Exhibit 96.1

SK-1300 TECHNICAL REPORT SUMMARY

ON THE

ALTO PARANAÍBA PROJECT,

MINAS GERAIS STATE, BRAZIL

Prepared for:

Atlas Critical Minerals Corporation (OTCQB: JUPGF)

Rua Antônio de Albuquerque, 156, Suite 1720, Belo Horizonte,

Minas Gerais, Brazil, 30112-010

Report Date: July 31, 2025

Effective Date: August 13, 2025

Prepared by:

SGS Canada Inc.

SGS Project #19546-02

TABLE OF CONTENTS

LIST OF FIGURES

LIST OF TABLES

SGS was engaged by Atlas Critical Minerals Corporation (OTCQB: JUPGF, “Atlas Critical Minerals”) for the preparation of the independent Technical Report Summary (“TRS”) on the Alto Paranaíba Rare Earth Elements (“REE”) and Titanium Project, located near the city of Patos de Minas, Minas Gerais, Brazil. The purpose of this Technical Report is to support the disclosure of the Alto Paranaíba Exploration Results.

This TRS presents the results of the Property of Merit of the Alto Paranaíba Project (“Alto Paranaíba”). completed for Atlas Critical Minerals Malacacheta Project and is the first TRS for the Project filed with the United States Securities and Exchange Commission (SEC).

The scope of the TRS is to complete a Property of Merit on the Alto Paranaíba Project.

The Alto Paranaíba Project is located in western Minas Gerais State, about 350 km of Belo Horizonte, with access made through the highways BR-262, BR-354 and BR-352, or BR-040 and BR-365. The Project comprises 21 mineral rights permits, totalizing 27,737.56 ha distributed around the cities of Patos de Minas, Presidente Olegário, Carmo do Paranaíba and Tiros.

This TRS was prepared at the request of Atlas Critical Minerals Corporation (formerly Jupiter Gold Corporation), with its principal place of business at Rua Antônio de Albuquerque, 156, Suite 1720, Belo Horizonte, Minas Gerais, Brazil, 30112-010.

Atlas Critical Minerals is a diversified mining company with significant mineral rights in rare earths elements (REEs), titanium, natural graphite, uranium, copper, nickel, iron ore, quartzite, and gold in Brazil.

Currently, Atlas Critical Minerals Corporation common stock is quoted for trading on the OTCQB operated by the OTC Markets Group, Inc. under the symbol “JUPGF.” Atlas Critical Minerals has applied for listing of their common stock on the Nasdaq Capital Market under the symbol “ATCX.”

This TRS conforms to the United States Securities and Exchange Commission’s (SEC) Modernized Property Disclosure Requirements for Mining Registrants as described in Subpart 229.1300 of Regulation S-K, Disclosure by Registrants Engaged in Mining Operations (S-K 1300) and Item 601 (b)(96) Technical Report Summary.

The Alto Paranaíba Project is located in western Minas Gerais State, about 350 km northwest of Belo Horizonte. The Alto Paranaíba Project is located at approximately 18°48’49”S latitude and 46°9’70”W longitude, Universal Transverse Mercator (UTM) coordinates of 378,011 m E and 7,919,398 m N.

The Project can be accessed through the highways BR-262, BR-354 and BR-352, or BR-040 and BR-365. The Project comprises 21 mineral rights permits, totalizing 27,737.56 ha distributed around the cities of Patos de Minas, Presidente Olegário, Carmo do Paranaíba and Tiros.

The project area has been included in some regional mapping campaigns, but there is no record of historical exploration in the area.

There are no historical estimates for the project.

There is no evidence of historical artisanal mining on the property.

The Alto Paranaíba Project location in the Southwest margin of São Francisco Craton exhibit a Cretaceous volcano-sedimentary sequence called Mata da Corda Group. This is the geological sequence of interest and correspond to the top of the Sanfranciscana Basin in the region. The Mata da Corda overlies Cretaceous sandstones of the Areado Group and, sometimes, Neoproterozoic siliciclastic-carbonate rocks of the Bambuí Group (Campos and Dardenne, 1997; Brod et al., 2000) (Figure 6-1).

The volcano sedimentary sequence, up to 150 meters thick, are composed by and association of kamafugiite lavas and volcanoclastic sedimentary rocks, which builds up a plateau, with 2200 km² of regional extension (Takehara, 2015).

The Mata da Corda group is subdivided into Patos Formation, which consists of volcanic rocks with a kamafugite, kimberlite and lamproite affinity (alkaline-ultramafic magmatism – with high P and K), and the Capacete Formation, which contains conglomerates and sandstones, derived from the erosion of the Patos Formation (Campos and Dardenne, 1997).

The magma source is associated with plutonic bodies of Alto Paranaíba Igneous Province, which englobe significant occurrences of alkaline -carbonatitic complex, such as Araxá (Figure 6-2) (Brod et al., 2000; Ruiz et al., 2023).

