GoviEx Releases Update on the Mutanga Drilling Program and Madaouela's Feasibility Study

  • Good progress achieved on Mutanga's infill drilling program with positive results so far
  • Madaouela Feasibility to be completed in Q3 to allow additional optimization and trade-offs

GoviEx Uranium Inc. (TSXV: GXU) (OTCQX: GVXXF) is pleased to announce an update on its drilling program at Mutanga, a 100% owned and mine permitted uranium project in Zambia, as well as an update on the Feasibility Study for Madaouela, its mine permitted uranium project in Niger.

Mutanga Drilling

GoviEx has made good progress with its Mutanga infill drilling campaign, which commenced in May 2022. The campaign is focused on upgrading the inferred mineral resources associated with the Dibwe East deposit(1) to indicated mineral resources for inclusion into a planned feasibility study. The down-hole percussion drilling conducted at the end of June 2022 is approximately 40% complete, with 6,220 m drilled out of a planned 15,500 m, and the diamond drilling is just over 10% complete with 936 m drilled out of a planned 9,000 m. (Figure 1).

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Figure 1: Location of drill holes at Dibwe East

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The mineralisation remains consistent from hole to hole, but with additional mineralisation on the sections drilled so far this year, having thicknesses of up to 25m, and extending deeper and more laterally than prior drilling to a depth of 200m. See figure 2.

Average grades are still comparable to previously drilled holes, and some holes achieved peak grades of up to 1.2% eU3O8 (Hole MDTH1386) including the current 0.67x disequilibrium factor. Part of the diamond drilling program is targeted towards reviewing this factor as there may be potential to improve this number.

The Dibwe East deposit currently contains 43.1Mt of uranium mineralization at an average grade of 304ppm U3O8 for 28.9Mlb U3O8, and represents approximately 45% of the total resource tonnage at Mutanga.(1)

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Figure 2: Section N8190859 showing increased lateral extent and thickness of mineralisation at depth compared to previously interpreted mineralised envelope.

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Madaouela Feasibility Study

At Madaouela, GoviEx is at the final stages of completing its feasibility study, with detailed engineering, drawings and provisional capital and operating costs already defined and calculated. GoviEx is currently working on final optimization and trade-off options and expects to complete its Feasibility Study in Q322. In addition, the Niger government is currently reviewing a new Mining Code, due to be finalised shortly, and while no major impacts are expected as a results of this new mining code, GoviEx would like to include any potential changes into its Feasibility Study.

Daniel Major, CEO commented:

"I am pleased to announce the progress we have made at Mutanga this year. Our ambitious drilling programme is aimed at upgrading the inferred mineral resources associated with the Dibwe East deposit (1) and we have had very positive initial results so far. This follows from last year's successful infill drilling campaign.

"We have been working diligently on the Madaouela feasibility study and I am pleased that we have already completed detailed engineering, drawings and provisional capital and operating costs.Despite the increase in inflation and pricing volatility, I am satisfied with the work completed and we are currently examining several final optimization options to improve the results to date. With the uranium market continuing to improve, we are committed to releasing the results of the Madaouela feasibility study soon as possible."

Govind Friedland, Executive chairman of GoviEx, said:

"The uranium market continues to be one of the most exciting investment propositions out there. Strong fundamentals coupled with the need for security of supply, a raging energy crisis, the push for decarbonisation and investment in clean energy; GoviEx is well positioned to potentially benefit from the expected strong market environment."

Technical notes

Grade determination:

The measurement of uranium grade in the uranium industry can be done indirectly by measurement of the radioactivity emitted by the daughter products of uranium during decay, and is measured by gamma tool containing a sodium iodide (NaI) crystal, which records counts per second when hit by gamma rays. These counts are converted to uranium grade (ppm eU3O8) by applying a K factor, a dead time correction and other correction factors as required such as casing, hole size, mud density. The K factor and the dead time is unique to each tool and is determined during calibration. The gamma tool used has been calibrated at the Pelindaba facility by Terratec Geophysical Services prior arrival on site, and the tool was run weekly in a lined test hole to test repeatability.

