Atlas Lithium Appoints Industry Veteran Nicholas Rowley as Vice President of Business Development

Boca Raton, August 21, 2023 - Atlas Lithium Corp. (NASDAQ: ATLX) ("Atlas Lithium" or "Company") is pleased to announce the appointment of Mr. Nicholas Rowley as its Vice President of Business Development effective immediately. Mr. Rowley brings over a decade of experience with many strong relationships built over time throughout the global lithium space. Atlas Lithium plans to develop an environmentally friendly and efficient facility to produce lithium concentrate in Brazil's Lithium Valley. The Company owns a large portfolio of mineral rights for hard-rock lithium in the state of Minas Gerais where Lithium Valley is located.

Mr. Rowley joins the Atlas management team following a lengthy and highly successful career at Galaxy Resources Ltd., a lithium-focused company with assets spanning Australia, Canada, and Argentina where he held several key roles, most notably Director of Corporate Development. In this position, he contributed significantly to the growth and enhancement of the Galaxy portfolio of assets through partnerships and divestitures and later to the implementation of its AUD 6 billion merger with Orocobre Limited in 2021, creating Allkem Limited, one of the world's largest lithium producers.

Mr. Rowley is also the founder and Chief Executive Officer of Electramin, a global battery metal trading company. In addition, he is the founder and executive director at RTEK International, which has offered mining engineering, planning and business development services to hard-rock lithium explorers and producers worldwide. Mr. Rowley holds a Bachelor's degree in Finance and Management from the University of Notre Dame, Australia.

"I am delighted to welcome Mr. Rowley to our management team," said Marc Fogassa, Chairman and Chief Executive Officer of Atlas Lithium. "It is a testament to the strength of Brazil's Lithium Valley as a mining jurisdiction that we can attract such talent. Atlas Lithium has been approached by multiple companies within the global lithium space seeking to learn more about our exciting project and Nick will rapidly advance those conversations. Additionally, given his experience with lithium projects that transitioned from explorer to producer, I believe that Nick will add tremendous value in our continued progress towards the production stage."

About Atlas Lithium Corporation

Atlas Lithium Corp. (NASDAQ: ATLX) is focused on advancing and developing its 100%-owned hard-rock lithium project in Brazil's Lithium Valley, a well-known lithium district in the state of Minas Gerais. In addition, Atlas Lithium has 100% ownership of mineral rights for other battery and critical metals including nickel, rare earths, titanium, and graphite. The Company also owns equity stakes in Apollo Resources Corp. (private company; iron) and Jupiter Gold Corp. (OTCQB: JUPGF) (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 and Section 21E of the Securities Exchange Act of 1934. Forward looking statements are based upon the current plans, estimates and projections of Atlas Lithium Corp. and its subsidiaries (collectively, "Atlas Lithium" or "Company") 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 Annual Report on Form 10-Q filed with the SEC on August 14, 2023. 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:

Michael Kim or Brooks Hamilton

MZ Group - MZ North America

+1 (949) 546-6326

ATLX@mzgroup.us

https://www.atlas-lithium.com/

@Atlas_Lithium

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/177853