Atlas Lithium Accelerates Production Readiness with Key Executive Appointments

Rhea-AI Summary

Atlas Lithium (NASDAQ: ATLX) has announced two strategic appointments to strengthen its leadership team as it progresses toward production at its Neves Project in Brazil's Lithium Valley. Eduardo Queiroz joins as Project Management Officer and VP of Engineering, bringing over 20 years of experience in managing large-scale mining projects, including US$3 billion worth of projects at Bamin. Lili Wu has been appointed as Head of Business Development for Asia, based in Beijing, bringing expertise in lithium and battery materials industries.

The company has existing offtake agreements with major partners including Mitsui & Co. in Japan and lithium producers Chengxin and Yahua in China. The appointments come as China's EV sales showed a 51% year-over-year increase as of November 2024, highlighting the region's importance in the global energy transition.

Positive

• Strategic hire of Eduardo Queiroz brings expertise in managing $3B+ mining projects
• Appointment of Lili Wu strengthens presence in key Asian markets
• Existing offtake agreements with major partners in Japan and China
• Positioning in China market where EV sales grew 51% YoY

Negative

• None.

Insights

Market Research Analyst

The appointment of two key executives at Atlas Lithium represents a strategic positioning move but lacks immediate financial impact. While Eduardo Queiroz's experience managing $3 billion projects and Lili Wu's connections in the Asian market are valuable assets, these appointments primarily signal future potential rather than current value creation.

The company's market positioning is noteworthy, particularly given China's 51% year-over-year growth in EV sales as of November 2024. However, as a pre-production company with a relatively small market cap of $101 million, Atlas Lithium needs to demonstrate concrete progress toward revenue generation. The existing offtake agreements with Mitsui & Co., Chengxin and Yahua provide a foundation, but execution remains the key challenge.

The Neves Project's development timeline and production targets remain unclear, making this news primarily about organizational development rather than material business progress.

Boca Raton, Florida--(Newsfile Corp. - December 30, 2024) - Atlas Lithium Corporation (NASDAQ: ATLX) ("Atlas Lithium" or "Company"), a leading lithium pre-production company, is pleased to announce two pivotal additions to its leadership team, marking a significant step forward in the Company's journey to becoming a leading lithium producer at its Neves Project in Brazil's thriving Lithium Valley.

Strengthening Project Implementation Expertise with Eduardo Queiroz

Eduardo Queiroz joins Atlas Lithium as Project Management Officer (PMO) and Vice President of Engineering, bringing over 20 years of hands-on experience managing complex, large-scale mining projects, and making him the perfect addition to drive the Company's Neves Project to revenue generation. Mr. Queiroz has more than two decades of expertise in managing large-scale and complex mining projects, most recently as General Manager of Planning and Management at Bamin, a unit of Eurasian Resources Group, where he successfully led the strategic planning of several projects over US$3 billion, including an integrated iron ore mining project encompassing mining operations, processing plant, railway, and ocean port facilities. His comprehensive experience includes engineering oversight, environmental compliance, risk management, and the implementation of cost-efficient operational strategies. He holds an MBA in Project Management from Fundação Getúlio Vargas and a degree in Civil Engineering from the Universidade Federal de Ouro Preto.

"Eduardo's arrival could not come at a better time," said Marc Fogassa, CEO and Chairman of Atlas Lithium. "As we prepare to transition into production, his proven track record in the implementation of Brazilian mining projects will be instrumental in our success. We are honored and thrilled to have him on our team."

Expanding Asian Market Presence with Lili Wu

In addition to strengthening our technical capabilities, Atlas Lithium is expanding its global footprint with the appointment of Lili Wu as Head of Business Development for Asia. Based in Beijing, Ms. Wu brings a wealth of knowledge and an extensive network in the lithium and battery materials industries. Her prior roles at InsightWoo and IHS Markit (now part of S&P Global) demonstrate her ability to drive results in international markets. From negotiating long-term procurement agreements to advising top financial institutions on lithium investments, she has a proven ability to add value in the ever-evolving lithium supply chain. Ms. Wu holds a Master's degree in Accounting from the University of New South Wales and a Bachelor's degree in International Trade from Beijing International Studies University.

The appointment of Ms. Wu comes at a strategic time as Atlas Lithium continues to strengthen its market presence in regions experiencing robust electric vehicle growth. Recent market data shows China's electric vehicle (EV) sales jumped 51% year-over-year as of November 2024, underlining the region's vital role in the global energy transition. With established offtake agreements with major partners like Mitsui & Co. in Japan and leading lithium chemical producers Chengxin and Yahua in China, Atlas Lithium has commercial relationships in key growth markets. This global approach positions the Company to capitalize on worldwide opportunities in the lithium supply chain while reducing dependence on any single regional market.

"I have had the privilege of working with Lili and her contributions have already been invaluable to Atlas Lithium," said Fogassa. "Her unparalleled work ethic and deep understanding of the Asian lithium market make her the perfect ambassador for this high EV growth region."

Positioned for Global Success

These strategic hires reflect the Company's unwavering commitment to excellence as it advances toward production. Eduardo Queiroz and Lili Wu represent the next generation of leadership at Atlas Lithium, bringing the vision, expertise, and energy we need to achieve our ambitious goals.

"At Atlas Lithium, our mission is not just to mine lithium but to power the world's transition to sustainable energy," said Fogassa. "With Eduardo's operational expertise and Lili's unmatched ability to navigate the dynamic Asian markets, we are well-positioned for growth. With a world-class team and a clear vision, Atlas Lithium is ready to deliver value to our shareholders, partners, and the global energy ecosystem."

About Atlas Lithium Corporation

Atlas Lithium Corporation (NASDAQ: ATLX) is advancing to production its wholly owned hard-rock lithium Neves Project located in the state of Minas Gerais, Brazil. The Neves Project has received operational permitting from Minas Gerais in October 2024. Additionally, with 539 square kilometers of lithium mineral rights, Atlas Lithium owns the largest lithium exploration footprint in Brazil of any publicly listed company. The company also holds a 32.7% ownership stake in Atlas Critical Minerals Corporation (formerly Jupiter Gold Corporation), a diversified mining company with significant mineral rights in rare earths, copper, graphite, nickel, iron ore, gold, and quartzite.

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: 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/A filed with the Securities and Exchange Commission (the "SEC") on November 9, 2024. 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.

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/235457

FAQ

What strategic appointments did Atlas Lithium (ATLX) announce in December 2024?

Atlas Lithium appointed Eduardo Queiroz as Project Management Officer and VP of Engineering, and Lili Wu as Head of Business Development for Asia.

What experience does Eduardo Queiroz bring to Atlas Lithium (ATLX)?

Eduardo Queiroz brings over 20 years of experience managing complex mining projects, including leading strategic planning for projects over US$3 billion at Bamin.

Who are Atlas Lithium's (ATLX) major offtake partners in Asia?

Atlas Lithium has offtake agreements with Mitsui & Co. in Japan, and Chengxin and Yahua in China.

What is the current status of Atlas Lithium's (ATLX) Neves Project in Brazil?

The Neves Project is in pre-production phase, with the company preparing to transition into production.

How much did China's EV sales grow according to Atlas Lithium's (ATLX) market data?

According to the press release, China's EV sales increased by 51% year-over-year as of November 2024.