Company: JUPGF
Filing Date: 2025-09-15
Form Type: F-1
Source: 0001493152-25-013292
Chunk: 114

Company: ATLAS CRITICAL MINERALS Corp
Filing Date: 2025-09-15
Form: F-1
Chunk 114
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 environmentally    
 rehabilitate the area after the contract ends. Also assumes royalty payments and Financial Compensation for the Exploration of Mineral 
 Resources (CFEM).                                                                                                                      |
| Work                                                                         
 and additional costs                                                         |     | Lessor:                                                                                                                                
 cost of vegetation removal + 0.45% royalty due to the property owner                                                                   
 Lessee:                                                                                                                                
 exploration cost, understood as the costs of opening the pit, operating the mine, mining the ROM, transporting the ROM and processing  
 the material extracted from the mine + 1.75% royalty due to the property owner                                                         |
| Volumes                                                                      
 of ore expected to be extracted and processed                                |     | 50,000                                                                                                                                 
 tons per quarter is the minimum contracted mining volume.                                                                              |
| Volumes                                                                      
 of processed products expected to be sold 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