Global Atomic Corporation announced that the Company has updated its Mineral Resource Estimate for its Dasa Project in the Republic of Niger. The new MRE was calculated by AMC Consultants, ("AMC"), of Perth, Western Australia, incorporating drill, probe and chemical assay data compiled from an extensive 16,000-meter drill program initiated in September 2021, that focused on infill drilling to upgrade Inferred Resources to the higher resource classification of Indicated, which allows these resources to be included in an updated Mine Plan and Mineral Reserve. In addition, all geotechnical data derived from drill core was incorporated.

The geological model of the Dasa Deposit continues to demonstrate excellent continuity and the next phase of drilling in now being planned. It is important to note that unlike the 2019 MRE the new MRE is focused solely on an Underground Mine Model and does not include open pit modelling of near surface mineralization. This information guided the location of infill drilling as part of the 16,000-meter drill program.

Drill cores from the program were assayed at ALS Labs in Vancouver, Canada, by wavelength dispersion X-Ray Fluorescence Spectrometry for Uranium on pressed powder pellet for all the samples then on disc (pulp sample + lithium borate flux; mixture fused at 1050 -- 1100degC) for all samples grading above 1,500 ppm. The assaying carried out by ALS and the high-grade samples above 12% uranium content by SGS Lakefield laboratory were validated and used to calculate a new Gamma Probe /Assay correlation line. The newly derived equivalent grades were used for the 2023 MRE.