Drill Program at Dasa Continues to Exceed Expectations 2017 Earnings Hit New Record

TORONTO, May 07, 2018 (GLOBE NEWSWIRE) -- Global Atomic Corporation (“Global Atomic” or the “Company”), (TSX-V:GLO) is pleased to announce continuing positive results from its 2018 DASA Uranium Project drill program in the Republic of Niger, West Africa and a record zinc production year from its Zinc operations in Iskenderun, Turkey.

At DASA, the focus of current drilling is to continue to define the “Flank Zone” area in order to complete an updated National Instrument 43-101 (“NI 43-101”) resource technical report by CSA Global Pty Ltd of Perth, Western Australia. Two holes just completed and probed have returned excellent results which continue to improve the overall DASA resource.

DASA Project Highlights:

• Drill hole ASDH 126B intersected continuous high-grade mineralization from 58.5 meters to 262.6 meters returning a 204.1 meter intersection grading 8,062 ppm; including 28,490 ppm (2.85%) eU₃O₈ over 28.2 meters. This hole was drilled vertically and oblique to the dip to prove that the mineralization is continuous and is therefore not an indication of the true thickness of the zone.
• Drill hole ASDH 563 intersected 7,277 ppm eU₃O₈ over 107.3 meters including 12,456 ppm over 46.1 meters. This hole has been drilled perpendicular to the structure and approximates true thickness in this area. In drill hole ASDH 563 the probe was saturated for 8.5 meters from 231.2 meters to 239.7 meters.
• A new mineralized zone was discovered along strike and north of the main DASA deposit, called Tagama East, which has not been factored into the current resource estimate.  See drill holes below.
• DASA drilling table (drills sections attached):

Drilling on the Flank Zone will continue for the next month in order to achieve a Measured and Indicated resource classification in this area.  Further drilling on strike and down dip will continue in order to build the overall DASA resource. A number of high priority targets will be the focus of the exploration drilling.

Management expects the updated NI 43-101 resource estimate to be completed in Q3 2018 and a technical report prior to year-end 2018.

Mr. George Flach, P.Geo., VP, Exploration for Global Atomic said “The drilling, contractors and our local Nigerien team are making significant progress advancing this high value uranium project. DASA is proving to be an outstanding asset which continues to improve”.

3D Model : DASA Open Pit and Underground Resources Model With Planned Drilling is available at http://resource.globenewswire.com/Resource/Download/8fb1d627-13d4-4dea-b49b-640f5f96b183

Drill Hole Longitudinal Section 1925 is available at http://resource.globenewswire.com/Resource/Download/a71f0c3e-3d21-4673-beff-085c31062aad

Drill Hole Longitudinal Section 1950 is available at http://resource.globenewswire.com/Resource/Download/b7745820-ccda-4094-8616-92da0038a466

Zinc Operation Highlights:

• 2017 was a record year with 33 million pounds (100%) of zinc produced in concentrate (2016 – 22 million pounds).
• The Company’s 49% share of EBITDA of the joint venture was $10.8 million in 2017 (2016 – $4.6 million).
• The Company’s 49% share of the net earnings of the joint venture was $6.9 million in 2017 (2016 - $3.5 million) with earnings per share of $0.048 based on the currently outstanding 107 million shares.
• Based on Turkish earnings for 2017, a dividend of 47.3 million Turkish Lira was declared on April 27, 2018, with distribution to the joint venture partners in mid-May (the Company’s share is approximately $7.2 million).
• Steel market conditions in Turkey continue to improve and zinc prices remain strong. Based on improved market conditions, the Turkish joint venture is studying expansion and modernization of the Turkish plant, which will double production and reduce costs. The expansion is expected to be undertaken in 2019, with costs paid from operating earnings and available lines of credit.

Please visit the corporation’s website, www.globalatomiccorp.com, for the latest news and our 2017 Financial Statements and MD&A which are now posted to the website and www.sedar.com.

Investor Relations
Global Atomic also announced it has entered into an agreement with third party investor relations provider Renmark Financial Communications (“Renmark”) for the period February 1, 2018 through January 31, 2019 subject to a right of early termination in favour of the Company after the initial six month period. Renmark will provide investor relations services including investment community outreach programs, email distribution of news releases and broker presentations. Annual compensation is $54,000 payable in cash. Renmark was founded in 1999 by Henri Peron and based in Montreal, Quebec.

QP Statement
George A. Flach, Vice President of Exploration, P.Geo. is the Qualified Person (QP) as defined in NI 43-101 and has prepared, supervised the preparation of, and approved the scientific technical disclosure in this news release.

About Global Atomic
Global Atomic is a TSX Venture listed company providing a unique combination of high grade uranium development and cash flowing zinc concentrate production. 

Global Atomics’ Uranium Division includes six exploration permits in the Republic of Niger covering an area of approximately 750 km².  Uranium mineralization has been identified on each of the permits, with the most significant discovery being the DASA deposit situated on the Adrar Emoles III concession, discovered in 2010 by Global Atomic geologists through grassroots field exploration.

Global Atomics’ Base Metals Division holds a 49% interest in the BST joint venture which operates a re-processing facility located in Iskenderun, Turkey that converts EAFD (Electric Arc Furnace Dust) into a high-grade zinc oxide concentrate which is sold to zinc smelters around the world. The Company’s joint venture partner, Befesa Zinc S.A.U. (“Befesa”), holds a 51% interest in and is the operator of BST.  Befesa is a market leader in EAFD recycling, capturing approximately 45% to 50% of the European EAFD market with facilities located throughout Europe and Korea.

Key contacts:

The information in this release may contain forward-looking information under applicable securities laws. This forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause actual results to differ materially from those implied by the forward-looking information. Factors that may cause actual results to vary include, but are not limited to, inaccurate assumptions concerning the exploration for and development of mineral deposits, political instability, currency fluctuations, unanticipated operational or technical difficulties, changes in laws or regulations, the risks of obtaining necessary licenses and permits, changes in general economic conditions or conditions in the financial markets and the inability to raise additional financing. Readers are cautioned not to place undue reliance on this forward-looking information.  The Company does not assume the obligation to revise or update this forward-looking information after the date of this release or to revise such information to reflect the occurrence of future unanticipated events, except as may be required under applicable securities laws.