Energy

 Global Atomic Corporation ("Global Atomic" or the "Company") (TSX: GLO) (OTCQX: GLATF) (Frankfurt: G12) is pleased to report on the successful completion of a Pilot Plant Program demonstrating the viability of the uranium recovery process detailed in the May 2020 Preliminary Economic Assessment (PEA) for the Dasa Project located in the Republic of Niger West Africa .

Global Atomic Corporation (CNW Group/Global Atomic Corporation)

The Pilot Plant was erected in August 2020 within the Process Research Ortech (PRO) facility in Canada and ran in a steady-state fashion over a 3-month period to process ore samples shipped from the Dasa Project. The ore samples were representative of the first 5 years of mining expected in the Phase 1 Dasa mine development plan. Samples representing the first 20 months of mining were processed through a first pilot campaign and had leach uranium recoveries of 92.8% at acid rates of 80 kg/t of ore. Deeper ore was then processed in a second campaign at the same acid rates but resulted in higher leach recoveries of 94.6%. On the deepest ore processed in the third campaign, acid rates of 80 kg/t of ore resulted in 97.8% uranium recovery. Given the increases in recoveries with increasing depth, acid rates were reduced to 70, 60, and 50 kg/t ore in campaign 3 with resulting uranium recoveries of 95.1%, 94.3%, and 94.1%, respectively.  These high recoveries at low acid rates for deeper ore are attributed to a reduction in organic matter content with increasing ore depth.

Solvent extraction based on the latest sodium carbonate stripping technology combined with a uranyl peroxide precipitation process resulted in near quantitative conversion of uranium from the leach into final uranyl peroxide yellow cake product. The yellowcake was dried or calcined to produce UO 4 or U 3 O 8 , respectively, with low impurity levels without requiring further purification to produce these varying forms of saleable uranium concentrate.

Stephen G. Roman , President and CEO of Global Atomic, said, "The results of this Pilot Plant Study confirmed better than expected metallurgical results for the Dasa ore. With the recent granting of our required operating permits by the Republic of Niger , confirmation of the metallurgical process to recover uranium was a key milestone which we have now achieved. Our Feasibility Study is on track for completion in Q3 and we will now begin tendering for mill components to finalize costs.  We are confident in our plans to start building the Dasa Mine in early 2022. "

Dr. Santiago Faucher , President at Insight R&D Inc., commented, " The Pilot Plant was stable and produced a high-quality uranyl peroxide and U 3 O 8 product under closed loop conditions. Through its optimization we achieved over 94% uranium recoveries at leach acid consumption rates as low as 50 kg of sulfuric acid per tonne of ore. The results surpassed the May 2020 PEA recoveries of 92% at 80 kg of sulfuric acid per tonne. The work taught us how to run the process and has laid a strong technical foundation for further metallurgical plant improvements that will be carried through to the production plant design. "

The Global Atomic uranium recovery process utilizes pugging followed by solvent extraction and precipitation to produce high-grade uranyl peroxide at low acid consumption rates. Similar pugging processes have been used in Niger for over 50 years to extract uranium at Orano Mining's Cominak and Somaïr operations, located 100 kilometers north of the Dasa Project.

Insight and PRO were supported by a Technical Advisory Committee who reviewed and advised on the process development work. This committee included Stephen G. Roman , President & CEO of Global Atomic as well as Ron Halas , COO, Russell Bradford , Principal of Jem-Met Plc, an Australian metallurgical consultant well known in the uranium industry and Fergus Kerr , P.Eng., the former General Manager of Denison's Elliot Lake operations.

Global Atomic congratulates Dr. Faucher and the PRO team for delivering an excellent result in this study which further enhances the Dasa Project economics and advances the development of the Project. These results will now be incorporated into the Feasibility Study, scheduled for release by the end of Q3, 2021.

Technical Information
The scientific and technical information contained in this news release were prepared by Dr. Faucher and has been reviewed and approved by Dr. Halim and Dr. Lakshmanan.  Dr. Lakshmanan is an independent Qualified Persons ("QP"), as defined under NI 43-101.

Process Research Ortech (formerly known as the Ontario Research Council) set up the Pilot Plant under the direction of Dr. Lakshmanan and Dr. Abdul Halim and supervised by Global Atomic's consultant, Dr. Santiago Faucher .  Dr. Faucher is a metallurgist and process designer, with over 25 years of experience developing processes for well know companies including Xerox, Fuji-Xerox, BHP-Billiton, INCO, Northam Platinum, Mitsubishi, and Samsung. Dr. Halim has over 12 years of experience in developing and optimizing metallurgical process flowsheets to recover valuable metals including uranium and rare earths from different resources while working at PRO, SGS-Canada and FLSmith- USA . Dr. Lakshmanan has over 45 years of experience developing and designing uranium recovery processes, notably including those of Eldorado Nuclear's Key Lake (now Cameco), COGEMA's Cigar Lake (now Cameco and Orano), Canada Wide Mines Ltd.'s Midwest (now Denison), and Minatco's McLean Lake , all of which reached full-scale production.

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 and final design in support of the Company's Feasibility Study is on-going.

Global Atomics' Base Metals Division holds a 49% interest in the Befesa Silvermet Turkey, S.L. ("BST") Joint Venture, which operates a new, state of the art 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 and Asia .

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 Atomic's development potential and timetable of its operating, development and exploration assets; Global Atomic's ability to raise additional funds necessary; the future price of uranium; the estimation of mineral reserves and mineral resources; conclusions of economic evaluation; the realization of mineral reserve estimates; the timing and amount of estimated future production, development and exploration; costs 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", "targets", "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 statements that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". All information contained in this news release, other than statements of current and historical fact, is forward looking information. Forward-looking statements 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 as of the date such statements are made. Although management of Global Atomic has attempted to identify important factors that could cause actual results to differ materially from those contained in 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 on forward-looking statements. Global Atomic does not undertake to update any forward-looking statements, except in accordance with applicable securities laws. Readers should also review the risks and uncertainties sections of Global Atomic's annual and interim MD&As.

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

SOURCE Global Atomic Corporation

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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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(TheNewswire)

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