TORONTO, Dec. 11, 2025 /CNW/ - Global Atomic Corporation ("Global Atomic" or the "Company"), (TSX: GLO) (OTCQX: GLATF) (FRANKFURT: G12) is pleased to provide an update on financing for the Company's Dasa Project and Management's recent visit to the Republic of Niger.
The U.S. development bank (the "Bank") has confirmed that funding for the Dasa Project was reviewed at a meeting of the Bank's Credit Committee and forwarded to the Investment Committee for review. Current guidance indicates next steps in the approval process will occur over the next two months. We expect further updates from the Bank in the new year to confirm their review and approval timelines.
Recent announcements by the U.S. Government about authorization for funding by the Bank include increased funding, allowance for higher risk tolerance and the potential for equity investments in funded projects. Together with the U.S. Government's focus on critical minerals we interpret these announcements as welcome indicators of eventual approval of the Dasa Project loan.
The Company is in the process of securing Canadian Government input regarding an alternative financing solution involving the purchase of a minority joint venture ownership in Global Atomic's Niger subsidiary, SOMIDA.
Global Atomic Management recently travelled to Niger where they held a successful site visit as well as meetings with senior officials in Niger's Government, including Mines Minister Abarchi, and a special meeting hosted by Prime Minister Zeine, including select Cabinet Ministers and senior staff.
Stephen G. Roman, President and CEO of Global Atomic, was interviewed in French by Niger's national television where he confirmed having an excellent meeting with the Prime Minister and senior Ministers and expressed his appreciation for their proactive engagement in facilitating the development of the Dasa Project. Mr. Roman noted the win-win philosophy that is driving the Company's partnership with the Niger Government in SOMIDA. Citing the Company's challenges due to financing and logistics delays, Mr. Roman suggested that first uranium shipments could be delayed to 2028.
Mr. Roman highlighted the Company's strong commitment and success employing Nigeriens and engaging local contractors from Niger, concluding that Dasa was essentially a Nigerien project for Nigeriens. The Niger news clip stated that SOMIDA is aligned with the thinking and strategy of the Government to build projects for the benefit and development of Niger. The Prime Minister and Mr. Roman's comments were repeated in follow up articles in the national press.
The Prime Minister acknowledged the way Global Atomic goes about its mining business is the best it has experienced to date and praised the Company's commitment to local hiring and procurement. The Niger Government is impressed with the significant progress made in the development of the Dasa Project and confirmed its intention to continue its partnership in SOMIDA through the life of the mine.
The Prime Minister further stated the senior government attendees at his meeting are mandated to streamline regulatory approvals and work with Government Ministries to facilitate more efficient logistics and quicker transportation times for goods shipped into Niger for the Dasa Project.
Prior to Management's visit to Niger, President Tiani conducted a tour of the Agadez region which included a positive visit to the Dasa area and a discussion of ongoing works at the site and the presentation of progress photos. President Tiani was impressed with the meeting held with SOMIDA personnel.
In Memoriam
It is with profound sadness that the Company announces the recent passing of long-time Director, Derek Rance, P.Eng., MBA, on December 3, 2025. Derek was the former President and COO of the Iron Ore Company of Canada and the COO of Quintette Coal Limited. His in-depth knowledge of the mining business and building complex projects was well known. He will be sorely missed.
About Global Atomic
Global Atomic Corporation (www.globalatomiccorp.com) 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 November 5, 2022, and the date of commissioning is currently estimated as H2 2027. Global Atomic has also identified 3 additional uranium deposits in Niger that may be advanced with further assessment work.
Global Atomic's Base Metals Division holds a 49% interest in the Befesa Silvermet Turkey, S.L. (BST) Joint Venture, which operates a modern zinc recycling plant, located in Iskenderun, Türkiye. 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) 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, Asia and the United States of America.
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS:
The 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", "will begin", "will include", "are expected", "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.
SOURCE Global Atomic Corporation
Key contacts: Stephen G. Roman, Chairman, President and CEO, Tel: +1 (416) 368-3949, Email: sgr@globalatomiccorp.com; Bob Tait, VP Investor Relations, Tel: +1 (416) 558-3858, Email: bt@globalatomiccorp.com
