Partnership follows introduction by U.S. Department of State under the 2025 U.S.-Rwanda Framework for Shared Economic Prosperity

Government of Rwanda to receive a 25% equity interest in a platform combining the near-term collection and export of ore, pre-concentrate and panning tailings from Rwanda’s existing small-scale license holders with mobile processing and new exploration

Almonty Industries Inc. ("Almonty" or the "Company") (NASDAQ:ALM) (Frankfurt: ALI1), a leading global producer of tungsten concentrate, today announced that it has entered into a binding agreement with the Government of Rwanda (the "GOR") under which the GOR will receive a 25% interest in Almonty Rwanda Pty Ltd ("Almonty Rwanda") in exchange for the contribution of the Shyorongi tungsten exploration concession and a mineral processing license, with Almonty holding the remaining 75%.

The agreement also provides for Almonty Rwanda, with the assistance of the GOR, to acquire ore, pre-concentrate and panning tailings from Rwandan mining license holders, including small-scale license holders, for sale or upgrading. Almonty Rwanda intends to export that material until a collection and processing plant is built in Rwanda. This gives the partnership access to material from Rwanda’s existing production base in the near term, rather than depending solely on future exploration at Shyorongi.