Company: JUPGF
Filing Date: 2025-08-27
Form Type: DRS/A
Source: 0001493152-25-012379
Chunk: 111

Company: ATLAS CRITICAL MINERALS Corp
Filing Date: 2025-08-27
Form: DRS/A
Chunk 111
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 by the lessee                      |     | All                                                                                                                                    
 material extracted from the 50,000 tons will be transported by the lessee and used to feed its industrial processing and concentration 
 plant, generating sinter feed sales product at 64% Fe.                                                                                 |
| Payment                                                                      
 terms to the lessor from the lessee with regard to the mineral right leasing |     | The                                                                                                                                    
 lessee monthly pays to the Lessor an amount per tonne of ROM extracted calculated as a percentage of                                   
 the Platts IODEX CFR CHINA 62% Fe $/DMT index determined in the reference month, with a minimum threshold determined by the contract;  |

The Lessee expects the metallurgical recovery from our ROM to be above 50% and may reach as high as 65%.

| 96 |

Quartzite

Overview

The following is an overview of our quartzite operations,
currently our sole revenue producing property. Although we are currently generating revenues from our quartzite operations, our production
of quartzite blocks and slabs is currently paused to address certain identified issues. The primary issue to be resolved is
the adoption of an updated drainage plan for the quarry. We have retained an engineering firm to prepare an updated drainage plan for
a cost of approximately $2,320, and expect to resume operations by year end 2025. Although we anticipate resuming
production, our primary focus is on our critical mineral properties.

Quartzite is a naturally occurring metamorphic
rock that forms when quartz-rich sandstone undergoes intense heat and pressure over millions of years. Composed primarily of quartz (silicon
dioxide, SiO₂), quartzite is known for its exceptional hardness, durability, and resistance to chemical weathering. These qualities
make it a highly sought-after material for a variety of industrial, architectural, and decorative applications. Quartzite occurs in a
range of colors, including white, gray, pink, and red, depending on the mineral impurities present during its formation. Its unique combination
of strength and aesthetic appeal has made it increasingly popular in construction and interior design.

Quartzite deposits are found worldwide, often
in regions with significant geological activity where sandstone has been subjected to metamorphism. Major producers of quartzite include
the United States, Brazil, India, South Africa, and Norway. In the United States, quartzite is primarily mined in states like South Dakota,
Utah, and Wisconsin. Brazil, known for its vibrant and colorful quartzite varieties, is