The Alto Paranaíba Project mining rights include rocks from the Bambuí Group at base level, superimposed by the Areado Group, which underlies the rocks from the Mata da Corda Group, and detritic-lateritic covers (Recent Covers). In most permits, the Areado Group form the basement of Mata da Corda Group, except for some permits in Block 2 South, whereas the basement corresponds to rocks of the Bambuí Group.

The Bambuí Group in the areas is composed by siltstones of the Lagoa Formosa Formation. The Areado Group, considered here as undivided, is represented by sandstones, siltstones and conglomerates.

Mata da Corda has a tabular and flat geometry, with its base occurring at elevations around 940 meters RL, and a thickness ranging from 80 to 110 meters, with extensive lateral continuity. The Patos and Capacete formations occur in the APP areas, sometimes presenting interdigitated contact. Patos Fm. is formed by volcanic rocks (kamafugites) with a variety of textures: aphanitic, porphyritic (with brownish crystals), with amygdales, and sometimes brecciated. Most of the time the volcanic rocks appear highly weathered. The Capacete formation displays clast or matrix supported conglomerates, monomictic or polymictic, and sandstones locally.

The recent cover features ferruginous lateritic crusts, lateritic clays, and residual soils, in this case associated with the rocks of Mata da Corda. It is on average 20 meters thick.

There are three 3 possible types of REE deposits, as are described in “Avaliação do Potêncial de Terras Raras no Brasil”, by Brazil Geological Service. The exact type is not known at the moment.

Since their inception, the mining rights represented by the National Mining Agency (ANM) processes listed below have been owned by companies within the Atlas Economic Group, with no third-party companies prior to Atlas. These areas are available for research applications that give rise to a Research Permit. The processes were filed in 2019 and 2024 by Mineração Apollo Ltda., with some of them transferred to Atlas Lítio Brasil Ltda. in September 2022 and subsequently transferred to Atlas Recursos Minerais Ltda. in January 2025, as part of the Atlas economic group’s corporate and mining asset reorganization. During the research permit period, geological reconnaissance, partial topography, partial geophysic surveys, surface sample collection, geochemistry and auger drilling were carried out to support the preparation of the Partial Research Report (PRR) and the request for an extension of the Research Permit’s validity period.

In the 2024 and 2025 period, Atlas Critical Minerals have done a range of sampling and assaying including surface samples and auger samples. Atlas Critical Minerals have utilized Quality Assurance (QA) and Quality Control (QC) methodologies under the supervision of a qualified person as defined in Regulation S-K 1300.

Atlas supplied the initial database on July 3, 2025, and have updated as results became available.

A total of 24 standards were analysed, Neodymium, Praseodymium, Lanthanum, and Cerium return acceptable values all within 2 standard deviations for OREAS 460, 461, and 463. The returned values for Nd, Pr, La, and Ce in OREAS 465 were above the detection limit of 10,000 ppm (Nd, La, and Ce) and 1,000 ppm (Pr). Dysprosium returned all acceptable values within 3 standard deviations for all four OREAS standards. There may be a possible discrepancy with the Terbium data due to different digestion methods.

A total of 15 Blanks were analysed. The analysis returned acceptable values within 5 times the detection limit for Nd, Dy, and Ce. Possible discrepancies were observed with Pr, La, and Ce.

No property inspection has been completed at this time.

There are no Mineral Resource Estimates on this Project.

Atlas Critical Minerals mineral rights are located near to or adjacent to Resouro Strategic Minerals Inc. (“Resouro”) and/or Equinox Resources Limited (“Equinox”), both of which are listed companies that have publicly disclosed the presence of significant concentrations of REE and titanium in their projects.

Resouro Company released its Maiden Report with 102 drillholes along with 20 previous drillholes (executed by Vicenza and Iluka, in 2011 and 2016). The 1,000-ppm cut-off was applied to resources estimative, which gathered 1.9 billion tonnes at 3,900 ppm TREO (Measured, Indicated, Inferred) with 1,100 ppm of MREO - Pr, Nd, Tb, Dy and 12% of TiO₂. Most of the Resouro’s drill holes show intervals with 7429 - 11200 ppm TREO, some reaching over 11,200 ppm TREO, and 16 – 23% TiO₂, followed by many drillholes with intervals showing TiO₂ grades between 23 and 31%.

In the metallurgical tests phase, Resouro executed three tests so far: the 1st was carried out by Prosper Lab presented positive results for leaching under ammonium sulfate. The 2nd tests were performed by CTDN Lab held different, with negative results. The analytical results of these first two tests were not found. In August 2024, Resouro published analytical results carried out in the laboratory of the British and Australian company Altilium Group Limited. These were leaching tests with nitric acid, showing positive results for REE recovery under different conditions (pH, time, heat). In May 2025, Resouro announced that it was studying ways to transform Anatase (TiO₂) into Rutile and recover REE using sulfuric acid, but did not provide details on analytical and recovery results.

