Niger Appeals Court Overturns and Annuls Court Orders Against SOMIDA
NEWS RELEASE
Niger Appeals Court Overturns and Annuls Court Orders Against SOMIDA
Toronto, ON, February 24, 2023: Global Atomic Corporation (“Global Atomic” or the “Company”)
(TSX: GLO, FRANKFURT: G12) announced that the Appeals Court in Tahoua, Niger overturned
and annulled all issues raised against the Company’s Niger subsidiary, SOMIDA S.A.
As the Dasa Project is of major importance to the economy of Niger, the Hearing was treated as
a special case and resulted in an expedited ruling.
SOMIDA did not cease underground development of the Dasa Mine due to the court proceedings
and remains on its development schedule.
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,
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) 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]
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