Atlas Lithium Corporation (NASDAQ:ATLX) ("Atlas Lithium" or "Company"), a leading lithium exploration and development company, is pleased to announce that it received the operational permit for its Neves Project from the government of the state of Minas Gerais in Brazil. With this positive decision, Atlas Lithium has all the needed authorizations to assemble and run its processing plant and develop open-pit mining operations at one of its lithium deposits. This marks a crucial milestone in the Company's goal of becoming a lithium producer.

On October 25, 2024, a voting board comprised of twelve representatives from the local civil society and government unanimously approved Atlas Lithium's license application for its Neves Project, resulting in the formal issuance of the permit. On October 26, 2024, the permit was formally published in the official gazette of the Minas Gerais government. This outcome follows the technical recommendation for approval issued by the Environmental Foundation of Minas Gerais in September 2024.

The permit authorizes Atlas Lithium to assemble and operate its lithium processing plant, to process mined ore from one of its deposits at the facility, and to sell the lithium concentrate that it produces. This key development comes after an extensive technical review process by regulatory agencies that began with the Company's initial permit application on September 1, 2023. The triphasic permit obtained by Atlas Lithium is the most expeditious licensing modality available as it encompasses the initial, the installation, and the operating licenses all within this same issued authorization (known as "LI/LP/LO" in the local regulatory terminology).