Company: JUPGF
Filing Date: 2025-07-01
Form Type: DRS/A
Source: 0001641172-25-017223
Chunk: 97

Company: ATLAS CRITICAL MINERALS Corp
Filing Date: 2025-07-01
Form: DRS/A
Chunk 97
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 in Vespasiano, Minas Gerais, a well-regarded independent facility.

We have identified significant graphite schist bodies within both analyzed areas, intercalated as lenses within mica schist. The area identified by the registration 830.954/2021 stands out as the most promising, with two highly significant occurrences. The graphite observed exhibits strong characteristics indicative of high-quality, as evidenced by the distinctive mineralogical signature of the streak.

<div align='center'>Figure 67 – Flake-shaped graphite and Graphite Schist outcrop</div>

Uranium

Overview

Uranium is essential for nuclear energy and weapons. The U.S. imports ~95% of uranium, primarily from Canada and Kazakhstan. China controls 13% of global production.

Uranium is a dense, silvery-white metal with
the chemical symbol U and atomic number 92. It is a naturally occurring element found in rocks, soil, and water, and it is best known
for its role as the primary fuel for nuclear power plants. Uranium’s unique properties, including its ability to undergo nuclear
fission—where the nucleus of an atom splits, releasing a significant amount of energy—make it a critical resource for generating
electricity and powering nuclear reactors. In addition to its energy applications, uranium also has important uses in military technologies,
including nuclear weapons and naval propulsion systems for submarines and aircraft carriers.

The global distribution of uranium reserves
is concentrated in a few key countries. Australia holds the largest share, accounting for approximately 28% of the world’s known
recoverable reserves, followed by Kazakhstan and Canada. Together, these three countries dominate global uranium production, with Kazakhstan
being the largest producer, responsible for over 40% of the world’s supply. Other significant producers include Namibia, Niger,
and Russia. The United States also has substantial uranium reserves, primarily in Wyoming and New Mexico, but domestic production has
declined significantly in recent decades, leaving the country reliant on imports to meet its needs.

Uranium’s primary use is in the generation
of nuclear energy. Nuclear power plants use enriched uranium, typically in the form of uranium dioxide pellets, as fuel to produce electricity
through controlled nuclear fission reactions. This process provides a reliable, low-carbon source of energy, making nuclear power an
important component of efforts to combat climate change. In addition to civilian energy production, uranium is essential for military
applications. Highly enriched uranium is used in the production of nuclear weapons, while lower