Disequilibrium Factor:

Disequilibrium is a known issue in sandstone hosted and in fairly young uranium deposit. Over time, uranium reaches an equilibrium with its daughter products, however this is rarely the case in secondary style sandstone hosted deposits as uranium is a very mobile element, and can be re-mobilised and re-precipitated elsewhere, leaving the more radioactive and less mobile daughter products behind. The factor is determined by comparing assay grades with corresponding gamma readings, or directly measuring the content of gamma emitting daughter products in a laboratory or using a Prompt Fission Neutron tool that measures uranium in situ by exciting neutrons off the uranium atoms and measuring them on a sensor on the tool.

Qualified Person Statement

The scientific and technical information in this release has been reviewed and approved by Dr. Rob Bowell, a chartered chemist of the Royal Society of Chemistry, a chartered geologist of the Geological Society of London, and a Fellow of the Institute of Mining, Metallurgy and Materials, who is an independent Qualified Person under the terms of NI 43-101 for uranium deposits. Dr. Bowell has verified the data disclosed in this news release.

Notes:

  1. See: Technical report title, "NI 43-101 Technical Report on a Preliminary Economic Assessment of the Mutanga Uranium Project in Zambia", dated November 30, 2017 (the "PEA"), prepared by Qualified Persons from SRK Consulting (UK) Limited.

  2. The PEA is considered preliminary in nature and includes Inferred Mineral Resources that are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as Mineral Reserves. Mineral Resources that are not Mineral Reserves have not yet demonstrated economic viability. Due to the uncertainty that may be attached to Inferred Mineral Resources, it cannot be assumed that all, or any part of an Inferred Mineral Resource, will be upgraded to an Indicated or Measured Mineral Resource as a result of continued exploration or Mineral Reserves once economic considerations are applied; therefore, there is no certainty that the production profile concluded in the PEA will be realized.

About GoviEx Uranium Inc.

GoviEx is a mineral resource company focused on the exploration and development of uranium properties in Africa. GoviEx's principal objective is to become a significant uranium producer through the continued exploration and development of its flagship mine-permitted Madaouela project in Niger, its mine-permitted Mutanga project in Zambia, and its multi-element Falea project in Mali.

Contact Information

Isabel Vilela
Head of Investor Relations and Corporate Communications
Tel: +1-604-681-5529
Email: info@goviex.com
Web: www.goviex.com

Cautionary Statement Regarding Forward-Looking Statements

This news release may contain forward-looking information within the meaning of applicable securities laws. All information and statements other than statements of current or historical facts contained in this news release are forward-looking information.

Forward-looking statements are subject to various risks and uncertainties concerning the specific factors disclosed here and elsewhere in GoviEx's periodic filings with Canadian securities regulators. When used in this news release, words such as "will", "could", "plan", "estimate", "expect", "intend", "may", "potential", "should," and similar expressions, are forward- looking statements. Information provided in this document is necessarily summarized and may not contain all available material information.

Forward-looking statements include those related to: i) the nature, method and timing of any exploration, development and/or mining operations at the Mutanga project or Madaouela project; ii) the upgrading the inferred mineral resources associated with the Dibwe East deposit to indicated mineral resources; the timing and content of the planned feasibility study on the Mutanga project or Madaouela project; (iii) the expectation that GoviEx will be able to further optimize the Madaouela project; and (iv) new Mining Code in Niger,is not expected to have major impacts on the Madaouela feasibility study.

Although GoviEx believes the expectations reflected in such forward-looking statements are based on reasonable assumptions, it can give no assurances that its expectations will be achieved. Such assumptions, which may prove incorrect, include the following: (i) that GoviEx will be successful in its exploration and development plans for all its projects; (ii) that all the service providers engaged to conduct the drill programme at Mutanga and optimization work at Madaouela will be able and willing to complete their works as agreed and expected; (iii) that the planned works GoviEx's projects will be completed as planned and meet GoviEx's objectives; (iv) that the new mining Code in Niger will not significantly impact the Madaouela project and iv) that the price of uranium will remain sufficiently high and the costs of advancing GoviEx's mining projects will remain sufficiently low so as to permit GoviEx to implement its business plans in a profitable manner.

