rules and acceptance of the TSX of the listing of Almonty shares on the TSX.

Forward-looking statements are based on assumptions management believes to be reasonable, including but not limited to, no material adverse change in the market price of ammonium para tungstate (APT), the continuing ability to fund or obtain funding for outstanding commitments, expectations regarding the resolution of legal and tax matters, no negative change to applicable laws, the ability to secure local contractors, employees and assistance as and when required and on reasonable terms, and such other assumptions and factors as are set out herein. Although Almonty has attempted to identify important factors that could cause actual results, level of activity, performance or achievements to differ materially from those contained in forward-looking statements, there may be other factors that cause results, level of activity, performance or achievements not to be as anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate and even if events or results described in the forward-looking statements are realized or substantially realized, there can be no assurance that they will have the expected consequences to, or effects on, Almonty. Accordingly, readers should not place undue reliance on forward-looking statements and are cautioned that actual outcomes may vary.

Investors are cautioned against attributing undue certainty to forward-looking statements. Almonty cautions that the foregoing list of material factors is not exhaustive. When relying on Almonty’s forward-looking statements and information to make decisions, investors and others should carefully consider the foregoing factors and other uncertainties and potential events.

Almonty has also assumed that material factors will not cause any forward-looking statements and information to differ materially from actual results or events. However, the list of these factors is not exhaustive and is subject to change and there can be no assurance that such assumptions will reflect the actual outcome 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.

Company Contact

Lewis Black

Chairman, President & CEO

(647) 438-9766

info@almonty.com

Investor Relations Contact

Lucas A. Zimmerman

Managing Director

MZ Group - MZ North America

(949) 259-4987

ALMTF@mzgroup.us

www.mzgroup.us

Source: Almonty Industries Inc.

FAQ

When will General Gustave F. Perna join Almonty Industries (ALMTF) board?

General Perna will join Almonty's Board of Directors effective March 20, 2025.

What is General Perna's most recent military leadership experience before joining ALMTF?

He served as Commander of U.S. Army Materiel Command from 2016 to 2020, managing 190,000 Soldiers, civilians, and contractors.

What role did General Perna play in Operation Warp Speed?

He co-led Operation Warp Speed during 2020-2021, overseeing the U.S. initiative for COVID-19 vaccine research, development, and distribution.

Which other corporate boards does General Perna serve on besides ALMTF?

He serves as Director on boards of Allison Transmission, MD Helicopters, 280 Earth, Paradigm Health, and Corvias.

Why is Almonty Industries (ALMTF) appointing General Perna to its board?

To leverage his expertise in global logistics and supply chain strategy as Almonty transitions to U.S. domicile and strengthens its position as a critical tungsten supplier.
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