Atlas Lithium Subsidiary's Iron Quadrangle Project on Track for Q4 2025 Revenues

Rhea-AI Summary

Atlas Lithium (NASDAQ: ATLX) announced that its 30%-owned subsidiary, Atlas Critical Minerals (OTCQB: JUPGF), is advancing its Iron Quadrangle Project in Minas Gerais, Brazil, with expected revenue generation starting in Q4 2025.

The project will operate through a strategic partnership model where a partner company will handle mining operations and processing, converting raw iron ore into high-quality sinter feed. ACM will receive revenues from run-of-mine material and a percentage of final product sales.

The Iron Quadrangle Project has achieved key milestones including systematic exploration since 2020, a drilling campaign, technical report publication in 2022, and securing both a 10-year operational license and mining concession status in 2024-2025.

Positive

• Strategic partnership model enables revenue generation without significant capital investment
• Project expected to begin generating revenue in Q4 2025
• Secured 10-year operational license and mining concession status
• Diversification of revenue streams through multiple minerals exposure
• Partnership with established processor reduces operational risks

Negative

• Atlas Lithium only owns 30% of the subsidiary, limiting revenue potential
• Project exploration only covers approximately 10% of the total area
• Revenue sharing model may result in lower margins compared to full ownership

Strategic Partnership Model Allows for Near-Term Cash Flow Generation

Boca Raton, Florida--(Newsfile Corp. - September 2, 2025) - Atlas Lithium Corporation (NASDAQ: ATLX) ("Atlas Lithium" or "Company"), a leading lithium development company advancing towards production at its flagship Neves Lithium Project, today announced significant progress by its 30%-owned subsidiary, Atlas Critical Minerals Corporation (OTCQB: JUPGF) ("Atlas Critical Minerals" or "ACM"). ACM's Iron Quadrangle Project is expected to generate initial revenues in the fourth quarter of 2025 through a strategic partnership with an iron ore processing company, marking a major milestone in the Company's diversified portfolio strategy.

The Iron Quadrangle Project, named after its world-renowned location in the State of Minas Gerais, Brazil, will leverage a capital-efficient revenue model through partnership with an established iron ore processor. Under this arrangement, mining operations and processing of extracted iron ore will be performed by the partner company, which owns processing facilities capable of transforming ACM's unprocessed iron ore into high-quality sinter feed. Atlas Critical Minerals will receive revenues from its run-of-mine material and a percentage of the final sinter feed product sales. Figure 1 is a photograph of the plant expected to process ACM's iron ore.

Figure 1 - Plant where Atlas Critical Minerals' iron ore will be processed.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/6706/264678_20f34572847d4abb_002full.jpg

"This development represents a significant step forward for our portfolio of quality projects with reasonable timeline to production," said Marc Fogassa, Chairman and CEO of Atlas Lithium Corporation. "Our ownership stake in Atlas Critical Minerals is expected to provide our shareholders with exposure to multiple minerals and their uncorrelated revenue streams. The Iron Quadrangle Project's path to near-term profitability exemplifies this strategy."

The Iron Quadrangle Project benefited from ACM's systematic exploration and development. Atlas Critical Minerals acquired the mineral right in 2020, conducted detailed geological exploration including a drilling campaign covering approximately 10% of the area in 2021 and 2022, and published an initial technical report in accordance with U.S. guidelines in 2022. The Iron Quadrangle Project received a 10-year operational license from the State of Minas Gerais in May 2024 and its mineral right was granted mining concession status by the Ministry of Mines and Energy in May 2025.

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 797 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

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/264678

FAQ

When will Atlas Lithium's Iron Quadrangle Project start generating revenue?

The Iron Quadrangle Project is expected to begin generating revenue in Q4 2025 through its strategic partnership with an iron ore processing company.

What percentage does Atlas Lithium own of Atlas Critical Minerals (JUPGF)?

Atlas Lithium owns a 30% stake in Atlas Critical Minerals Corporation (OTCQB: JUPGF).

How will Atlas Lithium's Iron Quadrangle Project generate revenue?

The project will generate revenue through a partnership model where ACM receives payments from run-of-mine material and a percentage of final sinter feed product sales.

What licenses has the Iron Quadrangle Project secured?

The project has secured a 10-year operational license from the State of Minas Gerais (May 2024) and a mining concession from the Ministry of Mines and Energy (May 2025).

Where is Atlas Lithium's Iron Quadrangle Project located?

The Iron Quadrangle Project is located in the State of Minas Gerais, Brazil, in a world-renowned mining region.