Equinox is operating a drilling campaign in four permits: 833,402/2023, 5 km from Atlas Critical Minerals Block 2; 833,403/2023, (neighbor to Atlas Critical Minerals Permit 832,701/2024); 833,404/2023 and 833,405/2023 (both neighbor to Atlas Critical Minerals Permit 831,645/2024). Equinox plans to announce Maiden Resource Report in 2025.

SGS Geological Services Inc. (“SGS”) was contracted by Atlas Critical Minerals Corporation (“Atlas Critical Minerals” or the “Company”) to complete a Property of Merit for the Alto Paranaíba Rare Earth Elements (“REE”) and Titanium Project near the city of Patos de Minas, Brazil, and to prepare a Public Report in accordance with the §§ 229.601(b)(96) Technical report (subpart 229.1300 of Regulation S-K) written in support of a Property of Merit on the Alto Paranaíba Project.

This TRS conforms to the United States Securities and Exchange Commission’s (SEC) Modernized Property Disclosure Requirements for Mining Registrants as described in Subpart 229.1300 of Regulation S-K, Disclosure by Registrants Engaged in Mining Operations (S-K 1300) and Item 601 (b)(96) Technical Report Summary.

Initial exploration by Atlas Critical Minerals started in 2024, where mineralization was tested through auger drilling and surface samples. Surface samples were collected (589 samples), and preliminary auger core drilling was conducted (5 auger drill holes), providing strong indications of the project’s potential.

Further exploration was undertaken in 2025, which expanded the understanding of the Alto Paranaíba Project’s mineral potential. A new sampling program was completed, with 220 surface samples and 8 auger core drilling.

Initial surface and drilling samples show zones of high grades for rare earths and titanium, and geological mapping has shown high volume potential for such mineralization.

In this first phase will target the development of mineral resources on mineral rights numbers 832,699/2024 and 832,698/2024, which have been designated as Block 1. The planned activities for this block are described below:

Totaling a value of US$ 1,550,000.00 for the resource report definition of both areas.

The second phase will target the development of mineral resources on mineral rights 832,704/2024, 832,703/2024, and 832,702/2024, collectively designated as Block 2. Located in the northernmost portion of the project area, these tenements will undergo the same set of activities previously described, as detailed below:

Totaling a value of US$ 1,861,000.00 for the resource report definition of three areas.

In the final stage of the material property exploration plan, the target will be the development of mineral resources on mineral rights 832,701/2024, 831,645/2024, and 831,643/2024, which are part of Block 2. These tenements are located in the southern portion of the block. The same exploration activities previously described will be implemented in this area, as outlined below:

Totaling a value of US$ 1,746,000.00 for the resource report definition of three areas.

If the outcome of this work is successful, it is recommended to evaluate a plan to generate a scoping study for the project or a similar early-stage economic assessment to guide future development decisions.

SGS was engaged by Atlas Critical Minerals Corporation (OTCQB: JUPGF, “Atlas Critical Minerals”) for the preparation of an independent Technical Report Summary (“TRS”) on the Alto Paranaíba Rare Earth Elements (“REE”) and Titanium Project, located near the city of Patos de Minas, Minas Gerais, Brazil. The purpose of this Technical Report is to support the disclosure of the Alto Paranaíba Exploration Results.

This TRS presents the results of the Property of Merit of the Alto Paranaíba Project (“Alto Paranaíba”). completed for Atlas Critical Minerals Malacacheta Project and is the first TRS for the Project filed with the United States Securities and Exchange Commission (SEC).

The scope of the TRS is to complete a Property of Merit on the Alto Paranaíba Project.

The Alto Paranaíba Project is located in western Minas Gerais State, about 350 km northwest of Belo Horizonte. The Alto Paranaíba Project is located at approximately 18°48’49”S latitude and 46°9’70”W longitude, Universal Transverse Mercator (UTM) coordinates of 378,011 m E and 7,919,398 m N.

The Project can be accessed through the highways BR-262, BR-354 and BR-352, or BR-040 and BR-365. The Project comprises 21 mineral rights permits, totalizing 27,737.56 ha distributed around the cities of Patos de Minas, Presidente Olegário, Carmo do Paranaíba and Tiros.

This TRS was prepared at the request of Atlas Critical Minerals Corporation (formerly Jupiter Gold Corporation), with its principal place of business at Rua Antônio de Albuquerque, 156, Suite 1720, Belo Horizonte, Minas Gerais, Brazil, 30112-010.

Atlas Critical Minerals is a diversified mining company with significant mineral rights in rare earths elements (REEs), titanium, natural graphite, uranium, copper, nickel, iron ore, quartzite, and gold in Brazil.

