Global Atomic Announces Q4 2025 Results

Canada NewsWire

TORONTO, March 26, 2026 /CNW/ - Global Atomic Corporation ("Global Atomic" or the "Company"), (TSX: GLO) (OTCQX: GLATF) (FRANKFURT: G12) announced today its operating and financial results for the year ended December 31, 2025.  For more detail, please refer to the Consolidated Financial Statements and Management's Discussion and Analysis for the year ended December 31, 2025, on the Company's website at www.globalatomiccorp.com.

Stephen G. Roman, President and CEO of Global Atomic, commented, "During 2025, development at the Dasa Uranium Project advanced significantly. Since the First Blast Ceremony on November 5, 2022, underground mine development and surface infrastructure have been considerably de-risked, moving the Project closer to production. To maintain our construction schedule, we completed several equity financings and continue to advance debt/JV options to eliminate further equity dilution."

"On March 18th, the Dasa Project reached one million hours without a lost time incident, a tremendous achievement by our construction crews that reflects the commitment, discipline, leadership and safety culture developed within our entire team.  The Government of Niger remains strongly supportive of Dasa, recognizing our ESG practices and achievements, our local engagement and the project's growing employment and social benefits created in the Agadez region."

OUTLOOK

Dasa Uranium Project

• The Company is actively engaged with a U.S. Development Bank (the "Bank") to establish a debt facility to aid in financing Dasa's development costs. 
• While the Bank works through its review and approval process, the Company continues negotiations with a potential joint venture ("JV") partner as an alternative financing option.  This potential JV transaction contemplates the acquisition of a minority interest in the Dasa project.
• The Company is also pursuing other non-equity funding options.
• Dasa's development has no material reliance on shipping impacted by the Middle East conflict.  Niger supplies 100% of Dasa's diesel fuel requirements from local oil and refining production at reasonable rates. 

Uranium Prices

• Over the course of 2025, spot uranium prices traded between US$60/pound U₃O₈ and US$85/pound U₃O₈.
• Long-term contract prices remained steady above US$80 per pound U₃O₈.
• Nuclear energy continues to gain wide acceptance, resulting in increased demand for uranium as a critical element in the carbon free, base-load energy supply.
• The long-term outlook for uranium prices is robust as demand outstrips supply due to unprecedented growth in the number of nuclear reactors under construction, operating life extensions and AI driven data centers.

Turkish Zinc Joint-Venture

• Higher zinc prices and lower input costs are expected to continue to contribute to profitable operations and provide for the payment of dividends to the JV partners.
• The Company anticipates its Turkish JV will process a similar amount of electric arc furnace dust ("EAFD") in 2026 as in 2025.
• Electric arc steel mills in Türkiye continue to operate at moderate utilization levels.
• BST plant modernization debt is now retired and dividends to JV partners reinstated.

2025 HIGHLIGHTS

Dasa Uranium Project – Mine Development

• Underground development, underway since November 2022, has progressed to the 4th level in the footwall adjacent to the orebody.
• Mineralized development ore brought to surface includes medium grade (3,000 to 5,000 ppm), low grade (1,300 to 3,000 ppm) and mineralized waste (240 to 1,300 ppm), all of which will be processed during the commissioning of the plant.
• Ramping and underground level development will facilitate stope access on five mining levels to coincide with the commissioning of the process plant.
• Underground ventilation, electrical services, and water management infrastructure are being installed in coordination with mine development.

Dasa Uranium Project – Plant Construction

• Selection of long-lead equipment is complete. Manufacturing has been completed for many of these components, most of which have now been delivered to the Dasa site.
• Engineering, Procurement and Contract Management ("EPCM") contractors are completing final detailed engineering and ordering the remaining components for the Process Plant.
• The Company continues to prepare the site for construction of the Process Plant.  To date, earthworks are largely complete and civil works are well underway in preparation for equipment installation.
• The Company has completed the construction of a new 260-person housing facility to provide housing for employees and construction crews. 

Dasa Uranium Project – Niger Government Support

• On February 12, 2025, the Company provided a corporate update regarding a series of meetings held at the Mining Indaba conference in South Africa where Niger's Mines Minister; Ousmane Abarchi confirmed government support for Global Atomic and the Dasa Project. The Minister also stated his government has no intention in nationalizing the Dasa Project and welcomes investment by foreign mining companies specifically those from Canada, the United States and Australia. 
• On April 23, 2025, the Company provided a corporate update where meetings with Niger's Mines Minister Ousmane Abarchi continued to indicate Niger's support for Global Atomic and the Dasa project.
• On December 11, 2025, a special meeting was convened by Prime Minister Ali Lamine Zeine which included select Cabinet Ministers who are mandated to streamline regulatory approvals and facilitate more efficient logistics for the Dasa Project. 
• The Prime Minister noted the way Global Atomic goes about its mining business is the best Niger has experienced to date and praised the Company's commitment to local hiring and procurement. The Prime Minister stated the Niger Government is impressed with the significant progress made in the development of the Dasa Project and confirmed Niger's intention to continue its partnership with SOMIDA through the life of the mine. 
• The Company reported that in Q4 2025 Niger's President Tiani toured mines in the Agadez region including a positive visit to the Dasa project area, discussions with SOMIDA personnel and a presentation highlighting the development of the camp, mine and plant construction.
• In Q4 2025, the Company posted a video highlighting development work at Dasa including community engagement. The video was distributed in Niger via social media and national television to help raise awareness with the Niger population. The video was well received and can be viewed on the Company's website.

