Grata do Cirilo Open Pit Mineral Reserve Increased By 40% Extending Operations To 25 Years

SÃO PAULO - Sigma Lithium Corporation reported increasing its Proven and Probable Mineral Reserves at Grota do Cirilo operation at Vale do Jequitinhonha by 40%, equivalent to 22.2 million tonnes. The Company is increasing its consolidated Proven and Probable Reserve balance to 77.0 million tonnes at 1.40% lithium oxide (Li2O) from 54.8 million tonnes at 1.44% prior. The increase occurs within the combined phases 3 and 4 mines, resulting in a lengthening of the duration of its integrated mining and beneficiation operations to an estimated 25 years at two lines of processing capacity totaling 520,000 tonne per annum (includes the second industrial line of 250,000 tonnes currently under construction).

The increased mineral Reserve balance enables meaningful opportunities for continued low-cost lithium production growth at Sigma Lithium's Grota do Cirilo operations by supporting a third and potentially fourth processing facility, or a longer operating life at the Company's currently planned lithium throughput. As the available balances show consistent minerology and are available through open pit mining operations, the Company expects to maintain its current, Phase 1, low operating cost model as it expands into additional phases.

This increase in mineral Reserves does not represent the full extent of the conversion of mineral Resources as announced by the Company on January 31, 2024. Sigma Lithium continues to execute the mineral and geological development work in order to further convert its Resources into Reserves over time.

"The mineral Reserve update comes as a result of months of detailed specialized geo statistical technical modeling work from the mining team to process and optimize our mine plans around the increased resource data" says, Reinaldo Brandão, Co-General Manager and head of Mining Operations. "The entirety of this Reserve balance is available near surface, allowing to the Company to efficiently mine through low cost, open pit, mining practices, avoiding the operational risks and higher levels of water use associated with underground activity."