Global Atomic Updates the Situation in The Republic of Niger
NEWS RELEASE
Global Atomic Updates the Situation in The Republic of Niger
Toronto, ON, July 31, 2023: Global Atomic Corporation (“Global Atomic” or the “Company”); TSX: GLO; Frankfurt:
G12; OTCQX: GLATF) announced today that its entire team in the Republic of Niger is safe and that the Dasa Project
remains fully engaged in opening up access to the ore body and preparing the plant site for construction.
Stephen Roman, President & CEO of Global Atomic stated, “While the situation in Niger remains volatile and there
has been protesting in some parts of the capital, the rest of the country remains calm. Importantly , our people
remain safe and normal business is being conducted at our offices and development of the Dasa Project continues.”
Specifically at the Dasa Project:
As of July 28, the mining team has opened up over 600 meters of underground development, including over
20 meters in preparation for the commencement of an 80 meter Alimak raise, which will form the main
ventilation development for the Dasa Mine.
The second fleet of mining equipment has arrived in Niger and is being shipped to the project site.
Surface and underground mine infrastructure including mine dry, ventilation infrastructure , electrical and
plumbing installations are underway.
To prepare for civil engineering and the pouring of cement related to the processing plant, earthworks began
in Q2 2023.
“The neighbouring African countries union, ECOWAS, as well as the EU and USA have voiced their opinions to the
Niger Junta currently running the Country and given a directive that the President and his Ministers be returned to
power in 7 days. It is too early to speculate on the outcome of this mandate. In the meantime, the Global Atomic
Board and Management team, as well as SOMIDA Management in Niger are closely monitoring the situation.”
“We hope for a timely and successful resolution to this unexpected event”, said Mr. Roman.
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.
Page 2 of 2
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 Atomic’s development potential and timetable of its operations, development and exploration assets; Global Atomics’ ab ility 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”, “targets”, “expects”, “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates”,
“does not anticipate”, or “believes” or variations of such words and phrases or statements that certain actions, events or results “could”, “would”, “might”, “will be taken”, “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 stateme nts
will prove to be accurate, as actual results and future events could differ materially from those anticipated in such stateme nts. 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.