Mr. Stephen G. Roman reports

GLOBAL ATOMIC PROVIDES EARLY UPDATE TO KICK OFF 2024

Global Atomic Corp. today provided corporate updates as the company advances its Dasa uranium project in the Republic of Niger.

Completion of third offtake agreement

Global Atomic has formalized the letter of intent announced in October, 2023, by signing a definitive agreement for the sale of 350,000 pounds uranium per annum from the company's Dasa project in the Republic of Niger. This is the third such agreement signed by the company, having formalized similar agreements in January and May of 2023, and brings the company's current contracted volume to approximately 1.5 million pounds U3O8 per annum over Dasa's initial five years of operation. With the completion of this agreement, Global Atomic has satisfied the presales requirement of its banking syndicate.

Updated feasibility study

The company is nearing completion of an update of the feasibility study (FS) originally released in 2021. The updated FS will incorporate an updated mineable reserve as well as current engineering design and costs and be based on the current uranium pricing environment. The company will release the updated FS in Q1 2024.

Dasa mine achieves 500 days of operation without a lost-time injury (LTI)

In a remarkable display of commitment to safety and teamwork, the Dasa mine, operated by Somida and overseen by Global Atomic, has achieved a significant milestone: 500 days without a lost-time injury. This achievement underlines the mine's unwavering dedication to creating a safe work environment and its success in implementing effective safety measures.

Appointment of Emre Toprak as vice-president, finance

Emre Toprak is a chartered accountant (CPA) with over 12 years of expertise in audit, accounting, financial management, financial reporting and internal controls. Mr. Toprak joined Global Atomic in 2021 as corporate controller and has been promoted to vice-president, finance. Prior to joining Global Atomic, Mr. Toprak worked at the Toronto office of PricewaterhouseCoopers LLP from 2019 to 2021, and previously Turkiye and the Netherlands.

In his new role, Mr. Toprak replaces Pierre Hardouin, who was helpful in establishing the company's Niger mining company, Somida, setting up the SAP accounting system and working with the company's Niger finance team. The company thanks Mr. Hardouin for his significant contributions and wishes him well in his new endeavours.

Global Atomic president and chief executive officer Stephen G. Roman commented: "Two-thousand twenty four is an important year for Global Atomic as we advance the Dasa project towards production. The formalization of our third offtake agreement underscores the growing demand for our uranium resources. Our exemplary safety record in the initial stages of operating the Dasa mine bodes well for the future and speaks to the quality of the mining team. I am extremely proud of what the entire team is accomplishing every day for the company and its stakeholders."

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 metal 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, Turkiye. 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 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.

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