Atlas Salt begins site preparation at Great Atlantic

Executive Summary

• Atlas Salt Inc. has fulfilled all applicable environmental assessment (EA) conditions and received a formal letter of release from the government of Newfoundland and Labrador, allowing the company to commence early works at its Great Atlantic salt project.
• The company has executed a benefits agreement with the Province of Newfoundland and Labrador, which has been approved by necessary provincial entities including the cabinet.
• Initial site activities will include permitted land clearing, grubbing, and site preparation to establish the mine site footprint and support subsequent construction phases.

Key Details

• Project Location: Great Atlantic salt project, near St. George's, Newfoundland and Labrador.
• Regulatory Status:
  • Early works development plan and associated environmental management plans received government approval.
  • Formal letter of release received confirming satisfaction of applicable EA conditions.
  • Benefits agreement with the Province of Newfoundland and Labrador executed and approved by provincial entities.
• Operational Activities:
  • Immediate commencement of permitted land clearing and related site preparation.
  • Activities include grubbing and site preparation to establish the mine site footprint.
  • Transition from permitting/planning into physical early works execution.
• Strategic Context:
  • The benefits agreement establishes a framework for employment, procurement, training, and community participation during construction and operations.
  • CEO Nolan Peterson described beginning construction as a "major milestone achievement" reflecting disciplined progress toward full development and production.

Notable Quotes

• "With the execution of the benefits agreement with the Province of Newfoundland and Labrador and satisfaction of the early works conditions under our approved environmental assessment, we are now moving into site preparation and initial construction at the Great Atlantic salt project. Beginning construction is a major milestone achievement for any mining project. For Atlas and the Great Atlantic salt project, it reflects disciplined progress and growing momentum as we continue advancing the project toward full development and production." — Nolan Peterson, President and CEO