St. George's, Newfoundland and Labrador--(Newsfile Corp. - September 1, 2026) - Atlas Salt Inc. (TSXV: SALT) (OTCQX: SALQF) (FSE: 9D00) ("Atlas Salt" or the "Company") announces two additional milestones in the financing of its Great Atlantic Salt Project (the "Project") in Newfoundland and Labrador:

1. C$79 Million Sandvik Equipment Financing: The Company has advanced its previously announced Memorandum of Understanding with Sandvik into a non-binding Letter of Interest for equipment financing of up to approximately C$79 million; and

2. C$75 Million LOI From a New Leading Export Credit Agency: Atlas has separately received a non-binding Letter of Interest from a new leading export credit agency for up to C$75 million.

Together with the Company's previously announced Letter of Interest from Export Development Canada ("EDC") for up to C$150 million, aggregate financing Letters of Interest for the Project now exceed C$300 million.

Nolan Peterson, President & CEO of Atlas Salt Commented:

"Advancing our Memorandum of Understanding with Sandvik into a financing Letter of Interest and adding the support of an additional leading export credit agency, brings the financing Letters of Interest for the Great Atlantic Salt Project to more than C$300 million. These are the pillars on which we are building a broader financing package, including a commercial bank syndicate, as we work toward a complete financing package. Vendor and export credit support of this scale reflects the strength and strategic significance of our long-life, industrial-salt asset, and the international export interest it supports. This is one part of a structured process that is progressing across multiple counterparties and jurisdictions, and we look forward to advancing it in a disciplined manner alongside our advisor, Endeavour Financial."

Summary of Key Points:

• Sandvik, a leading supplier of underground mobile mining equipment, has advanced its previously announced Memorandum of Understanding with the Company into a non-binding Letter of Interest for equipment financing of up to approximately C$79 million, including approximately C$45 million for capital equipment, with the balance available to support equipment leasing during the initial years of operations.

• The Company has separately received a non-binding Letter of Interest from a leading export credit agency indicating potential financing of up to C$75 million for the Project, supported by qualifying export interest arising from the anticipated supply of Sandvik mining equipment.

• Together with the Company's previously announced Letter of Interest from EDC, aggregate financing Letters of Interest for the Project now exceed approximately C$300 million.

Sandvik Equipment Financing Letter of Interest

Building on the Memorandum of Understanding previously entered into with Sandvik, the Company has received a non-binding Letter of Interest under which Sandvik would consider providing equipment financing of up to approximately C$79 million in support of the Project. Approximately C$45 million is attributable to capital equipment forming part of the Project's underground mobile mining fleet, with the balance available to support equipment leasing arrangements during the initial years of operations. The Letter of Interest is non-binding and any participation by Sandvik remains subject to due diligence, credit approval, and the negotiation of definitive agreements.

Export Credit Agency Letter of Interest

The Company has separately received a non-binding Letter of Interest from a leading export credit agency wholly owned by its national government, indicating potential financing of up to C$75 million for the Project. The potential financing reflects a qualifying export interest arising from the anticipated supply of Sandvik mining equipment to the Project. The Letter of Interest is non-binding, does not constitute an offer, commitment or obligation of any kind, and any participation by the export credit agency would remain subject to the completion of satisfactory due diligence, all necessary internal and credit approvals, compliance with the agency's mandate and eligibility criteria, and the negotiation of definitive documentation.

Project Financing Process

With the Sandvik equipment financing Letter of Interest and the Letter of Interest from a leading export credit agency, together with the previously announced Letter of Interest from Export Development Canada, aggregate financing Letters of Interest received for the Project now exceed approximately C$300 million. Atlas Salt continues to advance project financing for the Great Atlantic Salt Project with the support of its financing advisor, Endeavour Financial.

As previously disclosed, the Company is pursuing approximately C$350 million to C$400 million of senior secured debt, with the potential for additional subordinate debt, anchored by the Updated Feasibility Study ("UFS") released on September 30, 2025. The UFS delivered an after-tax NPV₈ of C$920 million, a post-tax IRR of 21.3%, a 4.2-year payback at a steady-state production rate of 4.0 million tonnes per annum, and approximately C$188 million in average annual after-tax free cash flow over a 25-year mine life.

The Company intends to use these export credit and vendor financing Letters of Interest as pillars on which to build a broader financing package, including a commercial bank syndicate, and continues to engage with prospective lenders, vendor-financing counterparties, export credit agencies and strategic financing partners across multiple jurisdictions as part of a structured, competitive financing process. Interested parties are working within the Company's established due diligence process. All discussions remain non-binding, and there can be no assurance that any financing will be completed on the terms contemplated, or at all. The Company will provide further updates as material developments occur.

For further information and ongoing updates, please visit https://atlassalt.com.

About Atlas Salt

Atlas Salt Inc. (TSXV: SALT) (OTCQX: SALQF) (FSE: 9D00) is developing the Great Atlantic Salt Project, a wholly-owned, high-purity rock salt project on the west coast of Newfoundland, Canada, uniquely positioned to become North America's first new salt mine in nearly three decades. The Project is expected to produce 4.0 million tonnes of road salt annually for the import-dependent Eastern Canadian and U.S. Northeast markets. The 2025 Updated Feasibility Study outlines robust economics, including a 25-year mine life, C$188 million in average annual after-tax free cash flow, C$920 million of after-tax NPV8, a 21.3% post-tax IRR, and a 4.2-year payback. Designed as a highly electrified, low-emission operation, Great Atlantic's annual Scope 1 emissions are anticipated to equal just four Newfoundland households. Atlas is committed to responsible mining, environmental stewardship, and community engagement.

We seek safe harbour.

Cautionary Statement

This news release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. Forward-looking information includes, but is not limited to, statements with respect to: the advancement of the Great Atlantic Salt Project towards production; the Company's development plans, operational readiness and construction planning; the Company's salt marketing and distribution strategies; vesting of compensation securities ; and analysis and assumptions related thereto. Forward-looking information is generally identifiable by use of the words "believes", "may", "plans", "will", "anticipates", "intends", "could", "estimates", "expects", "forecasts", "projects" and similar expressions, and the negative of such expressions. Forward-looking information is subject to known and unknown risks and uncertainties that may cause actual results to differ materially from those anticipated or implied in the forward-looking information. The Company's forward-looking information is based on the assumptions that: the Company will be able to obtain all required approvals for the Great Atlantic Salt Project; general business and economic conditions will not change in a materially adverse manner; the Company will be able to obtain financing as required. Risk factors that could cause actual results to differ materially include, but are not limited to: failure to obtain necessary financing; changes in general economic, business and political conditions; changes in applicable laws and regulations; compliance with extensive government regulation; and other risks described in the Company's public disclosure documents filed on SEDAR+. The Company cautions that the foregoing list of risk factors is not exhaustive. The forward-looking information contained in this news release is made as of the date hereof and the Company is not obligated to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. Because of the risks, uncertainties and assumptions contained herein, investors should not place undue reliance on forward-looking information. The foregoing statements expressly qualify any forward-looking information contained herein.

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