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March 29, 2021

Global Atomic Announces 2020 Results

Highlighting Significant Progress on its Dasa Uranium Project and
a Positive Outlook for its Zinc Recycling Business

Toronto, ON: Global Atomic Corporation (“Global Atomic” or the “Company”), (TSX: GLO, FRANKFURT: G12, OTCQX: GLATF) announced today its operating and financial results for the year ended December 31, 2020.

HIGHLIGHTS

Dasa Uranium Project

  • A Preliminary Economic Assessment (“PEA”) of the Phase 1 Development Plan for the Dasa Uranium Project was completed, indicating an initial, Phase 1, 12-year mine schedule to produce 44.1 million pounds U3O8, with an average processed grade of 5,396 ppm.
  • The PEA estimates cash costs of US $16.72/lb U3O8, including corporate and all other off-site costs,andan all-in sustaining cost of US $18.39/lb U3O8.
  • Based on a U3O8 price of US $35/lb, the after-tax NPV discounted at 8%, is $211 million for an after tax IRR of 26.6%.
  • A final Feasibility Study to confirm the Phase 1 PEA  was initiated and various technical and trade-off studes undertaken.
  • A Pilot Plant project to test and optimize the process plant flow sheet was initiated.
  • The Company submitted its Mining Permit application.
  • An Environmental Impact Statement (“EIS”) was completed and filed with the Niger Government.
  • The Mining Permit for the Dasa Project was issued on December 23, 2020.

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