Atlas Narrows Search FOR New CEO
TSXV: SALT
333 Duckworth Street, St. John's
NL, A1C 1G9
Telephone: (709) 754-3186
Fax: (709) 754-3946
AtlasSalt.com
ATLAS NARROWS SEARCH FOR NEW CEO
St. John’s, Newfoundland and Labrador, June 26, 2023 – Atlas Salt (the “Company” or “Atlas” - TSXV:
SALT; OTCQB: REMRF; FSE: 9D00), owner of North America’s premier undeveloped salt project on the west
coast of Newfoundland, is pleased to provide updates on its CEO search, Feasibility Study progress, and
investment in Triple Point Resources Ltd. which has become a leading company in Newfoundland’s emerging
Clean Energy Hub.
CEO Search
Atlas Salt is currently reviewing a highly credible candidate for Chief Executive Officer of the Company separate
from the original short list of candidates referred to in Atlas’ May 18, 2023, news release.
Atlas President Rowland Howe commented: “Our determination is to secure a truly dynamic CEO with a proven
track record who will take North America’s premier undevelope d salt project, unique within the sector, and
leverage this asset in an investor-friendly way. We are on the right track, after having narrowed this process down
from dozens of candidates, and we look forward to updating investors again very soon.”
SLR Feasibility Study - Great Atlantic
Mr. Howe stated: “After being mine manager at the world’s largest underground salt mine for many years, I can’t
emphasize enough how significant this Great Atlantic Feasibility Study will be in the context of a broader Eastern
North America road salt sector that’s grappling with a domestic production shortfall. Great Atlantic would be the
first new North American salt mine in more than 20 years and the only one that’s electric -based and accessed
through ramps as opposed to vertical shafts. Conservative assumptions in the PEA outlined a compelling low-cost
producer. More data and continued evaluation since the PEA will give us a Feasibility Study that will be a threshold
event for Atlas Salt with the establishment of economic reserves from the billion plus tonnes of mineral resource.”
Triple Point Resources Ltd.
Atlas Salt reminds investors that it’s the largest shareholder of Triple Point Resources Ltd. (TPR), a company
formed from the Atlas spinout of the Fischell’s Salt Dome in 2022. Atlas owns 27.5 million shares of TPR or
approximately 27% of the company. The Triple Point board continues to evaluate the timing and method of
creating liquidity for current TPR shareholders.
Fischell’s is a massive Gulf Coast-style Salt Dome that could be ideally suited for safe and efficient underground
storage of hydrogen and other clean energy products in a series of salt caverns, making this asset a potential key
component of Newfoundland’s proposed Clean Energy Hub.
Following a NI-43-101 Technical Report on Fischell’s filed by Atlas in the summer of 2022 (refer to August 4,
2022 Atlas news release), Triple Point recently announced that it has successfully completed a Phase 1 Dome
Assessment of Fischell’s conducted by RESPEC, a South Dakota-based global expert in hydrogen salt caverns.
The June 8, 2023, Triple Point news release, available on SEDAR, stated: “Fischell’s Dome offers the potential
to store more than 35 million cubic meters of hydrogen, or the equivalent of 180,000 tonnes of hydrogen. This
makes the Fischell’s asset much larger than expected and the largest known salt dome on the east coast of North
America.
“The report confirms Fischell’s Dome has space for several caverns, each capable of storing over 8,000 tonnes
of green hydrogen, offering massive storage that could store all the energy from projects currently proposed by
Newfoundland and Labrador’s wind energy industry.
“In comparison, the ACES Delta Hubs in Delta, Utah, USA, is currently constructing two hydrogen caverns with
a capacity of 5,500 tonnes. ACES Delta is one of the world’s largest clean hydrogen storage projects in
construction.”
Atlas congratulates Triple Point on its success and the formation of a strong management and technical team led
by CEO Julie Lemieux.
Atlas’ Rowland Howe, a Technical Advisor for Triple Point, commented: “The salt endowment of the Bay St.
George Basin continues to exceed expectations. The spinout of Triple Point last fall allowed Atlas to focus all of
its energies on Great Atlantic, a potential `disrupter’ in Eastern North America’s road salt market given its unique
advantages in terms of its homogeneous nature, shallowness, and port proximity.”
“Mr. Salt” continued: “A separate highly-skilled team at Triple Point is focusing on unlocking the full value of
Fischell’s and other mineral licenses prospective for salt dome-type deposits that are in demand for their salt cavern
renewable energy storage potential. Salt cavern storage is expected to be a key component in the proposed ‘Clean
Energy Hub’ driven by the Canada-Germany Hydrogen Accord signed in August 2022.”
SALT Corporate Video
Click on the following link for the latest Atlas Salt Corporate Video.
https://www.youtube.com/watch?v=iGzZIDOf0e0
SALT Corporate Presentation
To view the latest Atlas Salt Corporate Presentation, visit the Company’s website or click on the following URL:
https://atlassalt.com/AtlasSalt_June25_2023.pdf
SALT Great Atlantic Project Map
Qualified Person
Patrick J. Laracy, P.Geo, and CEO, is the Qualified Person responsible for the technical contents of this news
release as defined in National Instrument 43-101.
About Atlas Salt
Bringing the Power of SALT to Investors: Atlas Salt owns 100% of the Great Atlantic salt deposit strategically
located in western Newfoundland in the middle of the robust eastern North America road salt market. The project
features a large homogeneous high-grade resource located immediately next to a deep-water port. Atlas is also the
largest shareholder in Triple Point Resources as it pursues development of the Fischell’s Brook Salt Dome
approximately 15 kilometers south of Great Atlantic in the heart of an emerging Clean Energy Hub.
We seek Safe Harbor.
For information, please contact:
Patrick J. Laracy, CEO
(709) 754-3186
MarketSmart Communications Inc.
Adrian Sydenham
Toll-free: 1-877-261-4466
Email: [email protected]
Cautionary Statement
Neither the TSX Venture Exchange nor its Regulation Services Provider, (as the term is defined in the Policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of this release. This press release includes certain "forward-looking
information" and "forward-looking statements" (collectively "forward-looking statements") within the meaning of applicable Canadian
securities legislation. All statements, other than statements of historical fact, included herein, without limitation, statements relating to
the future operating or financial performance of the Company, are forward-looking statements. Forward-looking statements are
frequently, but not always, identified by words such as "expects", "anticipates", "believes", "intends", "estimates", "potential",
"possible", and similar expressions, or statements that events, conditions, or results "will", "may", "could", or "should" occur or be
achieved. Forward-looking statements in this press release relate to, among other things: completion, delivery and timing of the
referenced assessments and analysis. Actual future results may differ materially. There can be no assurance that such statements will
prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Forward-
looking statements reflect the beliefs, opinions and projections on the date the statements are made and are based upon a number of
assumptions and estimates that, while considered reasonable by the respective parties, are inherently subject to significant business,
technical, economic, and competitive uncertainties and contingencies. Many factors, both known and unknown, could cause actual
results, performance or achievements to be materially different from the results, performance or achievements that are or may be
expressed or implied by such forward-looking statements and the parties have made assumptions and estimates based on or related to
many of these factors. Such factors include, without limitation: the timing, completion and delivery of the referenced assessments and
analysis. Readers should not place undue reliance on the forward-looking statements and information contained in this news release
concerning these times. Except as required by law, the Company does not assume any obligation to update the forward-looking
statements of beliefs, opinions, projections, or other factors, should they change, except as required by law.