Slide 1: Global Atomic Corporation
Global Atomic Corporation HIGH-GRADE DASA URANIUM PROJECT IN THE REPUBLIC OF NIGER LOW-CARBON BASELOAD POWER & MINERAL RECYCLING May 2023
Slide 2: Disclaimer
DISCLAIMER This presentation has been prepared by the Global Atomic Corporation (“Global Atomic” or the “Company”) and includes information from sources believed by management to be reliable. No representation or warranty, expressed or implied, is made as to the accuracy of the information set forth
Slide 3: Creating one of the world's most environmentally progressive mining companies
CREATING ONE OF THE WORLD’S MOST ENVIRONMENTALLY PROGRESSIVE MINING COMPANIES Global Atomic merged with Silvermet in 2017 Ø Silvermet’s zinc recycling cash flow has contributed to the funding of the development of Global Atomic’s Dasa Project Ø Global Atomic’s uranium will be used by international e
Slide 4: Dasa is the highest-grade uranium deposit outside the Athabasca Basin
THE DASA PROJECT BENEFITS FROM EXISTING INFRASTRUCTURE & STRONG GOVERNMENT SUPPORT Dasa is the highest-grade uranium deposit outside the Athabasca Basin and situated in Niger’s established uranium district. 4
Slide 5: Global Atomic at a Glance
CREATING ONE OF THE WORLD’S MOST ENVIRONMENTALLY PROGRESSIVE MINING COMPANIES Global Atomic at a Glance ü Existing cash flowing zinc recycling operation minimizes share dilution ü One of few emerging uranium producers, able to economically compete in the current, mid- and long-term market. ü All per
Slide 6: The Dasa Project is the highest grade uranium project in Africa
THE DASA PROJECT IS THE HIGHEST GRADE URANIUM PROJECT IN AFRICA The Phase 1 Mine Plan represents approximately 20% of Dasa’s current Mineral Resource. Dasa Project schematic long-section and hypothetical underground infrastructure Phase 1 – Flank Zone, initial 12 years Phase 2 – Future Mine Developm
Slide 7: Prior to the new MRE Dasa contained substantial Inferred Resources
THE DASA PROJECT IS COMPELLING Prior to the new MRE Dasa contained substantial Inferred Resources that could convert into Indicated Resources DASA HAS SUBSTANTIAL MINERAL RESOURCES TO BE MINED BEYOND THE PHASE 1 ZONES 7
Slide 8: The new MRE converted substantial Inferred to Indicated
THE DASA PROJECT IS COMPELLING The new MRE converted substantial Inferred to Indicated and identified more Inferred Resources as future infill drilling targets THE NEW MRE SHOWS POTENTIAL TO UPGRADE MORE RESOURCES TO MINERAL RESERVES 8
Slide 9: 2021-2022 Exploration Results: Significant Increase to Reserves
2021 – 2022 EXPLORATION RESULTS: SIGNIFICANT INCREASE TO RESERVES 16,000-meter drill program completed in 2022 has resulted in: • Increased mineral resources • Conversion of Inferred Resources to Indicated Resources 2023: Updated MRE Q2 ➞ Updated Mine Plan Q3 ➞ Updated Feasibility Study Q4 9
Slide 10: Comparative Grade/Tonnage Report at Varying Cut-Off Grades
THE DASA PROJECT IS COMPELLING Comparative Grade/Tonnage Report at Varying Cut-Off Grades 10
Slide 11: Feasibility Study represents ~20% of the current resource @ $35/lb
THE DASA PROJECT IS COMPELLING Feasibility Study represents ~20% of the current resource @ $35/lb Economic sensitivity with varying uranium prices* Uranium price (per pound) $35/lb $40/lb $50/lb $60/lb $70/lb $80/lb $100/lb Before-tax NPV @ 8% $175 M $295M $539 M $781 M $1.025 B $1.270 B $1.763 B Af
Slide 12: Dasa Mine Phase 1 - Estimated U3O8 Production
THE DASA PROJECT IS COMPELLING Dasa Mine Phase 1 - Estimated U3O8 Production Source: Dasa Project Phase 1 Feasibility Study 7 6 5 Millions of Pounds 4 3 2 1 0 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035 2036 2037 2038 2039 2040 Phase 1 Phase 2 (estimated) 12
Slide 13: Dasa Project has already achieved significant milestones
THE DASA PROJECT IS ON SCHEDULE FOR PRODUCTION IN 2025 Dasa Project has already achieved significant milestones • Completed 16,000 m drill program • Appointed EPCM contractors • Niger mining subsidiary SOMIDA formed 2022 • Formed banking syndiciate for project loan, including EDC • Offtake commitmen
Slide 14: Many significant catalysts leading to uranium production
THE DASA PROJECT IS ON SCHEDULE FOR PRODUCTION IN 2025 Many significant catalysts leading to uranium production 2023 2024 2025 • Q2 Update MRE to include 16km drill program • Continue underground • Declare commercial production development • Q2 Detailed engineering • Yellowcake delivery to utilities
Slide 15: Ramp development for the underground mine is well underway
RAMP DEVELOPMENT FOR THE UNDERGROUND MINE IS WELL UNDERWAY The ramp leading to the Dasa ore body had reached 325 meters by end of April 2023, 15 about 40% of the way to reach the ore level.