Currently, Atlas Critical Minerals Corporation common stock is quoted for trading on the OTCQB operated by the OTC Markets Group, Inc. under the symbol “JUPGF.” Atlas Critical Minerals has applied for listing of their common stock on the Nasdaq Capital Market under the symbol “ATCX.”

SGS Geological Services Inc. (“SGS”) was contracted by Atlas Critical Minerals Corporation (“Atlas Critical Minerals” or the “Company”) to complete a Property of Merit for the Alto Paranaíba Rare Earth Elements (“REE”) and Titanium Project near the city of Patos de Minas, Brazil, and to prepare a Public Report in accordance with the §§ 229.601(b)(96) Technical report (subpart 229.1300 of Regulation S-K) written in support of a Property of Merit on the Alto Paranaíba Project.

This TRS conforms to the United States Securities and Exchange Commission’s (SEC) Modernized Property Disclosure Requirements for Mining Registrants as described in Subpart 229.1300 of Regulation S-K, Disclosure by Registrants Engaged in Mining Operations (S-K 1300) and Item 601 (b)(96) Technical Report Summary.

The purpose of this Technical Report is to support the disclosure of the Alto Paranaíba Exploration Results.

SGS Canada Inc. (“SGS”) was commissioned by Atlas Critical Minerals to prepare this TRS. In preparing this report, SGS relied upon input from Atlas Critical Minerals.

Section 24 includes the reference documents that are part of the sources of information used in the preparation of this TRS.

SGS is an independent company and is not associate or affiliate of Atlas Critical Minerals or any associated company of Atlas Critical Minerals.

This TRS was prepared by SGS, and communication with Atlas Critical Minerals sources was conducted through the following list of personnel:

No property inspection has been completed at this time.

There have been no previous reports filed on this property.

All units of measurement used in this technical report are International System of Units (SI) or metric, except for Imperial units that are commonly used in industry (e.g., ounces (oz.) and pounds (lb.) for the mass of precious and base metals). All currency is in US dollars, unless otherwise noted. Frequently used abbreviations and acronyms can be found in Table 2-1.

Table 2-1 List of Abbreviations

TREO, MREO, HREO, and LREO formulas:

The Alto Paranaíba Project is located in the western region of the Minas Gerais state, Brazil, near the municipalities of Carmo do Paranaíba, Lagoa Formosa, Patos de Minas, Presidente Olegário, and Tiros, approximately 350 km from Belo Horizonte. The Alto Paranaíba Project is located at approximately 18°48’49”S latitude and 46°9’70”W longitude, Universal Transverse Mercator (UTM) zone 23S, coordinates of 378,011 m E and 7,919,398 m N.

The name “Alto Paranaíba” refers to the Paranaíba River that flows in the region.

Figure 3-1 shows the location of the Alto Paranaíba Project.

Figure 3-1 Location of the Alto Paranaíba Project

The legal framework for the development and use of mineral resources in Brazil was established by the Brazilian Federal Constitution, which was enacted on October 5, 1988 (the Brazilian Constitution) and the Brazilian mining code, which was enacted on January 29, 1940 (Decree-law 1985/40, later modified by Decree-law 227, of February 29, 1967, the Brazilian Mining Code).

According to the Brazilian Constitution, all mineral resources in Brazil are the property of the Federal Government. The Brazilian Constitution also guarantees mining companies the full property of the mineral products that are mined under their respective concessions. Mineral rights come under the jurisdiction of the Federal Government and mining legislation is enacted at the Federal level only. To apply for and acquire mineral rights, a company must be incorporated under Brazilian law, have its management domiciled within Brazil, and its head office and administration in Brazil.

In general, there are no restrictions on foreign investment in the Brazilian mining industry, except for mining companies that operate, or hold mineral rights within a 150 km wide strip of land parallel to the Brazilian terrestrial borders. In this instance the equity interests of such companies have to be majority Brazilian-owned. Exploration and mining activities in the border zone are regulated by the Brazilian Mining Code and supporting legislation.

The Alto Paranaíba Project consists of 21 mineral rights, in which 20 are in permit status and 1 is under Agência Nacional de Mineração – Brazilian National Mining Agency (“ANM”) analysis (831,450/2024), covering an area of 27,737.56 Ha. Figure 3-2 shows the location of the project minerals rights in relation to nearby towns of Patos de Minas, Carmo do Paranaíba and Tiros. The tenure holdings are summarized in Table 3-1 and the location is shown in Figure 3-2.

Figure 3-2 Alto Paranaíba Mineral Rights Map with ANM Referred Status

Table 3-1 Alto Paranaíba Mineral Rights Description (Relation between Atlas Mineral Rights and ANM Status)

Under Brazilian law, foreign companies may acquire surface rights as long as the share capital is controlled by Brazilians. However, the holder of an exploration license is guaranteed by law access to conduct exploration field work, provided that adequate compensation is paid to third-party landowners, and that the holder of the exploration license assumes all environmental responsibilities arising from the exploration work.

