Global Atomic’s Turkish operations unaffected by recent government economic announcement


TORONTO, January 4, 2022 / CNW / – Global Atomic Corporation (“Global Atomic” or the “Company”) (TSX: GLO) (OTCQX: GLATF) (FRANKFURT: G12) announces that business is business as usual at its Turkish joint venture, Befesa Silvermet Turkey (“BST”), following recent announcements by the Turkish government regarding the conversion of part of its income into Turkish lira. Of course, BST regularly repatriates a portion of its revenue from US dollars to Turkish Lira to cover operating costs related to items such as wages and locally supplied raw materials.

Global Atomic Corporation logo (CNW Group / Global Atomic Corporation)

About Global Atomic

Global Atomic Corporation (www.globalatomiccorp.com) is a publicly traded company that offers a unique combination of high grade uranium mine development and cash flow generating zinc concentrate production.

The Company’s Uranium division consists of four deposits, the flagship project being the large high-grade Dasa project, discovered in 2010 by geologists at Global Atomic through field exploration at the base. With the issuance of the Dasa mining permit and an environmental compliance certificate by the Republic of Niger, the Dasa project is fully licensed for commercial production.

Global Atomics’ Base Metals division owns a 49% stake in the joint venture Befesa Silvermet Turkey, SL (“BST”), which operates a modern zinc production plant, located in Iskenderun, Turkey. The plant recovers zinc from electric arc furnace dust (“EAFD”) to produce a high quality zinc oxide concentrate which is sold to zinc smelters around the world. The Company’s joint venture partner, Befesa Zinc SAU (“Befesa”) listed on the Frankfurt stock exchange under “BFSA”, owns a 51% stake in and is the operator of the BST joint venture. Befesa is a leader in the EAFD recycling market, with around 50% of the European EAFD market and facilities located everywhere Europe, Asia and United States of America.

The information contained in this press release may contain forward-looking information under applicable securities laws. Forward-looking information includes, without limitation, statements regarding the completion of any financing; the development potential of Global Atomics and the timing of its operations, development and exploration activities; the ability of Global Atomics to raise the necessary additional funds; the future price of uranium; estimation of mineral reserves and resources; conclusions of the economic assessment; carrying out mineral reserve estimates; the timing and amount of estimated future production, development and exploration; cost of future activities; capital and operating expenses; success of exploration activities; extraction or processing problems; exchange rate; government regulation of mining operations; and environmental risks and permits. 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 as certain actions, events or results “Could”, “would”, “could”, “will be taken”, “will begin”, “will include”, “are expected”, “occur” or “be reached”. All information contained in this press release, other than statements of current or historical fact, is forward-looking information. Forward-looking information statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of business, performance or achievements of Global Atomic to be materially different from those expressed or implied by these forward-looking statements. , including, but not limited to, the risks described in Global Atomic’s Annual Information Form and its public documents filed on SEDAR from time to time.

Forward-looking statements are based on the opinions and estimates of management as of the date on which such statements are made. Although the management of Global Atomic has attempted to identify material factors that could cause actual results to differ materially from these forward-looking statements, there may be other factors that cause results to differ from those anticipated. , estimated or planned. 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. Therefore, readers should not place undue reliance on forward-looking statements. Global Atomic does not undertake to update any forward-looking statements except in accordance with applicable securities laws. Readers should also review the risks and uncertainties sections of Global Atomics’ annual and interim MD&A.

The Toronto Stock Exchange has not reviewed and accepts no responsibility for the adequacy and accuracy of this press release.

SOURCE Global Atomic Corporation

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