Atlas Salt has intersected a thick bed of salt in the easternmost drill hole at Great Atlantic. Drill hole CC-9 cut a gross interval of salt over 333 meters (1,092 feet) starting from a depth of 243 meters. The drill hole was collared 250 meters east of CC-4 and is anticipated to be the last drill hole for resource classification purposes subject to final analytical results pursuant to the ongoing Feasibility Study.

SLR Consulting (Canada) Ltd. (SLR) has advised Atlas that it is on track to provide the results of a Preliminary Economic Assessment (PEA) of the Great Atlantic Project during the second half of January, 2023. This independent economic assessment is a prelude to the Feasibility Study and will describe the current economic valuation for the project subject to refinement in the final Feasibility Study expected during this first half of 2023.