Tag: Atlas Lithium Corporation

Atlas Lithium’s Neves Project Completes Definitive Feasibility Study Estimating 145% IRR and 11-Month Payback

Atlas Lithium Corporation (NASDAQ: ATLX) (Atlas Lithium or Company), a leading lithium development company, is pleased to announce that SGS Canada Inc. (SGS) has completed the Definitive Feasibility Study (DFS) for the Company’s 100%-owned Neves Lithium Project (Project), a technical report prepared under the U.S. guidelines of Item 1300 of Regulation S-K (Regulation S-K 1300). This hard-rock Project is well-suited to being a low-cost open-pit mining operation, as its spodumene deposits are located relatively close to the surface. Located in the state of Minas Gerais, Brazil, the Project encompasses 4 of the 98 mineral rights for lithium owned by Atlas Lithium. As detailed in the DFS, the Neves Project is expected to deliver strong financial metrics with an internal rate of return (“IRR”) of 145%, payback in 11 months from the start of operations, and an after-tax net present value (“NPV”) of $539 million. Importantly, the DFS estimates the Neves Project to have operational production costs of only $489 per tonne of lithium concentrate, positioning Atlas Lithium among the world’s lowest-cost producers. Complete details of these metrics can be found in the DFS, filed with the Securities and Exchange Commission as an exhibit to the Company’s Quarterly Report on Form 10-Q for the quarter ended June 30, 2025. Marc-Antoine Laporte from SGS serves as the Qualified Person for the DFS under Regulation S-K 1300. SGS is well-known as a global leader in testing, inspection, and certification services for mineral properties and projects.

Industry-Leading Capital Efficiency and Low Operating Costs
The DFS supports that expected direct capital expenditures of $57.6 million will be needed for the implementation of the Project, by far the lowest such capital costs among other announced projects in Brazil. Notably, Atlas Lithium has already invested approximately $30 million in acquiring and transporting the Project’s newly fabricated dense media separation (“DMS”) plant to Brazil, as previously reported. The Company has secured two non-dilutive pre-payment agreements for its lithium concentrate totaling $40 million and has received additional funding interest from other parties, including 10-year debt financing options, any of which could support the Project’s capital requirements.

The Company believes that the DFS validates the Project’s strong economics, positioning it among the most capital-efficient and lowest-cost hard-rock lithium developments globally. The Project will employ proven DMS technology, with comprehensive metallurgical testing demonstrating an expected robust lithium recovery rate of 61.7% to produce high-quality, low-impurity lithium concentrate. This relatively straightforward, low-risk DMS processing methodology minimizes technical complexity and operational risk while enabling a low environmental footprint.

Atlas Lithium’s mineral right to be mined, as detailed in the DFS, received its “Portaria de Lavra” (mining concession) status from Brazil’s Ministry of Mines and Energy on May 27, 2025 — the highest level of titleship in Brazil and one that allows continuous mining operations. Multiple deposit areas within the Project remain open for resource expansion along strike and at depth and are thus expected to extend the life of mine. Additionally, numerous high-potential geological targets remain within the Project’s mineral rights, providing compelling opportunities for future exploration.

Located in the established Araçuaí Pegmatite District in the Vale do Jequitinhonha, often called Lithium Valley, the Project benefits from favorable infrastructure, including proximity to transportation networks, water resources, and skilled labor. The Project qualifies for tax incentives from the Superintendency for the Development of the Northeast (SUDENE), as promulgated by Brazil’s Ministry of Integration and Regional Development, reducing the corporate tax rate from 34% to 15.25% and further enhancing profitability.

“The DFS indicates potentially outstanding returns for our initial vision of developing a focused, near-term, profitable lithium production asset with minimal capital requirements,” said Marc Fogassa, Chairman and CEO of Atlas Lithium. “The combination of our low capital intensity and rapid payback period is expected to create exceptional value for our shareholders while positioning Atlas Lithium to benefit from future organic expansion opportunities at Neves and other high-potential lithium areas that we own. Importantly, we are creating many quality employment opportunities in the Vale do Jequitinhonha region, representing a significant societal contribution of our Project.”

Experienced Leadership Driving Project Implementation
Following his leadership role in collaborating with SGS on the DFS, project implementation activities are being supervised by Eduardo Queiroz, Atlas Lithium’s Project Management Officer (PMO) and Vice President of Engineering. Mr. Queiroz has more than two decades of hands-on experience managing complex, large-scale mining projects.

“The DFS demonstrates the technical robustness of the Project, with proven DMS technology and comprehensive metallurgical test work validated by SGS, a premier firm in the lithium space,” said Mr. Queiroz. “With our processing plant fully fabricated and paid for, and now with the DFS in hand, we have systematically de-risked the Project. I am excited to lead the implementation phase of Atlas Lithium’s journey to becoming a lithium producer.”

Salinas and Clear: The Next Expansion Frontier
Atlas Lithium is strategically positioned to capitalize on its extensive regional lithium exploration portfolio in Brazil, particularly through advancement of its Salinas Project and Clear Project, both 100% owned by the Company. Atlas Lithium’s Salinas Project is just 5 miles east of the Colina lithium asset previously owned by Latin Resources — a major factor in Pilbara Minerals’s acquisition of that company in 2024 for approximately $370 million. At the Salinas Project, Atlas Lithium has already achieved promising initial results, including the discovery of spodumene-rich pegmatites very close to the surface, and highly positive results from soil geochemistry and from LIDAR geological mapping.

Atlas Lithium’s Clear Project is located less than 4 miles from Sigma Lithium’s operating lithium mine, and represents significant untapped potential with highly positive results from soil geochemistry and from LIDAR geological mapping.

Diversification in Critical Minerals
Atlas Lithium also owns approximately 30% of Atlas Critical Minerals Corporation (OTCQB: JUPGF), a separate company with exploration programs in uranium, rare earths, titanium, and graphite.

About Atlas Lithium Corporation
Atlas Lithium Corporation (NASDAQ: ATLX) is a lithium development company focused on advancing its Neves Project to production. The Neves Project’s Definitive Feasibility Study demonstrates excellent economics with a 145% IRR, $539 million NPV, and an 11-month payback. The Neves Project has received operational permitting, and its dense media separation plant has been acquired and transported to Brazil. With approximately 539 square kilometers of lithium mineral rights, Atlas Lithium owns the largest lithium exploration footprint in Brazil among publicly listed companies. Additionally, Atlas Lithium currently holds an approximate 30% ownership stake in Atlas Critical Minerals Corporation (OTCQB: JUPGF).

Safe Harbor Statement
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements are based upon the current plans, estimates and projections of Atlas Lithium and its subsidiaries and are subject to inherent risks and uncertainties which could cause actual results to differ from the forward-looking statements. Such statements include, among others, those concerning market and industry segment growth and demand and acceptance of new and existing products; any projections of production, reserves, sales, earnings, revenue, margins or other financial items; any statements of the plans, strategies and objectives of management for future operations; any statements regarding future economic conditions or performance; uncertainties related to conducting business in Brazil, as well as all assumptions, expectations, predictions, intentions or beliefs about future events. Therefore, you should not place undue reliance on these forward-looking statements. The following factors, among others, could cause actual results to differ from those set forth in the forward-looking statements: Atlas Lithium’s ability to successfully assemble and begin operations of its modular plant; reaching estimated production, development plans and cost estimates for the Neves Lithium Project as reported in the Definitive Feasibility Study (the “DFS”); discrepancies between actual and estimated mineral reserves and mineral resources, between actual and estimated development and operating costs, and between estimated and actual production; results from ongoing geotechnical analysis of projects; business conditions in Brazil; general economic conditions, geopolitical events, and regulatory changes; availability of capital; Atlas Lithium’s ability to maintain its competitive position; manipulative attempts by short sellers to drive down our stock price; and dependence on key management.

