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Atlas Lithium's Lithium Ore Concentrates to Battery Supply-Chain Grade

Belo Horizonte, Brazil–(Newsfile Corp. – March 15, 2023) – Atlas Lithium Corporation (NASDAQ: ATLX) ("Atlas Lithium" or the "Company"), a leading developer of hard-rock lithium assets, today announced that the metallurgical team of SGS Canada Inc. (SGS) produced at their Lakefield site over 10 kg of commercial-grade lithium concentrate from processing approximately 117 kg of representative ore from the Company's 100%-owned Minas Gerais Lithium Project using standard dense media separation ("DMS") technology. Processing of Atlas Lithium's ore showed effective separation, high recovery, and no significant contaminants. SGS has been providing testing and analytical services to the mining industry since 1941 and has earned the reputation as the leading provider of bankable metallurgical services.

Marc Fogassa, Atlas Lithium's Chairman and Chief Executive Officer, commented: "These results indicate that efficient and cost-effective processing using well-established DMS methods is possible for our ore. Our samples achieved commercial grade for use within established battery supply-chain processing routes. We believe that this is a key milestone as we further advance our project."

Marc Fogassa, and Igor Tkachenko, the Company's Vice President of Strategic Development, recently visited SGS' Lakefield metallurgical operation to meet the SGS metallurgical experts on-site and to receive a sample of Atlas Lithium's concentrate. A photo of Dr. Massoud Aghamirian, Principal Metallurgist with SGS, alongside Marc Fogassa during the site visit is attached to this release. A photo of the retrieved lithium concentrate sample is also included in this release.

Atlas Lithium expects to receive the finalized metallurgical testing report from SGS in the coming weeks. Importantly, the data from this report is an essential component of the forthcoming Preliminary Economic Analysis ("PEA") of the Company's lithium project.

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About Atlas Lithium Corporation

Atlas Lithium Corporation (NASDAQ: ATLX) is focused on advancing and developing its 100%-owned hard-rock lithium projects which consist of 64 mineral rights spread over approximately 75,040 acres (304 km2) located primarily in the Lithium Valley area of the state of Minas Gerais in Brazil. In total, Atlas Lithium has 100% ownership of mineral rights for almost all battery metals including lithium (304 km2), nickel (222 km2), rare earths (122 km2), titanium (89 km2), and graphite (56 km2), in addition to mining concessions for gold, diamonds, and sand. 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).

About SGS

SGS is the world’s leading testing, inspection and certification company. SGS is recognized as the global benchmark for quality and integrity. With more than 97,000 employees, SGS operates a network of over 2,650 offices and laboratories around the world. SGS is constantly looking beyond customers’ and society’s expectations in order to deliver market leading services wherever they are needed. Working together to make the world a better, safer place.

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; and dependence on key management.

Atlas Lithium advises U.S. investors that its properties and projects, and those of its subsidiaries, as of now, are exploratory and do not have measured "reserves" as such term is defined by the Securities and Exchange Commission ("SEC"). Additional risks related to the Company and its subsidiaries are more fully discussed in the section entitled "Risk Factors" in the Company's Registration Statement on Form S-1 filed with the SEC on January 28, 2022 and declared effective on January 9, 2023, as well as discussions of potential risks, uncertainties, and other important factors in the Company's other filings with the SEC, all of which are available at 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
[email protected]

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