Atlas Lithium Corporation (NASDAQ: ATLX) announced that it is on track for first commercial production of lithium oxide concentrate in the fourth quarter of 2027. The Company’s 100%-owned and fully permitted Neves Project will feature a vertically integrated mining and processing industrial complex designed to produce approximately 150,000 tonnes of high-quality lithium oxide concentrate per year, a key component of the global battery supply chain for electric vehicles and energy storage systems. Reflecting the strength of the Neves Project, Atlas Lithium has received written product interest from multiple companies totaling more than three times its planned production capacity.

At the Neves Project, Atlas Lithium is building a socially anchored, sustainable operation that adds value domestically. The Company anticipates that its fully integrated facility will generate more than 5,000 direct and indirect jobs in the Jequitinhonha Valley, a developing region of Minas Gerais State in Brazil. Atlas Lithium maintains strong community relations and is committed to prioritizing local hiring and training for its operations. The Company’s full-time employees in the Jequitinhonha Valley already earn, on average, twice the prevailing local wage and receive healthcare coverage and other benefits that exceed regional standards. This approach has strengthened the Company’s social license to operate and fostered long-term partnerships with local communities.

Highlights

• On Track for Q4 2027 First Production: Transitioning Atlas Lithium from developer to producer.
• Fully Permitted Through Commercial Production: A major risk of any project has been eliminated.
• Strong Market Interest: Written product interest cumulatively exceeds three times planned production capacity.
• Robust Projected Economics: DFS results show a 145% after-tax IRR and an 11-month payback period, with operating costs of $489 per tonne versus recent market prices of roughly $2,300 per tonne.
• Strong Employment and Social Contribution: Atlas Lithium’s Jequitinhonha Valley employees already earn twice the local wage and more than 5,000 additional direct and indirect jobs will be created.

Recent months have seen marked progress on-site, in partnership with leading Brazilian technical and engineering firms:

• Promon Engenharia – Detailed engineering
• TSX Engineering – Project management, cost control, planning, and risk management
• Cerne Construções – Engineering, procurement, and construction of facilities
• RETC Infraestrutura – Earthworks and civil construction
• Alfa Engenharia – Electromechanical assembly

All partner contracts were finalized at or below Definitive Feasibility Study (DFS) budget levels, underscoring Atlas Lithium’s disciplined cost management and project execution.

“We believe the Neves Project ranks among the most capital-efficient lithium developments worldwide, and it is clear that global lithium buyers have taken notice,” said Marc Fogassa, Chief Executive Officer and Chairman of Atlas Lithium. “Our continued progress reflects disciplined and methodical execution across every front – permitting, contracting, and engineering. Importantly, we are already creating some of the best jobs in the Jequitinhonha Valley, and our continued growth will translate into further gains for our communities and the local economy.”

Atlas Lithium holds the largest lithium exploration portfolio in Brazil among publicly listed companies – approximately 557 square kilometers of mineral rights across the country’s premier lithium districts. Over time, the Company intends to build on this footprint by expanding industrial capacity at the Neves Project and developing additional processing facilities across its broader project portfolio, thereby positioning Atlas Lithium to scale production as global lithium demand grows, driven by the expected long-term expansion of artificial intelligence data centers and continued electric vehicle adoption.

About Atlas Lithium Corporation

Atlas Lithium Corporation is a lithium development company focused on advancing its Neves Project to production. The Neves Project is fully permitted, and its Definitive Feasibility Study demonstrates robust economics with a 145% IRR and an 11-month payback. With approximately 557 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 20% ownership stake in Atlas Critical Minerals Corporation.