Sigma Announces Management, Board & Technical Committee Updates Ahead of Construction

VANCOUVER, British Columbia, Sept. 25, 2020 (GLOBE NEWSWIRE) -- SIGMA Lithium Resources Corporation ("Sigma" or the "Company") (TSX-V: SGMA) (OTC- QB: SGMLF) would like to announce a management appointment, technical committee appointments and an update on its Board of Directors (the "Board"), in preparation for the upcoming construction of the first phase of its Grota do Cirilo project (the "Project") and the commencement of the environmental licensing process for the second phase of the Project.

MANAGEMENT: APPOINTMENT OF CHIEF SUSTAINABILITY OFFICER

Sigma has appointed Maria Jose Salum to the senior executive role of Chief Sustainability Officer. In that capacity, Maria will oversee Sigma's entire breadth of ESG-centric activities, including not only environmental strategy, regulatory and licensing for the Project, but also community relations and impact investing in the Vale do Jequitinhonha region, as part of the Company's comprehensive social responsibility program.

• Maria is a prominent environmental & social responsibility professional in Brazil. She has held a number of roles during her 40-year remarkable technical career in public service and in the private sector.
• In public service, her roles included Director of Sustainable Development in Mining at the Ministry of Mines and Energy and Senior Representative for the Ministry at the Nacional Council for the Environment (CONAMA). She was also the second woman in 60 years to serve as Deputy Minister of Mining and Mineral Transformation at the Ministry of Mines and Energy.
• Maria has had an active academic career, holding several senior roles at the Federal University of Minas Gerais (UFMG), a centre of excellence for mining and metallurgy research in Brazil, including Head of Department for Mining Engineering. She has a PhD in mineral technology.
• Since retiring from public service in 2018, Maria has worked as a consultant, advising some of the largest global mining companies on environmental matters in Brazil.

"As Sigma moves forward and initiates the environmental licensing process and impact studies for its second phase of production, Maria will have a key role in leading all of these workstreams. Maria as Chief Sustainability Officer was the first of a series of new executive appointments that we plan to make entering into construction phase. Her seniority and experience underscore our commitment to executing an ESG-centric production strategy for Sigma," said Calvyn Gardner, Sigma's CEO and Co-Chairman.

BOARD & TECHNICAL COMMITTEE UPDATES

Sigma has appointed Wes Roberts and Vicente Lobo as the new Co-Chairs of the Company's Technical Committee. They will act as senior advisors to the Board and, in that capacity, will advise and support Calvyn Gardner.

• Vicente has over 30 years of executive operations experience at major Brazilian natural resource companies, serving as COO of Bunge Fertilizantes and COO of Vale Fertilizantes. He has specialized in building and operating mines as well as developing mineral, metallurgical and chemical processing and beneficiation. He started his career as a process engineer at Paulo Abib Engenharia S.A. and also served as board member for the specialty steel engine parts producer Tupy S.A. He is currently a Managing Partner at the mining consultancy firm Lobo Engenharia and advises on technical matters some of the largest mining companies globally.
  
  
• Wes has over 35 years of technical experience in the Canadian mining industry focused on mining operations, project engineering and project management in base metals and industrial minerals. His roles in an executive and advisory capacity include project controls, special projects and project evaluation. He was with Vale-Inco Ltd. from 2001 to 2006 and Heenan Blaikie LLP from 2008-2014 and more recently held various management and consulting roles with mining companies, private equity firms and indigenous organizations. Wes holds an M.Sc. in Mining Engineering from Queen's University.
  

"We are honoured and enthusiastic to welcome two highly technically experienced and accomplished professionals in the Canadian and Brazilian mining industries. Vicente and Wes bring the perfect mix of expertise to Sigma at a critical juncture, when the Company is transitioning from developer to emerging lithium producer on a large scale, planning the construction in back-to-back sequence of the first and second production phases of its Project. As Sigma is currently undergoing detailed engineering and pre-construction activities in preparation to initiate the construction of the first phase of the Project, we believe that Wes and Vicente will be valuable technical resources to support the Company in executing these multiple initiatives," said Calvyn Gardner.