Additional risks related to the Company and its subsidiaries are more fully discussed in the section entitled “Risk Factors” in the Company’s Form 10-K filed with the Securities and Exchange Commission (the “SEC”) on March 28, 2025, and in the Company’s Form 10-Q filed with the SEC on August 4, 2025. Please also refer to the Company’s other filings with the SEC, all of which are available at www.sec.gov. In addition, any forward-looking statements represent the Company’s views only as of today and should not be relied upon as representing its views as of any subsequent date. The Company explicitly disclaims any obligation to update any forward-looking statements.

Investor Relations
Gary Guyton
Vice President, Investor Relations
+1 (833) 661-7900
gary.guyton@atlas-lithium.com
https://www.atlas-lithium.com/
@Atlas_Lithium

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Atlas Lithium’s Neves Project Is Now Permitted

Atlas Lithium Corporation (NASDAQ: ATLX) (“Atlas Lithium” or “Company”), a leading lithium exploration and development company, is pleased to announce that it received the operational permit for its Neves Project from the government of the state of Minas Gerais in Brazil. With this positive decision, Atlas Lithium has all the needed authorizations to assemble and run its processing plant and develop open-pit mining operations at one of its lithium deposits. This marks a crucial milestone in the Company’s goal of becoming a lithium producer.

On October 25, 2024, a voting board comprised of twelve representatives from the local civil society and government unanimously approved Atlas Lithium’s license application for its Neves Project, resulting in the formal issuance of the permit. On October 26, 2024, the permit was formally published in the official gazette of the Minas Gerais government. This outcome follows the technical recommendation for approval issued by the Environmental Foundation of Minas Gerais in September 2024.

The permit authorizes Atlas Lithium to assemble and operate its lithium processing plant, to process mined ore from one of its deposits at the facility, and to sell the lithium concentrate that it produces. This key development comes after an extensive technical review process by regulatory agencies that began with the Company’s initial permit application on September 1, 2023. The triphasic permit obtained by Atlas Lithium is the most expeditious licensing modality available as it encompasses the initial, the installation, and the operating licenses all within this same issued authorization (known as “LI/LP/LO” in the local regulatory terminology).

Marc Fogassa, CEO of Atlas Lithium, commented, “We are thrilled with today’s announcement, as permitting is widely considered the most critical risk in any mining project. Atlas Lithium’s permit reflects fourteen months of our team’s meticulous work throughout the licensing process and showcases our unwavering commitment to developing an environmentally responsible and sustainable operation in Brazil’s Lithium Valley – a mineral district which is rapidly establishing itself as a premier location in the global lithium supply chain. This milestone marks a key step for us towards becoming a lithium producer and advances Atlas Lithium into the next phase of our growth trajectory.”

“We are committed to being a responsible corporate citizen for all our stakeholders. With the news provided today, and as the Neves Project proceeds towards implantation and operation, Atlas Lithium will create hundreds of local jobs in the Vale do Jequitinhonha area of Minas Gerais. Additionally, our lithium processing plant is engineered to possibly achieve the smallest environmental footprint in its class,” said Rodrigo Menck, a member of the Board of Directors of the Company.

About Atlas Lithium Corporation

Atlas Lithium Corporation (NASDAQ: ATLX) is focused on advancing and developing its 100%-owned hard-rock lithium project in the state of Minas Gerais. In addition, Atlas Lithium has 100% ownership of mineral rights for other battery and critical metals including nickel, rare earths, titanium, graphite, and copper. The Company also owns equity stakes in Apollo Resources Corp. (private company; iron) and Jupiter Gold Corp. (OTCQB: JUPGF) (gold and quartzite).

Safe Harbor Statement

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward looking statements are based upon the current plans, estimates and projections of Atlas Lithium and its subsidiaries and are subject to inherent risks and uncertainties which could cause actual results to differ from the forward- looking statements. Such statements include, among others, those concerning market and industry segment growth and demand and acceptance of new and existing products; any projections of production, reserves, sales, earnings, revenue, margins or other financial items; any statements of the plans, strategies and objectives of management for future operations; any statements regarding future economic conditions or performance; uncertainties related to conducting business in Brazil, as well as all assumptions, expectations, predictions, intentions or beliefs about future events. Therefore, you should not place undue reliance on these forward-looking statements. The following factors, among others, could cause actual results to differ from those set forth in the forward-looking statements: results from ongoing geotechnical analysis of projects; business conditions in Brazil; general economic conditions, geopolitical events, and regulatory changes; availability of capital; Atlas Lithium’s ability to maintain its competitive position; manipulative attempts by short sellers to drive down our stock price; and dependence on key management.

Additional risks related to the Company and its subsidiaries are more fully discussed in the section entitled “Risk Factors” in the Company’s Form 10-K filed with the Securities and Exchange Commission (the “SEC”) on March 27, 2024. Please also refer to the Company’s other filings with the SEC, all of which are available at www.sec.gov. In addition, any forward-looking statements represent the Company’s views only as of today and should not be relied upon as representing its views as of any subsequent date. The Company explicitly disclaims any obligation to update any forward-looking statements.

Investor Relations
Gary Guyton
Vice President, Investor Relations
+1 (833) 661-7900
gary.guyton@atlas-lithium.com
https://www.atlas-lithium.com/
@Atlas_Lithium

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Atlas Lithium Progresses Towards Key Permitting

Atlas Lithium Corporation (NASDAQ: ATLX) (“Atlas Lithium” or “Company”), a leading lithium exploration and development company, is pleased to announce that the technical management group of the state of Minas Gerais Environmental Foundation, the governmental agency regulating operational licensing within the state of Minas Gerais (the “Agency”), issued a 161-page technical report which recommends approval of Atlas Lithium’s permit application for its Neves Project. This is a critical step for the Company’s ability to receive the permit to assemble and operate its lithium processing plant and to process the mined ore at the facility.

Atlas Lithium filed its operational permit application on September 1, 2023. Since then, the Company’s Neves Project has been inspected by the Agency’s technical team, an essential step in the permitting process. During the last twelve months, Atlas Lithium received multiple sets of technical questions from the Agency’s staff which the Company addressed timely, leading up to the issuance of the Agency’s comprehensive report with the favorable recommendation for the approval of the Company’s permit application.

Marc Fogassa, CEO of the Company, commented, “This milestone announcement is one of the most significant developments in Atlas Lithium’s history. We extend our gratitude to the numerous experts from the environmental agency of the state of Minas Gerais who thoroughly analyzed our project and concluded with their recommendation for approval of our permit. We are continuing our steady progress towards becoming a producer.”

In other news, preparations continue as planned for the shipment of the Company’s lithium processing plant to Brazil. The plant’s components, manufactured in South Africa, will be assembled in Brazil to process ore from the Company’s Neves Project and produce lithium concentrate, a crucial commercial product in the global lithium supply chain and essential for EV battery production.

“The Atlas Lithium processing plant represents an advancement over traditional designs as it is compact and modular. We are making continued progress in finalizing all necessary pre-shipment steps”, said James Schloffer, a lithium processing expert and member of the Company’s Operations Committee.

