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All 20 holes of Winter program intersect wide mineralization

Fission Uranium Corp. (" Fission " or " the Company ") is pleased to announce that assays from its winter 2021, resource expansion drill program have confirmed high-grade mineralization on multiple lines between line 900E and line 1125E. All 20 holes returned wide intercepts in multiple stacked intervals in each hole, with 15 holes hitting high-grade intervals. The program targeted areas of inferred category mineralization with the goal of upgrading to indicated category for inclusion in the upcoming feasibility study. Of particular note, hole PLS21-602 (line 915E) intersected 69.5m of total composite uranium mineralization in multiple stacked intervals, including intervals such as 4.5m @ 18.63% U 3 O 8 in 14.5m @ 6.11% U 3 O 8 .

Fission Uranium Corp. Logo (CNW Group/Fission Uranium Corp.)

Ross McElroy , President and CEO for Fission, commented, "These successful, robust drill results are a strong validation of our growth strategy for the deposit. Specifically, they have the potential to expand the size and quality of the resource from the R780E zone to be used in our upcoming feasibility study. "

Program Details and Assay Highlights Include:

PLS21-602 (line 915E)

  • 69.5m of total composite uranium mineralization with key Intercepts including:
    • 14.5m @ 6.11% U 3 O 8 (265.0 to 279.5m ), including:
      • 4.5m @ 18.63% U 3 O 8 (271.5 to 276.0m )

PLS21-600 (line 900E)

  • 62.5m of total composite uranium mineralization with key Intercepts including:
    • 11.5m @ 4.62% U 3 O 8 ( 259.5m to 271.0m ), including:
      • 5.0m @ 9.27% U 3 O 8 ( 263.5m to 268.5m )

PLS21-597 (line 900E)

  • 70.0m of total composite uranium mineralization with key Intercepts including:
    • 16.0m @ 1.12% U 3 O 8 ( 243.5m to 259.5m ), including:
      • 1.0m @ 7.53% U 3 O 8 ( 248.5m to 249.5m )

PLS21-607 (line 1065E)

  • 40.0m of total composite uranium mineralization with key Intercepts including:
    • 17.0m @ 2.97% U 3 O 8 ( 220.5m to 237.5m ), including:
      • 2.5m @ 14.67% U 3 O 8 ( 224.5m to 227.0m )

R780E Winter 2021 Infill Drilling: In addition to its major, Indicated category resource, the R780E zone has, at a cut-off of 0.25% U 3 O 8 , an Inferred resource of 10.1 Million lbs U 3 O 8 in 549,000 tonnes.  A large portion of this Inferred resource is situated east of line 900E between a vertical depth of 200m to 350m below surface in the hanging wall and footwall of the mineralized zone. This area was prioritized for the winter drill campaign of infill and step-out drilling.

Twenty holes in 7,147.8m targeted lenses between lines 900E and 1125E, ensuring intersection spacing is less than 15m x 20m (horizontal / vertical), which is required for Indicated classification. Drilling in this area was assumed to have the additional benefit of intersecting multiple, stacked, subvertical mineralized lenses, which allows for multiple intersections with a single drill hole, and the drill campaign did in fact confirm this.

All twenty holes successfully intersected their targets and data will be used to remodel this area of the R780E resource, potentially increasing the amount of Indicated classified resource.   The remodeled resource will be used for the feasibility study.

Table 1: R780E Zone - Composited Mineralized Intervals from Drill Holes

Zone

Hole ID

Grid
Line

Azimuth

Dip

From (m)

To (m)

Interval
(m)

U3O8
(wt%)

