Sigma Lithium Announces Results of Its Annual and Special Meeting of Shareholders

VANCOUVER, July 02, 2021 - Sigma Lithium Resources Corp. ("Sigma" or the "Company") ( TSX-V: SGMA ) ( OTC-QB: SGMLF ) is pleased to announce the voting results from its Annual and Special Meeting of Shareholders held on June 29, 2021 ("Meeting") hosted online by way of a live webcast, as detailed on the Management Information Circular of the Company dated May 28, 2021 ("Circular") available at www.sedar.com and the Company's website at www.sigmalithium.ca.

A total of 66,294,574 of Sigma's issued and outstanding common shares ("Common Shares"), representing 75.91% of the outstanding Common Shares, were voted at the Meeting in person and by proxy. Shareholders were invited to vote all the matters detailed in the Circular. The detailed results are set out below:

(i) Election of Directors

(ii) Appointment of Auditors

Appointment of KMPG LLP as Auditors of the Company for the ensuring year and authorizing the Directors to fix their remuneration.

(iii) Name Change

Amendment of the Company's articles to change the name of the Company to "Sigma Lithium Corp.", subject to regulatory approval.

(iv) By-Law No. 1

Repeal and replacement of the existing by-laws of the Company with a new By-Law No. 1.

(v) Consolidation

Amendment of the Company's articles to effect a consolidation of the common shares of the Company on the basis of one (1) post-consolidation common share for up to ten (10) pre-consolidation common shares, as determined by the Company's Board of Directors at its sole discretion.

(vi) Equity Incentive Plan

Amendment to the Company's equity incentive plan ("Equity Incentive Plan") to remove the restriction on granting awards under the Equity Incentive Plan to those eligible persons that are also quotaholders of A10 Investimentos Fundo de Investimento de A??es - Investimento no Exterior ("A10 FIA").

Note:
Pursuant to the terms of the Equity Incentive Plan and the policies of the TSX Venture Exchange, the amendment to the Equity Incentive Plan had to be approved by a majority of the votes casted by shareholders other than the A10 FIA quotaholders and persons related to them. A total of 49,199,709 Common Shares were therefore excluded from voting on the amendment of the Equity Incentive Plan.

For further detailed voting results on the Meeting, please refer to the Company's Report of Voting Results filed on SEDAR at www.sedar.com and at the Company's website.

FOR ADDITIONAL INFORMATION PLEASE CONTACT

Ana Cabral-Gardner
(Sao Paulo) +55 11 2985-0089
ir@sigmaca.com

Anthony Dovkants
(Sao Paulo) +55 11 3078-7272 (ext 204)
anthony@prconsultingamericas.com
media@sigmaca.com

LinkedIn Sigma Lithium
Instagram @sigmalithium
Twitter @SigmaLithium

ABOUT SIGMA LITHIUM

The Company is developing, with an environmental sustainability focused and ESG-centric strategy, the largest hard rock lithium deposits in the Americas, located at its wholly owned Grota do Cirilo Project in Brazil with the goal of participating in the rapidly expanding global supply chain of electric vehicles.

Based on its 2019 feasibility study report titled "Grota do Cirilo Lithium Project, Ara?uai and Itinga Regions, Minas Gerais, Brazil, National Instrument 43-101 Technical Report on Feasibility Study Final Report", with an effective date of September 16, 2019, the Company plans to produce 220,000/t annually of battery grade lithium concentrate (33,000 t of lithium carbonate equivalent in Phase 1 production) and expects to be amongst the world's lowest cost producers. In Phase 2 production, if warranted after ongoing feasibility study, production would be increased to 440,000 t (66,000 tonnes of LCE) annually. The first phase of production for the Project will utilize as feedstock spodumene from the Project's Xuxa deposit. The next production phase of the Project would be increased production including feedstock from the Project's Barreiro deposit.

Since 2018, the Company has been producing low carbon high purity lithium concentrate at an on-site demonstration pilot plant with the objective to ship samples to potential customers for product certification and testing. This pilot production has been an important part of the successful commercial strategy of the Company, allowing it to ship samples of its low carbon "green & sustainable" high purity lithium to leading global potential customers, for product certification and testing.

The Company is in pre-construction and detailed engineering of an environmentally friendly, fully automated, dense media separator production plant that applies proprietary algorithms to digitally control the dense media (the "Production Plant"). The Production Plant will be vertically integrated into the Company's mining operations, exclusively utilizing as feedstock the high purity spodumene ore with exceptional mineralogy from the Project. The Production Plant will process the spodumene ore into a high purity 6% battery-grade lithium concentrate engineered to the specifications of its customers in the lithium- ion battery supply chain for EVs.

In order to secure a leading position supplying the clean mobility and green energy storage value chains, the Company has consistently adhered to the highest standards of environmental, social and governance practices, which were established as part of its core purpose at inception in 2012. Its production process will be powered by clean energy and the Company will use state-of-the art water recirculation circuits in its processing combined with dry stacking tailings management. The DMS process of the Production Plant does not utilize hazardous chemicals, as a result its tailings are 100% recyclable into ancillary industries, such as ceramics.

The Company plans to achieve net zero carbon emission targets by 2023, partly as a result of its strategic decision to pursue generation of carbon credits through "in-setting" carbon credits (preserving and developing the agroforestry systems within its regional ecosystem). The Company is currently undergoing an independent assessment of its net carbon footprint, conducting an independent ISO 14000 compliant audit of its life cycle analysis together with an independent expert validation of its carbon credits generated by its internal preservation, reforestation, and compensation forestry programs. The Company expects to complete this workstream in the second half of 2021.

Sigma has significant potential for additional future expansion and growth, as it owns 27 mineral rights spread over 191 km² (which include mining concessions, applications for mining concessions, exploration authorizations and applications for mineral exploration authorizations). The Project area includes nine past producing lithium mines.

FORWARD-LOOKING STATEMENTS

This news release includes certain "forward-looking statements" under applicable Canadian securities legislation, including statements relating to the ultimate duration, impact and severity of the COVID-19 pandemic (including its impact on financial markets and national and multinational economies generally, and its impact on the growth of the electric vehicle market and other impacts on the demand for lithium products) and other forward-looking statements. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. All statements that address future plans, activities, events, or developments that the Company believes, expects or anticipates will or may occur are forward-looking information, including statements regarding the potential development of resources and drilling plans which may or may not occur. Forward-looking statements and information contained herein are based on certain factors and assumptions regarding, among other things, the market price of the Company's securities, metal prices, exchange rates, taxation, the estimation, timing and amount of future exploration and development, capital and operating costs, the availability of financing, the receipt of regulatory approvals, environmental risks, title disputes, litigation risks, failure of plant, equipment or processes to operate as anticipated, accidents, labour disputes, claims and limitations on insurance coverage and other risks of the mining industry, changes in national and local government regulation of mining operations, and regulations and other matters including the COVID-19 pandemic. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law. For more information on the risks, uncertainties and assumptions that could cause our actual results to differ from current expectations, please refer to our public filings available at www.sedar.com.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.