The Company’s compact, modular plant design is expected to streamline transportation, installation, and commissioning. Compared to other processing facilities in the lithium industry today, this dense media separation plant will have reduced height, weight, and overall physical footprint. These features will contribute to an environmentally sustainable design that minimizes water usage by maximizing water recycling. Furthermore, Atlas Lithium’s project will employ dry stacking of tailings without the use of dams.

About Atlas Lithium Corporation

Atlas Lithium Corporation (NASDAQ: ATLX) is focused on advancing and developing its 100%-owned hard-rock lithium project in the state of Minas Gerais. In addition, Atlas Lithium has 100% ownership of mineral rights for other battery and critical metals including nickel, rare earths, titanium, graphite, and copper. The Company also owns equity stakes in Apollo Resources Corp. (private company; iron) and Jupiter Gold Corp. (OTCQB: JUPGF) (gold and quartzite).

Safe Harbor Statement

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements are based upon the current plans, estimates and projections of Atlas Lithium and its subsidiaries and are subject to inherent risks and uncertainties which could cause actual results to differ from the forward-looking statements. Such statements include, among others, those concerning market and industry segment growth and demand and acceptance of new and existing products; any projections of production, reserves, sales, earnings, revenue, margins or other financial items; any statements of the plans, strategies and objectives of management for future operations; any statements regarding future economic conditions or performance; uncertainties related to conducting business in Brazil, as well as all assumptions, expectations, predictions, intentions or beliefs about future events. Therefore, you should not place undue reliance on these forward-looking statements. The following factors, among others, could cause actual results to differ from those set forth in the forward-looking statements: results from ongoing geotechnical analysis of projects; business conditions in Brazil; general economic conditions, geopolitical events, and regulatory changes; availability of capital; Atlas Lithium’s ability to maintain its competitive position; manipulative attempts by short sellers to drive down our stock price; and dependence on key management.

Additional risks related to the Company and its subsidiaries are more fully discussed in the section entitled “Risk Factors” in the Company’s Form 10-K filed with the Securities and Exchange Commission (the “SEC”) on March 27, 2024. Please also refer to the Company’s other filings with the SEC, all of which are available at www.sec.gov. In addition, any forward-looking statements represent the Company’s views only as of today and should not be relied upon as representing its views as of any subsequent date. The Company explicitly disclaims any obligation to update any forward-looking statements.

Investor Relations

Gary Guyton
Vice President, Investor Relations
+1 (833) 661-7900
gary.guyton@atlas-lithium.com
https://www.atlas-lithium.com/
@Atlas_Lithium

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Atlas Lithium Secures US$ 30,000,000 Strategic Investment and Offtake Agreement from Mitsui

Atlas Lithium Corporation (NASDAQ: ATLX), a lithium exploration and development company, is pleased to announce that it has signed definitive investment and offtake agreements with Mitsui & Co., Ltd. (“Mitsui”) which the Company considers as strong validation of its project and team. Mitsui is purchasing US$ 30,000,000 in common shares of Atlas Lithium at a 10% premium to the 5-day VWAP (the “Strategic Investment”) and at the same time entering into an Offtake Agreement (the “Offtake”) for the future purchase of 15,000 tons of lithium concentrate from Phase 1 and 60,000 tons per year for five years from Phase 2 of Atlas Lithium’s soon to be producing Neves Project in Brazil’s Lithium Valley. The Strategic Investment provides Atlas Lithium with immediately available funds to continue its rapid development towards revenue generation with the production and sale of high-quality, low cost, environmentally sustainable lithium concentrate.

Mitsui and Atlas Lithium entered a Memorandum of Understanding as announced in January 2023 and the two companies have since developed a close rapport which has included multiple due diligence visits by Mitsui executives and technical experts to the Company’s project, and visits by Atlas Lithium’s management to several of Mitsui’s offices in Brazil, the United States, Canada, and Japan. The Strategic Investment is a culmination of the mutual interest in growing Atlas Lithium. It delivers additional financing to allow Atlas Lithium to continue to aggressively advance its development towards operation of an open pit lithium mine and spodumene concentrating facility by the fourth quarter of 2024. Mitsui has a strong presence in Brazil dating from 1960 and a long history of profitable mining investments in the country.

“Today marks a significant milestone for Atlas Lithium as we progress towards our goal of becoming a key lithium supplier to the global EV battery materials supply chain. Mitsui’s investment reflects confidence in our team, assets, and business model,” stated Marc Fogassa, CEO and Chairman of Atlas Lithium. “I am honored and humbled to be here in Tokyo signing this historical agreement for Atlas Lithium that will undoubtedly result in great value creation for our shareholders. I have watched the relationship of our companies grow and I believe that this partnership with Mitsui strengthens Atlas Lithium substantially.”

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Figure 1: Signing Ceremony with Marc Fogassa, Atlas Lithium CEO and Chairman, and Akinobu Hashimoto, General Manager, Mitsui’s New Metals & Aluminum Division.

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Figure 2: Atlas Lithium Management Joined by Mitsui Senior Executives, Including Tetsuya Fukuda, Chief Operating Officer, Mineral & Metal Resources Business Unit, and Masaya Inamuro, General Manager, Corporate Planning & Strategy Division.

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Closing of the investment is expected within ten days, subject to customary approvals. Additional details are provided on a Form 8-K form filed with the Securities and Exchange Commission today. Atlas Lithium’s advisor is Goldman Sachs & Co. and its legal counsel is DLA Piper U.S.

About Atlas Lithium Corporation

Atlas Lithium Corporation (NASDAQ: ATLX) is focused on advancing and developing its 100%-owned hard-rock lithium project in Brazil’s Lithium Valley, a well-known lithium district in the state of Minas Gerais. In addition, Atlas Lithium has 100% ownership of mineral rights for other battery and critical metals including nickel, rare earths, titanium, graphite, and copper. The Company also owns equity stakes in Apollo Resources Corp. (private company; iron) and Jupiter Gold Corp. (OTCQB: JUPGF) (gold and quartzite).

About Mitsui

Mitsui & Co. is a global trading and investment company with a presence in more than 60 countries and a diverse business portfolio covering a wide range of industries. The company identifies, develops, and grows its businesses in partnership with a global network of trusted partners including world leading companies, combining its geographic and cross-industry strengths to create long-term sustainable value for its stakeholders. Mitsui has set three key strategic initiatives for its current Medium-term Management Plan: supporting industries to grow and evolve with stable supplies of resources and materials, and providing infrastructure; promoting a global transition to low-carbon and renewable energy; and empowering people to lead healthy lives through the delivery of quality healthcare and access to good nutrition. Visit www.mitsui.com for more information.

Safe Harbor Statement

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward looking statements are based upon the current plans, estimates and projections of Atlas Lithium and its subsidiaries and are subject to inherent risks and uncertainties which could cause actual results to differ from the forward- looking statements. Such statements include, among others, those concerning market and industry segment growth and demand and acceptance of new and existing products; any projections of production, reserves, sales, earnings, revenue, margins or other financial items; any statements of the plans, strategies and objectives of management for future operations; any statements regarding future economic conditions or performance; uncertainties related to conducting business in Brazil, as well as all assumptions, expectations, predictions, intentions or beliefs about future events. Therefore, you should not place undue reliance on these forward-looking statements. The following factors, among others, could cause actual results to differ from those set forth in the forward-looking statements: results from ongoing geotechnical analysis of projects; business conditions in Brazil; general economic conditions, geopolitical events, and regulatory changes; availability of capital; Atlas Lithium’s ability to maintain its competitive position; manipulative attempts by short sellers to drive down our stock price; and dependence on key management.

