Mr. Stephen Roman reports

GLOBAL ATOMIC ANNOUNCES PRIVATE PLACEMENT OF UP TO C$30 MILLION

Global Atomic Corp. has arranged a non-brokered private placement for gross proceeds of up to $30-million from the sale of up to 37.5 million units of the company at a price of 80 cents per unit. Canaccord Genuity and Red Cloud Securities Inc. will be jointly acting as a finder in connection with the offering.

Each unit will consist of one common share of the company and one common share purchase warrant. Each warrant will entitle the holder thereof to purchase one common share at a price of $1 at any time for a period of 36 months following the issue date.

The company intends to use the net proceeds from the offering for the advancement of the Dasa project and for general working capital purposes.

Global Atomic president and chief executive officer Stephen Roman stated: "Today's offering will support continued development work at Dasa. We have mitigated the size of this offering by slowing our capital spending, which will continue until we have secured our primary funding commitments.

"We continue to work on several financing solutions and remain very upbeat about securing a financial commitment soon. We are actively working with the U.S. development bank on final preparations for their presentation to their credit committee. Simultaneously, we have reached agreement with a JV [joint venture] partner on the major terms of an agreement for them to take a minority interest at the project level. The company also continues to assess non-equity interim financing options."

Subject to compliance with applicable regulatory requirements and in accordance with National Instrument 45-106, Prospectus Exemptions, up to 25 million units that may be sold under the offering, representing gross proceeds of up to $20-million will be offered for sale to purchasers in all of the provinces of Canada pursuant to the listed issuer financing exemption (LIFE) under Part 5A of NI 45-106. The common shares issuable pursuant to the sale of the LIFE units are expected to be immediately freely tradable under applicable Canadian securities legislation if sold to purchasers resident in Canada.

All units sold in the Canadian selling jurisdictions but not under the listed issuer financing exemption will be offered pursuant to the accredited investor exemption outlined in Part 2 of NI 45-106. The units may also be sold in offshore jurisdictions and in the United States on a private-placement basis pursuant to one or more exemptions from the registration requirements of the U.S. Securities Act of 1933, as amended.

The closing of the offering is expected to occur on or around June 25, 2025, and is subject to receipt of all necessary regulatory approvals, including the Toronto Stock Exchange. Finders' fees will be payable in accordance with the policies of the TSX.

There is an offering document related to the LIFE units being sold pursuant to the offering that can be accessed under the company's profile on SEDAR+ and on the company's website. Prospective Canadian investors purchasing under the listed issuer financing exemption should read this offering document before making an investment decision.

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 is currently developing the fully permitted, large, high-grade Dasa deposit, discovered in 2010 by Global Atomic geologists through grassroots field exploration. The first-blast ceremony occurred on Nov. 5, 2022, and commissioning of the processing plant is scheduled for the second half of 2026. Global Atomic has also identified three additional uranium deposits in Niger that can be advanced with further assessment work.

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 recycling plant, located in Iskenderun, Turkey. 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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