Atco Mining Inc. announced that it has completed the 3-D geological model of the Company's Flat Bay Salt Project. The work was completed by the Company's contracted consulting partner, RESPEC Consulting Inc., a global leader in geology, geophysical and engineering work with direct experience in underground hydrogen storage caverns. RESPEC analyzed the gravity and 2-D seismic data provided by Atco to build a 3-D geology model of the apparent salt structure at the Flat Bay Project site in Southwestern Newfoundland.

The 3D model is used for: (1) the placement of future core well locations; (2) defining the dimensions (i.e., the extent and thickness) of the salt structure; (3) estimating the potential number of salt caverns that could be developed within the property; and (4) estimating the potential amount of hydrogen that could be stored in salt caverns in the project area. Based on the interpretation of the ground gravity and seismic data related to the project, as well as the 3-D geological model, the maximum thickness of the salt structure is identified to be approximately 1,700 metres ("m"), suggesting that salt caverns with volume in excess of 2 million cubic metres per cavern can be solution mined within the property. RESPEC is currently working on estimating the total number of caverns that could potentially be solution mined in the salt structure and the potential total hydrogen storage capacity of the cavern field.