Mr. Richard LaBelle reports

ATLAS SALT INC. ANNOUNCES SUBMISSION OF PROJECT REGISTRATION FOR THE GREAT ATLANTIC SALT PROJECT UNDER THE NEWFOUNDLAND AND LABRADOR ENVIRONMENTAL PROTECTION ACT

Atlas Salt Inc. has submitted the project registration document for the Great Atlantic salt project, pursuant to Part X of the Newfoundland and Labrador Environmental Protection Act. This submission represents a crucial milestone in the project's development, path to financing and construction, and the unlocking of shareholder value.

The registration outlines the company's dedication to innovation, sustainable mining practices, community engagement, and implementing strategies and designs to minimize environmental impact. The registration reviews in depth:

• Detailed environmental impact studies and mitigation strategies, demonstrating the project's comparatively low impact;
• Community engagement initiatives and the high level of local support for the project;
• Comprehensive analyses of potential effects on local flora and fauna, showing minimal biodiversity impact;
• An energy-efficient operational design that minimizes greenhouse gas emissions;
• Comprehensive plans, processes and mitigation measures addressing water management, noise, light and dust control to minimize adverse impacts;
• Important and significant social and economic contributions, along with associated benefits to local, regional and provincial communities.

In support of this registration, Atlas Salt has undertaken considerable environmental baseline studies and analysis, including a greenhouse gas study (see the Jan. 15, 2024, news release). This study details the project's expected low carbon footprint, as compared with other mining operations, of only 950 tonnes of carbon dioxide equivalent per million tonnes of production. The project's Scope 1 greenhouse gas emissions of 79 tonnes annually are comparable with the emissions of the annual carbon footprint expected from just four Newfoundland families of four, according to Statistics Canada (2023).

Atlas Salt believes that the project will significantly contribute to local and regional economies and create numerous highly skilled generational employment opportunities.

The registration is subject to review by the Newfoundland and Labrador Department of Environment and Climate Change, and the company will provide further information as it becomes available.

About Atlas Salt Inc.

Atlas Salt is developing Canada's next salt mine, and is committed to responsible and sustainable mining practices. With a focus on innovation and efficiency, the company is poised to make significant contributions to the North American salt market while upholding its values of environmental stewardship and community engagement.

We seek Safe Harbor.