R780E

PLS21-592A

1125E

335

-67.1

197.50

198.50

1.00

0.18






215.50

216.00

0.50

0.06






220.50

251.00

30.50

0.95






220.50


231.50

11.00

1.76






239.00

241.00

2.00

2.81


PLS21-593

1050E

335

-67.4

230.50

243.00

12.50

0.14






249.00

251.00

2.00

0.11






263.50

265.00

1.50

0.53






269.50

273.00

3.50

0.06






278.00

279.00

1.00

0.14






293.50

305.50

12.00

0.23






295.00

295.50

0.50

1.93






343.50

344.00

0.50

0.10


PLS21-594

1095E

337

-70.0

155.00

156.00

1.00

0.23






158.50

159.50

1.00

0.06






160.50

161.50

1.00

0.06






165.00

165.50

0.50

0.18






196.00

198.50

2.50

1.12






202.50

203.50

1.00

0.12






214.00

215.00

1.00

0.17






266.50

267.00

0.50

0.11


PLS21-595

1050E

337

-69.0

264.00

270.00

6.00

0.54






272.50

279.00

6.50

0.15






282.50

298.00

15.50

2.82






288.50

294.00

5.50

6.69






305.50

314.00

8.50

0.26






337.00

339.00

2.00

0.10


PLS21-596

1095E

337

-69.0

186.50

192.50

6.00

0.10






195.00

195.50

0.50

0.06






198.00

198.50

0.50

0.06






207.00

207.50

0.50

0.09






214.00

226.50

12.50

0.14






231.50

236.00

4.50

0.20






276.00

276.50

0.50

0.10






288.50

289.00

0.50

0.08






299.50

301.00

1.50

0.06






302.00

302.50

0.50

0.06






310.00

311.50

1.50

0.05






313.00

313.50

0.50

0.06


PLS21-597

900E

335

-69.6

117.00

118.50

1.50

0.10






124.50

125.50

1.00

0.10






137.50

146.00

8.50

0.14






151.50

152.00

0.50

0.06






157.00

157.50

0.50

0.13






177.50

183.50

6.00

0.89






181.00

183.50

2.50

1.89






190.50

197.50

7.00

4.79






194.50

197.00

2.50

12.23






200.00

200.50

0.50

0.07






217.00

218.00

1.00

3.58






223.00

224.00

1.00

0.22






229.00

230.00

1.00

0.40






235.00

239.00

4.00

0.79






235.00

236.00

1.00

1.84






243.50

259.50

16.00

1.12






248.50

249.50

1.00

7.53






264.50

270.00

5.50

0.10






272.50

273.00

0.50

1.39






275.50

290.00

14.50

0.32






277.00

278.00

1.00

1.31






318.00

318.50

0.50

0.34






330.50

331.00

0.50

0.06


PLS21-598

1080E

337

-68.0

191.00

191.50

0.50

0.05






192.50

193.00

0.50

0.06






196.00

197.00

1.00

0.08






205.00

205.50

0.50

0.10






219.00

219.50

0.50

0.07






222.00

222.50

0.50

0.06






279.50

280.00

0.50

0.05






294.00

295.00

1.00

0.10






298.00

302.00

4.00

0.09






306.50

307.00

0.50

0.07






321.50

322.00

0.50

0.10






348.50

351.50

3.00

0.06


PLS21-599

1080E

340

-71.0

166.00

172.50

6.50

0.08






177.00

177.50

0.50

0.07






182.00

183.00

1.00

0.07






199.50

205.00

5.50

0.15






207.50

213.50

6.00

0.09






221.00

222.50

1.50

0.11






288.50

289.00

0.50

0.08






301.50

303.50

2.00

0.09


PLS21-600

900E

337

-69.9

110.50

113.50

3.00

0.10






126.50

142.00

15.50

0.11






145.00

145.50

0.50

0.24






173.00

174.50

1.50

0.13






178.50

181.50

3.00

0.14






186.00

186.50

0.50

0.05






190.00

190.50

0.50

0.05






194.00

195.00

1.00

4.73






205.50

206.50

1.00

2.30






218.00

218.50

0.50

0.07






227.00

228.00

1.00

0.22






231.00

232.00

1.00

0.50






236.00

239.50

3.50

0.16






259.50

271.00

11.50

4.62






263.50

268.50

5.00

9.27






274.50

288.50

14.00

0.88






291.00

293.50

2.50

0.45






298.00

299.00

1.00

0.29






313.00

313.50

0.50

0.07






318.00

318.50

0.50

0.11


PLS21-601

915E

336

-70.4

119.00

120.00

