Global Atomic’s Turkish Operations Unaffected by Government’s Recent Economic Announcement
NEWS RELEASE
Global Atomic’s Turkish Operations Unaffected by Government’s
Recent Economic Announcement
Toronto, ON, January 4, 2022: Global Atomic Corporation (“Global Atomic” or the “Company”)
(TSX: GLO, OTCQX: GLATF, FRANKFURT: G12) reports that it is business as usual at its Turkish joint
venture operation , Befesa Silvermet Turkey (‘BST”), following recent announcements by the
Turkish government regarding the conversion of a portion of revenues into Turkish lira. As a
matter of course, BST regularly repatriates a portion of its revenue from U.S. dollars to Turkish
lira to cover operating costs related to items such as salaries and locally supplied raw materials.
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,
high grade 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.
Global Atomics’ Base Metals Division holds a 49% interest in the Befesa Silvermet Turkey, S.L.
(“BST”) Joint Venture, which operates a modern 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 a market leader in
EAFD recycling, with app roximately 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 and CEO
Tel: +1 (416) 368-3949
Email: [email protected]
Bob Tait
VP Investor Relations
Tel: +1 (416) 558-3858
Email: [email protected]
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 expendit ures; 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
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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 pr ove 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.