Company: JUPGF
Filing Date: 2025-08-11
Form Type: DRS/A
Source: 0001641172-25-022982
Chunk: 114

Company: ATLAS CRITICAL MINERALS Corp
Filing Date: 2025-08-11
Form: DRS/A
Chunk 114
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eral 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 economic growth. According to the U.S. Geological Survey, over 98% of mined iron ore is used in steel manufacturing.
Brazil exported approximately $30 billion in iron ore in 2024 and is the second biggest iron ore producer and exporter in the world,
after Australia. China remains the world’s largest importer of iron ore, and its demand continues to be a primary driver of the
global iron ore market. While fluctuations occur due to various economic factors within China, including government policies and the
performance of its real estate sector, its vast industrial base and ongoing infrastructure projects maintain a significant appetite for
steel and, consequently, iron ore. India’s demand also continues to grow, contributing to the overall global demand for iron ore.

Iron ore is a naturally occurring mineral from which
iron (Fe) is extracted. It is primarily composed of iron oxides, with the most common types being hematite (FeO)
and magnetite (FeO). Iron ore is a critical raw material in the production of steel, which is essential for construction,
manufacturing, and various industrial applications. The extraction and processing of iron ore involve several stages, including mining,
crushing, and beneficiation, which enhance the ore’s iron content before it is smelted in blast furnaces to produce pig iron and
subsequently steel.

As of 2023, the largest reserves of iron ore are
concentrated