Global Atomic Update and Outlook for 2023
NEWS RELEASE
Global Atomic Update and Outlook for 2023
Toronto, ON, March 20, 2023: Global Atomic Corporation (“Global Atomic” or the “Company” ),
(TSX:GLO, OTC:QX:GLATF, Frankfurt:G12) is pleased to report on operations at its Turkish zinc
recycling joint venture and its Dasa Uranium Project in the Republic of Niger.
Turkish Zinc Recycling Joint Venture
The zinc recycling plant in Iskenderun, Türkiye, has restarted production following the
earthquakes earlier this year. Employees are relieved to be back at work to fund their rebuilding
efforts and thankful for the support from the joint venture partners.
Dasa Uranium Project
All assays from Dasa’s 2022 16,000-meter drill program have been completed at ALS Labs in
Vancouver, Canada, and the database is now ready for final review and verification, including
final K-factor adjustments. The data will then be transmitted to Dmitry Pertel, MAIG, of AMC
Consultants for the development of the updated Mineral Resource Estimate (“MRE”). The MRE
and a revised mine plan will then be used to develop a revised Phase 1 Feasibility Study for the
Dasa Project.
At the Dasa Mine , operations are proceeding on schedule with approximately 200 meters of
underground development now completed on the decline ramp as well as for re-muck and safety
bays. A total of 800 meters will be developed before the ramp encounters development ore ,
expected in late Q4 2023. See photos below.
Engineering progress continues with DCPL and Lycopodium with first earthworks expected to
begin in Q2. Long-lead items including the crusher, SAG mill and acid plant will be ordered by the
end of March.
Global Atomic President and CEO, Stephen G. Roman commented, “Our two businesses position
Global Atomic as one of the most environmentally progressive companies in the mining sector.
Our zinc recycling plant in Türkiye is a key component in that region’s circular economy, removing
previously dumped waste materials in the form of Electric Arc Furnace Dust and producing high
quality zinc concentrate for smelters in Europe. Our Dasa Mine is one of the few near term
uranium producers under development today, uranium that will be used by international electric
utilities to generate clean baseload power to support the increasing electrification of our planet.”
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Dasa Mine portal with temporary ventilation tubing installed for ramp development
Dasa Mine portal with infrastructure, including ventilation, compressed air and water
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Decline ramp progressing in competent sandstone
SOMIDA crew working at the face
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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 delivery to utilities to commence in 2025. 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,
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.
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 proposed financings; Global Atomics’ development potential
and timetable of its operations, development and exploration assets; Global Atomics’ ability to raise additional funds on satisfactory
terms to the Company; the future price of uranium; the estimation of mineral reserves and resources; the completion and timing of the
MRE; conclusions of economic evaluation; the realization of mineral reserve estimates; the timing and amount of estimated future
production, development and exploration; impacts of third -parties and Government policies on the Company’s operations; 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 word s 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 b e materially different
from those forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended.
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There can be no assurance that such statements will prove 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 accorda nce 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.