Slide 16: ESG and CSR are key components of the Global Atomic culture
ESG AND CSR ARE KEY COMPONENTS OF THE GLOBAL ATOMIC CULTURE Initiatives since Global Atomic became active in Niger • Food during droughts • Medical supplies • Water wells, Infrastructure • Education and training • Procurement of goods and services on local, regional and national basis • ESIA’s inclu
Slide 17: Operational and ESG practices consistent with Equator Principles and IFC Standards
GLOBAL ATOMIC’S OPERATIONAL AND ESG PRACTICES WILL CONTINUE TO BE DEVELOPED CONSISTENT WITH EQUATOR PRINCIPLES AND IFC PERFORMANC STANDARDS The Dasa Project will bring significant benefits to local economy including: • Royalty, tax and fee income to government and utilities • Employment of miners la
Slide 18: Niger is an ideal jurisdiction for uranium mining
7th largest global uranium producer, THE DASA PROJECT IS COMPELLING previously 4th largest (2015) • 50 years of uranium mining Niger is an ideal jurisdiction for uranium mining • Established markets for uranium including France & U.S. • Excellent infrastructure, including paved roads, power and wate
Slide 19: U.S. commits support to Niger & Benin economies at 2022 Africa Leaders Summit
U.S. COMMITS SUPPORT TO NIGER & BENIN ECONOMIES AT 2022 AFRICA LEADERS SUMMIT During the December 2022 U.S.-Africa Leaders Summit in Washington, Niger and Benin signed a regional compact designed to reduce transportation costs along the corridor between the Port of Cotonou in Benin and Niger’s capit
Slide 20: Befesa Silvermet Turkey
Zinc oxide recovery plant Iskenderun, Turkey Befesa Silvermet Turkey • Recovers high grade zinc from electric arc furnace dust (EAFD) & removes toxic elements from the environment • Plays an important role in the circular economy – reduce, recycle, re-use • 49% non-operating Joint Venture interest w
Slide 21: Cash flow from zinc recycling underpins Dasa Project development
CASH FLOW FROM ZINC RECYCLING UNDERPINS DASA PROJECT DEVELOPMENT Strong zinc prices contributed to short payback of the 2019 modernization loan 110,000 $2.00 • In Q1 2023 the JV processed 6,125 tonnes of $1.80 Electric Arc Furnace Dust 90,000 $1.60 • The zinc price has $1.40 continued to decline in
Slide 22: Uranium Supply & Demand
Uranium Supply & Demand 300 M lbs U3O8 Specified Secondary Supply Existing Mines - Adjusted Commercial Inventory Restarted Idled Mines Under Development Planned Mines Prospectve Mines Uranium Demand Reference Reference Case does 250 not capture Total Supply w/o displacement the unfolding upside Unkn
Slide 23: Nuclear/Uranium Outlook
NUCLEAR/URANIUM OUTLOOK Global Atomic has a clear intent to independently provide economic supply competition in the uranium market, and supply security to the global reactor fleet. • Nuclear power’s low carbon value now boosted by the desire for energy independence. • The US 2022 Inflation Reductio
Slide 24: Global Atomic is undervalued compared to many of its peers
GLOBAL ATOMIC IS UNDERVALUED COMPARED TO MANY OF ITS PEERS Market Cap/Pound of In-Ground Resources $14 $12 $10 $8 $6 $4 $2 $0 Ur-Energy Energy Fuels Skyharbour NexGen Lotus Global ENRG Anfield Laramide Labrador ValOre GoviEx Resources Energy Resources Atomic Elements Energy Resources Uranium Metals
Slide 25: Capital Structure
CAPITAL STRUCTURE Tight share structure, cash flow from zinc operations mitigates share dilution C$580 M C$2.87 202.1M Market Capitalization TSX Share Price Shares Issued* As of April 28, 2023 As of April 28, 2023 Shareholder composition (approx.) Global Atomic Share Price Performance (January 2, 20
Slide 26: Experienced Board - predominantly independent
STRONG GOVERNANCE FRAMEWORK Experienced Board – predominantly independent Stephen G. Roman – Founder, Chairman, President and CEO Ex Director and VP Exploration of Denison Mines. Founded, managed and sold Gold Eagle Mines to Goldcorp Inc for $1.5B. Won the “Bill Dennis Award” from the PDAC in 2016.
