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September 15, 2021

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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