Sigma Lithium increases Proven and Probable Mineral Reserves 40%

Sigma Lithium is increasing its Proven and Probable Mineral Reserves at its 100% owned Grota do Cirilo operation at Vale do Jequitinhonha by 40%, equivalent to 22.2 million tons. The company is increasing its consolidated Proven and Probable Reserve balance to 77.0 million tons at 1.40% lithium oxide from 54.8 million tons 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 tons per annum. The increased mineral Reserve balance enables 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. The company expects to maintain its current, Phase 1, low operating cost model as it expands into additional phases. Sigma Lithium continues to execute the mineral and geological development work in order to further convert its Resources into Reserves over time.