Global Atomic Fuels Corporation

Global Atomic Fuels Corporation

December 11, 2014 12:25 ET

Global Atomic Cuts 350 Meter Uranium Intersection at Dasa Project, Republic of Niger

TORONTO, ONTARIO--(Marketwired - Dec. 11, 2014) - Global Atomic Fuels Corporation ("Global Atomic" or "the Company"), a private Ontario corporation, is pleased to report ongoing drill results from its flagship Dasa Project, located in the Republic of Niger, West Africa.

Recent drilling on the project returned exceptional results. Hole ASDH 256 intersected a mineralized intersection 350 meters thick. Based on the gamma probe, numerous sections of the hole were "saturated", thus requiring chemical assays to determine the exact grade.

Probing the 350 meter section returned a grade of 957 ppm including a 109 meter section grading 2,521 ppm at a 300 ppm cut-off, which also includes 40.5 meters at 3,185 ppm and 12.5 meters at 5,151 ppm at a 1,500 ppm cut-off.

The core from hole ASDH 256 has been split with one half being sent to ALS labs in Vancouver for chemical assaying. Drilling is continuing with two drill rigs.

"This drill hole is fantastique!", commented Global Atomic's consultant Henri Sanguinetti. "In my forty years uranium experience in Niger, I believe this is the best hole ever drilled in the Tim Mersoi Basin and confirms the Dasa deposit is world class."

The current drill program is designed to expand the Dasa resource and upgrade it to the Indicated Category to facilitate the completion of a Pre-feasibility Study (PFS).

Over the course of 2015, Global Atomic intends to complete sufficient drilling to upgrade the resource, complete a PEA report and list the Company's shares for trading on a recognized stock exchange.

QP Statement

Mr. George A. Flach, BSc., P.Geo., Vice President of Exploration, has reviewed this press release as the Qualified Person (QP) as defined in National Instrument 43-101.

About Global Atomic Fuels Corporation

Global Atomic Fuels Corporation is a private Ontario corporation founded in January, 2005 by executives with extensive experience in the mining and marketing of uranium. The Company has exploration agreements covering six uranium concessions in the Republic of Niger, covering an area of approximately 1,500 km2, as well as owning a database consisting of numerous uranium exploration targets around the world collected over a 30 year period by a major Canadian uranium producer.

Current shares outstanding: 65,737,985 million

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.

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