Mr. Nolan Peterson reports

ATLAS SALT ANNOUNCES CLOSING OF $15 MILLION BOUGHT DEAL LIFE OFFERING

Atlas Salt Inc. has closed its bought deal offering of common shares of the company, previously announced on May 31, 2026, and upsized on June 1, 2026, raising aggregate gross proceeds of $15,153,600. Under the offering, 12,628,000 common shares at a price of $1.20 per common share were issued pursuant to National Instrument 45-106, Prospectus Exemptions, in accordance with Part 5A of NI 45-106, as amended by the Canadian Securities Administrators' Coordinated Blanket Order 45-935, Exemptions from Certain Conditions of the Listed Issuer Financing Exemption. The common shares issued under the listed issuer financing exemption are not subject to a hold period in accordance with applicable Canadian securities laws.

Nolan Peterson, chief executive officer of Atlas Salt, commented: "The successful closing of this upsized bought deal offering reflects strong market confidence in Atlas Salt and Great Atlantic salt project and the significant progress we have made in advancing the project toward full-scale construction. The proceeds from this financing will enable us to accelerate our ongoing early works and site preparation program, advance detailed engineering and continue to build momentum with our strategic project partners. We are well positioned to deliver on our near-term development milestones and to create lasting value for our new and existing shareholders."

The offering was conducted pursuant to the terms of an underwriting agreement entered into among the company and Ventum Financial Corp. and Raymond James Ltd., as co-lead underwriters and co-lead bookrunners. The offering included an underwriters' option to purchase up to an additional 1,079,000 common shares at the offering price, which was exercised in part for 128,000 common shares. As consideration for their services, the company has paid the underwriters an aggregate cash consideration of $929,216.

The net proceeds received from the offering will be used for early works and site preparation activities, detailed engineering and mine development planning, advancement of permitting and environmental workstreams, procurement planning and equipment studies, and advancement of project financing initiatives in connection with the Great Atlantic salt project, as well as for general corporate and working capital purposes, as further described in the amended and restated offering document dated June 1, 2026, filed in connection with the offering, and which can be accessed under the company's profile on SEDAR+ and on the company's website.

Closing of the offering is subject to final acceptance by the TSX Venture Exchange.

About Atlas Salt Inc.

Atlas Salt is developing Canada's next salt mine and is committed to responsible and sustainable mining practices. With a focus on innovation and efficiency, the company is poised to make significant contributions to the North American salt market while upholding its values of environmental stewardship and community engagement.

We seek Safe Harbor.