TORONTO, Sept. 03, 2020 (GLOBE NEWSWIRE) — Global Atomic Corporation (“Global Atomic” or the “Company”; TSX: GLO; Frankfurt: G12; OTCQX: GLATF) engaged this week with over 20 firms within the global mining investment community at the Mines & Money Online Connect Virtual Conference in a series of one-on-one meetings.
Many of these firms who met with management are currently shareholders, who have benefitted this year from the Company’s advancement of the development of its Dasa Uranium Project in Niger, whereas others were new to the Company’s story and were surprised to learn about:the successful uranium mining industry in Niger during the past 50 years;Niger’s excellent infrastructure to support mining and the efficiency of their mine permitting process;the speed of development at Dasa, with the 2021 expectation for permitting in Q1, the completion of all engineering and geotechnical work prior to collaring a portal in early 2022;the high-grade, long-life potential of the Dasa Project as defined by drilling results and this year’s Preliminary Economic Assessment;Dasa’s projected low costs that would allow the mine to be profitable at, and even well below, today’s uranium spot price;the positive outlook for uranium supply and demand;the potential cash contribution of the Company’s zinc recovery JV once the 2019 expansion has been paid;the financing optionality the Company has given its potential to:develop the Dasa mine and mill in phases;leverage relationships and existing facilities in Niger; andleverage the future cash flow from the Company’s zinc business.Stephen Roman, President & CEO of Global Atomic, commented, “We thank Mines & Money for persevering and holding such a unique global conference during the pandemic and thank those investors and financiers who took the time to meet with us. In the coming weeks, we look forward to following up with the many investors who could not find an open time slot in our conference agenda.”About Global Atomic
Global Atomic Corporation (www.globalatomiccorp.com) is a TSX 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, highgrade Dasa Project, discovered in 2010 by Global Atomic geologists through grassroots field exploration. The Company plans to submit its Mining Permit application for the Phase 1 high grade underground mine to the Ministry of Mines in the Republic of Niger in Q3 2020.Global Atomics’ Base Metals Division holds a 49% interest in the Befesa Silvermet Turkey, S.L. (“BST”) Joint Venture, which operates a new, state of the art processing facility, 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 S.A.U. (“Befesa”) listed on the Frankfurt exchange under ‘BFSA’, holds a 51% interest in and is the operator of the BST Joint Venture. Befesa is a market leader in EAFD recycling, with approximately 50% of the European EAFD market and facilities located throughout Europe and Asia.Key contacts:Global Atomic CorporationThe information in this release may contain forward-looking information under applicable securities laws. Forward-looking information includes, but is not limited to, statements with respect to completion of any financings; Global Atomics’ development potential and timetable of its operations, development and exploration assets; Global Atomics’ ability to raise additional funds necessary; the future price of uranium; the estimation of mineral reserves and resources; conclusions of economic evaluation; the realization of mineral reserve estimates; the timing and amount of estimated future production, development and exploration; cost of future activities; capital and operating expenditures; success of exploration activities; mining or processing issues; currency exchange rates; government regulation of mining operations; and environmental and permitting risks. Generally, forward-looking statements can be identified by the use of forward-looking terminology such as “plans”, “is expected”, “estimates”, variations of such words and phrases or statements that certain actions, events or results “could”, “would”, “might”, “will be taken”, “occur” or “be achieved”. All information contained in this news release, other than statements of current or historical fact, is forward-looking information. Statements of forward-looking information are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Global Atomic to be materially different from those expressed or implied by such forward-looking statements, including but not limited to those risks described in the annual information form of Global Atomic and in its public documents filed on SEDAR from time to time.Forward-looking statements are based on the opinions and estimates of management at the date such statements are made. Although management of Global Atomic has attempted to identify important factors that could cause actual results to be materially different from those forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance upon forward-looking statements. Global Atomic does not undertake to update any forward-looking statements, except in accordance with applicable securities law. Readers should also review the risks and uncertainties sections of Global Atomics’ annual and interim MD&As.The Toronto Stock Exchange has not reviewed and does not accept responsibility for the adequacy and accuracy of this news release.
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