Boca Raton, Florida–(Newsfile Corp. – July 13, 2023) – Atlas Lithium Corporation (NASDAQ: ATLX) (“Atlas Lithium” or “Company”), a leading mineral exploration company, is pleased to announce its new geochemical high mark for lithium mineralization from its ongoing exploration campaign at its Neves Project in Brazil’s Lithium Valley. Drill hole DHAB-185 yielded an intersect with 5.23% Li2O mineralization extending from 9.20 to 10.30 meters. According to the Company’s technical experts at SGS Canada Inc. (“SGS”), a world leader in mineral resource evaluation, such high grade close to the surface is not common. In aggregate, DHAB-185 showed 21.75 meters at an average grade of 2.12% Li2O. DHAB-185 is located at the new frontier of the ongoing exploration drilling campaign, approximately 650 meters southwest of its Anitta pegmatite trend. This new area is being provisionally referred to as “Anitta 2.”

Marc Fogassa, Atlas Lithium’s CEO and Chairman, commented, “This result places our Neves Project into the select category of those with encountered lithium mineralization of greater than 5% Li2O. It is rewarding to see the promising results of our exploration campaign such as the discovery of this new ore body.”

The Company’s exploration program is supervised by a Qualified Person as defined by Subpart 1300 of Regulation S-K promulgated by the U.S. Securities and Exchange Commission (“Regulation S-K 1300”). Atlas Lithium has engaged SGS, and in particular, their geologist Marc-Antoine Laporte, a Qualified Person under Regulation S-K 1300, to produce its initial mineral resource estimate report under Regulation SK-1300 for the Company’s Neves Project. Mr. Laporte has worked on lithium properties in Brazil’s Lithium Valley since 2017.

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Figure 1 – Atlas Lithium’s Neves Project and additional mineral rights in relation to the areas of Sigma Lithium Corporation, a nearby lithium producer in Brazil’s Lithium Valley.