Brazil Minerals announces 28-meter lithium-rich drilling intercept

Brazil Minerals, Inc. has announced continued progress in its hard-rock lithium project located in the northern region of the state of Minas Gerais in Brazil. The Company’s project is overseen by two geologists who are “qualified persons” for lithium in the definition of Subpart 1300 of Regulation S-K (“S-K 1300”). The information in this release is an interim update on the resource delineation drilling program and related technical studies currently ongoing at the Neves Area, part of Brazil Minerals’ 100%-owned Minas Gerais Lithium Project which consists of 48 mineral rights spread over 190 km2 (46,659 acres).

The Company has completed 15 drill holes for a total of approximately 1,170 meters (3,384 feet). The most recently completed hole, DHAB15, intercepted 27.9 meters (92 feet) of pegmatite containing crystalline and microcrystalline spodumene.

The Company is awaiting the geochemical assay results from DHAB15. Prior drill holes have confirmed the continuity of grade and thickness of lithium-bearing pegmatites in the Neves Area, including a peak grade of 3.23% Li2O obtained in a section of a drill hole located 23.0 meters (75 feet) from DHAB15.

Brazil Minerals’ Senior VP of Geology, Volodymyr Myadzel, PhD, who is also the Exploration Manager for the Company’s Minas Gerais Lithium Project, commented, “We are very pleased with the progress being made on site, with activity on multiple fronts including the systematic resource delineation diamond drilling for resources. Our latest results continue to show excellent high-grade lithium intersections with continuity of the pegmatites along strike and down dip. We have excellent core quality coming out of the ground. And we anticipate the arrival of a second drill rig at the site during this quarter which will double the drilling capacity.

A technical report for the project is being prepared by SLR Consulting Ltd. (“SLR”), an independent consulting firm that specializes in the mining industry. The technical report will include the results of the first drill holes completed on the Neves Area. Results from DHAB15 and other more recent drill holes will not be included in the upcoming first version of the technical report from SLR but will be added to the next version of the report.

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