Management Change/Compensation (Form 8-K)

Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

Compensation of Chief Financial Officer

On June 15, 2026, the Compensation Committee (the "Compensation Committee") of the Board of Directors (the "Board") of Atlas Lithium Corporation (the "Company") recommended, and the Board approved, a compensation increase for Tiago Miranda, the Company's Chief Financial Officer (Principal Financial and Accounting Officer) and Treasurer. In connection with the compensation increase, the Company and Mr. Miranda entered into an Amended and Restated Employment Agreement, dated June 15, 2026, which amends and restates the employment agreement originally entered into between the parties on July 23, 2024, to reflect the compensation increase (the A&R Employment Agreement").

Mr. Miranda's new compensation, effective immediately, includes (i) an annualized base salary of $360,000 (retroactive to May 29, 2026); (ii) a cash bonus opportunity of up to $120,000 each year, which may be earned based on the Company successfully filing certain periodic reports with the Securities and Exchange Commission (the "SEC") on a timely basis; and (iii) the grant of restricted stock units ("RSUs") pursuant to the Company's 2023 Stock Incentive Plan, as amended, with a value of $480,000, which will vest in 25% increments on each of July 23, 2026, 2027, 2028 and 2029. Additionally, Mr. Miranda will be awarded a $20,000 one-time cash bonus.

The foregoing summary description of the A&R Employment Agreement does not purport to be complete and is qualified in its entirety by reference to the text of the A&R Employment Agreement, which is filed as Exhibit 10.1 to this Current Report on Form 8-K and incorporated herein by reference.

Item 8.01. Other Events.

As reported in our most recent Annual Report on Form 10-K filed with the Securities and Exchange Commission on March 4, 2026, on August 28, 2025, N'Golo, a non-governmental organization, filed a civil action in a Brazilian court alleging that the Company had not conducted a consultation with a certain traditional community (the "Community") in connection with the Company's expansion permit application.

On June 9, 2026, a Brazilian judge approved an agreement between the Company and N'Golo (the "Agreement"), which resolved and terminated the civil action. The Agreement acknowledged that the Company had consulted the Community. Under the terms of the Agreement, upon commencement of the Company's lithium concentrate production, the Company has agreed to donate certain items to the Community, including a bulldozer.

Following this resolution, on June 12, 2026, the Company's expansion permit application was formally placed on the agenda for a vote by the permitting commission of the state of Minas Gerais, which is scheduled to take place on June 26, 2026.