Announcement • Jul 08
Atlas Salt Provides Construction and Permitting Update on the Great Atlantic Salt Project Atlas Salt Inc. provided an update on construction, permitting, and financing progress at the Great Atlantic Salt Project. Following the commencement of Early Works announced on February 27, 2026, the Project has advanced into active site construction, with the Company's surface earthworks contractor mobilized and earthworks underway. On Grade Construction and other contractors have been mobilized to site with Early Works construction underway. Town Development Permit from the Town of St. George's confirms full Early Works scope authorization under a single permit, streamlining the process now and in the future. All committed environmental and safety protocols are active with avifauna protection measures in place. Atlas Salt's surface earthworks contractor, On Grade Construction, mobilized to site in early May and is actively executing the approved Early Works program. Activities to date include vegetation clearing, grubbing and earthworks across the Project footprint, together with the installation of temporary drainage infrastructure and erosion-and-sediment controls. In the coming months, and subject to weather and site conditions, the Company expects the Early Works program to advance from initial clearing and bulk earthworks into the balance of the authorized site-development scope. Planned activities include: Construction of the primary and secondary access roads and onsite road network; Establishment of construction laydown areas and temporary facilities; Progressive earthworks to shape site terraces, the life-of-mine stockpile foundations, and the catchment and diversion ditches, together with the peripheral berms and fencing that define the developed footprint. Environmental and sediment-and-erosion controls will continue to be installed and maintained ahead of and throughout these works. This program is expected to establish the infrastructure required to support the transition into Capital Works construction as project financing is advanced. Prior to vegetation clearing, Atlas Salt engaged Strum Consulting to complete avifauna nest sweeps across the approved clearing footprint during the spring migratory-bird arrival window. Clearing commenced only after sweeps confirmed no active nests in the planned area. A nest-protection protocol, overseen by ICI Innovations and supported by on-site personnel, remains active throughout the clearing program in accordance with the Project's approved Environmental Protection Plan. New Risk • Jun 28
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 28% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 17% per year over the past 5 years. Revenue is less than US$1m. Minor Risk Shareholders have been diluted in the past year (28% increase in shares outstanding). Announcement • Jun 23
Atlas Salt Inc. Announces Resignation of Jeff Kilborn from Chief Financial Officer Atlas Salt Inc. announced that Jeff Kilborn resigned as Chief Financial Officer of the Company for personal reasons. During his tenure, Jeff played an important role in supporting the advancement of the Great Atlantic Salt Project and the Company's corporate and financing initiatives.