Company: JUPGF
Filing Date: 2025-02-28
Form Type: 20-F
Source: 0001493152-25-008689
Chunk: 2

Company: ATLAS CRITICAL MINERALS Corp
Filing Date: 2025-02-28
Form: 20-F
Item: Item 3
Chunk 2
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, results of operations, and cash flows may be negatively
affected.

Because
the probability of an individual prospective mineral deposit ever having reserves is not known, any funds
spent on exploration and evaluation may be lost if our properties do not contain any reserves.

We
are an exploration stage company, and we have no “reserves” as such term is defined by Regulation S-K Item 1300 (“ Regulation S-K 1300”). We
cannot assure you about the existence of economically extractable mineralization at this time, nor about the quantity or grade of
any mineralization we may have found. Because the probability of an individual prospect ever having reserves is uncertain, any funds
spent on evaluation and exploration may be lost and our properties may not contain any reserves. Even if we confirm reserves on our properties, any quantity or grade of reserves
we indicate must be considered as estimates only until such reserves are mined. We do not know with certainty that economically
recoverable minerals exist on our properties. In addition, the quantity of any reserves may vary depending on commodity prices. Any
material change in the quantity or grade of reserves may affect the economic viability of our properties. Further, our lack of
established reserves means that we are uncertain about our ability to generate revenue from our operations.

We
face risks related to mining, exploration and mine construction, if warranted, on our properties.

Our
level of profitability, if any, in future years will depend to a great degree on whether
our exploration-stage properties can be brought into production. It is impossible to ensure that the current and future exploration programs
and/or feasibility studies on our existing properties will establish reserves. Whether it will be economically feasible to extract a
mineral depends on a number of factors, including, but not limited to: the particular attributes of the deposit, such as size, grade
and proximity to infrastructure; mineral prices; mining, processing and transportation costs; the willingness of lenders and investors
to provide project financing; labor costs and possible labor strikes; and governmental regulations, including, without limitation, regulations
relating to prices, taxes, royalties, land tenure, land use, importing and exporting materials, foreign exchange, environmental protection,
employment, worker safety, transportation, and reclamation and closure obligations. The exact effect of these factors cannot be accurately
predicted, but the combination of these factors may result in us receiving an inadequate return on invested capital.

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We
are subject to the effects of changing prices.

In