SIGMA LITHIUM FILES FY2022 AUDITED FINANCIAL STATEMENTS, CONTINUOUS DISCLOSURE REPORT AND NI 43- 101 TECHNICAL REPORT Concludes and Files 2022 Audited Annual Filings
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SIGMA LITHIUM FILES FY2022 AUDITED FINANCIAL
STATEMENTS, CONTINUOUS DISCLOSURE REPORT AND NI 43-
101 TECHNICAL REPORT
Concludes and Files 2022 Audited Annual Filings
• Sigma Lithium files its annual filings for the year ended December 31, 2022, including:
o Audited consolidated financial statements and the related management discussion and
analysis.
o Annual Information Form and annual report on Form 40-F.
• Sigma Lithium ended the fourth-quarter 2022 with C$96.4 million in cash and cash equivalents as of
December 31, 2022. The current cash position as of June 9, 2023, is C$67.1 million.
Filed an Amended and Restated Technical Report
• Amended and restated the report titled “Grota do Cirilo Lithium Project Araçuaí and Itinga Regions,
Minas Gerais, Brazil, Updated Technical Report” dated January 16, 2023.
• The information contained in this report, including resource and reserve estimates and financial
analysis and projections, is the same as the updated report currently on file dated January 16, 2023.
• The report reflects amendments pertaining to the 2022 Murial latest drilling program and the “filed
status” of the Barreiro environmental permitting process.
Production Advancement Highlights and 2023 Production Guidance
Sigma Lithium made significant strategic and operational progress, enabling it to successfully transition
from developer to producer by achieving key milestones safely, sustainably and on schedule :
• In April 2023, the Company started the production of its high purity 5.5% battery grade sustainable
lithium (“Green Lithium”).
o Sigma Lithium is rapidly scaling production, with future shipments of Green Lithium to supply a
globally diversified customer base.
• Issued production guidance for 2023: Expects to produce approximately 130,000 tonnes of Green
Lithium in calendar year 2023 as the Company ramps up to full-scale Phase 1 production.
• Delivered on “Zero Tailings” strategy: As a result of the successful implementation of the
environmental dry stacking circuit it developed, the Company has successfully sold its high-purity,
zero chemicals, approximately 1.3% lithium oxide (“Li2O”), hypofine tailings (“Green By-Products” or
“Green Tailings”), becoming the first lithium operation in the world to not require tailings dams.
o Achieved a major milestone for the battery materials industry, demonstrating that lithium
battery materials can be produced in harmony with the environment and without hazardous
tailings dams.
• Preliminary feasibility study in January 2023 confirmed the positive economic results of its
December 2022 production expansion study tripling project NPV to US$15.3 billion and production
capacity to 766,000 tonnes per annum.
Reinforces Commitment to Socially and Environmentally Sustainable Green Lithium
As it transitioned to a producer, Sigma Lithium has been scaling up its existing sustainability and social
initiatives to lift and support its communities:
• Fostered the Lithium Valley Brazil, anchoring the most environmentally and socially sustainable
lithium producer region of the world and ringing the opening bell at the Nasdaq Stock Market on May
10th alongside Governor of the State of Minas Gerais, Romeu Zema Neto, and Deputy Minister of
Mines and Energy, Vitor Saback.
• Received unanimous vote of approval for its operating environmental license, including from all the
voting NGOs.
• Delivering on United Nations Sustainable Development Goals (“UN SDG s”) including:
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o UN SDG #5, gender equality, and UN SDG #10, reduced inequalities:
▪ Increased microcredit program to 10,000 credit lines for female entrepreneurs.
▪ Announced a partnership with the State Attorney General of Minas Gerais to jointly
combat domestic violence in the region.
o UN SDG #6, clean water and sanitation, and UN SDG #13 climate action:
▪ Expanded the climate mitigation program for smallholder farmers and family
agriculture by completing 800 water capture basins to protect farmers against the
prolonged effects of drought and committing to build a total of 2,000.
▪ Donated and maintained 3,000 water tanks to rural residents in the Itinga and Araçuaí
regions without access to piped water.
Upcoming Milestones
• On track to achieve full Phase 1 run-rate production capacity of 270,000 tonnes per annum in Q3
2023 and expects to reach Phase 2 & 3 full production capacity in 2024, assuming the detailed
engineering workstream and FEL3 CAPEX assessment currently being conducted by DRA Global
Limited (“DRA”) supports an investment decision, which would position Sigma Lithium to be one of
the world's largest lithium producers.
o Revenue from Phase 1 expected in Q2 2023.
• Continuing to explore exploration targets with the goal of further increasing the project’s estimated
mineral resources.
• Initiate earthworks for Phase 2 & 3 expansion of the Greentech Production Plant (the “Greentech
Plant”) in Q3 2023, which is expected to triple production capacity to 766,000 tonnes per annum of
Green Lithium).
• Continuing commitment to social initiatives in Brazil and ongoing leadership in environmental and
social sustainability.
