Almonty Industries Inc. has received board approval to launch a new share repurchase program covering up to US$300 million in common shares over a 36-month window starting August 24, 2026, and running through August 24, 2029.

The program authorizes the company to buy back up to 14,400,000 common shares, representing approximately five percent of Almonty’s outstanding shares as of August 14, 2026. Purchases will be executed on the open market through the Nasdaq Capital Market and alternative trading systems at market prices, or via automatic share purchase plans during internal blackout periods.

“The Board authorized this program because we do not believe today’s share price reflects the underlying value of this Company or the assets behind it,” said Lewis Black, Chairman, President and Chief Executive Officer of Almonty.

— Lewis Black, Chairman, President and Chief Executive Officer

The buyback authorization coincides with operational advances at the Sangdong Tungsten Mine in South Korea, which is working toward full capacity. The company also maintains listings on the Nasdaq Capital Market and the Frankfurt Stock Exchange, following voluntary delistings from the Toronto Stock Exchange and the Australian Securities Exchange in mid-2026. In the United States, the Gentung Tungsten Project in Montana is scheduled to restart production in 2026.

“Almonty controls one of the largest and highest-grade tungsten deposits outside of China at precisely the moment Western governments and defense manufacturers are rebuilding their critical minerals supply chains around non-Chinese sources. With Sangdong advancing toward full capacity, we believe our own shares are one of the most attractive investments available to us at current market pricing, and repurchasing them is a direct way to build value for the shareholders who own this business alongside us.”

— Lewis Black, Chairman, President and Chief Executive Officer

The timing, exact volume, and execution of any share repurchases under the program remain at Almonty's discretion, and the buyback may be amended, suspended, or discontinued at any time subject to applicable regulatory requirements.

Read the full announcement: Almonty Announces New Share Repurchase Program of Up to US$300,000,000