Additional risks related to the Company and its subsidiaries are more fully discussed in the section entitled “Risk Factors” in the Company’s Form 10-K filed with the Securities and Exchange Commission (the “SEC”) on March 27, 2024. Please also refer to the Company’s other filings with the SEC, all of which are available at www.sec.gov. In addition, any forward-looking statements represent the Company’s views only as of today and should not be relied upon as representing its views as of any subsequent date. The Company explicitly disclaims any obligation to update any forward-looking statements.

Investor Relations:
Brian Bernier
Vice President, Investor Relations
+1 (833) 661-7900
bwb@atlas-lithium.com
https://www.atlas-lithium.com/
@Atlas_Lithium

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To view the source version of this press release, please visit https://www.newsfilecorp.com/release/203432

Renowned Lithium Executive Brian Talbot to Join Atlas Lithium as Chief Operating Officer and Director

Atlas Lithium Corporation (NASDAQ: ATLX) (“Atlas Lithium” or “Company”), a leading lithium exploration and development company, is pleased to announce the upcoming addition of Brian Talbot as Chief Operating Officer and a member of the Company’s Board of Directors effective April 1, 2024. Mr. Talbot is a renowned lithium sector executive with extensive development and operational expertise. This strengthening of the executive team comes on the heels of the Company’s early revenue strategy, with anticipated first revenues and production commencing in Q4 2024.

Mr. Talbot is considered one of the leading authorities in lithium globally and has an extensive track record as a technical and operational leader throughout his career with over 30 years of experience in mining operations. In particular, he has extensive experience in DMS (dense media separation) plant development and operation, having worked at major lithium companies where he built a strong track record of operational performance.

Most recently, Mr. Talbot was founder and director of RTEK International DMCC, a consulting firm that advises lithium developers and producers. From July 2022 to September 2023, Mr. Talbot was the Chief Operating Officer at Sigma Lithium Corporation (“Sigma Lithium”), a Canadian lithium producer with operations in Brazil. At Sigma Lithium, he oversaw the development of that company’s flagship Grota do Cirilo project from construction through commissioning and operations.

From 2017 to 2022, Mr. Talbot held positions as General Manager and Head of Australian Operations at Galaxy Resources, through mergers now part of Arcadium Lithium PLC, one of the world’s largest fully integrated lithium companies with a current market capitalization of approximately $4.7 billion. While at Galaxy Resources, Mr. Talbot was instrumental in increasing the production at Mt. Cattlin (a hard-rock lithium mine in Ravensthorpe, Western Australia) by 100%, which resulted in record production. Previously, from 2015 to 2017, Mr. Talbot was at Bikita Minerals in Zimbabwe, which owns and operates the longest running hard-rock lithium mine in the world.

With extensive experience designing, planning, building, and managing profitable mining operations globally, Mr. Talbot has a proven track record of driving operational excellence. His leadership has consistently improved efficiency, identified commercial opportunities, extended mine life, and maximized safety across diverse projects and regions. He holds a bachelor’s degree in chemical engineering with Honors from the University of Witwatersrand, South Africa.

Martin Rowley, former Chairman of Galaxy Resources and later Allkem Limited, and now Lead Advisor to Atlas Lithium, commented, “I was able to persuade Brian to leave Bikita’s lithium operations in Zimbabwe and move to Australia to be responsible for the restart of operations at Galaxy Resources’ Mt. Cattlin. During the time we worked together at Galaxy, his work ethic, dedication, conscientious team building ability, and creativity underwrote the significant value increase to all Galaxy shareholders. I look forward to working with him again on realizing the undoubted potential of Atlas Lithium.”

“When speaking with global lithium investors, Brian Talbot is a name that is clearly revered as a ticket for success. The fact that Atlas Lithium can attract such exceptional talent speaks volumes about our culture and the potential of our project. We wholeheartedly welcome Brian to our Board of Directors and to lead our development and exploration technical teams,” said Marc Fogassa, the Company’s Chairman and Chief Executive Officer.

Brian Talbot added, “After visiting and studying in detail Atlas Lithium’s properties, I firmly believe there is a strong alignment between my expertise in expediting hard-rock lithium projects to production and the solid foundation that the Company has already built. This opportunity allows me to further advance Atlas Lithium’s strategic direction as a member of its Board of Directors, while also fostering my own professional growth as a leader in the lithium space.”

About Atlas Lithium Corporation

Atlas Lithium Corporation (NASDAQ: ATLX) is focused on advancing and developing its 100%-owned hard-rock lithium project in Brazil’s Lithium Valley, a well-known lithium district in the state of Minas Gerais. In addition, Atlas Lithium has 100% ownership of mineral rights for other battery and critical metals including nickel, rare earths, titanium, and graphite. The Company also owns equity stakes in Apollo Resources Corp. (private company; iron) and Jupiter Gold Corp. (OTCQB: JUPGF) (gold and quartzite).

Safe Harbor Statement

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward looking statements are based upon the current plans, estimates and projections of Atlas Lithium and its subsidiaries and are subject to inherent risks and uncertainties which could cause actual results to differ from the forward- looking statements. Such statements include, among others, those concerning market and industry segment growth and demand and acceptance of new and existing products; any projections of production, reserves, sales, earnings, revenue, margins or other financial items; any statements of the plans, strategies and objectives of management for future operations; any statements regarding future economic conditions or performance; uncertainties related to conducting business in Brazil, as well as all assumptions, expectations, predictions, intentions or beliefs about future events. Therefore, you should not place undue reliance on these forward-looking statements. The following factors, among others, could cause actual results to differ from those set forth in the forward-looking statements: results from ongoing geotechnical analysis of projects; business conditions in Brazil; general economic conditions, geopolitical events, and regulatory changes; availability of capital; Atlas Lithium’s ability to maintain its competitive position; manipulative attempts by short sellers to drive down our stock price; and dependence on key management.

Additional risks related to the Company and its subsidiaries are more fully discussed in the section entitled “Risk Factors” in the Company’s Annual Report and in Form 10-Q filed with the SEC on October 20, 2023. Please also refer to the Company’s other filings with the SEC, all of which are available at www.sec.gov. In addition, any forward-looking statements represent the Company’s views only as of today and should not be relied upon as representing its views as of any subsequent date. The Company explicitly disclaims any obligation to update any forward-looking statements.

Investor Relations:
Brian Bernier
Vice President, Investor Relations
+1 (833) 661-7900
bwb@atlas-lithium.com
https://www.atlas-lithium.com/
@Atlas_Lithium

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To view the source version of this press release, please visit https://www.newsfilecorp.com/release/202385

Atlas Lithium Fully Funded to First Production in 2024

  • Direct investment at a premium into Atlas Lithium and offtake agreements for Phase 1 of Atlas Lithium’s battery grade spodumene concentrate production have been executed with two top lithium chemical companies, Chengxin Lithium Group and Yahua Industrial Group, suppliers of lithium hydroxide to Tesla, BYD, and LG, among others. Goldman Sachs served as financial advisor to Atlas Lithium in these transactions.
  • Chengxin and Yahua have committed an aggregate of US$50 million to Atlas Lithium with US$10 million as equity at $29.77 per share (a 10% premium to recent VWAP) and US$40 million as non-dilutive prepayment in exchange for 80% of Atlas Lithium’s Phase 1 lithium concentrate production.
  • With these transactions, Atlas Lithium is fully funded for its estimated total CAPEX to first production of US$49.5 million.
  • The accelerated production timeline will be achieved by deploying modular DMS technology and contracting the initial crushing and mining operations with local third parties. The DMS plant for Phase 1 has already been designed and purchased; it is being constructed at an expert facility and will be air freighted into Brazil in 2024.
  • Phase 1 annualized production targets up to 150,000 tonnes per annum (“tpa”) of battery grade spodumene concentrate by Q4 2024, with the offtake agreements announced today comprising 120,000 tpa in total and with each party receiving 60,000 tpa. Atlas Lithium’s planned Phase 2 aims to increase capacity to 300,000 tpa by mid-2025. Phase 2 capacity remains uncommitted.
  • Atlas Lithium is well positioned to become one of the highest-quality, lowest-cost lithium producers in the world. DMS is an environmentally sustainable technology, and the Company’s project has strong support from the community where it operates.

