Atlas Lithium's Modular Processing Plant Arrives in Brazil, Achieving Critical Milestone Toward Production

Rhea-AI Summary

Atlas Lithium (NASDAQ: ATLX) has achieved a significant milestone with the arrival of its modular Dense Media Separation (DMS) lithium processing plant at Brazil's Port of Santos on March 7, 2025. The shipment included 141 containers and 10 bulk components, with two additional containers of spare parts expected soon.

The fully-owned facility, which departed from South Africa's Port of Durban on February 2, 2025, features advanced design elements including:

• Compact, modular design for efficient installation
• Reduced environmental footprint
• Advanced water conservation systems
• Dry-stacking technology eliminating tailings dams

The company's Neves Project, which received its operational permit in October 2024, aims to produce up to 150,000 tonnes annually of battery-grade spodumene concentrate. The project is strategically located in Brazil's Lithium Valley, positioning Atlas Lithium to potentially achieve lower production costs compared to Australian suppliers.

Positive

• Fully owned and paid processing plant demonstrates strong financial position
• Secured operational permits for the Neves Project
• Potential for lower production costs compared to Australian competitors
• Advanced environmental technology could reduce operational expenses
• 150,000 tonnes annual production capacity indicates significant revenue potential

Negative

• Plant not yet operational - additional time needed for installation and commissioning
• Two containers of spare parts still pending delivery
• No current revenue generation from lithium production

Boca Raton, Florida--(Newsfile Corp. - March 10, 2025) - Atlas Lithium Corporation (NASDAQ: ATLX), a leading lithium development company, announces the successful arrival of its modular Dense Media Separation (DMS) lithium processing plant at the Port of Santos, Brazil. This pivotal achievement underscores the Company's progress toward becoming a key lithium producer in Brazil's emerging Lithium Valley.

The components of Atlas Lithium's lithium processing plant were carried by the cargo vessel Irene's Wisdom (IMO: 9953391) which arrived at the Port of Santos on March 7, 2025, delivering 141 containers and 10 bulk components. Fully owned and paid for by Atlas Lithium, this newly manufactured facility departed from the Port of Durban, South Africa, on February 2, 2025, following months of careful planning and preparation. Two additional containers, containing spare parts, are scheduled to arrive in the near future.

"This marks a transformative milestone for Atlas Lithium as we advance toward becoming a global supplier in the lithium market," said Marc Fogassa, Chairman and CEO of Atlas Lithium. "With operational permits secured and our modern lithium processing facility now in Brazil, we have overcome two of the most significant hurdles on our journey to production."

Cutting-Edge Modular Plant Design

Atlas Lithium's lithium processing plant incorporates advanced design elements and sustainable technology that set a new benchmark for lithium processing:

• Compact, Modular Design: Allows streamlined transportation, installation, and commissioning, reducing time to production.
• Reduced Environmental Footprint: Optimized physical layout minimizes environmental impact while maintaining high operational efficiency.
• Advanced Water Conservation: Internal recycling systems with lower water consumption compared to traditional plants.
• Sustainable Tailings Management: Dry-stacking technology eliminates the need for tailings dams, promoting greater environmental sustainability.

Strategic Progress Toward Production

The Neves Project, Atlas Lithium's flagship operation, received its operational permit from the state of Minas Gerais in October 2024. The project is positioned to initially produce up to 150,000 tonnes per year of battery-grade spodumene concentrate, a critical raw material for lithium-ion batteries.

Atlas Lithium's operations will benefit from Brazil's Lithium Valley's strategic advantages, including expected lower production costs as compared to suppliers from Australia and other regions.

About Atlas Lithium Corporation

Atlas Lithium Corporation (NASDAQ: ATLX) is advancing to production its wholly owned hard-rock lithium Neves Project located in the state of Minas Gerais, Brazil. The Neves Project received operational permitting from Minas Gerais in October, 2024. With approximately 539 square kilometers of lithium mineral rights in total, Atlas Lithium owns the largest lithium exploration footprint in Brazil of any publicly listed company. Additionally, Atlas Lithium currently holds an approximate 32.2% ownership stake in Atlas Critical Minerals Corporation.

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/A filed with the Securities and Exchange Commission (the "SEC") on November 9, 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

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/243918

FAQ

What is the production capacity of Atlas Lithium's (ATLX) Neves Project?

The Neves Project aims to produce up to 150,000 tonnes per year of battery-grade spodumene concentrate.

When did Atlas Lithium (ATLX) receive its operational permit for the Neves Project?

Atlas Lithium received its operational permit from the state of Minas Gerais in October 2024.

What environmental features does Atlas Lithium's (ATLX) new processing plant include?

The plant features water conservation systems, dry-stacking technology for tailings management, and a reduced environmental footprint design.

How many containers were shipped for Atlas Lithium's (ATLX) new processing plant?

The shipment included 141 containers and 10 bulk components, with 2 additional containers of spare parts expected to arrive later.