Global Atomic Receives Mining Permit for the Dasa Uranium Project
NEWS RELEASE
Global Atomic Receives Mining Permit for the Dasa Uranium Project
Toronto, ON, December 23, 2020: Global Atomic Corporation (“Global Atomic” or the “Company”), (TSX:
GLO, OTCQX: GLATF , FRANKFURT: G12) is pleased to announce The Presidential Decree gr anting the
Mining Permit has been approved by the Council of Ministers for the Company’s Dasa Uranium Project.
President & CEO of Global Atomic, Stephen G. Roman, stated, “We are excited to report the receipt of a
Mining Permit for the Company’s flagship discovery, Dasa, and acknowledge the tremendous
achievements of our Niger and Toronto based teams and completion of this truly important milestone.
The early receipt of the Mining Permit is testament to the relationships we’ve built with the Government
of Niger since we entered the country in 2005 and Niger’s support for its domestic uranium mining industry.
With this Permit and continuing positive results from our ongoing work programs, we are enthusiastically
advancing the Dasa Project , now completing the final design and engineering required to build the
Project.”
About the Dasa Uranium Project
The Mining Permit issued by the Niger Government provides approval for the Company to mine the Dasa
uranium deposit based on the Development Plan submitted to Government in September. The Company
intends to initiate production based on the “Phase I” operations scenario outlined in the PEA released
May 2020, key elements as below:
12 year, Phase I operation, producing 44 million lbs U3O8 at 5,396 parts per million (0.54%)
Annual production of 4.4 million pounds U3O8
Cash cost of $16.72 per pound
All-in sustaining cost (AISC) of $18.39 per pound
After-tax NPV8 of $211-million and after-tax IRR of 26.6 per cent
Our Phase I mine plan targets high-grade mineralization starting 70 metres below surface and provides a
low capex route to production us ing conventional underground mining and processing technology . The
Phase I mine plan also provides ready access to the overall contained uranium inventory of over 200
million pounds in the mine's deeper horizons.
The compelling economics of the Dasa Project allow us to go into production at a time when market
fundamentals are increasingly bullish and supportive of higher uranium prices. Key highlights of the Dasa
Project are:
Large, high-grade uranium deposit
Clean metallurgy with excellent leachability and recovery
Low CAPEX-OPEX
Readily available, experienced local workforce
Good infrastructure, near existing production
Republic of Niger is the world’s 5th largest uranium producer
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 Dasa Mining Permit now granted, final design and engineering as well as comp letion of
geotechnical drilling and pilot plant testing is ongoing.
Global Atomics’ Base Metals Division holds a 49% interest in the Befesa Silvermet Turkey, S.L. (“BST”) Joint
Venture, which operates a new, state of the art processing facility, located in Iske nderun, 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 and Asia.
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 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
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 ot her
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.