TORONTO, May 6, 2024
/CNW/ - Global Atomic Corporation ("Global Atomic" or the
"Company"), (TSX: GLO) (OTCQX: GLATF) (FRANKFURT: G12) is pleased
to report that on May 3, 2024,
Niger's Mines Minister,
Commissaire Colonel Ousmane Abarchi,
joined local dignitaries, including the Agadez Region Governor and
local community authorities as well as SOMIDA employees for a tour
the Dasa Project. The visit was part of the Minister's tour
of significant exploration and mining projects in the Agadez Region
of northern Niger.
The high-level delegation visit included:
- a tour of underground development now exceeding 1,000 meters,
with 5 levels of development underway to access the orebody and
prepare stopes for mining
- a review of the mine design and current 23-year mine plan
- the official ceremony to commence earthworks in preparation for
plant construction
- a review of the plant design and timelines for plant
commissioning at the end of 2025
- a review of ESG activities and community engagement undertaken
since 2008 in the region
- the camp expansion area built to accommodate over 500 employees
and contractors
Global Atomic President and CEO, Stephen
G. Roman commented, "We were honoured to host the Mines
Minister and other dignitaries at our Dasa
operation. The Minister expressed his continuing support
for the Project and confirmed the Government's recognition of
Dasa's strategic value and near-term economic benefit that will be
realized in the form of local employment, taxes and
royalties."
"Our relationship with Niger Government officials since field
operations began in 2008 has always been positive. The Government
continues to offer support in many ways including security in the
region and assistance with expediting logistics to equip our mining
team with supplies and consumables to maintain a high pace of mine
development. The underground development has continued to
progress on schedule. We value the Government's support as we
enter this next significant stage to construct our processing
plant."
During his tour of the Dasa Project Niger's Mines Minister,
Commissaire Colonel Ousmane Abarchi,
stated, "We came here, we visited the mine, and we launched the
earth breaking operations for the mill construction. Dasa is a
reality everyone can see. We thank you all. We are
supportive of the SOMIDA team and Global Atomic. This project is
very important for us; as a government and as a shareholder. We
want Dasa to be the start of new Niger mining practice with expectations on
State Income, Employment and Environment management."
Below are photos of the tour, which will be available with
videos on the Company's website www.globalatomiccorp.com.
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 is currently developing the fully
permitted, large, high grade Dasa Deposit, discovered in 2010 by
Global Atomic geologists through grassroots field exploration. The
"First Blast Ceremony" occurred on November
5, 2022, and commissioning of the processing plant is
scheduled for Q1, 2026. Global Atomic has also identified 3
additional uranium deposits in Niger that will be advanced with further
assessment work.
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 recycling 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 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