Atco Mining Inc. announced that it has completed its previously announced airborne gravity survey on its 100%-owned salt projects, located within the St. George's Bay Basin in southwestern Newfoundland. A total of 816 line-kilometers were flown and results are pending.

The Company prioritized the coverage of its high ranked targets. The results of the survey will help the Company assess the district-scale salt potential of the broader St. George's Bay district, the prospectivity of this area to host different styles of salt deposits, as well as the potential salt dome targets on Atco's ground.

Given their unique ability to store renewable energy underground in hollowed-out caverns, salt domes are beginning to play an important role in the clean energy transition as evidenced by the Advanced Clean Energy project in Utah anchored by the Delta dome. As stated in the Company's previous news release dated December 13, 2022, gravity surveying has proven to be an effective tool in the St. George's Bay Basin and other areas to define potential salt dome structures.

For example, Atlas Salt Inc. recently defined an additional potential salt dome next to its Fischell's Brook Salt Dome deposit using gravity surveying. The Survey consisted of a Falcon® Plus airborne gravity gradiometer (AGG) and magnetics survey completed by Xcalibur Multiphysics of Mississauga, Ontario. Falcon® is the world's only purpose-built AGG system, designed to isolate aircraft motion noise.

The Survey was managed and will be interpreted by GroundTruth Exploration of Dawson City, Yukon. GroundTruth will complete the interpretation of Atco's survey area in order to define potential salt dome structures that are defined by gravity-low features.