Company: JUPGF
Filing Date: 2025-08-27
Form Type: DRS/A
Source: 0001493152-25-012379
Chunk: 105

Company: ATLAS CRITICAL MINERALS Corp
Filing Date: 2025-08-27
Form: DRS/A
Chunk 105
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. As of 2023, Brazil ranks as the eighth-largest nickel producer
in the world, contributing approximately 2% of global nickel output. The country has seen a CAGR of 3%
in nickel production from 2017 to 2022, with expectations of an accelerated growth rate of 8% CAGR from 2023 to 2027. Major producers
in Brazil include mining giants such as Vale and Anglo American, which have been expanding their operations and increasing output. For
instance, Vale’s nickel production has been bolstered by its extensive mining infrastructure and commitment to sustainable practices,
while Anglo American reported a 32% increase in output during 2020-2021.

The demand for nickel is expected to rise significantly,
driven by its critical role in battery production for EVs and renewable energy technologies. Brazil’s rich
nickel reserves, combined with its strategic initiatives to enhance mining operations and attract foreign investment, position the country
to capitalize on this growing demand. The Brazilian government is actively promoting the development of its mineral resources, which
includes streamlining licensing processes and improving environmental standards to ensure sustainable mining practices. As global
markets shift towards greener technologies, Brazil’s nickel industry is poised for substantial growth, potentially increasing its
share in the international market and contributing to the country’s economic development.

| 90 |

The following is a description of our nickel
mineral right owned by the Company. This right is currently deemed by management to be immaterial to the Company’s current development
plan; however, as the Company’s business develops and market conditions render the further development and extraction of nickel
economically feasible, management intends to monetize its mineral right set forth below.

| Project |     | Mineral      
 Right Number |              |     | Area       
 (hectares) |          |     | Mineral |        |     | Municipality     |     | State, Country |
| Piauí   |     |              | 803.031/2021 |     |            | 1,101.24 |     |         | Nickel |     | Capitão Gervásio |     | Piauí, Brazil  |

Iron Ore

Overview

The following is an overview of our planned iron
ore operations. Although we have a permit to operate an iron ore mine with planned operations commencing prior to the end of 2025, our
primary focus is on our critical mineral properties.

Historically, iron has been an essential metal
to human development and