1.00

0.07






123.00

123.50

0.50

0.07






125.50

126.00

0.50

0.09






128.50

133.00

4.50

0.10






146.00

147.00

1.00

0.09






164.00

183.50

19.50

1.84






164.50

168.00

3.50

3.32






179.50

180.50

1.00

16.64






186.00

197.50

11.50

0.18






193.00

193.50

0.50

1.09






204.00

213.00

9.00

0.21






238.50

258.50

20.00

0.20






261.00

262.00

1.00

0.21






269.50

271.00

1.50

0.06






297.50

300.00

2.50

0.33






305.00

305.50

0.50

0.06






317.00

320.50

3.50

0.07






375.00

376.00

1.00

0.05


PLS21-602

915E

337

-70.4

191.50

192.00

0.50

0.25






194.50

195.00

0.50

0.09






207.50

212.50

5.00

0.07






221.50

222.50

1.00

0.13






228.50

240.50

12.00

0.42






239.00

240.00

1.00

2.34






246.50

251.50

5.00

0.11






265.00

279.50

14.50

6.11






271.50

276.00

4.50

18.63






286.50

293.00

6.50

0.56






296.50

307.00

10.50

0.28






299.00

300.00

1.00

1.47






309.50

321.00

11.50

0.08






342.50

344.00

1.50

0.06






346.50

347.50

1.00

0.22


PLS21-603

915E

339

-69.9

99.50

100.00

0.50

0.06






135.50

139.50

4.00

0.26






166.00

166.50

0.50

0.11






177.50

178.50

1.00

0.26






183.00

185.00

2.00

0.12






213.00

214.00

1.00

1.22






221.00

221.50

0.50

0.06






231.00

235.00

4.00

0.10






240.00

240.50

0.50

0.17






245.50

249.50

4.00

0.21






270.00

274.00

4.00

1.37






270.00

270.50

0.50

6.38






279.50

288.00

8.50

0.24






283.00

283.50

0.50

2.16






292.00

292.50

0.50

0.05






295.00

297.50

2.50

0.12






299.50

300.00

0.50

0.39






303.00

303.50

0.50

0.08






311.00

318.00

7.00

0.10






345.50

346.00

0.50

0.13


PLS21-604

915E

339

-69.9

172.00

186.50

14.50

0.07






189.00

190.00

1.00

0.14






193.00

193.50

0.50

0.11






235.50

237.00

1.50

0.08






259.50

260.50

1.00

0.12






273.00

273.50

0.50

0.11






283.50

284.00

0.50

0.05






287.50

294.00

6.50

0.07






298.00

302.00

4.00

0.31






323.00

324.00

1.00

0.16






326.50

327.00

0.50

0.13






332.00

333.50

1.50

0.17






336.50

337.50

1.00

0.11


PLS21-605

930E

335

-67.8

147.00

147.50

0.50

0.09






150.50

151.00

0.50

0.09






152.00

152.50

0.50

0.07






155.50

156.50

1.00

0.11






163.50

183.00

19.50

0.07






207.00

207.50

0.50

0.14






210.50

212.00

1.50

0.07






221.00

224.00

3.00

0.11






247.50

257.00

9.50

0.64






248.50

249.50

1.00

4.43






262.50

263.50

1.00

1.62






270.50

278.00

7.50

3.54






282.00

284.50

2.50

0.21






287.00

293.50

6.50

0.56






287.00

288.00

1.00

2.63






299.50

303.50

4.00

0.14






309.00

309.50

0.50

0.10






313.00

313.50

0.50

0.06






320.50

321.00

0.50

0.06






323.50

324.00

0.50

0.95






337.00

338.50

1.50

0.21






377.50

378.00

0.50

0.07


PLS21-606

900E

336

-68.9

103.00

104.00

1.00

0.14






118.50

119.50

1.00

0.07






141.50

142.00

0.50

0.10






146.00

168.00

22.00

0.67






150.50

157.00

6.50

1.88






178.50

198.00

19.50

0.17






190.50

191.00

0.50

1.46






203.50

205.00

1.50

0.08






214.50

215.00

0.50

0.28






230.00

235.00

5.00

0.17






237.50

238.00

0.50

0.13






240.50

272.50

32.00

0.37






262.00

264.50

2.50

0.92






280.00

284.00

4.00

0.33






286.50

287.50

1.00

0.52






291.00

292.50

1.50

0.31






316.00

317.00

1.00

0.17






327.00

328.50

1.50

0.14


PLS21-607

1065E

339

-75.6

190.50

