Mr. John Veltheer reports

ATOM ENERGY ANNOUNCES PRIVATE PLACEMENT AND DEBT SETTLEMENT

Atom Energy Inc. is proposing a non-brokered private placement for gross proceeds of $82,500 through the issuance of 500,000 common shares at a price of 16.5 cents per share. Shares to be issued for this private placement will be made available by way of an exemption to accredited investors (as defined in National Instrument 45-106, prospectus and registration exemptions) in Canada and to certain other qualified investors as the company may agree. There will be no warrants or finders' fees associated with this private placement.

Proceeds of the private placement will be allocated to working capital and other corporate purposes.

Debt settlement

The company has entered into agreements with certain of its creditors pursuant to which it has agreed to settle debt in an aggregate amount of approximately $112,139 in exchange for the issuance of an aggregate of approximately 679,630 common shares. The debt settlement will be based on a deemed price of 16.5 cents per share.

TSX Venture Exchange approval and statutory hold periods

Closing of the debt settlement and the private placement will be subject to TSX Venture Exchange approval.

All shares issued in connection with the private placement and debt settlement will be subject to a four-month-plus-one-day statutory hold period.

We seek Safe Harbor.