Global Atomic Begins Dasa Underground Development with Opening Blast Ceremony

TORONTO, Nov. 7, 2022 /CNW/ - Global Atomic Corporation ("Global Atomic" or the "Company") (TSX: GLO) (OTCQX: GLATF) (Frankfurt: G12), is pleased to announce that underground development has officially commenced at the Dasa Uranium Project in the Republic of Niger. 

On November 5, 2022, Global Atomic hosted over 800 people for the Opening Blast Ceremony at the Dasa Mine which marks a significant milestone towards producing yellowcake for delivery to utilities in early 2025.  The successful execution of this event on schedule, Dasa is on track to deliver considerable benefits to Niger, particularly for the people of the Agadez Region.  Benefits include:

• direct employment, training and apprenticeship opportunities for local youth,
• new employment for experienced mine workers displaced by the closing of the Cominak mine in 2021,
• indirect employment through local supplies to the Dasa Project,
• continued support for local communities, including:
• drilling of wells to access water from underground aquifers,
• food supplies during periods of draught,
• medical supplies,
• education and training,
• local business opportunities to supply food and services to the mine site.

Stephen G. Roman, President & CEO, stated, "We appreciate the hundreds of people who attended Dasa's Opening Blast Ceremony.  On behalf of the Global Atomic team and Board of Directors, I specifically acknowledge the support of senior government leaders from the Republic of Niger including Prime Minister Mahamadou Ouhoumoudo, Rhissa Ag Boula, Minister of State and Madame Hadizatou Ousseini Yacoubas, Minister of Mines as well as these senior leaders from the Adadez Region Magagi Dada, Governor and Mohamed Anako, Regional Council Chair. We look forward to a long-term partnership in the development and operation of our outstanding new uranium mine which will benefit all Nigeriens".

The event was attended by the following dignitaries and interested groups from Niger, indicative of the strong local support for the Dasa Project.

• Prime Minister
• Minister of State
• Minister of Mines
• 6 other Ministers
• Members of Parliament
• Agadez Governor 
• Agadez Regional Council Chairman
• Secretary General at the Office of President
• Many Presidential and prime ministerial Counselors
• Agadez Sultan representative
• Prefects
• Mayors
• Local Counselors
• Administration Officers
• Company representatives from Orano Mining, SOMAÏR, COMINAK and SONICHAR
• Businesspeople
• Area and Village Chiefs
• Civil Society and NGO Representatives
• Media

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 includes four deposits with the flagship project being the large, high-grade Dasa Project, discovered in 2010 by Global Atomic geologists through grassroots field exploration. With the issuance of the Dasa Mining Permit and an Environmental Compliance Certificate by the Republic of Niger, the Dasa Project is fully permitted for commercial production. The Phase 1 Feasibility Study for Dasa representing approximately 20% of the known resource was filed in December 2021 and estimates Yellowcake production to commence by the end of 2024. Mine excavation began in Q1 2022.

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 production plant, located in Iskenderun, Turkey. 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

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