Company: JUPGF
Filing Date: 2025-07-25
Form Type: DRS/A
Source: 0001641172-25-021053
Chunk: 63

Company: ATLAS CRITICAL MINERALS Corp
Filing Date: 2025-07-25
Form: DRS/A
Chunk 63
---
 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.

| 40 |

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, 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 91 of this prospectus, and “Business-Quartzite-Overview”
on page 97 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 535,000 U.S. jobs and $33.3 billion in payroll. They 
 also warn that disruptions could severely impact industries and quality of life.                                                                             |

| ● | 2020 Joint Action Plan with Canada: President Trump signed a Joint Action Plan with Canada                      
 to secure critical mineral supply chains, focusing on reducing reliance on foreign sources, particularly China. |
| ● | Energy Resource Governance Initiative (ERGI): The U.S. partnered with Australia and Botswana                    
 to promote transparent and sustainable mineral markets under the ERGI program.                                  |
| ● | Energy Act of 202