Global Atomic Signs Letter of Intent with CMAC-Thyssen for Portal and Underground Development

Toronto, ON: Global Atomic Corporation (“Global Atomic” or the “Company”), (TSX: GLO, OTCQX: GLATF, FRANKFURT: G12) has signed a letter of intent with CMAC-Thyssen Mining Group to collar the portal and complete initial underground development at the Dasa Uranium Project in the Republic of Niger.  The selection of CMAC-Thyssen resulted from a multi-party bidding process that required bidders to have project experience in West Africa. 

The Box-Cut excavation is scheduled to begin in January 2022 using local contractors in Niger.  CMAC-Thyssen plans to mobilize to the Dasa Site in February 2022.   Once the Box-Cut excavation is complete, CMAC-Thyssen are expected to Collar the Portal in April 2022 thus initiating the Dasa Underground Development Campaign.   The equipment to be employed by CMAC-Thyssen at Dasa has already been secured and a contract will be finalized once final terms are agreed to by the Parties.  

CMAC-Thyssen Mining Group, a well-known mine contractor from Val d’Or, Quebec, Canada, has excellent West African experience as well as the requisite French language skills for working in Niger. They are currently active on a shaft sinking project in West Africa and in recent years have worked on numerous projects in Quebec, British Columbia, Nunavut and Morocco.   Clients include Glencore Canada, Agnico Eagle Mines Limited, Osisko Mining Inc., Wesdome Gold Mine Ltd. and Eldorado Gold Corporation.

Stephen G. Roman, President and CEO commented, “Concurrent with completion of our Feasibility Study we continue to move ahead on many aspects of the Dasa Project and are gearing up to break ground in Q1 2022 as planned.  We will use  the expertise of CMAC Thyssen to do initial mine development, prepare stopes for long-hole mining and also train a local, Niger workforce in Canadian safety and operational standards. Global Atomic intends to build its own team to mine the uranium ore for decades to come.  As a result of the closure of the Cominak mine in March 2021, we look forward to hiring skilled personnel from this well trained work force to form the foundation of our own mining team. The benefits to Niger from the long-life Dasa Project will go a long way towards replacing the social and economic benefits lost due to the shutdown of the Cominak mine.”

“As planned, our 15,000-meter drill program began this month and is currently focused on step-out drilling on strike of the Flank Zone.  Other aspects of the Dasa Project actively underway include the completion of the Feasibility Study by the end of 2021, negotiations with Utilities for off-take agreements, project financing arrangements and the formation of our local Mining Company in Niger, in partnership with the Government of Niger, who are extremely supportive of the Dasa Project and its potential to bring jobs and prosperity to the heart of their country.”

About Global Atomic

Global Atomic Corporation (www.globalatomiccorp.com) is a publicly listed company that provides a unique combination of high-grade uranium mine development and cash-flowing zinc concentrate production.

The Company’s Uranium Division includes four deposits with the flagship project being the large, highgrade Dasa Project, discovered in 2010 by Global Atomic geologists through grassroots field exploration. With the issuance of the Dasa Mining Permit and an Environmental Compliance Certificate by the Republic of Niger, the Dasa Project is fully permitted for commercial production. Final design in support of the Company’s Feasibility Study is ongoing.

Global Atomics’ Base Metals Division holds a 49% interest in the Befesa Silvermet Turkey, S.L. (“BST”) Joint Venture, which operates a new, state of the art zinc production plant, located in Iskenderun, Turkey. The plant recovers zinc from Electric Arc Furnace Dust (“EAFD”) to produce a high-grade zinc oxide concentrate which is sold to zinc smelters around the world. The Company’s joint venture partner, Befesa Zinc S.A.U. (“Befesa”) listed on the Frankfurt exchange under ‘BFSA’, holds a 51% interest in and is the operator of the BST Joint Venture. Befesa is the world leader in EAFD recycling, with approximately 50% of the European EAFD market and facilities located throughout Europe, Asia and the United States of America.

Key contacts:

Stephen G. Roman
Chairman, President & CEO
Tel: +1 (416) 368-3949
Email: sgr@globalatomiccorp.com

Bob Tait
VP Investor Relations
Tel: +1 (416) 558-3858
Email: bt@globalatomiccorp.com

The information in this release may contain forward-looking information under applicable securities laws.  Forward-looking information includes, but is not limited to, statements with respect to completion of any financings; Global Atomics’ development potential and timetable of its operations, development and exploration assets; Global Atomics’ ability to raise additional funds necessary; the future price of uranium; the estimation of mineral reserves and resources; conclusions of economic evaluation; the realization of mineral reserve estimates; the timing and amount of estimated future production, development and exploration; cost of future activities; capital and operating expenditures; success of exploration activities; mining or processing issues; currency exchange rates; government 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”, “is expected”, “estimates”, variations of such words and  phrases or statements that certain actions, events or results “could”, “would”, “might”, “will be taken”, “will begin”, “will include”, “are expected”, “occur” or “be achieved”.  All information contained in this news release, other than statements of current or historical fact, is forward-looking information.   Statements of 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 those risks described in the annual information form of Global Atomic and in its public documents filed on SEDAR from time to time.

