Atlas Salt enters MOU with CN on Great Atlantic Salt project logistics

St. George's, Newfoundland and Labrador--(Newsfile Corp. - August 20, 2026) - Atlas Salt Inc. (TSXV: SALT) (OTCQX: SALQF) (FSE: 9D00) ("Atlas Salt" or the "Company") announces that it has entered into a non-binding Memorandum of Understanding (the "MOU") with CN ("CN"), one of North America's leading Class I railroads, to explore multi-modal rail solutions for the distribution of de-icing salt from the Company's Great Atlantic Salt Project (the "Project") in Newfoundland and Labrador.

The MOU aims to assess how integrating rail logistics can reduce the Project's delivered salt costs, expand its addressable market, and ultimately improve the Project's economics relative to the Updated Feasibility Study.

Nolan Peterson, CEO of Atlas Salt, commented:

"Logistics is the single largest driver of delivered cost in the de-icing salt business, and we are systematically engineering every leg of our supply chain to maximize our competitive advantages. Collaborating with a partner of CN's calibre to explore building out the rail component of our strategy is an important step, and it reflects the disciplined, cost and value focused approach we are taking across the Project."

Buck Rogers, Vice-President Petroleum, Chemicals & Regional at CN, commented:

"CN is committed to working with customers to develop efficient and resilient supply chain solutions. We look forward to exploring with Atlas Salt how our network can support the movement of its product to markets across Eastern Canada and beyond."

Under the MOU, Atlas Salt and CN intend to explore:

Rail movement of de-icing salt on lanes served by CN's network;

Railcar supply and equipment solutions to support Atlas Salt's distribution requirements; and

Transload arrangements linking Atlas Salt's marine distribution with CN's inland rail network and logistics partnerships.

The MOU establishes a framework for the parties to jointly evaluate the use of CN's bulk-freight rail network and ancillary logistics relationships to complement Atlas Salt's marine-centric logistics model, under which product is shipped by vessel from the Port of Turf Point to discharge ports along the eastern seaboard. Rail is evolving into a significant component of Atlas Salt's broader multimodal distribution strategy, which the Company continues to optimize to reduce delivered cost, expand its addressable market, and potentially expand profitability. In the Company's updated feasibility study for the Project, delivery port to final customer distribution was contemplated to be completed almost entirely by trucking - understanding the ability to transition much of this distribution to rail has the potential to significantly improve project economics.

The MOU is non-binding and does not commit either party to enter into a definitive agreement. The parties intend to work together in good faith to develop the scope, terms and commercial framework of a potential multimodal rail logistics partnership.

For further information and ongoing updates, please visit https://www.atlassalt.com .

About Atlas Salt

Atlas Salt is developing North America's next salt mine and is committed to responsible and sustainable mining practices. With a focus on innovation and efficiency, the company is poised to make significant contributions to the North American salt market while upholding its values of environmental stewardship and community engagement.

About CN

CN powers the economy by safely transporting more than 300 million tons of natural resources, manufactured products, and finished goods throughout North America every year for its customers. With its nearly 20,000-mile rail network and related transportation services, CN connects Canada's Eastern and Western coasts with the U.S. Midwest and the U.S. Gulf Coast, contributing to sustainable trade and the prosperity of the communities in which it operates since 1919.

For information, please contact:

Nolan K. Peterson, CEO and Director investors@atlassalt.com (709) 275-2009

We seek safe harbour.

Cautionary Statement

This news release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. Forward-looking information includes, but is not limited to, statements with respect to: the advancement of the Great Atlantic Salt Project towards production; the Company's development plans, operational readiness and construction planning; the Company's salt marketing and distribution strategies; vesting of compensation securities ; and analysis and assumptions related thereto. Forward-looking information is generally identifiable by use of the words "believes", "may", "plans", "will", "anticipates", "intends", "could", "estimates", "expects", "forecasts", "projects" and similar expressions, and the negative of such expressions. Forward-looking information is subject to known and unknown risks and uncertainties that may cause actual results to differ materially from those anticipated or implied in the forward-looking information. The Company's forward-looking information is based on the assumptions that: the Company will be able to obtain all required approvals for the Great Atlantic Salt Project; general business and economic conditions will not change in a materially adverse manner; the Company will be able to obtain financing as required. Risk factors that could cause actual results to differ materially include, but are not limited to: failure to obtain necessary financing; changes in general economic, business and political conditions; changes in applicable laws and regulations; compliance with extensive government regulation; and other risks described in the Company's public disclosure documents filed on SEDAR+. The Company cautions that the foregoing list of risk factors is not exhaustive. The forward-looking information contained in this news release is made as of the date hereof and the Company is not obligated to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. Because of the risks, uncertainties and assumptions contained herein, investors should not place undue reliance on forward-looking information. The foregoing statements expressly qualify any forward-looking information contained herein.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/310565

TMX Newsfile

August 20, 2026 - 4:00 AM PDT

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