Atlas Lithium Corp.

Atlas Lithium Corp. is a junior lithium development company headquartered in Belo Horizonte, Brazil, operating primarily in South America. The company's portfolio consists of 1 development project, in addition to several early-stage exploration prospects. Key assets include Neves. The organization is a mineral exploration and development company transitioning from exploration to active mining operations. Its business model is centered on producing a key concentrate for the battery supply chain. A cornerstone of the operational approach is a modular dense media separation (DMS) processing plant, designed for high operational efficiency and the production of high-quality concentrate. This facility incorporates advanced, environmentally conscious design features, including a compact footprint to minimize environmental impact, internal water recycling systems to conserve resources, and a dry-stacking tailings management process that eliminates the need for traditional tailings dams. The company also holds exploration properties for other battery minerals through a consolidated subsidiary, providing a degree of diversification. The enterprise is positioned to emerge as a key contributor to the sustainable energy transition by leveraging competitive production costs and high-quality spodumene.

The company's regional growth strategy prioritizes bringing its flagship development project into production while concurrently advancing exploration at other high-potential targets. To accelerate production readiness, the leadership team has been strengthened with strategic appointments, including a Project Management Officer and Vice President of Engineering with experience in managing large-scale mining projects, and a Head of Business Development for Asia to expand its global presence. The organization's capital strategy involves securing funding through equity placements, such as a significant investment from a strategic partner, and offtake agreements that include prepayment components upon reaching specified milestones. These agreements with major industry participants are designed to secure future sales and de-risk project development. The entity is also engaging specialized firms to produce definitive feasibility studies to support its progression toward becoming a producer.

Executive leadership is centered on the Chairman and Chief Executive Officer, who has served since 2012 and possesses extensive experience in venture capital and public company management. The Board of Directors is composed of 5 members, 3 of whom are independent. Board oversight is structured through an Audit Committee, a Compensation Committee, and a Nominations Committee, all of which are composed entirely of independent directors. The Audit Committee includes a member who qualifies as an audit committee financial expert. Due to the CEO's voting control through a special class of preferred stock held since 2012, the company is deemed a 'controlled company' under exchange rules but has elected not to utilize the associated governance exemptions. Management has also focused on strengthening internal controls, successfully remediating a previously identified material weakness in financial reporting.

Environmental stewardship is demonstrated through the design of its processing plant, which incorporates advanced water conservation via internal recycling systems and sustainable tailings management using dry-stacking technology, eliminating the need for tailings dams. The organization's commitment to social development includes numerous community initiatives, such as providing equipment for local infrastructure works, improving road access, and constructing facilities for a local school and church. Professional development programs are a key focus, featuring a trainee plan for the inclusion of women in technical roles, an internship agreement with a local educational institute, and partnerships to offer professional courses to the community. The company also prioritizes hiring from local communities at wages above regional averages to foster economic growth and opportunity.

The corporate structure includes several wholly-owned subsidiaries that hold its mineral rights. The company holds a 32.7% equity interest in Atlas Critical Minerals Corporation and consolidates its financial results. In November 2024, Atlas Critical Minerals consummated a merger with Apollo Resources Corporation, which was previously a majority-owned subsidiary of the company. A significant structural development occurred in March 2024, when Mitsui & Co., Ltd. became a major shareholder through a registered direct offering. In connection with this investment, a subsidiary entered into an offtake and sales agreement with Mitsui. In December 2024, the company entered into an option agreement granting Atlas Critical Minerals the right to acquire its wholly-owned subsidiary, Brazil Minerals Resources Corporation. The company also has offtake agreements with Sichuan Yahua Industrial Group and a subsidiary of Shenzhen Chengxin Lithium Group, established in December 2023.