Atlas Lithium Corporation (NASDAQ: ATLX) (“Atlas Lithium” or “Company”), a leading lithium exploration and development company, is pleased to announce full funding for its early revenue strategy designed to allow the Company to be in production in Q4 2024. Atlas Lithium has estimated the total Phase 1 capital expenditures (“CAPEX”) to be US$ 49.5 million for the implementation of mining and production of spodumene concentrate at its lithium project in Brazil’s Lithium Valley. This CAPEX is now funded by the US$ 50 million secured from lithium industry leaders Yahua and Chengxin as described in this press release.

Offtake Agreements
The high quality of Atlas Lithium’s spodumene, further validated by extensive metallurgical test work, along with the project’s amenability to open pit mining and simple dense media separation (“DMS”) processing, generated robust interest from global parties looking to invest and partner with the Company. After a process which included project site visits from multiple parties, Atlas Lithium chose to partner with Chengxin and Yahua, two of the world’s largest lithium hydroxide producers. Atlas Lithium’s battery grade spodumene concentrate is a product tailored to be used in chemical conversion plants that will process it to lithium hydroxide, the next step in the processing of lithium towards eventual use in batteries. With excellent technologies, strong relationships with top-tier customers such as BYD (the largest global EV maker), Tesla (the second largest), and LG, among others, and a commitment to high-quality, sustainable lithium production, Chengxin and Yahua share Atlas Lithium’s vision to power the accelerating global transition to green energy. Furthermore, Atlas Lithium’s business development team did not want to rely on placing the Company’s product on the spot market as the vagaries of such approach are much less economically attractive than securing purchasing agreements with Tier 1 customers such as Yahua and Chengxin.

Shenzhen Chengxin Lithium Group Co., Ltd (“Chengxin”) was established in 2001 and is headquartered in Chengdu, China. It is listed on the Shenzhen Stock Exchange with a market capitalization of approximately US$2.8 billion. Chengxin’s core business is production and sales of lithium battery materials. The main products are lithium concentrate, lithium carbonate, lithium hydroxide, lithium chloride, and lithium metal. At present, the Company has built a total production capacity of 72,000 tons of lithium chemicals in Deyang and Suining. Chengxin is currently building out new capacity of 60,000 tons of lithium chemical project in Indonesia which was expected to be completed by the first half of 2024. Chengxin’s main customers include BYD, CATL, LG Chemical and other industry leading enterprises.

Sichuan Yahua Industrial Group Co., Ltd (“Yahua”) was founded in 1952 and is headquartered in Chengdu, China. It is listed on the Shenzhen Stock Exchange with a market capitalization of approximately US$2.2 billion. Yahua is a diversified chemical company engaged in the production and sale of lithium chemical products among others. Yahua currently has an annual lithium chemical production capacity exceeding 70,000 tons, including industrial and battery grade lithium carbonate and lithium hydroxide. Yahua plans to expand its lithium salt production capacity to over 100,000 tons by 2025. Yahua’s main customers include CATL, Tesla and LG Energy Solutions.

Nick Rowley, Atlas Lithium’s VP of Business Development, said, “I had the opportunity to work with both Chengxin and Yahua during my time at Galaxy Resources (now Allkem). These two companies were among the top purchasers of product from Galaxy and integral to our success there as major offtake partners of the Mt Cattlin lithium mine in Western Australia. I am thrilled to have secured their support for Atlas Lithium which is now poised to become the next high-quality lithium concentrate producer in Brazil’s globally renowned Lithium Valley region.”

Marc Fogassa, the Company’s CEO and Chairman, added, “I am humbled by the robust interest multiple parties demonstrated in Atlas Lithium. Ultimately, we opted to partner with two exceptional firms that rapidly and proactively pursued this opportunity to fruition. The ability to become a lithium producer with minimal dilution to shareholders is a significant accomplishment. Securing strong customers with premier end-users is also pivotal to Atlas Lithium’s ambition to become a significant supplier of high-quality lithium. This announcement thus signals a watershed moment for Atlas Lithium’s pursuit of Tier 1 producer status.”

Details of the agreements described in the press release can be found on a Form 8-K which the Company has filed today with the Securities and Exchange Commission. The offtake agreements carry a 5-year term while allowing for early termination should Atlas Lithium undergo a change of control transaction. The Company considers that it received highly attractive pricing on the offtake agreements because of the quality of its spodumene and the credibility of its team. Pricing for the periodic sales of Atlas Lithium’s battery grade spodumene concentrate will be calculated by a formula based on the price of lithium hydroxide globally. The price of lithium hydroxide is defined by historical data for the import and export pricing in China, Japan and South Korea, as determined by major cathode makers.

Early-Revenue Strategy
With the well-delineated initial Anitta pegmatites and positive metallurgical test work results, Atlas Lithium’s technical team opted to expedite the production timeline for its 100%-owned Neves Project. The original target of 300,000 tpa of spodumene concentrate output remains on track for 2025 as Phase 2. However, the Company now targets to commence the initial production of up to 150,000 tpa of spodumene concentrate by Q4 2024. This accelerated production timeline will be enabled by deploying modular DMS technology and contracting initial crushing and mining operations. The total CAPEX until the initial production and revenues is estimated at US$ 49.5 million, which includes the modular DMS plant already purchased along with all civil construction and mining implementation work, and a contingency reserve.

To enable the accelerated production schedule, the Company will utilize modular DMS processing plants, a design and approach not yet utilized in lithium processing in Brazil, and which allows for expedited construction. Figures 1 and 2 show the overall design for Atlas Lithium’s modular plant, with a targeted nameplate capacity of up to 150,000 tpa of spodumene concentrate. The first two DMS modules for Phase 1 are currently under construction with an estimated delivery date to Brazil by April 2024.

Figure 1 – Atlas Lithium’s designed modular DMS plant with a targeted nameplate capacity of up to 150,000 tpa of spodumene concentrate.
Figure 2 – Rotated view of Atlas Lithium’s designed modular DMS plant design with a targeted nameplate capacity of up to 150,000 tpa of spodumene concentrate.

Mine development has also progressed significantly, with well-defined ore bodies that have enabled the Company to develop a comprehensive mining schedule. The geological modelling team has completed a detailed block model of the initial pit area, which has facilitated the design of an optimal open-pit outline by outside consultants. The initial mining plan is focused on the Anitta 2 and 3 pegmatites with Figure 3 illustrating the cross-section with an overlying pit shell for Anitta 2, the location of the starting open-pit mine. The processing plant and Anitta 2 open-pit layout can be seen in Figure 4.