194.50

4.00

0.18






204.50

205.50

1.00

0.23






212.00

212.50

0.50

0.13






220.50

237.50

17.00

2.97






224.50

227.00

2.50

14.67






244.50

245.00

0.50

0.13






280.00

287.00

7.00

0.19






291.50

295.50

4.00

0.33






305.50

309.00

3.50

0.49






312.00

313.00

1.00

0.16






324.00

325.50

1.50

0.08


PLS21-608

900E

336

-69.9

113.50

114.50

1.00

0.08






117.00

119.00

2.00

0.08






176.50

181.00

4.50

0.13






190.50

191.00

0.50

0.06






193.50

195.00

1.50

0.06






201.00

208.00

7.00

0.08






218.50

219.50

1.00

0.08






224.00

224.50

0.50

0.05






229.00

230.00

1.00

0.10






235.50

238.50

3.00

0.44






248.50

254.50

6.00

1.64






253.50

254.50

1.00

8.66






257.00

257.50

0.50

17.90






275.50

288.00

12.50

0.68






275.50

277.00

1.50

1.80






279.50

281.00

1.50

2.59






290.50

292.50

2.00

0.07






295.00

299.00

4.00

0.06






302.50

304.00

1.50

0.10






320.00

329.00

9.00

0.08






344.50

345.50

1.00

0.18


PLS21-609

1125E

337

-75.4

215.50

219.50

4.00

0.19






224.00

236.00

12.00

0.29






226.50

228.00

1.50

1.52






240.50

241.50

1.00

0.06






243.00

245.00

2.00

0.05






253.00

254.00

1.00

0.08






256.00

257.00

1.00

0.06






270.00

272.00

2.00

0.09






284.50

286.00

1.50

0.06






307.50

308.50

1.00

0.11






311.50

312.00

0.50

0.07






316.50

317.00

0.50

0.30


PLS21-610

915E

334

-70.1

171.00

171.50

0.50

0.06






181.50

183.50

2.00

0.09






187.00

189.50

2.50

0.07






192.00

199.00

7.00

0.11






202.00

204.00

2.00

0.07






231.00

231.50

0.50

1.21






237.50

239.00

1.50

1.98






245.00

246.50

1.50

0.08






252.50

253.50

1.00

0.06






255.50

261.00

5.50

0.05






283.50

293.50

10.00

0.32






286.00

286.50

0.50

4.02






296.00

303.00

7.00

0.25






309.00

316.50

7.50

0.12






319.50

321.00

1.50

0.14






327.50

336.50

9.00

0.08






357.00

357.50

0.50

0.05


PLS21-611

1095E

341

-69.9

197.00

199.50

2.50

0.09






208.00

209.00

1.00

0.14






222.00

234.50

12.50

0.90






224.50

227.50

3.00

1.53






230.50

233.00

2.50

1.96






290.50

291.50

1.00

0.11






294.00

295.00

1.00

0.09

Composite Parameters

  1. Minimum Thickness: 0.50m
  2. Grade Cut-Off: 0.05m U 3 O 8 (wt%)
  3. Maximum Internal Dilution: 2: 00m

Composited % U 3 O 8 mineralized intervals are summarized in Table 1. Samples from the drill core are split in half sections on site. Where possible, samples are standardized at 0.5m down-hole intervals. One-half of the split sample is sent to SRC Geoanalytical Laboratories (an SCC ISO/IEC 17025: 2005 Accredited Facility) in Saskatoon, SK for analysis which includes U 3 O 8 (wt %) and fire assay for gold, while the other half remains on site for reference. All analysis includes a 63 element ICP-OES analysis and boron.  All analysis includes a 63 element ICP-OES, uranium by fluorimetry and boron. All depths reported of core interval measurements including sample and interval widths are down-hole and are not always representative of true thickness.  The orientation of the mineralized intervals tend to follow that of lithologic contacts, and generally dip steeply to the south. Within the Triple R deposit, individual zone wireframe models constructed from assay data and used in the resource estimate indicate that all 5 zones have a complex geometry controlled by and parallel to steeply south-dipping lithological boundaries as well as a preferential sub-horizontal orientation.