• Sigma Lithium will be featured again at COP 28 in Dubai as a case study in achieving Net Zero in the
critical minerals supply chain.
INVESTOR VIDEO CONFERENCE CALL
June 15, 2023, at 11:00 AM (ET)
Registration Link for Zoom video call below:
https://us06web.zoom.us/j/84470454556
Zoom Meeting ID: 844 7045 4556
VANCOUVER, CANADA – (June 12, 2023) – SIGMA Lithium Corporation (“Sigma Lithium” or the “Company”)
(NASDAQ: SGML, TSXV: SGML) , dedicated to powering the next generation of electric vehicles with
environmentally sustainable and high -purity lithium , announces the filing of its audited consolidated financial
statements for the year ended December 31, 2022, the related management discussion and analysis (“MD&A”),
and its annual information form and annual report on Form 40 -F for the year ended December 31, 2022
(collectively, the “Annual Filings”). Sigma Lithium continues to work diligently and expeditiously to complete the
work necessary to finalize its unaudited consolidated financial statements for the quarter ended March 31, 2023,
and the related MD&A.
The Annual Filings are available on SEDAR (www.sedar.ca), EDGAR (www.sec.gov) and the Company's corporate
website.
PRODUCTION UPDATE
In April 2023 , the Company started the production of its environmentally sustainable battery -grade lithium
concentrate (“Green Lithium”). Moreover, the Company has delivered on its “Zero Tailings” strategy by developing
and implementing its environmental dry stacking ci rcuit. Sigma Lithium has successfully sold its dry stacked
tailings, becoming the first lithium operation in the world to not require tailings dams.
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The Company recently received the first payment on its first shipment under a three -year environmental offtake
agreement to sell 100% of its high-purity, zero chemicals, approximately 1.3% Li2O, hypofine by-products (“Green
By-Products” or “Green Tailings” ), together with one spot shipment of 15,000 tonnes of high purity 5.5% battery
grade sustainable lithium, both produced by the Greentech Plant.
“This is an exciting time for Sigma Lithium as we ramp up production to full capacity and prepare our very firs t
shipment of Green Lithium to be delivered this month , becoming the first new producer to successfully enter the
battery grade lithium market in five years ,” said Ana Cabral -Gardner, Sigma Lithium CEO and Co -Chairperson.
“Sigma Lithium is leading the char ge in establishing a sustainable global value chain for electric vehicles to meet
the accelerating global demand for Green Lithium. Our unique operating model enables cost -efficient production
of high-grade, high-purity lithium and proves that lithium extraction can be done in a way that is both environmentally
and socially responsible and sustainable.”
“We have a significant growth opportunity well beyond Phase 1 production, and we plan to complete the detailed
engineering for the construction of the expansion of the production capacity of the Greentech Plant (Phase 2 & 3)
in the third quarter of 2023,” she added.
Phase 2 & 3 of the project are expected to increase production to 766,000 tonnes annually (or 104,200 LCE
annually), assuming the detailed engineering workstream and FEL3 CAPEX assessment currently being
conducted by DRA supports an investment decision.
Photos: Green Lithium production underway at Sigma Lithium’s Green tech Plant
2023 PRODUCTION GUIDANCE
Upon successfully transitioning from development to production phase, Sigma Lithium has issued initial
production guidance for the calendar year 2023 of approximately 130,000 tonnes of Green Lithium.
FILED AN AMENDED AND RESTATED TECHNICAL REPORT
Sigma Lithium requested SGS Geological Services ( “SGS”) to prepare an amended and restated NI 43 -101
Technical Report (“the Report”) on Sigma Lithium’s Grota do Cirilo project located in Minas Gerais State, Brazil
(“the Project”).
This report amended and restated the report titled “Grota do Cirilo Lithium Project Araçuaí and Itinga Regions,
Minas Gerais, Brazil, Updated Technical Report” dated January 16, 2023. The report reflects amendments
pertaining to the Murial latest drilling program and the “filed status” of the Barreiro environmental permitting
process.
Except as otherwise indicated, the effective date of this report is the same as the Updated Technical Report,
except for the amendments described above. The information in this report, including resource and reserve
estimates and financial analysis and projections, are the same as the updated report.
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The Restated Technical Report was prepared for Sigma Lithium by: Homero Delboni Jr., MAusIMM, Promon
Engenharia; Marc Antoine Laporte, P.Geo, SGS Canada Inc; Jarrett Quinn, P.Eng., Primero Group Americas;
Porfirio Cabaleiro Rodriguez, (MEng), FAIG, GE21 Consultoria Mineral; and Noel O’Brien, B.E., MBA, F AusIMM.
ESG UPDATE
Sigma Lithium’s mission statement and key focus have been guided by making business decisions in a manner
consistent with furthering the United Nation s Sustainable Development Goals (“UN SDGs”) and adhering to
the highest level of ESG practices.