Figure 3 – Cross-section with an overlying pit shell for Anitta 2, the location of the first open-pit mine.
Figure 4 – Neves Project processing plant and Anitta 2 open-pit layout

In parallel with its accelerated effort to commence production in 2024, the Company continues an aggressive exploration drilling campaign, with most rigs operating around the clock. The exploration campaign has recently revealed several promising new pegmatites, with numerous targets still untested (Figure 5). Under the technical leadership of James Abson, Atlas Lithium’s recently hired Chief Geology Officer, the Company is targeting the release of a Maiden Resource Estimate in Q1 2024, conjointly with its first Preliminary Economic Assessment. In the interim, certain technical areas are being advanced to allow issuing a Definitive Feasibility Study in Q2 2024, to be designed around the Phase 2 production target of 300,000 tpa of battery grade spodumene concentrate.

Figure 5 – Six new and promising target areas (designated as Target Areas 1 through 6) within the Neves Project, complementing the four confirmed pegmatite bodies with spodumene mineralization (designated as Anitta 1 through 4).

Overall, the Company’s core strategy remains committed to strong ESG principles. Atlas Lithium is focused on sustainably producing premium spodumene concentrate, including plans to maximize water recycling, employ 100% dry stacked tailings without dams, avoid hazardous chemicals in flotation during the lithium concentration process, and planning to utilize renewable energy sources for power. Additionally, the Company continues building public and private partnerships to spur development in the Jequitinhonha Valley region and takes pride in serving as a sustainable job creator benefiting local communities.

About Atlas Lithium Corporation  
Atlas Lithium Corporation (NASDAQ: ATLX) is focused on advancing and developing its 100%-owned hard-rock lithium project in Brazil’s Lithium Valley, a well-known lithium district in the state of Minas Gerais. In addition, Atlas Lithium has 100% ownership of mineral rights for other battery and critical metals including nickel, rare earths, titanium, and graphite. The Company also owns equity stakes in Apollo Resources Corp. (private company; iron) and Jupiter Gold Corp. (OTCQB: JUPGF) (gold and quartzite).

Safe Harbor Statement
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward looking statements are based upon the current plans, estimates and projections of Atlas Lithium and its subsidiaries and are subject to inherent risks and uncertainties which could cause actual results to differ from the forward- looking statements. Such statements include, among others, those concerning market and industry segment growth and demand and acceptance of new and existing products; any projections of production, reserves, sales, earnings, revenue, margins or other financial items; any statements of the plans, strategies and objectives of management for future operations; any statements regarding future economic conditions or performance; uncertainties related to conducting business in Brazil, as well as all assumptions, expectations, predictions, intentions or beliefs about future events. Therefore, you should not place undue reliance on these forward-looking statements. The following factors, among others, could cause actual results to differ from those set forth in the forward-looking statements: results from ongoing geotechnical analysis of projects; business conditions in Brazil; general economic conditions, geopolitical events, and regulatory changes; availability of capital; Atlas Lithium’s ability to maintain its competitive position; manipulative attempts by short sellers to drive down our stock price; and dependence on key management.

Additional risks related to the Company and its subsidiaries are more fully discussed in the section entitled “Risk Factors” in the Company’s Annual Report and in Form 10-Q filed with the SEC on October 20, 2023. Please also refer to the Company’s other filings with the SEC, all of which are available at www.sec.gov. In addition, any forward-looking statements represent the Company’s views only as of today and should not be relied upon as representing its views as of any subsequent date. The Company explicitly disclaims any obligation to update any forward-looking statements.

Investor Relations:
Michael Kim or Brooks Hamilton
MZ Group – MZ North America
+1 (949) 546-6326           
ATLX@mzgroup.us
https://www.atlas-lithium.com/
@Atlas_Lithium

Atlas Lithium Secures US$ 20,000,000 Investment from Lithium Investors Including Lead Advisor Martin Rowley

Atlas Lithium Corporation (NASDAQ: ATLX) (“Atlas Lithium” or “Company”), a leading lithium exploration and development company, is pleased to announce the signing of an agreement for a key strategic raise of $20,000,000 from lithium focused investors led by Martin Rowley, former Chairman of lithium powerhouse Allkem Ltd. and a Lead Advisor to Atlas Lithium. In 1996, Mr. Rowley co-founded First Quantum Minerals Ltd., one of the largest copper companies in the world. In 2009, he recognized the potential of lithium and became Chairman of Lithium One Inc., and later Chairman of Galaxy Resources Ltd. after it merged with Lithium One. Mr. Rowley led significant growth in Galaxy, ultimately resulting in the merger with Orocobre Ltd. in 2021 which created global lithium producer Allkem Ltd. He retired as Chairman of Allkem in November 2022.

Atlas Lithium was offered and has entered into an agreement that establishes a US$ 20,000,000 three-year unsecured convertible note led by Mr. Rowley along with other experienced lithium investors (the “Investment”). The Investment carries a coupon of 6.5% per annum, is convertible to common stock at a price of $28.225 per share (a 25% premium to the volume-weighted average price for the three trading days prior to the signing of the Investment agreement), and can be repaid by the Company after one year under certain circumstances. Details on the Investment can be found on the Form 8-K which the Company has filed with the Securities and Exchange Commission.

Marc Fogassa, Chairman and CEO of the Company, noted, “In the current environment where U.S. Treasuries yield close to 5%, the fact that Atlas Lithium was able to raise new capital at 6.5% is a strong outcome and an indication of investor interest. In addition, the conversion price is at a substantial 25% upside to the current stock price. However, the biggest benefit is to have the expertise of astute lithium investors, including Mr. Martin Rowley, aligned with our strategy.”

Martin Rowley commented, “Atlas Lithium has an excellent asset base and a dedicated and hard-working team complemented by a strong collaborative culture. With a highly supportive local community where it operates, this additional funding allows the Company to rapidly advance the development of its Neves Project in Brazil’s Lithium Valley. I am thrilled to deepen my involvement with Atlas Lithium and contribute my own resources to catalyze the company’s growth, helping to unlock the undoubted potential of its lithium assets.”

About Atlas Lithium Corporation

Atlas Lithium Corporation (NASDAQ: ATLX) is focused on advancing and developing its 100%-owned hard-rock lithium project in Brazil’s Lithium Valley, a well-known lithium district in the state of Minas Gerais. In addition, Atlas Lithium has 100% ownership of mineral rights for other battery and critical metals including nickel, rare earths, titanium, and graphite. The Company also owns equity stakes in Apollo Resources Corp. (private company; iron) and Jupiter Gold Corp. (OTCQB: JUPGF) (gold and quartzite).

Safe Harbor Statement

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward looking statements are based upon the current plans, estimates and projections of Atlas Lithium and its subsidiaries and are subject to inherent risks and uncertainties which could cause actual results to differ from the forward- looking statements. Such statements include, among others, those concerning market and industry segment growth and demand and acceptance of new and existing products; any projections of production, reserves, sales, earnings, revenue, margins or other financial items; any statements of the plans, strategies and objectives of management for future operations; any statements regarding future economic conditions or performance; uncertainties related to conducting business in Brazil, as well as all assumptions, expectations, predictions, intentions or beliefs about future events. Therefore, you should not place undue reliance on these forward-looking statements. The following factors, among others, could cause actual results to differ from those set forth in the forward-looking statements: results from ongoing geotechnical analysis of projects; business conditions in Brazil; general economic conditions, geopolitical events, and regulatory changes; availability of capital; Atlas Lithium’s ability to maintain its competitive position; manipulative attempts by short sellers to drive down our stock price; and dependence on key management.

