Company: JUPGF
Filing Date: 2025-10-08
Form Type: F-1/A
Source: 0001493152-25-017439
Chunk: 107

Company: ATLAS CRITICAL MINERALS Corp
Filing Date: 2025-10-08
Form: F-1/A
Chunk 107
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 countries seeking to replace coal and other fossil fuels. The
development of advanced nuclear technologies, such as small modular reactors (SMRs) and next-generation reactors, could further increase
demand for uranium. However, challenges such as public opposition to nuclear power, concerns about nuclear waste, and geopolitical tensions
surrounding uranium supply chains must be addressed. Given its critical role in energy and security, uranium will continue to be a vital
resource in the decades to come.

Uranium in Brazil

Brazil holds significant uranium reserves, ranking among the top ten countries globally in identified resources. However, uranium mining in Brazil is subject to stringent government control, as uranium extraction, processing, and commercialization fall under state monopoly, as defined by the Brazilian Constitution. Indústrias Nucleares do Brazil (“INB”) is the state-owned company responsible for uranium mining and nuclear fuel production in the country.

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The Federal Constitution establishes that “the exploration of nuclear services and facilities of any kind, as well as the state monopoly over the research, mining, enrichment, reprocessing, industrialization, and trade of nuclear ores and their derivatives,” is an exclusive competence of the Brazilian federal government. Furthermore, Law No. 14.514/2022 and Decree No. 51.726/1963 stipulate that Brazil’s federal monopoly includes:

| ● | Research                                                                                                                                     
 and mining of nuclear ore deposits located within national territory;                                                                        |
| ● | The                                                                                                                                          
 trade of nuclear ores and their concentrates, nuclear elements and their compounds, fissile and fertile materials, artificial radioisotopes, 
 radioactive substances from the three natural series, and nuclear by-products;                                                               |
| ● | The                                                                                                                                          
 production and industrialization of nuclear materials.                                                                                       |

Nuclear activities in Brazil are monitored by the National Nuclear Energy Commission (CNEN), and operations are conducted exclusively by INB, the sole company authorized to mine and process uranium in the country. Recently, Law No. 14.514/2022 allowed INB to provide services to national and international entities, both public and private, within Brazil or abroad, while maintaining Brazil’s federal monopoly. Additionally, nuclear activities in Brazil require legislative approval and are permitted solely for peaceful purposes, as per international agreements ensuring responsible use of nuclear energy.

Anticipating
potential legislative changes in Brazil in the coming years, we are strategically evaluating areas with uranium potential.

The following is a description
of the uranium* mineral rights owned by the Company. These rights are currently deemed by