Atlas Salt Advances Equipment and Infrastructure Modelling for Great Atlantic Salt Project with SRK Consulting
TSXV: SALT
100 New Gower Street, Suite 910
St. John’s, NL A1C 6K3
Telephone: (709) 739-9545
AtlasSalt.com
FOR IMMEDIATE RELEASE
Atlas Salt Advances Equipment and Infrastructure Modelling for Great Atlantic
Salt Project with SRK Consulting
St. John's, Newfoundland and Labrador – July 31, 2024 - Atlas Salt Inc. (“Atlas Salt”
or the “Company”) (TSXV: SALT ; OTCQB: REMRF ), Atlas Salt Inc. is pleased to
announce the completion of a detailed simulation and modelling verification for the
Great Atlantic Salt Project (the “Project”) with SRK Consulting (Canada) Inc. (“SRK”).
This marks a significant step forward in our strategic planning and development
process by validating the Project’s equipment requirements, material handling
system, and port capabilities. The independent verification by SRK reduces the risk
associated with project execution by confirming that the equipment and the overall
material handling system can achieve sustained production rates. This supports Atlas
Salt's decision-making process in equipment selection and operational planning.
Key Findings:
1. Resolution of SLR 1 Recommendations: We have resolved key
recommendations from the Feasibility Study (“FS”), including:
o Reviewing continuous miner and haul truck productivity;
o Optimizing mining sequences to maximize productivity; and
o Conducting further evaluations of haul trucks to assess cycle times and
battery life.
2. Mobile Mining Equipment Scalability: The SRK verification confirms that our
mobile mining equipment can readily scale to higher production values,
ensuring flexibility and scalability as production needs increase. Multiple
viable Original Equipment Manufact urer (“OEM”) solutions are available, and
our planned infrastructure can support the initial planned production rate of
2.5 Mtpa, with the capability to achieve higher production rates.
1 SLR Consulting (Canada) Ltd. amended technical report filed on SEDAR+ on May 1, 2024.
TSXV: SALT
100 New Gower Street, Suite 910
St. John’s, NL A1C 6K3
Telephone: (709) 739-9545
AtlasSalt.com
3. Material Handling System and Port Capability: SRK’s work verifies that the
material handling system ( “MHS”) and port infrastructure can effectively
manage a production rate of at least 2.5 Mtpa, ensuring minimal disruptions
and efficient material handling from the mine to the port.
Additional Insights:
The SRK model, which adds complexity relative to the FS, refines our equipment
needs and requirements, ensuring a sophisticated approach to operational planning
and further de-risking.
Pierre O. Labrecque, Principal Consultant at SRK, stated, "SRK Consulting (Canada)
Inc. supported Atlas Salt Inc. by developing a discrete event simulation model for the
Great Atlantic Salt Project using Arena® software. The model validated the project’s
equipment and material handling systems, providing options for operational
efficiency and reduced execution risks. This analysis supports Atlas Salt's strategic
planning of the Great Atlantic Salt Project."
Richard LaBelle, CEO, commented “ The SRK simulation modelling affirms the
feasibility of the Great Atlantic Salt Project’s operational plans and strengthens our
confidence in the project's potential to deliver significant economic benefits. Further
work is ongoing, and another update will be provided soon. We remain dedicated to
advancing the Project with a focus on sustainable practices and financial discipline.”
For further information and ongoing updates, please visit https://atlassalt.com/.
About Atlas Salt Inc.
Atlas Salt Inc. is developing Canada’s next salt mine and is committed to responsible
and sustainable mining practices. With a focus on innovation and efficiency, the
company is poised to make significant contributions to the North American salt
market while upholding its values of environmental stewardship and community
engagement.
TSXV: SALT
100 New Gower Street, Suite 910
St. John’s, NL A1C 6K3
Telephone: (709) 739-9545
AtlasSalt.com
For information, please contact:
Richard LaBelle, CEO
We seek safe harbor.
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”, “e stimates”, “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: complet ion, delivery and timing of project
components and requirements, and analysis and assumptions related thereto. Actual
future results may differ materially. There can be no assurance that such statements will
prove to be accurate, and actual results and fut ure 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 achievem ents 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 required permits, supply arrangements and financing. Readers
should not place undue reliance on the forward -looking statements and information
contained in this news release concer ning these times. Except as required by law, the
TSXV: SALT
100 New Gower Street, Suite 910
St. John’s, NL A1C 6K3
Telephone: (709) 739-9545
AtlasSalt.com
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.