Factors that could cause actual results to differ materially from expectations include (i) the inability or unwillingness of the service providers to complete their works on GoviEx's projects as agreed and expected; (ii) the inability of GoviEx to successfully complete the exploration and development milestones that are the conditions of the reinstatement of the Chirundu Mining License ; (iii) potential delays due to COVID-19 restrictions; (iv) ) additional changes to the new Mining Code in Niger that affect the Madaouela project; (v) the failure of GoviEx's projects, for technical, logistical, labour-relations, or other reasons; (vi) a decrease in the price of uranium below what is necessary to sustain GoviEx's operations; (viian increase in GoviEx's operating costs above what is necessary to sustain its operations; (viii) accidents, labour disputes, or the materialization of similar risks; (ix) a deterioration in capital market conditions that prevents GoviEx from raising the funds it requires on a timely basis; and (x) generally, GoviEx's inability to develop and implement a successful business plan for any reason.

In addition, the factors described or referred to in the section entitled "Risks Factors" in the MD&A for the year ended December 31, 2021, of GoviEx, which is available on the SEDAR website at www.sedar.com, should be reviewed in conjunction with the information found in this news release.

Although GoviEx has attempted to identify important factors that could cause actual results, performance, or achievements to differ materially from those contained in the forward-looking statements, there can be other factors that cause results, performance, or achievements not to be as anticipated, estimated, or intended. There can be no assurance that such information will prove to be accurate or that management's expectations or estimates of future developments, circumstances, or results will materialize. As a result of these risks and uncertainties, no assurance can be given that any events anticipated by the forward-looking information in this news release will transpire or occur, or, if any of them do so, what benefits that GoviEx will derive therefrom. Accordingly, readers should not place undue reliance on forward-looking statements. The forward-looking statements in this news release are made as of the date of this news release, and GoviEx disclaims any intention or obligation to update or revise such information, except as required by applicable law.

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GoviEx Uranium Statement on Recent Coup in Niger

GoviEx Uranium Statement on Recent Coup in Niger

In light of the recent coup d'état in Niger, GoviEx Uranium Inc. (TSXV: GXU) (OTCQB: GVXXF) wishes to assure its stakeholders, partners, and the people of Niger of the following:

GoviEx's operations in Niger remain unaffected by the current situation. We are committed to ensuring that our activities continue as normal, both at our Project site and our office in Niamey.

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GoviEx Announces Substantial Increase of Open-Pit Mineral Resources at Its 100% Owned Muntanga Uranium Project in Zambia

GoviEx Announces Substantial Increase of Open-Pit Mineral Resources at Its 100% Owned Muntanga Uranium Project in Zambia

  • Measured & Indicated resources nearly tripled, now representing 74% from 29% of total resources.
  • Total in-pit constrained resources increased 18%.
  • Grade improvement in all mineral categories.
  • Current drilling targeting further potential in pit resource upgrade to measured and/or indicated.
  • Results fully support continued feasibility study.

GoviEx Uranium Inc. (TSXV: GXU) (OTCQX: GVXXF) ("GoviEx or the "Company") is pleased to announce an updated Mineral Resource Estimate ("MRE") for its wholly owned, mine permitted Muntanga Uranium Project in Zambia (the "Muntanga Project"). The Muntanga Project consists of three mining permits that cover some 720km2, and contains five deposits: Dibbwi, Dibbwi East, Muntanga, Gwabi and Njame.

