Company: JUPGF
Filing Date: 2025-09-25
Form Type: F-1/A
Source: 0001493152-25-014979
Chunk: 180

Company: ATLAS CRITICAL MINERALS Corp
Filing Date: 2025-09-25
Form: F-1/A
Chunk 180
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On December 20, 2024, the Articles of Incorporation of the Company were amended to change the name of the Company to Atlas Critical Minerals Corporation. This name change was carried out to reflect a broader focus of the Company following its merger with Apollo Resources Corporation.

| F-7 |

The Company’s mineral properties are in exploration or pre-exploration phases except for the following:

| ● | Rio                                                                                           
 Piracicaba Iron ore mineral right: Rio Piracicaba Iron ore mineral right: located in Rio      
 Piracicaba, in the ore quadrangle in Minas Gerais State, this mining right is fully permitted 
 for an open pit mine operation and a dry processing facility. The Company has entered into    
 a mining right lease agreement with a third party (Lessee). The lessee will be responsible    
 for the mining activities and will pay the Company an amount for each tonne mined based on    
 a percentage of the international price of iron ore 62% Fe. Operations are planned to be      
 started in the second half of 2025.                                                           |

| ● | Quartzite: the deposit is also located in Minas Gerais. In 2024, operations                                                            
 were started, and we produced and sold quartzite blocks and beneficiated slabs to clients in Brazil and abroad. Net revenues generated 
 during the year amounted to $667,131.                                                                                                  |

Segment reporting

The Company has one reportable segment: mining. The
mining segment derives revenue in Brazil by mining, beneficiating and selling material mined from the Company’s several mining rights.
Currently the Company generates revenue solely from its operating Quartzite project. The other mining projects are in exploration phase.

The accounting policies of the mining segment are
the same as those described in the summary of significant accounting policies.

The chief operating decision maker (CODM) of the mining
segment is the Company’s chief executive officer. The CODM regularly reviews the revenue, significant expenses categories, including
exploration and evaluation costs, and general and administrative expenses.

Total segment assets as of December 31, 2024, were
$2,380,910, primarily consisting of Mineral rights. These mineral rights are used by the CODM in decision-making, including resources
allocation, based on the exploration plan for the assets.

The CODM uses the gross profit of the reportable segment,
presented on the Company’s consolidated statements of operation, as the only profit and loss measure for the decision-making process
for the allocation of resources.

All