Sigma Lithium Responds to Inaccurate Media Reports; Categorically Affirms Phase 2 & 3 Expansion Plans Are Proceeding as Planned; Strategic Process Successfully Continues
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SIGMA LITHIUM RESPONDS TO INACCURATE MEDIA
REPORTS; CATEGORICALLY AFFIRMS PHASE 2 & 3
EXPANSION PLANS ARE PROCEEDING AS PLANNED;
STRATEGIC PROCESS SUCCESSFULLY CONTINUES
HIGHLIGHTS
• Sigma Lithium vehemently denies inaccurate recent media reports that incorrectly
denominated as an “injunction” certain conditions established upon the approval by the
Brazilian Courts of the transfer of two Exploration Sub-Plots by RIX to Sigma Brazil.
• Sigma Lithium states as categorically incorrect recent media reports speculating that the
status or conditions attached to the transfer are impediments to the Company’s future
operations and its ability to conduct its Phase 2 & 3 expansion.
• The Brazilian Courts ruling just reinforced the Brazilian Mining Code, whereby both Sigma Brazil
and RIX have access ensured by rule of law to the Exploration Sub -Plots through a standard
“waste sharing agreement”.
o The two companies celebrated an irrevocably binding waste sharing agreement on
August 9, 2023.
• The Brazilian Courts authorized the transfer of the Exploration Sub-Plots by RIX without cost
to Sigma Brazil.
o Furthermore, the Brazilian Courts ruled that any undue loss to RIX can be resolved
through financial compensation amongst RIX shareholders.
o This compensation is an internal matter related to RIX and does not impact Sigma
Brazil nor Sigma Lithium.
•
SAO PAULO, BRAZIL – (Sept. 29 , 2023) – Sigma Lithium Corporation (“Sigma Lithium ” or the
“Company”) (NASDAQ: SGML, BVMF: S2GM34, TSXV: SGML) , a leading global lithium producer
dedicated to powering the next generation of electric vehicles with carbon neutral, socially and
environmentally sustainable chemical-grade lithium concentrate, categorically states that its Phase 2
& 3 expansion plans are proceeding as planned.
Sigma Lithium vehemently denies inaccurate recent media reports that incorrectly denominated as
an “injunction” certain conditions established upon the approval by the Brazilian Courts of the transfer
by RIX Mineração S.A. (“RIX”) to Sigma Brazil of two sub-divisions of an exploration permit
(“Exploration Sub-Plots”).
The Brazilian Courts authorized the transfer of the Exploration Sub-Plots by RIX without cost to
Sigma Brazil or Sigma Lithium.
• Furthermore, the Brazilian Courts ruled that any undue loss to RIX can be resolved through
financial compensation amongst RIX shareholders.
• This compensation is an internal matter related to RIX and does not impact Sigma Brazil or
Sigma Lithium.
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Sigma Lithium states as categorically incorrect recent media reports speculating that the status or
conditions attached to the transfer are impediments to the Company’s future operations and its ability
to conduct its Phase 2 & 3 expansion.
Sigma Lithium believes the decision by the courts approving the transfer of the Exploration Sub-Plots
by RIX with certain conditions was fair. The conditions are in line with the provisions within the
Brazilian Mining Law. RIX did not appeal the Brazilian Courts decision.
Both Sigma Brazil and RIX access to the small areas represented by the two Exploration Sub-Plots is
regulated by the Brazilian Mining Law through a standard “waste sharing agreement”.
• The two companies celebrated an irrevocably binding waste sharing agreement on August
9, 2023 ensuring access of both companies to the areas.
• Sigma Brazil is authorized to remove waste from the Exploration Sub-Plots in question, when
opening its Phase 2 & 3 pits.
• In the event of Sigma Brazil encounters any mineral in the Exploration Sub-Plots, it shall place
in a nearby location determined by RIX for its future use.
Paula Lacava, Sigma Lithium Chief Legal Counsel stated “Approving the transfer with conditions was
a wise decision by the Brazilian Courts, ruling in line with the Brazilian Mining Law: Not only validated
the transfer, but also solved the matter of whether the Exploration Sub-Plots might contain
economically mineable ore”.
