Global Atomic's Dasa Project Visit by Niger Mines Minister Delegation

TORONTO, May 6, 2024 /CNW/ -?Global Atomic Corporation ("Global Atomic" or the "Company"), (TSX: GLO) (OTCQX: GLATF) (FRANKFURT: G12) is pleased to report that on May 3, 2024, Niger's Mines Minister, Commissaire Colonel Ousmane Abarchi, joined local dignitaries, including the Agadez Region Governor and local community authorities as well as SOMIDA employees for a tour the Dasa Project.  The visit was part of the Minister's tour of significant exploration and mining projects in the Agadez Region of northern Niger.  

The high-level delegation visit included: 

• a tour of underground development now exceeding 1,000 meters, with 5 levels of development underway to access the orebody and prepare stopes for mining
• a review of the mine design and current 23-year mine plan
• the official ceremony to commence earthworks in preparation for plant construction
• a review of the plant design and timelines for plant commissioning at the end of 2025
• a review of ESG activities and community engagement undertaken since 2008 in the region
• the camp expansion area built to accommodate over 500 employees and contractors

Global Atomic President and CEO, Stephen G. Roman commented, "We were honoured to host the Mines Minister and other dignitaries at our Dasa operation.  The Minister expressed his continuing support for the Project and confirmed the Government's recognition of Dasa's strategic value and near-term economic benefit that will be realized in the form of local employment, taxes and royalties." 

"Our relationship with Niger Government officials since field operations began in 2008 has always been positive. The Government continues to offer support in many ways including security in the region and assistance with expediting logistics to equip our mining team with supplies and consumables to maintain a high pace of mine development.  The underground development has continued to progress on schedule.  We value the Government's support as we enter this next significant stage to construct our processing plant." 

During his tour of the Dasa Project Niger's Mines Minister, Commissaire Colonel Ousmane Abarchi, stated, "We came here, we visited the mine, and we launched the earth breaking operations for the mill construction. Dasa is a reality everyone can see.  We thank you all.  We are supportive of the SOMIDA team and Global Atomic. This project is very important for us; as a government and as a shareholder. We want Dasa to be the start of new Niger mining practice with expectations on State Income, Employment and Environment management."

Below are photos of the tour, which will be available with videos on the Company's website www.globalatomiccorp.com.

 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 is currently developing the fully permitted, large, high grade Dasa Deposit, discovered in 2010 by Global Atomic geologists through grassroots field exploration. The "First Blast Ceremony" occurred on November 5, 2022, and commissioning of the processing plant is scheduled for Q1, 2026. Global Atomic has also identified 3 additional uranium deposits in Niger that will be advanced with further assessment work.

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 recycling 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.

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 Atomics' development potential and timetable of its operations, development and exploration assets; Global Atomics' ability 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", "is expected", "estimates", variations of such words and  phrases or statements that certain actions, events or results "could", "would", "might", "will be taken", "will begin", "will include", "are expected", "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 statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements.  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.

SOURCE Global Atomic Corporation