After the exploration license is granted by the Brazilian government, Atlas negotiates and obtains the necessary authorizations for access to the properties for research and exploration activities, with the exercise of mining activity guaranteed by the Brazilian Federal Constitution.

Atlas is responsible for the reclamation of areas used for drilling, safety of personnel in the work area, monetary compensation to the landowner for surface damage caused by mineral exploration activities, and all environmental liabilities resultant from exploration activities.

On December 18, 2024, Atlas Critical Minerals Corporation (“Atlas Critical Minerals”) entered into an Option Agreement (“Option”) with Atlas Lithium Corporation (“Atlas Lithium”), pursuant to which Atlas Critical Minerals purchased an option to acquire 100% of Brazil Minerals Resources Corporation (“BMR”), a subsidiary of Atlas Lithium. BMR owns 100% of Atlas Recursos Minerais Ltda which holds certain mineral rights in Brazil which are of interest to Atlas Critical Minerals. The Option therefore grants Atlas Critical Minerals the opportunity to have ownership of such mineral rights in the future, should it choose to exercise the Option.

The QP has not reviewed the mineral tenure, nor independently verified the legal status, ownership of the Project area, underlying property agreements or permits. The QP has fully relied upon, and disclaims responsibility for, information supplied to them by Atlas Critical Minerals.

The Alto Paranaíba Project is located in western Minas Gerais State, about 350 km of Belo Horizonte, with access made through the highways BR-262, BR-354 and BR-352, or BR-040 and BR-365. The Project comprises 21 mineral rights permits, totalizing 27,737.56 ha distributed around the cities of Patos de Minas, Presidente Olegário, Carmo do Paranaíba and Tiros.

The distance between the properties and urban centers, like Patos de Minas and Carmo do Paranaíba cities, vary between 7 to 30 km. The access is through highways and smaller, unpaved roads.

The Tropical Climate of Central Brazil (IBGE 2002) is the regional climate in APP region, exhibiting temperatures higher than 18°C during most of the year, while average yearly precipitation range from 1,000 and 1,500 mm (Reis, 2011), with two well defined annual seasons: a rainy summer (December to February) and dry winter (July to august). Hence, the average monthly precipitation can vary from a few millimeters to more than 200 mm in summer (Siqueira et al. 2007), setting a humid to semi-humid climate.

This climate doesn’t undermine the operation, which can occur all year long.

The distance between the properties and urban centers, like Patos de Minas and Carmo do Paranaíba cities, vary between 7 to 30 km. The access is through highways and smaller, unpaved roads.

The project is located near the cities of Patos de Minas (population: 159,235, according to a 2022 census), Carmo do Paranaíba (population: 29,011 according to a 2022 census) and Tiros (population: 6,424 according to a 2020 estimate).

The economic activities are mainly agriculture, services, light industry, and livestock raising.

Analytical and drilling services would be contracted in the metropolitan region of Belo Horizonte. Skilled and semi-skilled labor is available in the region to support exploration activities.

The region hosts well-structured cities with robust capacities for electricity and water supply, all of which are easily accessible.

The property is located within the northern sub-basin of the Paranaíba River basin.

The Alto Paranaíba Project region includes three geomorphological domains that comprise the Mata da Corda Group: Plateaus, slopes and hills.

The Plateau domain is represented by extensive plateaus with abrupt edges, elongated in N-S strike, with topography varying between 1,000 and 1,150 m. They are, in general, plane, horizontal surface with gentle slopes (<10°). The topographic heights are frequently covered by a ferruginous duricrust, with thickness of 10 m. These covers are composed of weathered volcanic fragments with additional subrounded and subangulous quartz, cemented by limonite or goethite (Sgarbi,1989).

The second domain is composed of slopes, with hilltop plain to convex, with medium inclination, in which connects plateau with gentle hills that compose the third domain. The slopes topography varies between 900 to 1000 m, with eroded ravines and dissections. Geologically, this geomorphological domain corresponds to Areado Group lithotypes, mostly sandstones (Uhlein et al, 2011).

The third domain occurs in a lower topographic level, between 800 and 900m. Is composed by hills with waved tops, a concave-convex profile and excavated valleys, with Bambui Group rocks (diamictites and siltstones) (Uhlein et al, 2011).

Savannahs are the main type of vegetation, exhibiting Fields and forests (“cerradão”) and gallery forest in the rivers and waterways. In smooth slopes the original vegetation was removed, giving space for mechanical agriculture. In a similar way, the plateaus are covered with extensive coffee, corn and bean plantations (Uhlein et al, 2011 and Fragoso et al, 2011).

