Company: JUPGF
Filing Date: 2025-09-15
Form Type: F-1
Source: 0001493152-25-013292
Chunk: 173

Company: ATLAS CRITICAL MINERALS Corp
Filing Date: 2025-09-15
Form: F-1
Chunk 173
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 that were communicated or required to be communicated to the
audit committee and that: (1) relate to accounts or disclosures that are material to the financial statements and (2) involved our especially
challenging, subjective, or complex judgments. The communication of critical audit matters does not alter in any way our opinion on the
consolidated financial statements, taken as a whole, and we are not, by communicating the critical audit matters below, providing separate
opinions on the critical audit matters or on the accounts or disclosures to which they relate.

Determination of accounting
in an assets acquisition transaction.

As discussed in note 2
to the consolidated financial statement, On November 19, 2024, Jupiter Gold Corporation acquired the assets of Apollo Resource
Corporation. Following the acquisition, Jupiter Gold Corporation was renamed Atlas Critical Mineral Corporation. The transaction was accounted for as an asset acquisition between entities under common control in accordance with ASC 805.

We identified the company’s determination of
the asset acquisition as a Critical Audit Matter due to the significant judgment and estimation involved in valuing the acquired assets
and liabilities and assessing whether the transaction qualified as a common control transaction.

The primary procedures we performed to address this critical audit matter included:

| 1. | Our audit procedures for this Critical Audit Matter included reviewing the relevant clauses of the agreement to evaluate the accounting 
 treatment of the transaction under US GAAP, assessing the fair value of acquired assets estimated by management’s third-party valuation 
 specialist to determine the appropriateness of asset acquisition accounting, verifying the voting rights held by management to confirm  
 the transaction qualified as a common control transaction, and reviewing the transfer of assets to ensure they were properly recorded   
 at their historical value in accordance with ASC 805-50                                                                                 |
| 2. | Evaluating                                                                                                                              
 the appropriateness of disclosures in the financial statements is in accordance with ASC                                                
 805-50 for Acquisition of Assets in Note 2 to the consolidated financial statement.                                                     |

[unsigned]

For, Pipara & Co LLP (6841)

We have served as the Company’s auditor since
2024

Place: Mumbai, India

Date: February 27, 2025, except for the segment reporting as described
in note 1, as to which the date is July 25, 2025 and except for the effects of the reverse stock split as discussed in note 5, as to which
the date is [ ], 2025.

| F-2 |

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