Specifically, Sigma Lithium is focused on the following three pillars: (i) sustainable development; (ii) minimizing
the environmental impact of our operations; and (iii) improving the lives of those in and around the region where
we operate. Further, the Company remains focused on global leadership to increase awareness of our “green
battery metals” approach.
Sigma Lithium is proud to report the progress made during the fourth quarter of 2022 to advance its social
and environmental programs, which have been developed to ensure the sustainable construction of the Project
and development of the Jequitinhonha Valley region, including social advancement of its population, where we
operate. In addition, we scaled up our social commitments as we transitioned from developer to producer, with
the following updates in 2023:
• Increased microcredit program to 10,000 credit lines for female entrepreneurs.
• Signed donation agreement to become the second-largest anchor donor to the Columbia University Climate
Hub in Brazil.
• Announced a partnership with the State Attorney General of Minas Gerais to jointly combat domestic violence
in the region.
• Increased the climate mitigation program for smallholder farmers and family agriculture by committing to
build 2,000 water capture basins to protect farmers against the prolonged effects of drought during the nine-
month dry season.
• Committed to donating and maintaining 3,000 water tanks to rural residents of the regions of Itinga and
Araçuaí that do not have access to piped water.
For more information on our ESG commitments, progress and updates, check the Company’s website and
MD&A filing.
QUALIFIED PERSONS
The technical and scientific information related to geology and mineral resource estimates in this news release
has been reviewed and approved by Marc -Antoine Laporte P.Geo., M.Sc., of SGS. Mr. Laporte is a Qualified
Person as defined by National Instrument 43-101 and is independent of Sigma Lithium.
ABOUT SIGMA LITHIUM
Sigma Lithium (NASDAQ: SGML, TSXV: SGML) is a company dedicated to powering the next generation of
electric vehicle batteries with environmentally sustainable and high-purity lithium.
Sigma Lithium has been at the forefront of environmental and social sustainability in the EV battery materials
supply chain for six years and it is currently producing Green Lithium from its Grota do Cirilo Project in Brazil .
Phase 1 of the project is expected to produce 270,000 tonnes of Green Lithium annually (36,700 LCE annually).
Phase 2 & 3 of the project are expected to increase production to 766,000 tonnes annually (or 104,200 LCE
annually), assuming the detailed engineering workstream and FEL3 CAPEX assessment currently being
conducted by DRA supports an investment decision . The project produces Green Lithium in a state-of-the-art
Greentech lithium plant that uses 100% renewable energy, 100% recycled water and 100% dry-stacked tailings.
Please refer to the Amended and Restated Technical Report , which is filed on SEDAR and is also available on
the Company’s website.
For more information about Sigma Lithium, visit https://www.sigmalithiumresources.com/
FOR ADDITIONAL INFORMATION PLEASE CONTACT
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Jamie Flegg, Chief Development Officer
+1 (647) 706-1087
Daniel Abdo, Chief Communications Officer
+55 11 2985-0089
Sigma Lithium
Sigma Lithium
@sigmalithium
@SigmaLithium
FORWARD-LOOKING STATEMENTS
This news release includes certain "forward -looking information" under applicable Canadian and U.S. securities legislation,
including but not limited to statements relating to production guidance for 2023; future shipments of Green Lithium; Phase 1, 2,
and 3 production capacities and the timing thereof; revenue and free cash flow and the timing thereof; potential Phase 2 and 3
expansion; future exploration to potentially increase mineral resource estimates; future ESG commitments and plans; and timing
and costs related to the general business and operational outlook of the Company , and other forward-looking information. All
statements that address future plans, activities, events, estimates, expectations or developments that the Company believes,
expects or anticipates will or may occur is forward -looking information, including statements regarding the potential
development of mineral resources and mineral reserves which may or ma y not occur. Forward -looking information contained
herein is based on certain assumptions regarding, among other things: general economic and political conditions; the stable and
supportive legislative, regulatory and community environment in Brazil; deman d for lithium, including that such demand is
supported by growth in the electric vehicle market; the Company’s market position and future financial and operating
performance; the Company’s estimates of mineral resources and mineral reserves, including whether mineral resources will ever
be developed into mineral reserves; and the Company’s ability to operate its mineral projects including that the Company will
not experience any materials or equipment shortages, any labour or service provider outages or delays or any technical issues.
Although management believes that the assumptions and expectations reflected in the forward -looking information are
reasonable, there can be no assurance that these assumptions and expectations will prove to be correct. Forward -looking
information inherently involves and is subject to risks and uncertainties, including but not limited to that the mark et prices for
lithium may not remain at current levels; and the market for electric vehicles and other large format batteries currently has limited
market share and no assurances can be given for the rate at which this market will develop, if at all, which could affect the
success of the Company and its ability to develop lithium operations. 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 information. The Company disclaims any intention or obligation to
update or revise any forward -looking information, whether because of new information, future events or otherw ise, except as
required by law. For more information on the risks, uncertainties and assumptions that could cause our actual results to diff er
from current expectations, please refer to the current annual information form of the Company and other public filings available
under the Company’s profile 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.