Global Atomic's Positive Government Relations & Continued Development Progress on Dasa Uranium Project

• Global Atomic held positive meetings with Niger government officials at African Mining Indaba conference. The Niger government reiterated strong support for Dasa project and openness to foreign mining investment
• Underground mine development, plant construction, and infrastructure work are progressing well at Dasa.
• The company is exploring additional financing options and expects further clarity by end of Q1 2025.
• Global Atomic remains confident in Dasa's value proposition as project advances closer to production

Global Atomic Corporation (TSX:GLO) is a publicly traded company focused on developing its large, high-grade Dasa uranium deposit in the Republic of Niger. The company's Base Metals Division also generates cash flow through its 49% stake in the Befesa Silvermet Turkey zinc recycling plant. Headquartered in Toronto, Canada, Global Atomic is advancing the fully permitted Dasa project towards first production.

Development Activities Proceeding on Schedule

Underground development work by Global Atomic at the Dasa uranium project continues to achieve good progress. Development has progressed on the first two levels along the ore body's footwall. Five-meter diameter ventilation raises have been completed and commissioned, allowing underground development to safely proceed efficiently.

Construction of the associated processing plant infrastructure also continues on schedule. Earthworks are nearly complete with civil work underway. The concrete batch plant required for construction is in process. Long lead time processing equipment, including the SAG mill shell, crusher, and acid plant have been delivered to site. The construction camp is well advanced with most housing now ready for occupancy.

Positive Government Relations

At the recent African Mining Indaba conference in Cape Town, Global Atomic management held constructive meetings with senior officials from Niger's government, including Minister of Mines Abarchi. The meetings reaffirmed the strong government support and commitment for the development of the Dasa uranium project.

Minister Abarchi emphasized that Niger welcomes and encourages investment by foreign mining companies, particularly those from Canada, the United States, and Australia. The government has no intention of nationalizing the Dasa project, he stated.

These positive government relations reduce political risk and provide a favorable operating environment for Global Atomic as it advances Dasa, the largest and hightest grade uranium project under development in Africa, towards production.

Productive Meetings Advance Financing

In addition to meetings with government officials, Global Atomic held productive discussions with potential new financiers for the Dasa project at the conference. Meetings also took place with key suppliers and contractors currently engaged at the Dasa site.

Following inauguration in the US, market sentiment has viewed debt funding from the USA as less likely in recent months. However, those discussions are ongoing in parallel with advancement of final joint venture documentation.

Importantly, Global Atomic has already entered into off-take agreements committing 90% of the first seven years of production from Dasa to major US nuclear utilities. The company has contracts for 8.8 million pounds U3O8 with these counterparties.

Stephen Roman, President & CEO of Global Atomic, stated in the press release:

“By advancing the development of the mine, processing plant and infrastructure, we have significantly moved the Dasa Project closer to production while continuously adding to the intrinsic value of the Dasa Project.  This is the basis of appraisal for all our financing discussions and not the current value of our shares.”

Looking Forward

Global Atomic has significantly advanced the Dasa uranium project, with mine development, plant construction, off-take agreements, and infrastructure proceeding on track. Discussions to finalize full project funding continue to progress, with new parties expressing interest in participating following the recent Indaba conference.

The uranium market has strengthened considerably based on robust demand growth and supply constraints. The advanced stage and high grade of the Dasa project positions Global Atomic to capitalize on this improving uranium market.

With a strong cash position, off-take contracts with major utilities, backing from the Niger government, and one of the world's largest and highest grade uranium projects in development, Global Atomic offers a compelling opportunity. The Company expects to finalize financing and continue successful development in the year ahead.