The conditions established by the Courts allow Sigma Brazil to remove waste and ground within the
areas of the Exploration Sub-Plots, as planned, in line with the standard “waste sharing agreement”
signed. The conditions just reinforced the regulations in the Brazilian Mining Code:
(i) Sigma Brazil is just prevented from sub-leasing the “Exploration Sub-Plots” to a third
party and/or;
(ii) Profiting from the sale of mineral ore located in the “Exploration Sub-Plots”.
Therefore, these conditions are not material nor impact Sigma Lithium´s business or Sigma
Brazil´s operations.
The Exploration Sub-Plots do not contain any mineral reserves. The surface farms over the
Exploration Sub-Plots are held by private Brazilian land corporations, Miazga and Arqueana, both also
related parties, 51% controlled by Ana Cabral.
Hence the decision by the Brazilian Courts was not appealed by RIX or by Calvyn Gardner, a minority
shareholder of RIX.
Sigma Lithium continues its strategic review of proposals received from potential partners in various
industries globally.
Sigma Lithium’s Phase 2 & 3 mines are clear separate ore bodies from RIX’s deposits, as determined
by the vertical section at the border limit. Therefore, the mining activit ies of both Phase 2 & 3 are
ensured and regulated by rule of law (Mining Code and Federal Laws regulating the M ining Code),
including access guarantees.
RIX is a related party to Sigma Lithium. It is a Brazilian privately held holding corporation founded by
Ana Cabral in March 2009 and funded with her principal capital since inception. She controls 51% of
RIX and granted Calvyn Gardner 49% as an “earned free carry” for his work as an executive in the
Company.
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ABOUT SIGMA LITHIUM
Sigma Lithium (NASDAQ: SGML, BVMF: S2GM34, TSXV: SGML) is a leading global lithium producer
dedicated to powering the next generation of electric vehicle batteries with carbon neutral, socially
and environmentally sustainable chemical-grade lithium concentrate.
Sigma Lithium has been at the forefront of environmental and social sustainability i n the EV battery
materials supply chain for six years and it is currently producing Triple Zero Green Lithium from its
Grota do Cirilo Project in Brazil. Phase 1 of the project is expected to produce 270,000 tonnes of Triple
Zero Green Lithium annually (36,700 LCE annually). If it is determined to proceed after completion of
an ongoing feasibility study, Phase 2 & 3 of the project are expected to increase production to 766,000
tonnes annually (or 104,200 LCE annually). The project produces Triple Zero Green Lithium in its state-
of-the-art Greentech lithium plant that uses 100% renewable energy, 100% recycled water and 100%
dry-stacked tailings.
Please refer to the Company’s National Instrument 43 -101 technical report titled "Grota do Cirilo
Lithium Project Araçuaí and Itinga Regions, Minas Gerais, Brazil, Amended and Restated Technical
Report" issued June 12, 2023, which was prepared for Sigma Lithium by Homero Delboni Jr., MAusIMM,
Promon Engenharia; Marc -Antoine Laporte, P.Geo, SGS Canada Inc; Jarrett Qui nn, P.Eng., Primero
Group Americas; Porfirio Cabaleiro Rodriguez, (MEng), FAIG, GE21 Consultoria Mineral; and Noel
O'Brien, B.E., MBA, F AusIMM (the “Updated Technical Report”). The Updated Technical Report 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
Daniel Abdo, Chief Communications Officer
+55 11 2985-0089
Jamie Flegg, Chief Development Officer
+1 (647) 706-1087
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 timing and costs related to the general business and
operational outlook of the Company, the environmental footprint of tailings and positive ecosystem impact relating
thereto, donation and upcycling of tailings, timing and quantities relating to tailings and Green Lithium, achievements
and projections relating to the Zero Tailings st rategy, achievement of ramp -up volumes, production estimates and
the operational status of the Groto do Cirilo Project, 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 may 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; demand 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,
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including whether mineral resources will ever be de veloped 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 market 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 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 expectation s, 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.