Since their inception, the mining rights represented by the National Mining Agency (ANM) processes listed below have been owned by companies within the Atlas Economic Group, with no third-party companies prior to Atlas. These areas are available for research applications that give rise to a Research Permit. The processes were filed in 2019 and 2024 by Mineração Apollo Ltda., with some of them transferred to Atlas Lítio Brasil Ltda. in September 2022 and subsequently transferred to Atlas Recursos Minerais Ltda. in January 2025, as part of the Atlas economic group’s corporate and mining asset reorganization. During the research permit period, geological reconnaissance, partial topography, partial geophysic surveys, surface sample collection, geochemistry and auger drilling were carried out to support the preparation of the Partial Research Report (PRR) and the request for an extension of the Research Permit’s validity period.

Table 5-1 History for 831,275/2019 – 831,276/2019 – 831,277/2019 – 831,278/2019

Table 5-2 History for 831,279/2019

Table 5-3 History for 831,073/2024 – 831,074/2024

Table 5-4 History for 831,350/2024

Table 5-5 History for 831,450 /2024

Table 5-6 History for 831,451/2024

Table 5-7 History for 831,643/2024 – 831,644/2024 – 831,645/2024

ANM processes No. 831,271/2021 and 831,268/2021 are Research Requests made on behalf of Mineração Apollo Ltda. resulting from the public auction promoted by the National Mining Agency (ANM) that took place in 2021. Process 831,271/2021 requested by Mineração Apollo Ltda. was later transferred to Atlas Lítio Brasil Ltda. in September 2022 and subsequently transferred to Atlas Recursos Minerais in January 2025, as per the corporate and mining assets reorganization of the Atlas economic group.

Table 5-8 History for 831,271/2021

Table 5-9 History for 831,268/2021

ANM processes no. 832,698/2024, 832,699/2024, 832,701/2024, 832,702/2024, 832,703/2024 and 832,703/2024 are Research Requests made on behalf of Mineração Apollo Ltda. resulting from the purchase in a public auction promoted by the National Mining Agency (ANM) that took place in 2024.

Table 5-10 History for 832,698/2024 – 832,699/2024 – 832,701/2024 – 832,702/2024 – 832,703/2024 – 832,704/2024

There are no historical technical reports for the project.

There are no historical estimates for the project.

There is no evidence of historical artisanal mining on the property.

The Alto Paranaíba Project location in the Southwest margin of São Francisco Craton exhibit a Cretaceous volcano-sedimentary sequence called Mata da Corda Group. This is the geological sequence of interest and correspond to the top of the Sanfranciscana Basin in the region. The Mata da Corda overlies Cretaceous sandstones of the Areado Group and, sometimes, Neoproterozoic siliciclastic-carbonate rocks of the Bambuí Group (Campos and Dardenne, 1997; Brod et al., 2000) (Figure 6-1).

The volcano sedimentary sequence, up to 150 meters thick, are composed by and association of kamafugite lavas and volcanoclastic sedimentary rocks, which builds up a plateau, with 2200 km² of regional extension (Takehara, 2015).

The Mata da Corda group is subdivided into Patos Formation, which consists of volcanic rocks with a kamafugite, kimberlite and lamproite affinity (alkaline-ultramafic magmatism – with high P and K), and the Capacete Formation, which contains conglomerates and sandstones, derived from the erosion of the Patos Formation (Campos and Dardenne, 1997).

The magma source is associated with plutonic bodies of Alto Paranaíba Igneous Province, which englobe significant occurrences of alkaline -carbonatitic complex, such as Araxá (Figure 6-2) (Brod et al., 2000; Ruiz et al., 2023).

Figure 6-1 Geological Features of the Project’s Unit of Interest, in black named after “Sanfranciscan Basin”

Source: Brod et al., 2000.

Figure 6-2 Region of Interest Geological Map (occurrences in green) correlating to Alcaline-Carbonatitic Complexes of Alto Paranaíba Igneous Province (Araxá, Salitre, Serra Negra and Catalão) (left) and Statigraphic Sequence of Sanfranciscana Basin, with Mata da Corda Group in the red rectangle, on top (right)

Left: Region of interest geological map (occurrences in green) correlating to alkaline-carbonatitic complexes of Alto Paranaíba Igneous Province (Araxá, Salitre, Serra Negra and Catalão). Source: Ruiz et al., 2023.

Right: Stratigraphic sequence of Sanfranciscana Basin, with Mata da Corda Group in the red rectangle, on top. Source: Serdoko et al. 2020.

The Alto Paranaíba Project mining rights include rocks from the Bambuí Group at base level, superimposed by the Areado Group, which underlies the rocks from the Mata da Corda Group, and detritic-lateritic covers (Recent Covers). In most permits, the Areado Group form the basement of Mata da Corda Group, except for some permits in Block 2 South, whereas the basement corresponds to rocks of the Bambuí Group.