Additional risks related to the Company and its subsidiaries are more fully discussed in the section entitled “Risk Factors” in the Company’s Annual Report and in Form 10-Q filed with the SEC on October 20, 2023. Please also refer to the Company’s other filings with the SEC, all of which are available at www.sec.gov. In addition, any forward-looking statements represent the Company’s views only as of today and should not be relied upon as representing its views as of any subsequent date. The Company explicitly disclaims any obligation to update any forward-looking statements.

Investor Relations:

Michael Kim or Brooks Hamilton
MZ Group – MZ North America
+1 (949) 546-6326
ATLX@mzgroup.us
https://www.atlas-lithium.com/
@Atlas_Lithium

Corporate Logo

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/186610

Former Allkem Chairman Martin Rowley Joins Atlas Lithium as Lead Strategic Advisor

Atlas Lithium Corporation (NASDAQ: ATLX) (“Atlas Lithium” or “Company”) is pleased to announce the appointment of Mr. Martin Rowley as the Company’s Lead Strategic Advisor. Mr. Rowley is a pioneer of the modern lithium industry and has over 40 years of experience as a founder, financier, and highly successful mining entrepreneur. In fact, Mr. Rowley has earned the rare distinction of starting and growing two prominent multi-billion-dollar companies, one in lithium and the other in copper.

In 1996, Mr. Rowley co-founded copper producer First Quantum Minerals Ltd., currently valued at over CAD 22 billion. In 2009, he recognized the potential of lithium and became Chairman of Lithium One Inc, which at that stage had secured interests in the Sal de Vida and James Bay lithium assets in Argentina and Canada. Mr. Rowley then became Chairman of Galaxy Resources Ltd after it merged with Lithium One, adding the Mt. Cattlin spodumene mine in Australia to its asset portfolio. He led significant growth in Galaxy, ultimately resulting in the merger with Orocobre Ltd in 2021 which created Allkem Ltd. Since the time of his appointment as Chair of Lithium One, its market capitalization grew from AUD 20 million to a recent peak of over AUD 10 billion for Allkem. Mr. Rowley retired as Chairman of Allkem in November 2022.

Martin Rowley commented, “Atlas Lithium appealed to me as a company focused on strong execution rather than marketing hype. Under Marc’s leadership, the company has put together a first-class team and a high-potential asset portfolio. I look forward to contributing my experience and insights to assist growing Atlas Lithium into a leading resource company.”

Marc Fogassa, the Company’s Chairman and CEO, commented, “Our immediate focus is to become a lithium producer. We believe that Mr. Rowley’s strategic advice will help drive significant value creation for our shareholders as we accelerate the execution of such plan. His willingness to lend his expertise and experience is a testament to his belief in our vision.”

About Atlas Lithium Corporation
Atlas Lithium Corporation (NASDAQ: ATLX) is focused on advancing and developing its 100%-owned hard-rock lithium project in Brazil’s Lithium Valley, a well-known lithium district in the state of Minas Gerais. In addition, Atlas Lithium has 100% ownership of mineral rights for other battery and critical metals including nickel, rare earths, titanium, and graphite. The Company also owns equity stakes in Apollo Resources Corp. (private company; iron) and Jupiter Gold Corp. (OTCQB: JUPGF) (gold and quartzite).

Safe Harbor Statement
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward looking statements are based upon the current plans, estimates and projections of Atlas Lithium Corporation and its subsidiaries (collectively, “Atlas Lithium” or “Company”) and are subject to inherent risks and uncertainties which could cause actual results to differ from the forward- looking statements. Such statements include, among others, those concerning market and industry segment growth and demand and acceptance of new and existing products; any projections of production, reserves, sales, earnings, revenue, margins or other financial items; any statements of the plans, strategies and objectives of management for future operations; any statements regarding future economic conditions or performance; uncertainties related to conducting business in Brazil, as well as all assumptions, expectations, predictions, intentions or beliefs about future events. Therefore, you should not place undue reliance on these forward-looking statements. The following factors, among others, could cause actual results to differ from those set forth in the forward-looking statements: results from ongoing geotechnical analysis of projects; business conditions in Brazil; general economic conditions, geopolitical events, and regulatory changes; availability of capital; Atlas Lithium’s ability to maintain its competitive position; manipulative attempts by short sellers to drive down our stock price; and dependence on key management.

Additional risks related to the Company and its subsidiaries are more fully discussed in the section entitled “Risk Factors” in the Company’s Annual Report on Form 10-Q filed with the SEC on August 14, 2023. Please also refer to the Company’s other filings with the SEC, all of which are available at www.sec.gov. In addition, any forward-looking statements represent the Company’s views only as of today and should not be relied upon as representing its views as of any subsequent date. The Company explicitly disclaims any obligation to update any forward-looking statements.

Investor Relations:
Michael Kim or Brooks Hamilton
MZ Group – MZ North America
+1 (949) 546-6326
ATLX@mzgroup.us
https://www.atlas-lithium.com/
@Atlas_Lithium

Corporate Logo

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/181906

Atlas Lithium Appoints Industry Veteran Nicholas Rowley as Vice President of Business Development

Atlas Lithium Corporation (NASDAQ: ATLX) (“Atlas Lithium” or “Company”) is pleased to announce the appointment of Mr. Nicholas Rowley as its Vice President of Business Development effective immediately. Mr. Rowley brings over a decade of experience with many strong relationships built over time throughout the global lithium space. Atlas Lithium plans to develop an environmentally friendly and efficient facility to produce lithium concentrate in Brazil’s Lithium Valley. The Company owns a large portfolio of mineral rights for hard-rock lithium in the state of Minas Gerais where Lithium Valley is located.

Mr. Rowley joins the Atlas management team following a lengthy and highly successful career at Galaxy Resources Limited, a lithium-focused company with assets spanning Australia, Canada, and Argentina where he held several key roles, most notably Director of Corporate Development. In this position, he contributed significantly to the growth and enhancement of the Galaxy portfolio of assets through partnerships and divestitures and later to the implementation of its AUD 6 billion merger with Orocobre Limited in 2021, creating Allkem Limited, one of the world’s largest lithium producers.

Mr. Rowley is also the founder and Chief Executive Officer of Electramin, a global battery metal trading company. In addition, he is the founder and executive director at RTEK International, which has offered mining engineering, planning and business development services to hard-rock lithium explorers and producers worldwide. Mr. Rowley holds a Bachelor’s degree in Finance and Management from the University of Notre Dame, Australia.

“I am delighted to welcome Mr. Rowley to our management team,” said Marc Fogassa, Chairman and Chief Executive Officer of Atlas Lithium. “It is a testament to the strength of Brazil’s Lithium Valley as a mining jurisdiction that we can attract such talent. Atlas Lithium has been approached by multiple companies within the global lithium space seeking to learn more about our exciting project and Nick will rapidly advance those conversations. Additionally, given his experience with lithium projects that transitioned from explorer to producer, I believe that Nick will add tremendous value in our continued progress towards the production stage.”

About Atlas Lithium Corporation

Atlas Lithium Corporation (NASDAQ: ATLX) is focused on advancing and developing its 100%-owned hard-rock lithium project in Brazil’s Lithium Valley, a well-known lithium district in the state of Minas Gerais. In addition, Atlas Lithium has 100% ownership of mineral rights for other battery and critical metals including nickel, rare earths, titanium, and graphite. The Company also owns equity stakes in Apollo Resources Corp. (private company; iron) and Jupiter Gold Corp. (OTCQB: JUPGF) (gold and quartzite).

