ST. JOHN'S, NL / ACCESS Newswire / April 14, 2025 / Atlas Salt Inc. ("Atlas Salt" or the "Company") (TSXV:SALT)(OTCQB:REMRF) is pleased to announce the successful completion of the geotechnical drilling and in-field data collection phase of its Geotechnical Drilling and Investigation Program at the Great Atlantic Salt Project in western Newfoundland. Data analysis and reporting activities remain underway, with final results anticipated in Q3 2025.
Geotechnical Drilling and Investigation Program Milestones
Completion of Fieldwork: The Company has finalized all drilling and in-field geotechnical data acquisition along the proposed decline path, gathering critical information on rock quality, structural conditions, and groundwater characteristics.
Data Analysis: The evaluation of core samples, core logging and hydrogeological data has commenced and will continue over the coming months. A geotechnical and hydrogeological report will guide the next stages of detailed design and construction.
Risk, Safety and Efficiency: The program's findings significantly de-risks the project and will be used to refine strategies for decline construction and decline dewatering, reducing geotechnical risks and ensuring a more efficient underground mine development process.
Robert Booth, Vice President of Construction & Engineering for Atlas Salt, commented: "Completing the field portion of our Geotechnical Drilling and Investigation Program on schedule is a major achievement for the Great Atlantic Salt Project. The data we've collected will help us make informed decisions that reduce risk, and enhance both safety and cost efficiency as we move toward construction."
The Company, in collaboration with Terrane Geoscience Inc. and GEMTEC Consulting Engineers and Scientists Ltd, will now focus on interpreting the data collected, incorporating it into detailed design parameters for the decline and box cut. This crucial process, which is expected to conclude in Q3 2025, lays the groundwork for a safe and robust capital development plan that meets the Company's technical, environmental, and operational objectives.
For further information and ongoing updates, please visit https://atlassalt.com.
The scientific and technical information contained in this news release has been approved by Andrew Smith, P.Eng., Mine Project Manager, who is a "Qualified Person" for the purposes of NI 43-101.
About Atlas Salt Inc.
Atlas Salt Inc. 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.
For information, please contact:
Patrick Laracy, Chairman
investors@atlassalt.com
(709) 739-9545
We seek safe harbor.
Cautionary Statement
Neither the TSX Venture Exchange nor its Regulation Services Provider, (as the term is defined in the Policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This press release includes certain "forward-looking information" and "forward-looking statements" (collectively "forward-looking statements") within the meaning of applicable Canadian securities legislation. All statements, other than statements of historical fact, included herein, without limitation, statements relating to the future operating or financial performance of the Company, are forward-looking statements. Forward-looking statements are frequently, but not always, identified by words such as "expects", "anticipates", "believes", "intends", "estimates", "potential", "possible", and similar expressions, or statements that events, conditions, or results "will", "may", "could", or "should" occur or be achieved. Forward-looking statements in this press release relate to, among other things: obtaining financing, completion, delivery and timing of project components and requirements, and analysis and assumptions related thereto. Actual future results may differ materially. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Forward-looking statements reflect the beliefs, opinions and projections on the date the statements are made and are based upon a number of assumptions and estimates that, while considered reasonable by the respective parties, are inherently subject to significant business, technical, economic, and competitive uncertainties and contingencies. Many factors, both known and unknown, could cause actual results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements and the parties have made assumptions and estimates based on or related to many of these factors. Such factors include, without limitation: the timing, completion and delivery of required permits, supply arrangements and financing. Readers should not place undue reliance on the forward-looking statements and information contained in this news release concerning these times. Except as required by law, the Company does not assume any obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change, except as required by law.
SOURCE: Atlas Salt Inc.
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