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

Company: ATLAS CRITICAL MINERALS Corp
Filing Date: 2025-02-28
Form: 20-F
Item: Item 4
Chunk 25
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 and are working to advance our understanding of
its potential.

The
various critical minerals in our portfolio have various important applications. Rare earth elements are crucial for
permanent magnets used in electric motors and wind turbines, and for semiconductor and defense applications. Graphite is a key component
in lithium-ion batteries, while titanium has applications in aerospace and medical technologies. Copper and nickel are essential for electric
vehicle batteries and renewable energy infrastructure.

Our
exploration activities to date have included geological mapping, geochemical
sampling, geophysical surveys, and limited exploratory drilling to identify potential mineralized zones within a few of our mineral rights.
As we advance our understanding of these critical mineral properties, we may conduct extensive exploratory programs including drilling
campaigns to identify and quantify mineral resources. Our exploration programs follow the accepted guidelines under Regulation S-K Item
1300 (“ Regulation S-K 1300”).

We aim to create value through continued exploration,
resource delineation, and potential development of these assets over time. By maintaining a diverse portfolio of critical minerals projects,
our objective is to seek to position us as a significant player in the global critical minerals supply chain.

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  Table of Contents  

Revenue-Generating

Quartzite

On
October 31, 2022, our quartzite project received its operational permit for 10 years (the maximum grant time) of open pit mining
from the state of Minas Gerais regulatory agency. This permit is valid until October 31, 2032, and renewable for additional periods subject to
application prior to expiration.

In2024, our quartzite operation generated gross
revenues of $748,654 and gross margins of $265,694 or 35.49%. During 2024, our quartzite operation produced 610.09 cubic meters (m 3 2 2 2 3 2 3 2

Near
Revenue-Generating Properties (Revenues Expected in 2025)

Iron
Ore

The
International Energy Agency (“ IEA”), an autonomous intergovernmental organization, established in 1974, that provides policy
recommendations, analysis and data on the global energy sector, of which the United States is a member country, listed iron ore in its
October 2022 “ Targeted Critical Minerals and Metals List”, described as “a list of critical minerals and metals deemed
essential for responding to shift towards the green economy, low carbon energy, and digitization among others.”

On
May 14,