(MENAFNEditorial) TORONTO, April 02, 2018 (GLOBE NEWSWIRE) -- Global Atomic Corporation ('Global Atomic' or the 'Company'), (TSX-V: GLO ) regretfully announces the passing of H. Douglas Scharf, a member of the Board of Directors and chair of the Audit Committee.
Mr. Scharf had a prolific mining career, contributing over 30 years to precious and base metals mining companies and projects in Canada and internationally. Mr. Scharf was formerly Executive Vice President, Corporate Development of HudBay Minerals Inc., Chief Financial Officer and Director of Southern Cross Resources Inc., Chief Financial Officer and Director of Inmet Mining Corporation, Chief Financial Officer of the Dome Mines Group and subsequently Vice President, Finance of Placer Dome Inc. Mr. Scharf also formerly served as CFO and Director of Silvermet Inc., Director of Gold Eagle Mines Ltd. and Chairman of Asia Now Resources Corp. Mr. Scharf held a Bachelor of Arts degree in Economics from York University in Toronto, as well as being a Chartered Accountant and CPA.
Stephen G. Roman, President and CEO of Global Atomic, commented, 'Doug has been a close friend for many years and was an invaluable member of the Global Atomic family and will be sorely missed. We appreciate his dedication to the Company, experience and expertise and extend our sincere condolences to Doug's family at this difficult time.'
About Global Atomic
Global Atomic is a TSX Venture listed company providing a unique combination of high grade uranium development and cash flowing zinc concentrate production. Global Atomic's Uranium Division includes six exploration permits in the Republic of Niger covering an area of approximately 750 km2. Uranium mineralization has been identified on each of the permits, with the most significant discovery being the DASA deposit situated on the Adrar Emoles III concession, discovered in 2010 by Global Atomic geologists through grassroots field exploration. The DASA deposit is currently under development in order to begin shipments to Orano Mining's uranium processing plant in Arlit, Republic of Niger, under an MOU signed in July 2017.
Global Atomic's Base Metals Division holds a 49% interest in the BST joint venture, operating a facility located in Iskenderun, Turkey that converts EAFD (Electric Arc Furnace Dust) into a high grade zinc oxide concentrate which is sold to zinc smelters around the world. The Company's joint venture partner, Befesa Zinc S.A.U. ('Befesa'), holds a 51% interest in and is the operator of BST. Befesa is a market leader in EAFD recycling, capturing approximately 45% to 50% of European EAFD market with facilities located throughout Europe and Korea.
Key contacts:
Stephen G. Roman George A. Flach, P.Geo.
Chairman, President & CEO Vice President, Exploration
Tel: (416) 368-3949 Tel: (416) 368-3949
Email: Email:
The information in this release may contain forward-looking information under applicable securities laws. This forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause actual results to differ materially from those implied by the forward-looking information. Factors that may cause actual results to vary include, but are not limited to, inaccurate assumptions concerning the exploration for and development of mineral deposits, political instability, currency fluctuations, unanticipated operational or technical difficulties, changes in laws or regulations, the risks of obtaining necessary licenses and permits, changes in general economic conditions or conditions in the financial markets and the inability to raise additional financing. Readers are cautioned not to place undue reliance on this forward-looking information. The Company does not assume the obligation to revise or update this forward-looking information after the date of this release or to revise such information to reflect the occurrence of future unanticipated events, except as may be required under applicable securities laws.
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