ATLAS SALT INC - REMRF STOCK NEWS

Atlas Salt Inc. (TSXV:SALT)(OTCQB:REMRF) has announced two significant developments for its Great Atlantic Salt Project:

1. Commencement of Geotechnical Drilling Program: The company has appointed Terrane Geoscience Inc. and GEMTEC Consulting Engineers and Scientists to lead a comprehensive geotechnical and hydrogeological investigation. Logan Drilling will execute approximately 2,700 meters of core drilling along the decline path. The program, expected to be completed by Q1 2025, aims to evaluate rock conditions and groundwater behavior, ensuring safety and stability for the proposed decline and box cut.

2. Acquisition of 160-hectare Crown Land Surface Lease: Atlas Salt has secured the necessary land for geotechnical drilling and surface infrastructure development, including access roads and on-site facilities.

These developments are important for de-risking the decline construction and advancing the project towards becoming Canada's next major salt mine.

Atlas Salt Inc. (TSXV:SALT)(OTCQB:REMRF) announces key changes and progress in its operations. Alasdair Federico will succeed Michael Psihogios as CFO effective October 15th, 2024. Federico, with over 15 years of experience in publicly traded mining companies, is well-positioned to lead the company's financial strategy as it enters the pre-production phase.

The company has been granted a mineral lease by the Newfoundland and Labrador Department of Industry, Energy and Technology, securing exclusive rights to develop, extract, and sell salt from the Great Atlantic Salt Project. The lease covers 550 hectares, including areas for the company's current 34-year salt reserves and additional resources for expansion.

Atlas Salt has also engaged Digitonic , an investor relations firm, to enhance visibility with the investment community. The 4-week campaign, focused on the North American market, comes with a one-time fee of US$260,000 and is subject to TSXV approval.

Atlas Salt Inc. (TSXV:SALT)(OTCQB:REMRF) has signed a non-binding MOU with Sandvik Mining and Rock Solutions for the Great Atlantic Salt Project. Key highlights include:

1. Purchase of advanced electric mining equipment
2. Implementation of AutoMine® automation system
3. Battery Management Service
4. Full Maintenance Program
5. Deswik software and engineering consulting services
6. Tailored ground support and grouting expertise
7. Local warehousing and technical support

Sandvik has offered a $73 million financing arrangement to support the acquisition and deployment of their mining technology, equipment, and services. This partnership aims to enhance safety, efficiency, and sustainability in Canada's next salt mine.

Atlas Salt Inc. (TSXV:SALT)(OTCQB:REMRF) has purchased key land parcels for its Great Atlantic Salt Project. The acquisition includes approximately 100 hectares of privately held vacant lots, with plans to develop only a small portion for mine infrastructure. This strategic move secures essential surface rights for mine site construction and future production, including areas for the boxcut and mine portals. The purchase is expected to support ongoing discussions with potential financing sources and advance the project's development, ultimately aiming to unlock shareholder value. Atlas Salt intends to maintain most of the acquired land as an undisturbed buffer around the mine site.

Atlas Salt Inc. (TSXV:SALT)(OTCQB:REMRF) has entered into a non-binding Memorandum of Understanding (MOU) with Scotwood Industries for a strategic salt production offtake agreement and joint venture in Canada. The partnership aims to distribute and sell packaged salt and related products, targeting annual sales volumes of 1.25 to 1.50 million tonnes per annum. The agreement excludes bulk road de-icing salt and does not cover Newfoundland & Labrador, Prince Edward Island, New Brunswick, and Nova Scotia, with some exceptions for national accounts and existing U.S. retailer relationships with Canadian affiliates.

Atlas Salt Inc. (TSXV:SALT)(OTCQB:REMRF) has released its inaugural Environmental, Social and Governance (ESG) Report for the Great Atlantic Salt Project. The report outlines three core sustainability priorities: maintaining social license, developing a market for clean salt, and minimizing environmental impact. Atlas Salt aims to build long-term relationships with key partners, identify clients valuing clean, low-carbon salt, and operate sustainably using electric equipment powered by the provincial grid.

CEO Rick LaBelle emphasized the company's commitment to stakeholder engagement, minimal environmental impact, and responsible growth. The ESG Report details Atlas Salt's performance in health, safety, social, and environmental matters, showcasing their strategy to provide North American markets with cleanly extracted de-icing salt with a minimal transportation emission footprint. This report will support strategic discussions with potential financing sources to advance the project's construction and unlock shareholder value.

Atlas Salt Inc. (TSXV:SALT)(OTCQB:REMRF) has announced a de-risked development schedule for its Great Atlantic Salt Project, reducing the duration to 59 months, a 5% improvement from the original 62-month plan. The updated schedule, verified by Tamkali , includes a target date in the first half of 2025 for securing project financing. Key enhancements include increased detail, PERT analysis with Monte Carlo simulation, and the use of Oracle Primavera Cloud software. The company has made significant advances over the past year, including obtaining environmental assessment release and addressing various preconditions for financing.

Atlas Salt Inc. (TSXV:SALT)(OTCQB:REMRF) has completed a detailed simulation and modelling verification for its Great Atlantic Salt Project with SRK Consulting. This verification validates the project's equipment requirements, material handling system, and port capabilities. Key findings include:

1. Resolution of SLR recommendations from the Feasibility Study
2. Confirmation of mobile mining equipment scalability
3. Verification that the material handling system and port infrastructure can manage a production rate of at least 2.5 Mtpa

The SRK model refines equipment needs and requirements, ensuring a sophisticated approach to operational planning and further de-risking the project. This analysis supports Atlas Salt's strategic planning and strengthens confidence in the project's potential to deliver significant economic benefits.

Atlas Salt Inc. (TSXV:SALT)(OTCQB:REMRF) has announced the grant of 850,000 deferred share units to certain directors of the company. This decision was approved by the company's board of directors and is in accordance with Atlas Salt's Equity Incentive Plan. The grants are subject to the terms outlined in the applicable grant agreements and must comply with the TSX Venture Exchange requirements. This move represents a form of equity-based compensation for the company's directors, potentially aligning their interests with those of the shareholders.