Daniel Major, CEO of GoviEx commented: "Our drilling campaigns in 2021 and 2022 have led to a significant update in the Muntanga mineral resource estimate. This progress is characterized by a notable growth in in-pit resources, a substantial conversion of inferred resources into the Indicated category, and an overall rise in uranium grades. What's more exciting is that this upward trajectory in resource growth persists even under lower uranium prices, such as the USD50/lb used in our Preliminary Economic Assessment( PEA)1. There is also additional potential for further upgrading of inferred resources, thereby expanding the resources that can be included in the feasibility study. These are very promising results and will be integrated into our ongoing feasibility study."

The 2023 updated MRE is the result of extensive infill drilling, including 8,010 metres drilled in 2021 and a further 19,990 metres drilling in 2022, predominately on the Dibbwi East deposit, to further delineate the deposit and convert inferred resources to the indicated category. The mineral resource update included a comprehensive reassessment of previous work and a revised correlation between down-hole radiometric probe data and chemical assays used to convert down-hole radiometric data into equivalent uranium grades (eU3O8) for mineral resource estimation.

Table 1.0 Comparison between 2017 & 2023 Constrained Mineral Resource Estimates

Constrained Mineral Resource Constrained Mineral Resource % Change
20172023
Tonnes (Mt)eU3O8 Grade (ppm)eU3O8 (Mlb) Tonnes (Mt)eU3O8 Grade (ppm)eU3O8 (Mlb) Tonnes (Mt)eU3O8 Grade (ppm)eU3O8 (Mlb)
Measured & Indicated 16.1735312.5942.5935933.7163%2%168%
Inferred 38.8229425.1614.9533010.88-61%12%-57%

 

Based on the USD50/lb U3O8, used to define the mining schedule in the 2017 PEA, constrained total pit resources are 36.5 Mlb eU3O8, comprising 34 Mt at 374 ppm eU3O8 for 28.4 Mlb in measured and indicated and 11 Mt at 348 ppm eU3O8 for8.1 Mlb of inferred, highlighting the robustness of the mineral resources at Muntanga. With the quality of the resource estimate improved, higher M&I, higher grade and a notable increase in estimated resources within the constrained open-pit area, we are optimistic that the updated MRE will be favourable to the project economics previously estimated for Muntanga in the PEA, and especially as the ongoing drilling is targeting conversion of more inferred resources into indicated resources.

As per the regulations applicable in 2017 when the Company released its NI 43-101 Technical Report1, the MRE reported did not need to be constrained by pit shells based on any particular uranium price, as almost all mineralisation at the time occurred within 125 m of surface with uranium grades that were, in general, considered to have a reasonable prospect for eventual economic extraction ("RPEEE") by open pit mining. The cut-off grade used for reporting the 2017 MRE was 100 ppm eU3O8.

The 2023 MRE is disclosed including an additional constraint applied to comply with the RPEEE and is accordingly reported within a constraining open-pit shell based on a uranium selling price of USD70/lb U3O8 and a 100 ppm eU3O8 cut-off grade. The updated 2023 MRE is presented in Table 3.0.

To facilitate a comparison between the 2023 and 2017 MRE, Table 2.0 below provides an assessment on the impact of a constraining open-pit shell based on uranium selling price of USD70/lb U3O8 and a 100 ppm eU3O8 cut-off grade on the 2017 MRE.

Table 2.0 Comparison of 2017 unconstrained and constrained mineral resources

Unconstrained Mineral Resource
2017
Constrained Mineral Resource
2017
Tonnes (Mt)eU3O8 Grade (ppm)eU3O8 (Mlb) Tonnes (Mt)eU3O8 Grade (ppm)eU3O8 (Mlb)
Measured & Indicated21.631815.116.235312.6
Inferred74.627344.938.829425.2

 

The 2017 constrained mineral resources are based on a fixed uranium price, and should uranium prices increase, a conversion of additional material into a constrained mineral resource would be anticipated.

