Mr. Nolan Peterson reports

ATLAS SALT REPORTS POSITIVE NEPHELINE SYENITE TESTWORK RESULTS AND ADVANCES MAIDEN DRILLING AT BLACK BAY

Atlas Salt Inc. has released positive results from a bench-scale beneficiation program completed by Dorfner Anzaplan GmbH of Hirschau, Germany, on a bulk nepheline syenite sample from the company's Black Bay property in southern Labrador.

Summary of key points:

• Magnetic separation alone reduced iron oxide, the principal impurity in Nepheline Syenite deposits, from 2.84 weight per cent (wt. per cent) in the feed to between 0.01 and 0.03 wt. per cent in product, at a combined mass recovery of 87.7 wt. per cent.
• The chemical composition of the samples meets typical published industry specifications for both glass and ceramic use. Iron oxide impurities are significantly below typical industry limits and below all comparable commercial reference products.
• Atlas Salt is advancing a maiden diamond drilling program at Black Bay, the first test of the occurrence at depth.

Nolan Peterson, chief executive officer of Atlas Salt, commented:

"The results of this beneficiation program, carried out by Anzaplan, are the results we were hoping for when we sent this sample to Germany. A simple magnetic circuit -- no flotation and no acid -- took the iron down to a 10th of the maximum limits the glass and ceramic markets will accept, and it held close to 88 per cent of the mass while doing it. Nepheline Syenite deposits are geologically uncommon on a global scale and where favourably located. High-purity, low-iron deposits of significant commercial interest -- North America has one nepheline syenite mine in production. Black Bay sits six kilometres from tidewater on a paved highway providing excellent access."

While the company is encouraged by the early positive results of this beneficiation testwork, Black Bay remains a non-core but high potential asset. The company's primary focus and management attention remain on the Great Atlantic salt project. The Black Bay program is being carried out with its own dedicated exploration funding.

Beneficiation testwork

The company retained Anzaplan on June 8, 2026, and shipped approximately 105 kilograms of nepheline syenite. This material was drawn from a 3.5-tonne bulk sample collected during the 2017 outcrop channel sampling program. Head analysis of the feed returned 58.3 wt. per cent silica (SiO2), 22.6 wt. per cent alumina (Al2O3), 9.82 wt. per cent sodium oxide (Na2O) and 4.72 wt. per cent potassium oxide (K2O), all typical constituents of nepheline syenite. Iron oxide (Fe2O3) accounted for 2.84 wt. per cent and was the main impurity to be removed for industrial use.

Dry and wet magnetic separation reduced iron oxide to 0.01 wt. per cent in the coarse product and 0.03 wt. per cent in the fine product, which Anzaplan reports as significantly better than typical industry limits and substantially better than all comparable commercial reference products. An optimized dry test held iron oxide at 0.03 wt. per cent while lifting stage mass recovery to 90.0 wt. per cent, giving a combined overall mass recovery of 87.7 wt. per cent of the feed.

Anzaplan identified dry magnetic separation as the preferred beneficiation method due to producing a high-quality product with coarse fraction being treatable strictly dry using belt magnetic separators as well as being operationally less complex than flotation.

The testwork was carried out at bench scale on a single bulk sample collected from surface, and the results may not be representative of the occurrence as a whole. Black Bay is an early stage exploration property. No mineral resource or mineral reserve has been estimated for it, no economic study has been completed on it, and nothing in this news release establishes that the occurrence is economically viable. Anzaplan has recommended variability testwork, a heavy mineral identification program and a market study before process design advances further.

Significance

Anzaplan reports that the samples satisfy the chemical requirements typically specified for glass grade nepheline syenite, and that alumina above 23 wt. per cent and total alkali (Na2O plus K2O) content of 15 wt. per cent enable a lower melting temperature and reduced energy consumption in glass melting and ceramic firing. Two filler grades ground from the combined product returned brightness of 84.6 and 87.4 per cent, the finer grade above the typical industry specification of 85 per cent, with oil absorption below the typical industry range.

The most notable characteristic of the samples produced is the low iron content. Fe2O3 concentrations of 0.01 to 0.03 wt. per cent are substantially lower than those reported for all reference products and significantly below typical industry standards. This potentially represents a competitive advantage as iron is a critical contaminant in glass applications. Elevated levels of iron concentration can cause unwanted discoloration, reduce optical quality and limit the suitability of a product for demanding applications.

Maiden diamond drilling program

The company's Black Bay claims have never been drilled. The company staked the ground in 2016 on the strength of a surface showing, and all results reported to date rests on material collected from surface. The program, as designed, comprises up to 1,500 metres of diamond core drilling. Core will be logged and transported to the company's facility at St. George's, Nfld., for sampling. The program is intended to establish whether the grades and mineralogy measured at surface continue at depth, to collect data for a possible future mineral resource estimate, and to provide material from across the occurrence for the variability and customer qualification testwork Anzaplan has recommended.

Exploration approval for diamond drilling has been issued by the Department of Energy and Mines. Site access work is under way, and a diamond drilling contractor has been engaged, with drilling expected to begin in Q4 2026. The $1.25-million flow-through private placement the company completed in May, 2026, funds the program, together with funding approved under the Province of Newfoundland and Labrador's Junior Exploration Assistance 2026 program. The company has engaged with the NunatuKavut Community Council and with Nunacor Development Corp. regarding the proposed drilling and intends to continue that engagement as the program proceeds.

Qualified person

The scientific and technical information in this news release has been reviewed and approved by Colin Hayes, PGeo, chief geologist, who is a qualified person as defined in National Instrument 43-101 -- Standards of Disclosure for Mineral Projects.

About Atlas Salt Inc.

Atlas Salt 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 24.3-year mine life, $188-million in average annual after-tax free cash flow, $920-million of after-tax NPV (net present value) 8 per cent, a 21.3-per-cent post-tax IRR (internal rate of return) 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.

The company also holds the Black Bay nepheline syenite property in southern Labrador, located about six kilometres from tidewater on the Trans Labrador Highway. Nepheline syenite is used as a source of alumina and alkalis in glass, ceramics and functional fillers; commercial deposits are uncommon and North America has one mine in production.

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