The Bambuí Group in the areas is composed by siltstones of the Lagoa Formosa Formation. The Areado Group, considered here as undivided, is represented by sandstones, siltstones and conglomerates.

Mata da Corda has a tabular and flat geometry, with its base occurring at elevations around 940 meters RL, and a thickness ranging from 80 to 110 meters, with extensive lateral continuity. The Patos and Capacete formations occur in the APP areas, sometimes presenting interdigitated contact. Patos Fm. is formed by volcanic rocks (kamafugites) with a variety of textures: aphanitic, porphyritic (with brownish crystals), with amygdales, and sometimes brecciated. Most of the time the volcanic rocks appear highly weathered. The Capacete formation displays clast or matrix supported conglomerates, monomictic or polymictic, and sandstones locally.

The recent cover features ferruginous lateritic crusts, lateritic clays, and residual soils, in this case associated with the rocks of Mata da Corda. It is on average 20 meters thick.

There are three 3 possible types of REE deposits, as are described in “Avaliação do Potêncial de Terras Raras no Brasil”, by Brazil Geological Service. The exact type is not known at the time of writing this report.

The Atlas Critical Minerals geology team executed the following activities in 2024 and 2025, in order of execution and for each area:

Table 7-1 presents the activities control in each of the permits. The extensive Project area has been divided into three exploration blocks for ease of exploration activities as shown in Figure 7-1.

Table 7-1 Alto Paranaíba Permit Relation per Activity

Figure 7-1 Alto Paranaíba Exploration Blocks

The preparation for the fieldwork included geophysical analysis of regional geophysics (Figure 7-2 and Figure 7-3), along with the investigation about geology in competitors areas and the subsequent confirmation of geological occurrences on the field is useful as guide for delimitation of geological bodies. Some drilling is recommended to test these targets for mineralization.

Figure 7-2 Magnetometry: Analytic Signal (left) and Vertical Derivative (right)

Data source: CPRM Geophysics Public Data

Figure 7-3 Gamma Spectrometry K U Th (left) and Total Mag (right)

Data source: CPRM Geophysics Public Data

For exploration purposes, Atlas Critical Minerals 21 mineral rights have been divided into three blocks: (i) Block 1 – Carmo do Paranaíba; (ii) Block 2 – Patos de Minas; and (iii) Block 3 (Figure 7-1).

The Author used the database delivered by the client to estimate the followings statistics. High graded Total Rare Earths Oxides (“TREO”) and titanium dioxide (“TiO₂”) samples resulted from an extensive sampling campaign (Figure 7-4), with so far 809 samples of soil, conglomerate, volcanic rocks, sandstones, mudstones and lateritic cover. Of the 809 samples analyzed, 608 samples are >1,000 ppm of TREO, in which 121 samples are >3,000 ppm TREO and 114 samples are >700 ppm Magnetic Rare Earths Oxides (“MREO”). Of all samples, 205 samples resulted in >10% of TiO₂ and 27 samples >15% TiO₂.

The best results obtained were from Block 3 (TREO>10,000 ppm, for example). The best sample for Block 1 resulted in 5,984 ppm TREO (sample APPPA00152), and for Block 2 up to 7,091 ppm TREO (SPJ-00086). The Blocks 1 and 2 present similar results when comparing the grades average, for TREO, TiO₂ and MREO, but Block 1 still presents slightly higher averages (Table 7-2). The data in Table 7-2 have been compiled by the Author from the database delivered by the client.

Table 7-2 Average of Grades for Block 1 and 2

Samples from Blocks 1 and 2 are in a fair spatial distribution along the Mata da Corda Group occurrence inside the permits, indicating good horizontal continuity of the mineralization. The samples reflect in the availability of outcrops, with most of their occurrences in slope regions and roads, and little exposure and low grades on top of the plateaus.

Block 2 South grades go up to 7091 ppm of TREO in a conglomerate sample of Capacete Formation, indicating a high-grade layer about 1030 to 1040 meters. Grades about >3000 ppm from samples in base level indicate Mata da Corda’s mineralized interval up to 190 m thick.

Figure 7-4 Best Sampling Grades (>1500ppm TREO) of Surface Samples

The Block 1 areas (832,698/2024 and 832,690/2024) have wide and thick (~110 metres) occurrence of Mata da Corda Group (Figure 7-5 and Figure 7-6). The Mata da Corda Group outcrops at the base level of 945 meters until 1050 meters, with a lateritic cover that overlies all Formation from base level 1050 m to 1100 m (Stratigraphic column 1). The volcanic rocks are magnetic, with aphanitic texture, locally with vesicles. Volcanic breccia occurs associated. The Capacete conglomerate is strongly magnetic, polymictic and varies from matrix to clast supported. The matrix is composed of mud and sometimes sand, colored from red to green. (Figure 7-7).