PLS Mineralized Trend & Triple R Deposit Summar

Uranium mineralization of the Triple R deposit at PLS occurs within the Patterson Lake Conductive Corridor and has been traced by core drilling over ~3.18 km of east-west strike length in five separated mineralized "zones" which collectively make up the Triple R deposit. From west to east, these zones are: R1515W, R840W, R00E, R780E and R1620E. Through successful exploration programs completed to date, Triple R has evolved into a large, near surface, basement hosted, structurally controlled high-grade uranium deposit.  The discovery hole was announced on November 05, 2012 with drill hole PLS12-022, from what is now referred to as the R00E zone.

The R1515W, R840W and R00E zones make up the western region of the Triple R deposit and are located on land, where overburden thickness is generally between 55 m to 100 m .  R1515W is the western-most of the zones and is drill defined to ~90 m in strike-length, ~68 m across strike and ~220 m vertical and where mineralization remains open in several directions.  R840W is located ~515 m to the east along strike of R1515W and has a drill defined strike length of ~430 m.  R00E is located ~485 m to the east along strike of R840W and is drill defined to ~115 m in strike length.  The R780E zone and R1620E zones make up the eastern region of the Triple R deposit.  Both zones are located beneath Patterson Lake where water depth is generally less than six metres and overburden thickness is generally about 50 m .  R780E is located ~225 m to the east of R00E and has a drill defined strike length of ~945 m.  R1620E is located ~210 m along strike to the east of R780E, and is drill defined to ~185 m in strike length.

The Company completed and filed a prefeasibility "PFS" study on November 07, 2019 titled "Pre-Feasibility Study on the Patterson Lake South Property Using Underground Mining Methods, Northern Saskatchewan, Canada ".  The report summarizes the Pre-Feasibility Study ("UG PFS"), which outlines an underground-only mining scenario for PLS which to date has only considered the R00E and R780E zones.  Further work, including additional drilling may provide sufficient data for future inclusion of the R1515W, R840W and R1620E zones into the Feasibility Study mine plan.

Mineralization along the Patterson Lake Corridor trend remains prospective along strike in both the western and eastern directions. Basement rocks within the mineralized trend are identified primarily as mafic volcanic rocks with varying degrees of alteration.  Mineralization is both located within and associated with mafic volcanic intrusives with varying degrees of silicification, metasomatic mineral assemblages and hydrothermal graphite. The graphitic sequences are associated with the PL-3B basement Electro-Magnetic (EM) conductor.

Patterson Lake South Property

The 31,039 hectare PLS project is 100% owned and operated by Fission Uranium Corp. PLS is accessible by road with primary access from all-weather Highway 955, which runs north to the former Cluff Lake mine and passes the nearby Nexgen Arrow deposit located 3km to the east and UEX-Areva Shea Creek discoveries located 50km to the north.

The technical information in this news release has been prepared in accordance with the Canadian regulatory requirements set out in National Instrument 43-101 and reviewed on behalf of the company by Ross McElroy , P.Geol., President and CEO for Fission Uranium Corp., a qualified person.

About Fission Uranium Corp.

Fission Uranium Corp. is a Canadian based resource company specializing in the strategic exploration and development of the Patterson Lake South uranium property - host to the class-leading Triple R uranium deposit - and is headquartered in Kelowna , British Columbia.  Fission's common shares are listed on the TSX Exchange under the symbol "FCU" and trade on the OTCQX marketplace in the U.S. under the symbol "FCUUF."

