Global Atomic Fuels Corporation

Global Atomic Fuels Corporation

March 25, 2015 16:50 ET

Global Atomic Receives Initial Chemical Assays From Latest Drilling at Dasa Uranium Project

TORONTO, ONTARIO--(Marketwired - March 25, 2015) - Global Atomic Fuels Corporation ("Global Atomic" or "the Company"), a private Ontario corporation, is pleased to report the first batch of chemical (XRF) assays received from the recently completed drilling from the Dasa uranium deposit, Republic of Niger, West Africa.

Drill hole ASDH 256 which cut a spectacular 350 meter mineralized intersection (see press release, December 11, 2014) has been split with large sections sent to ALS Laboratories in Vancouver for chemical assay. A gamma probe was used for the initial assessment of the mineralized section. The higher grade areas were chosen for assay.

The table below outlines some of the core section that was assayed. It is clearly evident that in most cases the assays report a higher grade than the probe. Mineralization commenced at 356 m depth to 706 m. The table represents a section that was assayed first as one of the higher grade areas in the core.

HOLE # From (m) To (m) Probe (ppm) Assay (ppm) % Increase
ASDH256 570.50 571.00 1683.26 2794.70 66%
ASDH256 571.00 571.50 2162.71 3808.82 76%
ASDH256 571.50 572.00 7338.61 12971.20 77%
ASDH256 572.00 572.50 6457.05 9351.06 45%
ASDH256 572.50 573.00 7853.13 3608.35 -54%
ASDH256 573.00 573.50 1266.10 805.39 -36%
ASDH256 573.50 574.00 622.59 499.98 -20%
ASDH256 574.00 574.50 414.67 963.41 132%
ASDH256 574.50 575.00 2722.95 5011.60 84%
ASDH256 575.00 575.50 4390.42 4705.01 7%
ASDH256 575.50 576.00 4870.11 6002.13 23%
ASDH256 576.00 576.50 7586.58 9009.09 19%
ASDH256 576.50 577.00 9196.70 8478.45 -8%
ASDH256 577.00 577.50 6774.29 8513.82 26%
ASDH256 577.50 578.00 5793.52 31838.40 450%
ASDH256 578.00 578.50 6299.52 23466.08 273%
ASDH256 578.50 579.00 3756.66 25116.96 569%
ASDH256 579.00 579.50 5810.63 16862.56 190%
ASDH256 579.50 580.00 8059.76 46342.56 475%
ASDH256 580.00 580.50 3716.39 35611.84 858%
ASDH256 580.50 581.00 8285.01 38088.16 360%
ASDH256 581.00 581.50 3876.91 823.08 -79%
ASDH256 581.50 582.00 4585.84 2417.36 -47%
ASDH256 582.00 582.50 6775.81 9056.26 34%
ASDH256 582.50 583.00 8006.96 13089.12 63%
Average 5132.25 12769.42 149%

When all the assays are received from the last drill campaign, the results will be added to the current DASA database. It is the Company's intention to complete the required drilling to move the current DASA resource to the "Indicated" category as well as continue drilling on strike and at depth to expand the resource.

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: 67,148,941 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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