Atlas SALT Nears Economic Analysis FOR Great Atlantic
TSXV: SALT
333 Duckworth Street, St. John's
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Telephone: (709) 754-3186
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AtlasSalt.com
ATLAS SALT NEARS ECONOMIC ANALYSIS
FOR GREAT ATLANTIC
St. John’s, Newfoundland and Labrador, December 8, 2022 – Atlas Salt (the “Company” or
“Atlas” - TSXV: SALT) is pleased to provide the following update on its 100% -owned Great
Atlantic Project, North America’s premier undeveloped salt deposit in the heart of a large regional
U.S./Canadian road salt market facing a significant domestic production shortfall.
Highlights:
• Ongoing drilling, nearing completion, continues to confirm the large resource endowment
of high -grade Great Atlantic salt and has yet to find the limits of this minimum 2.5-
kilometer-long deposit trending northeast toward the Turf Point Port on the west coast of
Newfoundland;
• Great Atlantic is unusually shallow by industry standards with geotechnical data continuing
to support the objective of accessing this deposit through an inclined ramp as a unique and
highly efficient mining method among North American salt deposits, subject to final
Feasibility assessment;
• Project economics due shortly: SLR Consulting (Canada) Ltd. (SLR) has advised Atlas
that it will provide the results of a Preliminary Economic Assessment (PEA) by mid-January
2023. This economic assessment is a prelude to the Feasibility Study and will describe the
current economic valuation for the project subject to refinement in the final Feasibility
analysis that will follow in early 2023.
Mr. Rowland Howe, President of Atlas Salt, commented: “SLR is conducting a rigorous independent
economic valuation of this exciting project and we eagerly anticipate a PEA in January followed by
the Feasibility Study. As a homogeneous deposit, with similar DNA to Goderich in southern Ontario
where I was mine manager for many years, salt cores at Great Atlantic are showing great consistency
with some of the best cores I’ve seen in my 30-year career in the industry.”
Mr. Howe continued, “The shallowness of the Great Atlantic deposit is one of its most important
distinguishing features. In a sector dominated by ageing mines, almost all of which are more than
half a century old, Great Atlantic through the latest technology will be designed to operate like a
highly efficient ‘Salt Factory’ serving eastern Canada and the U.S. eastern seaboard. The low-cost
producer always has the edge. Given its many attributes Great Atlantic clearly has the potential to
become the biggest and best underground salt mine in the world.”
Successful Large Step-Outs From CC-4
Ongoing drilling is currently testing an area approximately 250 meters east of historic Atlas hole
CC-4 that returned a gross thickness of 335 metres grading 96.8 % salt starting only 190 metres
downhole. Each widely -spaced drill hole in 2022 has encountered the thick salt bed at varying
depths between approximately 250 meters and 335 metres within the depth profile of previous
drilling. Current drilling will upgrade the classification of the Inferred salt resource in the area of
the proposed mining.
Baseline Environmental Studies Completed
Atlas has completed, through Gemtec Consulting Engineers and Scientists, baseline environmental
studies of the Great Atlantic Salt area. The final report is forthcoming. These surveys provide
current environmental data which will assist with the environmental permitting process for mine
development.
PRmediaNow Interview With Rowland Howe:
“Great Atlantic could really shape the future of the North American road salt sector”. Atlas Salt
President Rowland Howe discusses this news release with PRmediaNow’s Cyndi Edwards - click
on the link below to view.
https://www.youtube.com/watch?v=8SmzgzL9EQo
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 homo geneous 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: info@marketsmart.
Not for release in the United States or to U.S. newswire services
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release. This press release includes certain "forward -looking information" and "forward -looking
statements" (collectively "forward-looking statements") within the meaning of applicable Canadian
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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
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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
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should they change, except as required by law.