Safe Harbor Statement

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward looking statements are based upon the current plans, estimates and projections of Atlas Lithium Corporation and its subsidiaries (collectively, “Atlas Lithium” or “Company”) and are subject to inherent risks and uncertainties which could cause actual results to differ from the forward- looking statements. Such statements include, among others, those concerning market and industry segment growth and demand and acceptance of new and existing products; any projections of production, reserves, sales, earnings, revenue, margins or other financial items; any statements of the plans, strategies and objectives of management for future operations; any statements regarding future economic conditions or performance; uncertainties related to conducting business in Brazil, as well as all assumptions, expectations, predictions, intentions or beliefs about future events. Therefore, you should not place undue reliance on these forward-looking statements. The following factors, among others, could cause actual results to differ from those set forth in the forward-looking statements: results from ongoing geotechnical analysis of projects; business conditions in Brazil; general economic conditions, geopolitical events, and regulatory changes; availability of capital; Atlas Lithium’s ability to maintain its competitive position; manipulative attempts by short sellers to drive down our stock price; and dependence on key management.

Additional risks related to the Company and its subsidiaries are more fully discussed in the section entitled “Risk Factors” in the Company’s Annual Report on Form 10-Q filed with the SEC on August 14, 2023. Please also refer to the Company’s other filings with the SEC, all of which are available at www.sec.gov. In addition, any forward-looking statements represent the Company’s views only as of today and should not be relied upon as representing its views as of any subsequent date. The Company explicitly disclaims any obligation to update any forward-looking statements.

Investor Relations:
Michael Kim or Brooks Hamilton
MZ Group – MZ North America
+1 (949) 546-6326
ATLX@mzgroup.us
https://www.atlas-lithium.com/
@Atlas_Lithium


Atlas Lithium Expands Anitta Pegmatite Trend to 2.3 Kilometers; Confirms Near-Surface Mineralization with Trenching

Atlas Lithium Corporation (NASDAQ: ATLX) (“Atlas Lithium” or “Company”), a leading mineral exploration company, is pleased to announce the southwest expansion of the Company’s flagship Anitta pegmatite trend from 1.8 to 2.3 kilometers in length. Anitta is located within the Neves Project, a cluster of four lithium mineral rights that are part of Atlas Lithium’s 100%-owned Minas Gerais Lithium Project in Brazil’s Lithium Valley, an established hard-rock lithium producing jurisdiction.

The increase in size was a result of identification of new targets to the southwest which were subsequently drilled and found to contain spodumene, a lithium-bearing mineral. This has allowed the expansion of Anitta to an area now measuring approximately 2.3 kilometers in length by 500 meters in width. Because of such increase, and as multiple additional targets are available for future drilling, the decision was made to rename various segments in an ascending fashion for ease of logistics: “North Anitta” is now “Anitta 1”, “South Anitta” is now “Anitta 2”, and “Anitta 2” is now “Anitta 3,” as illustrated in Figure 1. Overall, Anitta remains open to further extension laterally, along strike to the southwest, and at depth.

The Company’s drilling campaign to date has yielded high grades of lithium mineralization close the surface in both Anitta 2 and Anitta 3. In Anitta 2, drill hole DHAB-85 showed mineralized spodumene starting at only 3 meters depth. More recently, in Anitta 2, two trenches have shown at least 40 meters of lithium-containing pegmatite at near surface as Figure 2 and Figure 3 indicate.

In Anitta 3, drill hole DHAB-185 intersected 5.23% Li2O at only 9 meters depth, and drill hole DHAB-200 yielded a cumulative total of 46.7 meters of mineralized spodumene starting at only 54 meters depth, including 18.3 meters at an average grade of 1.51% Li2O.

Strong lithium mineralization at near-surface depths in both Anitta 2 and Anitta 3 is an important differentiator for the Company’s assets. Such locations may become, over time, sites for open pit mining, a modality which allows for faster and less costly operational development.

Marc Fogassa, Atlas Lithium’s CEO and Chairman, commented, “We are highly encouraged by the expansion of our Anitta pegmatite trend. Additionally, since our goal is to become a cost-effective lithium producer, we are thrilled by the ongoing discoveries of high-grade lithium mineralization at near-surface levels which makes these areas strong candidates for open pit mining.”

Figure 1: Atlas Lithium’s Anitta pegmatite trend with some drilling highlights
https://images.newsfilecorp.com/files/6706/175378_33fbe687f41e3b20_002full.jpg

Figure 2: Trench in Anitta 2 showing lithium-bearing pegmatite at near-surface level
https://images.newsfilecorp.com/files/6706/175378_33fbe687f41e3b20_003full.jpg

Figure 3: Detail of trench in Anitta 2 showing lithium-bearing pegmatite at near-surface level
https://images.newsfilecorp.com/files/6706/175378_33fbe687f41e3b20_004full.jpg

About Atlas Lithium Corporation

Atlas Lithium Corporation (NASDAQ: ATLX) is focused on advancing and developing its 100%-owned hard-rock lithium project in Brazil’s Lithium Valley, a well-known lithium district in the state of Minas Gerais. The Company’s exploration mineral rights for lithium cover approximately 308 km2 and are located primarily in Brazil’s Lithium Valley. In addition, Atlas Lithium has 100% ownership of mineral rights for other battery and critical metals including nickel (222 km2), rare earths (122 km2), titanium (89 km2), and graphite (56 km2). The Company also owns approximately 45% of Apollo Resources Corp. (private company; iron) and approximately 28% of Jupiter Gold Corp. (OTCQB: JUPGF) (gold and quartzite).

Safe Harbor Statement

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements are based upon the current plans, estimates and projections of Atlas Lithium Corporation and its subsidiaries (collectively, “Atlas Lithium” or “Company”) and are subject to inherent risks and uncertainties which could cause actual results to differ from the forward- looking statements. Such statements include, among others, those concerning market and industry segment growth and demand and acceptance of new and existing products; any projections of production, reserves, sales, earnings, revenue, margins or other financial items; any statements of the plans, strategies and objectives of management for future operations; any statements regarding future economic conditions or performance; uncertainties related to conducting business in Brazil, as well as all assumptions, expectations, predictions, intentions or beliefs about future events. Therefore, you should not place undue reliance on these forward-looking statements. The following factors, among others, could cause actual results to differ from those set forth in the forward-looking statements: results from ongoing geotechnical analysis of projects; business conditions in Brazil; general economic conditions, geopolitical events and regulatory changes; availability of capital; Atlas Lithium’s ability to maintain its competitive position; manipulative attempts by short sellers to drive down our stock price; and dependence on key management.

Additional risks related to the Company and its subsidiaries are more fully discussed in the section entitled “Risk Factors” in the Company’s Annual Report on Form 10-Q filed with the SEC on May 15, 2023. Please also refer to the Company’s other filings with the SEC, all of which are available at www.sec.gov. In addition, any forward-looking statements represent the Company’s views only as of today and should not be relied upon as representing its views as of any subsequent date. The Company explicitly disclaims any obligation to update any forward-looking statements.

Investor Relations:
Michael Kim or Brooks Hamilton
MZ Group – MZ North America
+1 (949) 546-6326
ATLX@mzgroup.us
https://www.atlas-lithium.com/
@Atlas_Lithium