St. George's, Newfoundland and Labrador--(Newsfile Corp. - July 7, 2026) - Atlas Salt Inc. (TSXV: SALT) (OTCQX: SALQF) (FSE: 9D00) ("Atlas Salt" or the "Company") provides an update on construction, permitting, and financing progress at the Great Atlantic Salt Project (the "Project"). Following the commencement of Early Works announced on February 27, 2026, the Project has advanced into active site construction, with the Company's surface earthworks contractor mobilized and earthworks underway.
Summary of Key Points
On Grade Construction and other contractors have been mobilized to site with Early Works construction underway.
Town Development Permit from the Town of St. George's confirms full Early Works scope authorization under a single permit, streamlining the process now and in the future.
All committed environmental and safety protocols are active with avifauna protection measures in place.
Project financing activities are well under way and on target with indications of interest from prospective lenders and strategic partners.
Multiple lenders and financing partners are in an active due diligence process.
Nolan Peterson, President and CEO of Atlas Salt, commented:
"It has been a busy and productive few months at Atlas, and I'm pleased to update stakeholders on our progress. With construction crews on site, our Town Development Permit confirmed for the full Early Works program, and the financing process under way, the Great Atlantic Salt Project has moved decisively from planning into execution. The discipline our team is demonstrating in the field, measured progress, strong safety performance, and active environmental oversight, is the same discipline we will carry into Capital Works construction, and it underpins the strong early interest we are seeing from the financing community."
Early Works Construction Progress
Atlas Salt's surface earthworks contractor, On Grade Construction, mobilized to site in early May and is actively executing the approved Early Works program. Activities to date include vegetation clearing, grubbing and earthworks across the Project footprint, together with the installation of temporary drainage infrastructure and erosion-and-sediment controls.
In the coming months, and subject to weather and site conditions, the Company expects the Early Works program to advance from initial clearing and bulk earthworks into the balance of the authorized site-development scope. Planned activities include:
Construction of the primary and secondary access roads and onsite road network
Establishment of construction laydown areas and temporary facilities
Progressive earthworks to shape site terraces, the life-of-mine stockpile foundations, and the catchment and diversion ditches, together with the peripheral berms and fencing that define the developed footprint.
Environmental and sediment-and-erosion controls will continue to be installed and maintained ahead of and throughout these works.