ON BEHALF OF THE BOARD

"Ross McElroy"

Ross McElroy , President and CEO

Cautionary Statement:
Certain information contained in this press release constitutes "forward-looking information", within the meaning of Canadian legislation. Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur", "be achieved" or "has the potential to". Forward looking statements contained in this press release may include statements which involve known and unknown risks and uncertainties which may not prove to be accurate. Actual results and outcomes may differ materially from what is expressed or forecasted in these forward-looking statements. Such statements are qualified in their entirety by the inherent risks and uncertainties surrounding future expectations. Among those factors which could cause actual results to differ materially are the following: risks related to the Offering, risks related to Fission's limited business history, risks related to the nature of mineral exploration and development, discrepancies between actual and estimated mineral resources, risks related to uranium market price volatility, risks related to the market value of the common shares of Fission, risks related to market conditions, risks related to the novel coronavirus (COVID-19) pandemic, including disruptions to the Company's business and operational plans, risks related to the global economic uncertainty as a result of the novel coronavirus (COVID-19) pandemic and other risk factors listed from time to time in our reports filed with Canadian securities regulators on SEDAR at www.sedar.com . The forward-looking statements included in this press release are made as of the date of this press release and the Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities legislation.

SOURCE Fission Uranium Corp.

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UEX Corporation Securityholders Approve Arrangement with Uranium Energy Corp.

(TheNewswire)

UEX Corporation

Saskatoon, Saskatchewan TheNewswire - August 16, 2022 UEX Corporation (TSX:UEX ) ( OTC:UEXCF) (" UEX " or the " Company ") is pleased to confirm that securityholders of UEX approved,  at the special meeting of UEX securityholders held earlier today (the " Meeting "), the special resolution (the " Arrangement Resolution ") in respect of a statutory plan of arrangement (the " Arrangement ") under the Canada Business Corporations Act (the " CBCA ") pursuant to which UEC 2022 Acquisition Corp., a wholly-owned subsidiary of Uranium Energy Corp. (" UEC ") will acquire all of the issued and outstanding common shares of UEX (" UEX Shares ") and in return, shareholders of UEX (" UEX Shareholders ") will receive, for each UEX Share held, 0.09 of one common share of UEC.

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UEX Announces Further Amended Arrangement Agreement with Uranium Energy Corp.

(TheNewswire)

UEX Corporation

Recommends Vote i n Favour o f UEC Arrangement

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Uranium Energy Corp and UEX Corporation Agree to Amendment to the Arrangement Agreement; Special Meeting of UEX Securityholders will Remain on Monday, August 15, 2022

(TheNewswire)

UEX Corporation

UEC Pro Forma Ownership Changes to 85.7% Compared to Previously Disclosed at 85.8% on Basic Share Basis

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Top Stories This Week: Gold Hits US$1,800, UEC and Denison Fight for UEX

Top Stories This Week: Gold Hits US$1,800, UEC and Denison Fight for UEXyoutu.be

The gold price was relatively steady this week. It pushed briefly past the US$1,800 per ounce mark midway through the period before falling back, but was ultimately able to close just above that level.

In focus is the latest US inflation data, which shows that the Consumer Price Index was flat month-on-month in July after rising 1.3 percent in June. It was up 8.5 percent year-on-year compared to June's 9.1 percent increase.

What's more, the Producer Price Index, which looks at prices for final demand products, fell 0.5 percent from June, marking its first month-on-month decrease since April 2020.

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Global Atomic Announces Q2 2022 Results

Global Atomic Corporation ("Global Atomic" or the "Company"), (TSX: GLO) (OTCQX: GLATF) (FRANKFURT: G12) announced today its operating and financial results for the three and six months ended June 30, 2022 .

HIGHLIGHTS

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Global Atomic Concludes Negotiations with the Government of Niger, forms Dasa Project Operating Company and appoints Board of Directors and Senior Management

Global Atomic Corporation ("Global Atomic" or the "Company"), (TSX: GLO) (OTCQX: GLATF) (Frankfurt: G12), is pleased to announce the incorporation of Société Minière DASA S.A. or "SOMIDA", the Company's Niger mining subsidiary under which the Dasa Uranium Project will operate. SOMIDA will be governed by a Board of Directors comprised of six representatives from the Company and three representatives of the Government of Niger .

