Global Atomic Finalizes Off-take Agreement with European Utility
NEWS RELEASE
Global Atomic Finalizes Off-take Agreement with European Utility
Toronto, ON, December 19, 2024: Global Atomic Corporation (“Global Atomic” or the “Company”), (TSX:
GLO, OTCQX: GLATF, FRANKFURT: G12) is pleased to announce that it has signed a n offtake agreement
with a strategic Europe -based nuclear power utility to supply 260,000 pounds U 3O8 per year for three
years beginning in 2026.
This is the fourth such agreement signed by Global Atomic. Based on the 2024 Feasibility Study, the Dasa
Mine is expected to produce 68.1 million pounds of U3O8 over the operation’s current 23-year mine plan.
This latest contract is consistent with the Company’s marketing strategy - adding to a portfolio that
underwrites profitability and bank finance, whilst providing exposure to strong future market
fundamentals.
In addition, pursuant to a request for proposal (“RFP”) from a large American utility, the Company recently
submitted an RFP for the supply of 700,000 pounds U3O8 over a five-year delivery period, starting in 2028.
With approximately 12.5% of current ly defined uranium production contracted, Global has covered its
project construction costs and maintains flexibility to enter into further off- take agreements against a
backdrop of tightening U3O8 supply dynamics.
Global Atomic President and CEO, Stephen G. Roman stated, “Utilities continue to be active in the uranium
market and securing supply in a dwindling uranium supply universe. This finalization of the European
contract is a positive sign amid the geopolitical challenges in Niger and demonstrates the European utility’s
confidence in our ability to finance and develop Dasa to begin yellowcake deliveries in 2026.”
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 is currently developing the fully permitted, large, high grade Dasa
Deposit, discovered in 2010 by Global Atomic geologists through grassroots field exploration. The “First
Blast Ceremony” occurred on November 5, 2022, and commissioning of the processing plant is scheduled
for Q1, 2026 . Global Atomic has also identified 3 additional uranium deposits in Niger that will be
advanced with further assessment work.
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 recycling plant, located in Iskenderun, Türkiye. 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) 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]
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS:
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 pot ential 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”, variat ions 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 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 applica ble 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.