Mr. Stephen Roman reports

GLOBAL ATOMIC PROVIDES UPDATE

Global Atomic Corp. has provided an update on the Dasa project in the Republic of Niger. The United States of America, State Department, today officially designated that a coup d'etat did occur in the Republic in Niger at the end of July, 2023. This designation will put a temporary hold on U.S. Development Bank financing pending visibility of a return to democratic elections.

Impact on Global Atomic:

• Management has been engaged in contingency planning with parties interested in non-dilutive financing options at the operating level from groups interested in buying Yellowcake;
• Existing Yellowcake offtake agreements with utilities are unaffected by today's state department decision;
• The project remains unimpaired and enjoys full government support;
• No immediate need to finance as the company has sufficient cash on hand for the next 12 months;
• The company continues to advance revisions to its mine plan, which is expected to have significant positive impact on valuation once demonstrated in the company's updated feasibility study.

Global Atomic president and chief executive officer Stephen G. Roman commented: "The government of Niger has confirmed its full support for the Dasa project and recognizes it's a new mine that will benefit the Republic of Niger by creating new jobs and opportunities for local business and revitalize the northern region of the country. The government has offered its encouragement in the development of Dasa and all support required to accelerate construction and the start of mining operations."

Logistics issues regarding importing goods into Niger are being addressed by the Niger government which has recently given full approval for the transport of goods into the country through ports in Ghana and Togo and overland through Burkina Faso. Internal flights are expected to be restored shortly.

On the heels of signing its third offtake agreement last week, the company has received additional requests for proposal (RFP) for Yellowcake offtake agreements from utilities. Similar to the most recent agreement, the company is favouring contracts based on market pricing formulas that capture firming market fundamentals.

In the meantime, the company's engineering and mine planning team are nearing completion of a revised mine plan that will integrate the recently updated mineral resource estimate (MRE) and associated material increase in measured and indicated resources. Detailed engineering and costing are in line with the 2021 phase 1 feasibility study. The above will form the basis of a revised feasibility study to be completed in H1 2024.

About Global Atomic Corp.

Global Atomic is a publicly listed company that provides a unique combination of high-grade uranium mine development and cash-flowing zinc concentrate production.

We seek Safe Harbor.