Slide 27: Experienced Management
EXECUTIVE TEAM Experienced Management Executives Stephen G. Roman – Founder, Chairman, President and CEO Ex Director and VP Exploration of Denison Mines. Founded, managed and sold Gold Eagle Mines to Goldcorp Inc for $1.5B. Won “Bill Dennis Award” from the PDAC in 2016. Financed and developed many m
Slide 28: Strong, experienced Nigerien Management Team
NIGER OPERATIONS – SOMIDA (Société Minière de DASA S.A.) Strong, experienced Nigerien Management Team Moussa Souley, Mining Engineer Chitou Oumarou Managing Director Radiation Protection Officer Lawan Moussa, Mining Engineer Maman Issa Head Mining Manager, Dasa Mine Human Resources Director Abdoulay
Slide 29: Global Atomic at a Glance
CREATING ONE OF THE WORLD’S MOST ENVIRONMENTALLY PROGRESSIVE MINING COMPANIES Global Atomic at a Glance ü Existing cash flowing zinc recycling operation minimizes share dilution ü One of few emerging uranium producers, able to economically compete in the current, mid- and long-term market. ü All per
Slide 30: 8 King St E, Suite 1700 Toronto, ON M5C 1B5 Tel: +1 416 368
8 King St E, Suite 1700 Toronto, ON M5C 1B5 Tel: +1 416 368 3949 info@globalatomiccorp.com globalatomiccorp.com
Slide 31: Appendix
APPENDIX 31
Slide 32: Production Availability - 2025
Production Availability - 2025 Restricted or Reality is that a large portion of African Supply unavailable supply Is owned and consumed by the Chinese and unavailable to Western utilities. Restricted or unavailable supply Not inclusive of Dasa Not inclusive of Dasa: Dasa increases available African
Slide 33: DASA: Uranium Mineralization Model
DASA: Uranium Mineralization Model • Uranium leaching from Aïr basement in DASA Graben oxidized fluids; trapped Azouz Azouz into reducing a Fault a Fault S N Carboniferous and Triassic-Jurassic Aïr massif sediments in channel settings (roll front enrichment, Tabular) • Uranium leaching from pyroclas
Slide 34: Strong government support for SOMIDA and the Dasa Project
STRONG GOVERNMENT SUPPORT FOR SOMIDA AND THE DASA PROJECT His Excellency, President Mohamed Bazoum meeting with Global Atomic executives SOMIDA, Global Atomic’s Niger subsidiary, owns and operates the Dasa Project: Global Atomic (80%) Government of Niger (20%) 34
Slide 35: Strong government support for SOMIDA and the Dasa Project
STRONG GOVERNMENT SUPPORT FOR SOMIDA AND THE DASA PROJECT Madame Hadizatou Ousseini Yacouba, Minister of Mines with executives of Global Atomic Corporation 35
Slide 36: Strong community relations and social engagement at the Dasa Project
STRONG COMMUNITY RELATIONS AND SOCIAL ENGAGEMENT AT THE DASA PROJECT 36