Mr. Nolan Peterson reports

ATLAS SALT ANNOUNCES $1.25 MILLION FLOW-THROUGH FINANCING

Atlas Salt Inc. has arranged a non-brokered private placement of 961,539 flow-through common shares of the company at a price of $1.30 per flow-through share for aggregate gross proceeds of $1.25-million.

Each flow-through share will qualify as a flow-through share for purposes of the Income Tax Act (Canada). The gross proceeds raised from the issuance of the flow-through shares will be used by the company to incur eligible Canadian exploration expenses that will qualify as flow-through mining expenditures as such terms are defined in the tax act to advance exploration on the nepheline discovery at its Black Bay property in southern Labrador. Analysis by SGS Lakefield of a bulk sample from Black Bay suggests the nepheline is potentially amenable to processing to a high-value product. This discovery, which is yet to be tested to depth by drilling, is just six kilometres from tide water and is accessible by a paved road.

Nolan Peterson, chief executive officer of Atlas Salt, commented: "Since the initial discovery of nepheline syenite at our Black Bay property, Atlas Salt has been eager to follow up on the early evaluation of this occurrence. Shareholders should view this flow-through offering as a relatively low-cost opportunity to uncover value and subsequently potentially monetize a non-core asset. While our focus remains on advancing the Great Atlantic Salt project, we look forward to commencing maiden drilling at Black Bay."

Closing of the offering is expected to occur on or about May 20, 2026, and is subject to customary closing conditions and regulatory approvals, including the approval of the TSX Venture Exchange.

The flow-through shares will be offered by way of private placement pursuant to applicable exemptions from the prospectus requirements under applicable securities laws. All flow-through shares issued in connection with the offering are subject to a hold period of four months and one day following the closing date under applicable Canadian securities laws.

The company further announces that it has been approved for funding under the Province of Newfoundland and Labrador's junior exploration assistance (JEA) 2026 program to support exploration activities at Black Bay.

The company also announces that it has retained the services of Renmark Financial Communications Inc. for investor relations activities. In consideration of the services to be provided, the monthly fees incurred by Atlas Salt will be cash consideration of $10,000, starting June 1, 2026, for a period of seven months ending on Dec. 31, 2026, and monthly thereafter. Renmark Financial Communications does not have any interest, directly or indirectly, in Atlas Salt or its securities, or any right or intent to acquire such an interest.

About nepheline and Black Bay

Nepheline is an industrial mineral and a source of aluminum (Al2O3), sodium (Na2O) and potassium (K2O) used primarily in the manufacture of glass, ceramics, extenders and fillers. Commercial nepheline deposits are rare with only one mine in production in North America at Blue Mountain in Ontario. Though feldspar is used as a substitute for nepheline because of nepheline's limited supply, nepheline is generally a preferred material over feldspar due to its higher concentration of potassium and sodium resulting in significant energy savings in industrial uses.

In July, 2016, the company acquired, by staking, the Black Bay nepheline property in southern Labrador. The property consists of a surface occurrence of nepheline syenite along the southern Labrador highway. The project is located approximately six kilometres from tidewater. The Blanc Sablon, Que., airport is a 90-minute drive from the property.

In 2017, the company obtained, through surface channel sampling, in excess of three tonnes of material to assess the potential economic viability of the deposit. Results from the sampling indicated that the contents of the rock are comparable with other commercial nepheline deposits and that initial beneficiation tests were positive toward meeting industrial standards. The purpose of the drilling program is to further quantify the deposit's mineralogical characteristics and evaluate the potential tonnage of the deposit.

About Atlas Salt Inc.

Atlas Salt is developing North America'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.