Turkish Zinc Joint Venture

• The Turkish JV processed 70,497 tonnes EAFD and sold 35.2 million pounds of zinc in concentrate in 2025.
• The average monthly LME zinc price in 2026 was US$1.30/pound compared to US$1.26/pound in 2024.
• For 2025, the Company's share of EBITDA was $9.5 million ($6.3 million in 2024) and the Company's share of net income was $2.3 million ($1.3 million in 2024).
• The cash balance of the Turkish JV was US$8.6 million at the end of 2025 (end of 2024 - US$4.2 million).
• The Turkish JV generated positive cash flow in 2025 and retired the debt facility related to the 2019 modernization and re-build of the process plant.
• In December 2025, the JV resumed dividend payments to the JV partners, Befesa and Global Atomic. 

Corporate

• On January 31, 2025, the Company closed a private placement for gross proceeds of $35.6 million at a price of $0.80 per unit consisting of one common share and one common share warrant.
• On June 26, 2025, the Company closed a private placement for gross proceeds of $24.8 million at a price of $0.80 per Unit consisting of one common share and one common share warrant. 
• On October 23, 2025, the Company closed a bought deal public offering for gross proceeds of $37.1 million at a price of $0.62 per Unit consisting of one common share and one common share warrant.  
• On February 2, 2026, the Company announced the closing of a bought deal public offering and a non-brokered private placement, both offered at a price of $0.88 per unit, for combined gross proceeds of approximately C$72.5 million.  Each unit issued pursuant to these offerings consisted of one common share and one common share purchase warrant. 
• The net proceeds of the above equity raises have been used for development of its Dasa Project and general working capital purposes.
• Global Atomic received management fees and monthly sales commissions from the Turkish JV of $1.1 million in 2025 compared to $0.9 million in 2024.
• The Company's cash balance as of December 31, 2025, was $13.1 million.

About Global Atomic

Global Atomic Corporation (www.globalatomiccorp.com) is a publicly listed company that provides a unique combination of high-grade uranium mine development and cash-flowing zinc concentrate production.

The Company's Uranium Division is developing the fully permitted, large, high-grade Dasa Deposit, discovered in 2010 by Global Atomic geologists through grassroots field exploration.  The Deposit is in the uranium-rich Tim Mersoï Basin in the Agadez Region of the Republic of Niger.  The Dasa Project is operated by SOMIDA, a Niger-based company which is owned 80% by Global Atomic and 20% by the Niger Government. Permitted in 2020 and actively mined since 2022, the Dasa Project is the world's most advanced greenfield uranium project currently under development.  

The Company's Base Metals Division holds a 49% interest in the Befesa Silvermet Turkey, S.L. (BST) joint venture, which operates a modern zinc recycling plant in Iskenderun, Türkiye. The plant recovers zinc from Electric Arc Furnace Dust (EAFD) to produce a high-grade zinc oxide concentrate which is sold to zinc smelters.  Befesa Zinc S.A.U. (Befesa) is the majority partner and the operator of the BST Joint Venture.  Befesa is a market leader in EAFD recycling, with approximately 50% of the European EAFD market and facilities located in Europe, Asia and the United States of America.

CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS:

The information in this release may contain forward-looking information under applicable securities laws.  Forward-looking information includes, but is not limited to, statements with respect to completion of any financings; Global Atomics' development potential and timetable of its operations, development and exploration assets; Global Atomics' ability to raise additional funds necessary; the future price of uranium; the estimation of mineral reserves and resources; conclusions of economic evaluation; the realization of mineral reserve estimates; the timing and amount of estimated future production, development and exploration; cost of future activities; capital and operating expenditures; success of exploration activities; mining or processing issues; currency exchange rates; government regulation of mining operations; and environmental and permitting risks.   Generally, forward-looking statements can be identified by the use of forward-looking terminology such as "plans", "is expected", "estimates", variations of such words and phrases or statements that certain actions, events or results "could", "would", "might", "will be taken", "will begin", "will include", "are expected", "occur" or "be achieved".  All information contained in this news release, other than statements of current or historical fact, is forward-looking information.   Statements of forward-looking information are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Global Atomic to be materially different from those expressed or implied by such forward-looking statements, including but not limited to those risks described in the annual information form of Global Atomic and in its public documents filed on SEDAR from time to time.

Forward-looking statements are based on the opinions and estimates of management at the date such statements are made.  Although management of Global Atomic has attempted to identify important factors that could cause actual results to be materially different from those forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended.  There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements.  Accordingly, readers should not place undue reliance upon forward-looking statements.  Global Atomic does not undertake to update any forward-looking statements, except in accordance with applicable securities law.  Readers should also review the risks and uncertainties sections of Global Atomics' annual and interim MD&As.

The Toronto Stock Exchange has not reviewed and does not accept responsibility for the adequacy and accuracy of this news release.

SOURCE Global Atomic Corporation

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