Company: JUPGF
Filing Date: 2025-07-01
Form Type: DRS/A
Source: 0001641172-25-017223
Chunk: 61

Company: ATLAS CRITICAL MINERALS Corp
Filing Date: 2025-07-01
Form: DRS/A
Chunk 61
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 (1.5%) of the gross revenues from any of the mineral rights owned by, or being formally transferred to, the Company or any of its subsidiaries pursuant to the Option Agreement (the “Royalty”). The Royalty shall be subject to the terms and conditions of a royalty agreement to be mutually negotiated and entered into by and between the Company and Atlas Lithium on the date of the Company’s Option Exercise.

The Option is exercisable no earlier than the filing by the Company of a Form F-1 registration statement with the SEC, in connection with listing of the Company’s common stock on Nasdaq, and within 12 months thereafter (the “Option Term”). If the Company does not exercise the Option within the Option Term, the Option will automatically expire on the last day of the Option Term, unless the parties to this Agreement mutually agree to extend the Option Term in writing.

As consideration for entering into the Option Agreement, we issued to Atlas Lithium 797,957 shares of our common stock.

The Option Exercise shall be subject to such terms and subject to such conditions to be set forth in a separate purchase agreement to be entered between the parties at the time of the Option Exercise. The foregoing summary is qualified in its entirety by reference to the Option Agreement filed as Exhibit 10.1 to this Registration Statement.

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Primary Exploration Focus

Our primary exploration focus is
on advancing our rare earths, titanium, and graphite projects to support the growing global demand for these critical minerals. Although
our primary focus is on our critical material mineral properties which are currently in development, we also have a quartzite
operation, which was previously our sole property generating revenues, as well as a permit to operate an iron ore mine with planned
operations commencing prior to the end of 2025. See “Business-Iron Ore-Overview” on page 92 of this prospectus, and
“Business-Quartzite-Overview” on page 98 of this prospectus.

Critical Minerals and Geopolitical Background

The U.S.
sits atop a vast and intricate supply chain, relying on scarce and strategically critical minerals for its economy and national security—yet
it controls only a fraction of global reserves.

| ● | Limited Domestic Supply: The U.S.  holds less than 2% of global reserves for rare                                                                            
 earth elements, graphite, cobalt, and nickel.                                                                                                                |
| ● | Economic Impact of Supply Disruptions:  Rare earths drive $298 billion in economic activity, supporting