Global Atomic Corporation reported on the continuing development of its Dasa Uranium Project in the Republic of Niger. Approximately 500 meters of ramp development have now been completed. Surface and Underground mine infrastructure including mine dry, ventilation raises, electrical and pumping installations are underway.

The development of the decline relative to the current Phase 1 Mine Plan is shown in the longitudinal section and the plan view below. Since the 2023 MRE (Mineral Resource Estimate) has been released, the updated Mine Plan, expected in Fourth Quarter this year, will have a positive effect on the Phase 1 Mine Plan. A significant portion of the Dasa orebody wireframe shown in these images has been upgraded to the Indicated Resource Category, which will allow a new, larger Mineable Reserve to be calculated, based on actual mining costs.

Detailed engineering for the processing plant is nearing completion. The Company's internal project team and contractor DCPL of India are now being supported by METC of South Africa, who are very familiar with the Dasa Project having authored the 2021 Phase 1 Feasibility Study. As a priority item, the project team has defined detailed specifications, completed the tendering process and placed orders for critical long-lead items including the acid plant, crusher and SAG mill.

Purchase orders for additional equipment are currently being finalized. The cost of the equipment ordered to date is consistent with cost estimates in the Feasibility Study, due to revised procurement strategies and cost inflation since the date of the Feasibility Study, which was completed at the peak of the covid pandemic, when freight rates and other costs were at their maximum. In anticipation of equipment deliveries beginning in Fourth Quarter, 2023, the Dasa Site Team have begun earthworks in preparation for civil engineering and pouring cement.

Camp facilities for an additional 224 beds for the plant construction crew has been ordered in addition to the integration and construction of locally designed and built housing.