Based on the drilling completed in 2021 and 2022, an updated mineral resource estimate has been prepared by SRK Consulting (Canada) Inc. ("SRK"). The Mineral Resource is that portion of the resource estimate which has been constrained within an open-pit shell, considering reasonable mining, processing and general and administrative cost, geotechnical parameters and processing recoveries. SRK considers that the material reported as a Mineral Resource fulfils the requirement by the CIM Guidelines of having a RPEEE through open pit mining.

A summary of the Mineral Resources for all deposits comprising the Muntanga Project are presented in Table 3.0 below.

Table 3.0Mineral Resource Statement*, Muntanga Uranium Project, Zambia, effective date of March 31, 2023

ClassificationDepositTonnesU3O8 GradeU3O8
(Mt)(ppm)Mlb
MeasuredGwabi1.12540.6
Njame2.23741.8
IndicatedMuntanga7.53605.9
Dibbwi3.12551.8
Dibbwi East25.237420.8
Gwabi2.73742.2
Njame0.83210.6
     Total M&I42.635933.7
InferredMuntanga4.03192.8
Dibbwi0.62500.3
Dibbwi East9.13446.9
Gwabi0.22790.1
Njame1.13260.8
     Total Inferred15.033010.9

 

*Notes:

  1. The effective date of the mineral resource statement is March 31, 2023. The QP for the estimate is Cliff Revering, P.Eng., an employee of SRK Consulting (Canada) Inc.
  2. Mineral resources are prepared in accordance with CIM Definition Standards (CIM, 2014) and the CIM estimation of Mineral Resources and Mineral Reserves Best Practise Guidelines (CIM, 2019).
  3. Mineral Resources are reported at a cut-off grade of 100 ppm eU3O8.
  4. Mineral resources are constrained within an optimized pit shell using a uranium price of USD70/lb U3O8, mining costs of USD2.90/t, processing costs of USD8.00/t ore, additional ore mining costs of USD0.50/t ore, G&A costs of USD1.50/t ore, royalty of 5% on U3O8 price and a discount rate of 8%.
  5. Mineral resources are not mineral reserves and do not have demonstrated economic viability. There is no certainty that all or any part of the mineral resources will be converted into mineral reserves in the future.
  6. All figures have been rounded to reflect the relative accuracy of the estimate.

Analysis of the open-pit shell used to constrain the MRE highlights that there are still inferred category mineral resources that have the potential to be converted to indicated resources with additional drilling. That would enable them to be included in the economics related to any future feasibility study, as the examples below indicate. This work is currently under way as part of this year's previously announced drilling program.

Figures 1&2: Sections from Dibbwi East showing resource classification and MRE Shell

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Fig 1

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Fig 2

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Figure 3 - Dibbwi East drillhole and cross-section location map

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Fig 3

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In conclusion, the updated MRE for the Muntanga Project is a testament to GoviEx's strategic focus and commitment to maximizing the potential of its vast resource base. As the only uranium developer with two African projects ready to begin development and near-term production, GoviEx is well placed to benefit from future growth.

Qualified Person Statement
The technical information and associated data in this release has been reviewed, verified and approved by Cliff Revering, P.Eng., who is an independent Qualified Person under the terms of NI 43-101 for uranium deposits.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

About GoviEx Uranium Inc.
|GoviEx is a mineral resource company focused on the exploration and development of uranium properties in Africa. GoviEx's principal objective is to become a significant uranium producer through the continued exploration and development of its flagship mine-permitted Madaouela Project in Niger, its mine-permitted Mutanga Project in Zambia, and its multi-element Falea Project in Mali.

Contact Information
Isabel Vilela, Head of Investor Relations and Corporate Communications
Tel: +1-604-681-5529
Email: info@goviex.com Web: www.goviex.com

Cautionary Statement Regarding Forward-Looking Statements
This news release contains forward-looking information within the meaning of applicable securities laws. All information and statements other than statements of current or historical facts contained in this news release are forward-looking information.

