Global Atomic Commences EPCM Phase for the Dasa Project
NEWS RELEASE
Global Atomic Commences EPCM Phase for the Dasa Project
Toronto, ON, September 28 , 2022: Global Atomic Corporation (“Global Atomic” or the
“Company”), (TSX:GLO, OTC:QX:GLATF, Frankfurt:G12) is pleased to announce the signing of
Development Consultants Private Limited (“DCPL”) of Kolkata, India, and Lycopodium Minerals
Canada Ltd. (“Lycopodium”) to commence the basic and detailed engineering, procurement and
Project Management of the Dasa Mine processing plant in the Republic of Niger.
These engineering and project delivery firms were selected to form an Integrated EPCM Project
Team synthesizing proven uranium processing plant design experience with West African project
management and construction experience. DCPL will focus on the Basic and Detailed
Engineering required for the design of the Dasa Process Plant , with the initial phase of Basic
Engineering now underway. Lycopodium will prepare the Project Execution Plan, provide input
for constructability in West Africa and provide project services during this phase with the intention
of continuing on to manage plant construction.
All EPCM activity will be guided and supervised by Global Atomic Owner’s Team headed by Dr.
Santiago Faucher, Chief Technology Officer at Global Atomic. Global Atomic and Dr. Faucher’s
company, Insight R&D, have now integrated metallurgical, mechanical, and electrical engineering
experts with DCPL’s team in Kolkata and Lycopodium’s team in Toronto to direct work on the
Dasa Project. Together, this Integrated EPCM Project Team will develop the detailed design and
complete the project delivery, of the Dasa mine processing plant; building on proven results from
the 2020 Insight R&D pilot plant trials and the findings of the 2021 Dasa Phase 1 Feasibility Study.
DCPL and Lycopodium have excellent and extensive work histories throughout Africa including
technical studies, project reviews and EPCM contract ing for over 77 engineering projects in
mining and other industries. Additionally, DCPL has designed and built several uranium recovery
and process plants and is currently the foremost engineering company in India developing that
country’s nuclear and uranium sectors. Lycopodium has been actively engaged in 60 mining
projects across West Africa and brings recent hands-on project delivery experience in the region.
Global Atomic President and CEO, Stephen G. Roman stated, “Following Global Atomic’s
announcements regarding our initial off-take agreement, the formation of a banking syndicate to
finance the Dasa Project and the incorporation of our Niger operating company, SOMIDA, the
commencement of the EPCM phase is our next important milestone to stay on schedule to
become one of the world’s newest uranium production companies . Similar to most multinational
firms, who source specialized engineering from India today, Global Atomic has identified DCPL
as having the World’s most compelling experience and track record in the design of uranium
processing plants. DCPL’s uranium experience will reduce project technical risk, while its ability
to deliver highly detailed engineered designs will reduce in -field work and enable good project
cost control.”
“After an extensive selection process, DCPL and Lycopodium emerged to form the best team to
undertake the EPCM phase of the Dasa Project. This Integrated EPCM Project Team is
committed to completing the project on time and keeping the Dasa Project on schedule to deliver
yellowcake to utilities in Q1 2025.”
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About DCPL
Development Consultants Private Limited (“DCPL”), is an India-based trans-national consulting
engineering firm that provides an entire suite of Project Engineering services to its clients in India
and around the world, from concept to commissioning, for diverse core sector and speciality
projects. DCPL has led projects in many fields including mining, m ineral processing and
beneficiation, renewable energy and environment, power generation, transmission and
distribution, industrial water supply and treatment and industrial wastewater treatment and reuse.
DCPL (www.dcpl.net.in) is closely associated with many of the n uclear power projects in India
and has engineered approximately 45,000 MW of installed generation capacity, DC PL is one of
the leaders in the nuclear field globally.
About Lycopodium
Lycopodium Minerals Canada Ltd., based in Toronto, is a subsidiary of Lycopodium Limited
(ASX:LYL) which is headquartered in Perth, Australia, and is a leader in its field, working with
clients to provide integrated engineering, construction and asset management solutions.
Lycopodium has the expertise to deliver complex, multidisciplinary projects, through to the
provision of feasibility studies and advisory services. Operating across the Resources,
Infrastructure and Industrial Processes sectors, they offer a diverse team of industry experts to
deliver bespoke and innovative solutions across all commodity types.
With the capability to deliver projects around the world, Lycopodium has offices in Australia, South
Africa, Canada, Ghana and the Philippines. For more, visit www.lycopodium.com.
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. The Phase 1 Feasibility Study for Dasa was filed in December 2021 and estimates
Yellowcake production to commence by the end of 2024. Mine excavation began in Q1 2022.
Global Atomic’s 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 approximately 50% of the European EAFD market and facilities located
throughout Europe, Asia and the United States of America.
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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 wi th 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 timi ng 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
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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 d iffer 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.