Global Atomic Provides Niger Update

• Global Atomic's executive team visited Niger to meet with high-level government officials including President Abdoularhamane Tiani.
• The President issued a formal letter of support recognizing the strategic importance of the Dasa Project to the nation's economy and infrastructure.
• Meetings were held with the Prime Minister, Ministers of Mines and Foreign Affairs, and the US Embassy Chargé d'Affaires.
• A potential new trade corridor via a cooperation agreement between Niger and Algeria was identified to provide access to the Mediterranean Sea for the Dasa Mine.
• The company continues to pursue non-equity financing solutions including debt facilities with a U.S. Development Bank and joint venture partnerships.

• Political Risk Mitigation: The formal letter from the President of Niger significantly reduces political risk perception compared to previous uncertainty, reinforcing government backing for the project. However, this was largely anticipated following the December 2025 visit where the President also visited the site.
• Financing Status: While positive for operations and relations, the news does not confirm a specific financing commitment (e.g., U.S. Development Bank loan approval or JV partner). The primary bottleneck remains capital raising to reach production.
• Market Expectations: Given previous equity raises in 2025 and early 2026 ($72.5M in Feb 2026, $37M in Oct 2025), the market has priced in continued dilution risk. This news is incremental rather than transformative regarding valuation drivers.
• Litigation Context: The positive government relations come shortly after a class-action lawsuit was filed in February 2026 alleging misrepresentations, which adds a layer of legal overhang not addressed by this operational update.

• Company: Global Atomic Corporation focuses on uranium mining in Niger and zinc recycling in Turkey.
• Flagship Project: Dasa Uranium Project located in the Republic of Niger, owned 80% by SOMIDA (Global Atomic subsidiary) and 20% by the Government of Niger.
• Development Status: Underground development has reached the 4th level; process plant construction is nearing completion with commissioning scheduled for Q4 2027. First yellowcake shipments expected in H1 2028.
• Secondary Asset: Turkish Zinc Joint Venture (Befesa Silvermet Turkey) provides cash flow, reporting EBITDA of $3.6 million in Q1 2026 and net income of $2.1 million.