Global Atomic Corporation Logo (CNW Group/Global Atomic Corporation)

HIGHLIGHTS:
  • Share ownership of SOMIDA will be 80% Global Atomic and 20% Government of Niger , including the 10% carried interest provided under the Niger Mining Code
  • The Niger Government will own 20% of the shares of SOMIDA and receive dividend income when paid
  • The Niger Government is obligated to contribute 10% of all capital and operating costs over the life of the mine
  • Moussa Souley, the former Managing Director of Orano's COMINAK Mine, has been appointed Managing Director of SOMIDA
  • Robert Parr , Mining Engineer, MBA, has been appointed Project Manager for Dasa

"Global Atomic Corporation would like to thank His Excellency, President Mohamed Bazoum and Madame Hadizatou Ousseini Yacouba, Minister of Mines of the Republic of Niger , for their support of the Dasa Project. We look forward to a long-term partnership in the development and operation of our outstanding new uranium mine which will benefit all Nigeriens", said Stephen G. Roman , Global Atomic's President & CEO.

"The Niger Government's decision to acquire and fund an additional 10% interest in the Dasa Project reflects their confidence in the quality of the deposit and longevity of the mine.  Uranium mining plays an important social-economic role in Niger , providing steady long-term employment and associated economic benefits including royalty payments, tax revenue at the local, regional and national levels, foreign exchange earnings and funds for regional development and local communities."

"This agreement demonstrates the Niger Government's commitment to support the Dasa Project, which will be viewed positively by our Banking Syndicate, who are currently conducting their Due Diligence review. We are now constructing the Dasa mining camp to house employees during construction and early-stage mine development. The Mine Site infrastructure is currently well advanced, with completion timed to coincide with commencement of mining operations and the collaring of the Portal, scheduled for November, 2022."

About Moussa Souley

Moussa Souley, is a Nigerien mining engineer, who from 2016 to 2021 was the Managing Director of the COMINAK Underground Mine a subsidiary of the French nuclear energy company Orano Group, located 100 kms north of the Dasa Project.  The Cominak Mine employed over 1,000 people and shut down after 50 years of mining in March 2021 .

Starting in December 2002 , Mr. Souley held several management positions with Orano (previously AREVA) in Niger and France.  Prior to that Mr. Souley worked as a mining engineer for Noranda in Canada , where he also studied mining and mineral processing engineering and received his Masters Degree in Mineral Economics from the University of Montreal .  Mr. Souley has also lectured and designed workshops at the Engineering School of Mines, Industry and Geology in Niamey, Niger .  Mr Souley speaks French and English.

About Robert Parr

Robert Parr is a mining engineer with more than 25 years' operational and technical experience across both underground and open pit operating environments.  He brings valuable and extensive experience from the significant time he has spent on Australian and international projects ( Africa , South America , Asia and Scandinavia).  Mr. Parr has recently held the roles of Chief Operating Officer for both a leading African mining contractor (SFTP Mining) and a large Colombian gold miner ( Caldas Gold ).  Prior to that he was the Project Director for constructing Sissingue Gold Mine in Ivory Coast .  He also has mine construction experience with Ranger Uranium (Rio Tinto, Australia ), Hecla Mining (San Isidora, Venezuela ), Barrick Gold (Bulyanhulu, Tanzania ) and Porgera Joint Venture (Barrick, Nui Guini ).  Mr. Parr speaks native English, conversational French and Spanish, and beginner Arabic.  He is a member of AusIMM and qualifies as a Competent Person for evaluating mining reserves.

About Global Atomic

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 Dasa Feasibility Study filed December 2021 represents approximately 20% of the current resource and estimates 45.4 million pounds U 3 O 8 production over a 12-year period to commence by the end of 2024.  Mine excavation began in Q1 2022.

Global Atomics' 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") listed on the Frankfurt exchange under 'BFSA', 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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