"Both Vicente and Wes have significant alignment of purpose with Sigma's ESG operations, focused on social and community engagement. Wes represents several First Nation communities in Canada, providing them with technical context and advice in the negotiation of their impact benefit agreements with mining companies. Vicente is an advisor to the environmental department of Fundação Gorceix in Brazil, a not for profit that supports training in the mining sector".

Sigma would like to announce certain changes to its Board. Maryse Belanger has resigned as Non-Executive Director and Vice Chairman of the Board to focus on her newly appointed executive position of CEO of the U.S. based exploration and development company Bullfrog Gold Corporation, a portfolio company of Barrick Gold Corporation. Following her departure, Ana Cabral Gardner was appointed as Co-Chairman of the Board, joining Calvyn Gardner, who has become Co-Chairman of the Board.

"On behalf of the Board and the entire team at Sigma, I would like to thank Maryse for her significant contribution and commitment to her role in the Board of Sigma during the last two years, a period during which Sigma has been completely transformed from a mineral development company to an effectively fully funded pre-production emerging global lithium leader. During her tenure, Sigma concluded a feasibility study, and negotiated an EPC FEED agreement," said Calvyn Gardner.

"Moreover, Maryse's stewardship while leading the Board's Management Committee during the pandemic of spring & summer of 2020 was pivotal in enabling the various executive teams working remotely and the personnel located at the mining site to collaborate on a fully integrated manner to deliver the execution of a detailed engineering planning program on a very tight timetable. As a mining venture capital investor, I have personally learned a great deal from Maryse and I am honoured to have served by her side on the Board of Sigma during these two years," added Ana Cabral-Gardner, Chief Strategy Officer and Co-Chairman of the Board.

ABOUT SIGMA LITHIUM

Sigma is a Canadian company and has been producing environmentally sustainable battery-grade lithium concentrate on a pilot scale since 2018 and shipping high-quality above 6% Li2O coarse lithium concentrate samples to potential customers in Asia. Based on the technical report titled "Grota do Cirilo Lithium Project, Araçuaí and Itinga Regions, Minas Gerais, Brazil, National Instrument 43-101 Technical Report on Feasibility Study Final Report", dated October 18 2019 and with an effective date of September 16th, 2019, a larger-scale lithium concentration commercial production plant will contemplate a capacity of 220,000 tonnes annually of battery-grade low-cost lithium concentrate and Sigma will be amongst the lowest-cost producers of lithium concentrate globally.

To secure a leading position supplying the clean mobility and green energy storage value chain, Sigma has adhered to the highest standards of environmental practices in line with its core values and mission since starting activities in 2012. Sigma's production process is powered by hydroelectricity and the Company utilizes state-of-the-art dry-stacking tailings management and water-recycling techniques in its beneficiation process. Its corporate mission is to execute its strategy while embracing strict ESG principles. Sigma's shareholders include some of the largest ESG-focused institutional investors in the world.

FOR ADDITIONAL INFORMATION PLEASE CONTACT

Sigma Lithium Resources Corporation
www.sigmalithiumresources.com

Company Contact:
Anna Hartley
Director of Investor Relations
(London) +44 7866 458 093
[email protected]

FORWARD-LOOKING STATEMENTS

This news release includes certain "forward-looking statements" under applicable Canadian securities legislation including statements relating to the ultimate duration, impact and severity of the COVID-19 pandemic (including its impact on financial markets and national and multinational economies generally, and its impact on the growth of the electric vehicle market and other impacts on the demand for lithium products) and other forward-looking statements. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. All statements that address future plans, activities, events, or developments that the Company believes, expects or anticipates will or may occur are forward-looking information, including statements regarding the potential development of resources and drilling plans which may or may not occur. Forward-looking statements and information contained herein are based on certain factors and assumptions regarding, among other things, the ability to complete the Annual Filings and Interim Filings; the market price of the Company's securities, metal prices, exchange rates, taxation, the estimation, timing and amount of future exploration and development, capital and operating costs, the availability of financing, the receipt of regulatory approvals, environmental risks, title disputes, litigation risks, failure of plant, equipment or processes to operate as anticipated, accidents, labour disputes, claims and limitations on insurance coverage and other risks of the mining industry, changes in national and local government regulation of mining operations, and regulations and other matters including the COVID-19 pandemic. 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 statements. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result 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 expectations, please refer to our public filings available 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.