GLOBAL ATOMIC ANNOUNCES NIGERIAN GOVERNMENT SUPPORT FOR DASA PROJECT

TORONTO, August 19, 2024 /CNW/ – Global Atomic Corporation (“Global Atomic” or the “Company”), (TSX: GLO) (OTCQX: GLATF) (FRANKFURT: G12) is pleased to announce that the Government of the Republic of Congo has issued a letter Niger ON August 15, 2024in which President Tiani and the Council of Ministers reaffirmed their support for Global Atomic and the Dasa project.

In the letter translated below, the government states that…

President and CEO of Global Atomic, Stephan Romanhe stated, “This letter confirms what we have been telling all our stakeholders about the strong support from the government. Niger for our Dasa project and our significant progress in its development to date. The inclusion of ANPIPS (National Agency for Strategic Investment Projects) in the Minister’s letter confirms that Dasa is considered a strategic investment for the Republic Niger.”

“The letter emphasized that we have always complied Niger regulations. Minister of Mining during a field visit May 2024witnessed our commitment to employing mainly management and operational staff from Niger workforce and prioritization Niger “companies providing goods and services, where practical.”

“We are pleased that the government recognizes not only the socio-economic benefits that it brings Niger from Das, but also for the excellent ESG work we have been doing since 2008.”

“We continue to advance the Dasa project and look forward to bringing the mine and processing plant online in late 2025 with a view to delivering yellowcake to utilities in the U.S. and elsewhere in early 2026.”

About Global Atomic

Global Atomic Corporation (www.globalatomiccorp.com) is a publicly traded company offering a unique combination of high-grade uranium mine development and cash-generative zinc concentrate production.

The Company’s Uranium Division is currently developing the fully licensed, large, high-grade Dasa deposit, discovered in 2010 by Global Atomic geologists through grassroots exploration. The “First Blast Ceremony” took place November 5, 2022and the processing plant is scheduled to start operating in Q1 2026. Global Atomic has also identified 3 additional uranium deposits in Niger which will be further evaluated.

Global Atomic’s Base Metals division holds a 49% stake in the joint venture Befesa Silvermet Turkey, SL (BST), which operates a state-of-the-art zinc recycling facility located in Iskenderun, Turkey. The facility recovers zinc from electric arc furnace dust (EAFD) to produce high-quality zinc oxide concentrate that is sold to zinc smelters worldwide. The company’s joint venture partner, Befesa Zinc SAU (Befesa), holds a 51% stake and operates the BST joint venture. Befesa is the market leader in EAFD recycling, with approximately 50% of the European EAFD market and plants located throughout Europe, Asia AND United States of America.

The information in this release may contain forward-looking information under applicable securities laws. Forward-looking information includes, but is not limited to, statements regarding the completion of any financing; the development potential of Global Atomics and the timing of its operations, development and exploration assets; the ability of Global Atomics to obtain additional necessary funds; the future price of uranium; estimates of mineral reserves and resources; conclusions from economic evaluations; the realization of mineral reserve estimates; the timing and amount of estimated future production, development and exploration; costs of future operations; capital and operating expenditures; the success of exploration activities; mining or processing matters; currency exchange rates; governmental regulation of mining operations; and environmental and permitting risks. Generally, forward-looking statements can be identified by the use of forward-looking terminology such as “plans,” “expects,” “estimates,” variations of such words and phrases or statements that certain actions, events or results “could,” “might,” “will be taken,” “will commence,” “will include,” “are expected,” “will occur” or “will be achieved.” All information contained in this press release, other than statements of current or historical fact, is forward-looking information. Statements regarding forward-looking information are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Global Atomic to be materially different from those expressed or implied by such forward-looking statements, including, but not limited to, the risks described in Global Atomic’s annual information form and in its public documents filed from time to time on SEDAR.

Forward-looking statements are based on the opinions and estimates of management on the date such statements are made. Although Global Atomic management has attempted to identify important factors that could cause actual results to differ materially from these forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate because actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. Global Atomic undertakes no obligation to update any forward-looking statements, except as required by applicable securities laws. Readers should also refer to the risks and uncertainties sections in Global Atomic’s annual and periodic MD&A reports.

The Toronto Stock Exchange has not reviewed this press release and is not responsible for its adequacy or accuracy.

SOURCE Global Atomic Corporation

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