Forward-looking statements are based on the opinions and estimates of management at the date such statements are made.  Although management of Global Atomic has attempted to identify important factors that could cause actual results to be materially different from those 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, as actual results and future events could differ materially from those anticipated in such statements.  Accordingly, readers should not place undue reliance upon forward-looking statements.  Global Atomic does not undertake to update any forward-looking statements, except in accordance with applicable securities law.  Readers should also review the risks and uncertainties sections of Global Atomics’ annual and interim MD&As.

The Toronto Stock Exchange has not reviewed and does not accept responsibility for the adequacy and accuracy of this news release.

Global Atomic Provides Update on the Dasa Uranium Project

Plans to Break Ground for the Mine Portal On Schedule for Q1 2022

Toronto, ON: Global Atomic Corporation (“Global Atomic” or the “Company”), (TSX: GLO, OTCQX: GLATF, FRANKFURT: G12) today provided an update on critical aspects of the Dasa Uranium Project in the Republic of Niger.

Internal Review of the Feasibility Study (“FS”)

  • the Company is currently engaged in an internal review of key elements of the FS
  • the review provides the Company with the opportunity to audit key FS assumptions, ensure Dasa is an efficient and modern operation, and attain the highest level of project cost certainty
  • results of the Company’s pilot test program and successful testing of Dasa Ore at Orano Mining’s nearby Somaïr Mill confirm the process flow sheet and higher metal recoveries than carried in our April 2020, Preliminary Economic Assessment for Dasa 
  • the COVID-19 pandemic has disrupted supply chains around the world and management are sourcing solutions to mitigate delivery issues and lower logistics costs
  • the review has identified opportunities to increase the participation of Niger national contractors, reduce costs and ensure quotations for certain major equipment components will meet standards for a bankable Feasibility Study

Mining Plans on Schedule

  • Global Atomic’s local team in Niger has been moving forward with quotations for contractors to begin the initial work to open the mine
  • plans to break ground to excavate the Box Cut for Dasa’s mine Portal are on schedule for Q1 2022
  • negotiations continue with Orano Mining to finalize an agreement for direct shipment of ore (DSO) to their Somaïr Mine in Arlit, Niger

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Global Atomic Confirms 90% Ownership of Dasa Project

Toronto, ON: Global Atomic Corporation (“Global Atomic” or the “Company”), (TSX: GLO, OTCQX: GLATF, FRANKFURT: G12) announced today that it is has received formal notification from the Republic of Niger that the Government will not increase its ownership stake in the Company’s Dasa Uranium Project beyond the minimum 10% interest decreed under the Mining Code.

Global Atomic will now take steps to establish its Niger mining subsidiary of which Global Atomic will  own a 90% equity interest and the Republic of Niger will own a 10% equity interest.

In a letter to the Company from Niger’s Minister of Mines; Madame Hadizatou Ousseini Yacouba, confirmed  the Government’s 10% ownership interest in the Dasa Uranium Project. 

Minister Yacouba also expressed the Government’s confidence in Global Atomic to bring the mine successfully into production and  deliver direct benefits to the Republic through taxes, royalties and their 10% ownership interest and, indirect benefits through employment of  mine workers and  in country procurement of mine supplies and services. The Minister  also noted the Company’s exemplary record on Environmental, Social and Governance issues and pledged the Government’s full support for the Dasa Project.

Stephen G. Roman, President and CEO commented, “This confirms our decision to enter Niger in 2005 in search of uranium deposits.  We appreciate Niger’s proactive support for mining and uranium mining in particular, which has been a significant part of the country’s economy for  50 years.  The Niger Government has supported our extensive exploration programs over the past 16 years, encouraged our development plans, and at the end of 2020 granted our mining permit in less than three months after we submitted our application. We look forward to having the Government as our partners in the high-grade long-life Dasa Project.  We plan to bring the 12-year Phase I of the Dasa Project into full production by the end of 2024 and  add subsequent Phases to extend the life of the mine for many decades.”

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Global Atomic Announces Q2 2021 Results

Dasa Uranium Project Feasibility Study Advances towards Completion

Stronger Zinc Pricing at the Turkish Zinc Joint Venture

Toronto, ON: Global Atomic Corporation (“Global Atomic” or the “Company”), (TSX: GLO, OTCQX: GLATF, FRANKFURT: G12) announced today its operating and financial results for the three and six months ended June 30, 2021.

HIGHLIGHTS

Dasa Phase 1 Uranium Project in the Republic of Niger

  • The Company advanced key components of its Feasibility Study including:
    • Completion of water boreholes and water pump tests of various aquifers
    • Filtration and settling tests to confirm the process flowsheet
    • Process plant engineering, including detailed process design, piping, instrumentation and electrical requirements
    • Design of the underground mine, including stope sizing, optimum excavation size, and equipment requirements
    • Trade-off studies for several components of the Dasa Project including backfill system design, mining method, and tailings storage
    • Accurate cost quotations for equipment and materials, including reagents
    • Mine Boxcut and Portal design completion
    • Geotechnical drilling and lab testing of core samples for rock strength

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