Forward-looking statements are subject to various risks and uncertainties concerning the specific factors disclosed here and elsewhere in GoviEx's periodic filings with Canadian securities regulators. When used in this news release, words such as "will", "could", "plan", "estimate", "expect", "intend", "may", "potential", "should," and similar expressions, are forward-looking statements. Information provided in this document is necessarily summarized and may not contain all available material information.

Although the Company believes the expectations reflected in such forward-looking statements are based on reasonable assumptions, it can give no assurances that its expectations will be achieved. Such assumptions, which may prove incorrect, include the following: (i) that the Company will be successful in its exploration and development plans for all its projects; (ii) that projected low capital expenditures for the mine-permitted projects will remain unchanged or improve; (iii) that the planned exploration and development programs on GoviEx's projects will be completed as planned and meet GoviEx's objectives; and (iv) that the price of uranium will remain sufficiently high and the costs of advancing the Company's projects will remain sufficiently low so as to permit GoviEx to implement its business plans in a profitable manner.

Factors that could cause actual results to differ materially from expectations include (i) the risk that the Company may not be able to fully realize the anticipated benefits of the updated MRE and the conversion of inferred resources to indicated resources; (ii) the risk that the ongoing feasibility study may not yield the expected results; (iii) the risk that the current drilling program may not result in further potential resource upgrades; (iv) potential delays or changes in the Company's development plans due to various factors, including COVID-19 restrictions; (v) the failure of the Company's projects, for technical, logistical, labour-relations, or other reasons; (vi) a decrease in the price of uranium below what is necessary to sustain the Company's operations; (vii) an increase in the Company's operating costs above what is necessary to sustain its operations; (viii) accidents, labour disputes, or the materialization of similar risks; (ix) a deterioration in capital market conditions that prevents the Company from raising the funds it requires on a timely basis; and (x) generally, the Company's inability to develop and implement a successful business plan for any reason.

In addition, the factors described or referred to in the section entitled "Risks Factors" in the MD&A for the year ended December 31, 2022, of GoviEx, which is available on the SEDAR website at www.sedar.com, should be reviewed in conjunction with the information found in this news release.

Although GoviEx has attempted to identify important factors that could cause actual results, performance, or achievements to differ materially from those contained in the forward-looking statements, there can be other factors that cause results, performance, or achievements not to be as anticipated, estimated, or intended. There can be no assurance that such information will prove to be accurate or that management's expectations or estimates of future developments, circumstances, or results will materialize. As a result of these risks and uncertainties, no assurance can be given that any events anticipated by the forward-looking information in this news release will transpire or occur, or, if any of them do so, what benefits that GoviEx will derive therefrom. Accordingly, readers should not place undue reliance on forward-looking statements. The forward-looking statements in this news release are made as of the date of this news release, and GoviEx disclaims any intention or obligation to update or revise such information, except as required by applicable law.


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Global Atomic Corporation ("Global Atomic" or the "Company"), (TSX: GLO) (OTCQX: GLATF) (FRANKFURT: G12) reports that the Republic of Niger announced its intention to terminate its military cooperation agreement with the United States which has a large military base in Niger.  It remains unclear if a withdrawal of US troops will be required by Niger as the US military base is used to patrol a larger section of the Sahel region beyond Niger's borders.

Global Atomic - TSX30 - OTC (CNW Group/Global Atomic Corporation)

Stephen G. Roman , President and CEO commented, "With the situation in Niger being fluid, in addition to current advanced discussions with project lenders, the Company is also pursuing other financing strategies to meet its project funding requirements.   Given strong third-party interest in Global Atomic's high-grade uranium project and our plans for near-term production, there are many groups interested in funding the Dasa Project.  The Company will assess these options, monitor events in Niger and keep shareholders appraised."

About Global Atomic

Global Atomic Corporation ( https://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 has identified three additional deposits in Niger additional to 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. Mine excavation began in Q1 2022, and commissioning of the processing plant is expected at the end of 2025/ beginning 2026.

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, 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 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.

Global Atomic Corporation (CNW Group/Global Atomic Corporation)

SOURCE Global Atomic Corporation

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