Mr. Stephen Roman reports

GLOBAL ATOMIC ANNOUNCES ATM FACILITY

Further to the filing of a base shelf prospectus Nov. 21, 2023, Global Atomic Corp. has established an at-the-market equity program (the ATM) which will allow the company to issue, at its discretion, common shares of the company having an aggregate offering price of up to $50-million to the public from time to time through Cantor Fitzgerald Canada Corp. and Canaccord Genuity Corp.

Distributions of common shares pursuant to the ATM, if any, will be made in accordance with the terms of the equity distribution agreement dated Dec. 6, 2023, entered into by the company and the agents. The ATM will be effective until the earlier of the issuance and sale of all of the common shares issuable pursuant to the ATM program and Dec. 21, 2025, unless terminated earlier in accordance with the terms of the distribution agreement. Common shares issued under the ATM will be issued from treasury and distributed directly on the Toronto Stock Exchange (the TSX), or such other recognized marketplaces to the extent permitted, at prevailing market prices at the time of sale, all in accordance with the terms of the distribution agreement.

The company intends to use the net proceeds from the ATM for the continued development of its Dasa project in the Republic of Niger and for general corporate purposes. The net proceeds from the ATM are not determinable in light of the nature of the distribution. The net proceeds of any given distribution of common shares through the agents in an at-the-market distribution will represent the gross proceeds after deducting the applicable compensation payable to the agents under the distribution agreement and the expenses of the distribution.

Sales of common shares, if any, under the ATM are anticipated to be made in transactions that are deemed to be at-the-market distributions as defined in National Instrument 44-102 -- Shelf Distributions, as sales made directly on the TSX or any other recognized Canada marketplace within the meaning of National Instrument 21-101 -- Marketplace Operation. Since the common shares distributed pursuant to the ATM, if any, will be distributed to the public at prevailing market prices at the time of sale, prices may vary among purchasers and during the period of distribution. In connection with the ATM, the company has filed a prospectus supplement dated Dec. 6, 2023, to its base shelf prospectus dated Nov. 21, 2023. Further details of the ATM are set out in the prospectus supplement. The prospectus supplement, shelf prospectus and the distribution agreement are each available under the company's issuer profile on SEDAR+.

Global Atomic's president and chief executive officer, Stephen G. Roman, commented, "This ATM facility provides the company with another tool to potentially contribute to the funding of the Dasa project, along with several other options under consideration."

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.

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 feasibility study for Dasa was filed in December, 2021, and estimates yellowcake delivery to utilities to commence in 2025. Mine excavation began in Q1 2022.

Global Atomic's base metals division holds a 49-per-cent interest in the Befesa Silvermet Turkey SL (BST) joint venture, which operates a modern zinc production plant, located in Iskenderun, Turkey. The plant recovers zinc from electric arc furnace dust 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 SAU, holds a 51-per-cent interest in and is the operator of the BST joint venture. Befesa is a market leader in EAFD recycling, with approximately 50 per cent of the European EAFD market and facilities located throughout Europe, Asia and the United States.

We seek Safe Harbor.