ST. JOHN’S, Newfoundland and Labrador, Nov. 03, 2022 (GLOBE NEWSWIRE) —

Atlas Salt Inc.

(TSXV: SALT) (OTCQB: REMRF) (“

Atlas Salt

”) announces that it has authorized the grant of 1,125,000 Directors’ and Officers’ stock options and 650,000 employee and consultant stock options, all exercisable at $2.35 per share for variable terms and vesting periods consistent with the Company’s stock option plan and subject to TSXV Stock Exchange approval. The Company has reserved 8,761,564 listed shares for issuance under its stock option plan, of which 6,475,000 options have been issued prior to the current issue.

About Atlas Salt

Atlas Salt owns 100% of the Great Atlantic salt deposit strategically located in western Newfoundland in the middle of the robust eastern North America road salt market. The project features a large homogeneous high-grade resource located immediately next to a deep water port. Atlas is also the largest shareholder in Triple Point Resources as it pursues development of the Fischell’s Brook Salt Dome in the heart of an emerging Clean Energy Hub on the west coast of Newfoundland.

For information with respect to Atlas Salt, please contact:

Forward-Looking Statements

Certain information contained herein constitutes forward-looking information or statements (“forward looking statements”) under applicable securities legislation and rules. Generally, forward-looking information can be identified by the use of forward-looking terminology such as “will be”, or variations of such words and phrases or statements that certain actions, events or results “will” occur. All statements within, other than statements of historical fact, are to be considered forward looking. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements. There can be no assurances that such statements will prove accurate and, therefore, readers are advised to rely on their own evaluation of such uncertainties. We do not assume any obligation to update any forward-looking statements except as required under the applicable laws.

TSX Venture Exchange Disclaimer

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.