Boca Raton, Florida--(Newsfile Corp. - July 13, 2026) - Atlas Lithium Corporation (NASDAQ: ATLX) ("Atlas Lithium" or the "Company") today 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 (NASDAQ: ATLX) 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 (NASDAQ: ATCX).

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"), included as Exhibit 96.1 to the Company's Current Report on Form 10-Q for the quarter ended June 30, 2025, filed with the SEC on August 4, 2025; 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 SEC on March 4, 2026. 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 unless as otherwise required by applicable law.

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/304861

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