Figure 7-5 Geology of Block 1, with Stratigraphic Columns and Best TREO Grades (>1500 ppm)

Figure 7-6 Stratigraphic Columns 1 – Block 1, with Evidence of Thick Layers of Conglomerate of Capacete Formation and Patos Formation

Figure 7-7 Stratigraphic Columns and Geological Map with Best MREO Grades for Block 1 (>500 ppm MREO)

Figure 7-8 Conglomerates of Capacete Formation in Block 1, Matrix Supported (top) and Clast Supported (bottom)

In Block 2 permits the Mata da Corda Group outcrops in wide extension of the area (Figure 7-9) and with thickness up to 80 metres, outcropping from 940 until 1020 meters RL, with Capacete Fm. Conglomerate layers up to 25 meters thick and volcanic layers of Patos Fm. (Stratigraphic columns 2). The lateritic cover (soil/clay + ferric crust) in Block 2 is up to 50 metres. The conglomerate can locally display clasts imbrication, granulometric gradation and clasts with preserved igneous textures (exe.: porphyritic).

Patos Fm. display a variety of textures: aphanitic, porphyritic (with brownish crystals) and with vesicles filled by white clays, and sometimes brecciated. Most of the time the volcanic rocks appear highly weathered, becoming a clayish material. The magnetic response is moderate for the volcanic rocks, as for the conglomerates, its strong magnetism helps to distinguish the sedimentary products. The conglomerates are clast supported, monomictic to polymictic, with matrix composed of greenish clay to beige. The clasts are mainly composed of green volcanic rocks and few brownish and red minerals (Figure 7-10).

The sampling campaign proved high grades of TREO and TiO₂ widely distributed laterally and vertically along the Mata da Corda Group. The MREO results are also very promising.

Figure 7-9 Geology of Block 2, with Stratigraphic Columns and Best TREO Grades (>1500 ppm)

Figure 7-10 Stratigraphic Columns 2 – Block 2, with Evidence of Interdigitated Conglomerate of Capacete Formation and Volcanic Rocks of Patos Formation

Figure 7-11 Geology and Best MREO Grades for Block 2 (>500 ppm MREO)

Figure 7-12 Conglomerates of Capacete Formation in Block 2, Clast-Supported and Matrix Supported

Figure 7-13 Volcanic Rocks with Afanitic Texture and Green to Purple Matrix with Vesicles Filled with White Clays. Probably of Kamafugitic Signature

Block 2 south includes areas with good exposure of Mata da Corda Group, both conglomerates of Capacete Formation and volcanic rocks of Patos Formation. The detailed mapping allowed to confirm and expand the Mata da Corda volumes in the area, due to the decrease of the baselevel to 900 meters, turning the thickness of Mata da Corda Group in the areas bigger than previously though from regional baselevel. Two areas (Permits 831644/2024 and 831643/2024) are all covered by Mata da Corda Group, with respectively 376,7 and 139,51 ha.

Figure 7-14 presents the geology and TREO grades for Block 2 South Areas, Figure 7-15 presents the geology, TREO results and stratigraphic column of Pindaíbas permit (832,701/2024), right next to Equinox project permit, and Figure 7-16 presents the geology, TREO Results for Lagoa Formosa Permit (831,645/2024).

Figure 7-17 and Figure 7-18 show the permits 831,643/2024 and 831,643/2024. No sampling results were available at the effective date of the current Report.

Figure 7-14 Geology and TREO Grades for Block 2 South Areas

Figure 7-15 Geology, TREO Results and Stratigraphic Column of Pindaíbas Permit (832,701/2024), Right Next to Equinox Project Permit

Figure 7-16 Geology, TREO Results for Lagoa Formosa Permit (831,645/2024)

Figure 7-17 Geology of Permit 831,643/2024

Figure 7-18 Geology of Permit 831,644/2024

Figure 7-19 Rock types of Mata da Corda Group in Block 3, Green Conglomerate (left), Red Volcanic Rock (top right) and Conglomerate Hand Sample (bottom right)

Block 3 display the highest TREO grades, as >10,000 ppm TREO and up to 28,000 ppm, but the Mata da Corda body dimensions are restricted to the highest topographic levels, above 960 meters (Figure 7-20).

At some spots is possible to identify magnetic sandstones with high grades of TREO, as in permit 831,268/2021 – Northwest Block 3. Probably these grades above 960 meters baselevel can relate to intrusion mechanisms or sedimentary/volcanic interactions.

Figure 7-20 Geology and Best Grades of TREO for Block 3 North

Figure 7-21 Geology and Best Grades of TREO for Block 3 South

The geological mapping of the permits 831,277/2019 and 831,278/2019 confirmed the base level of Mata da Corda Group in 960 meters, where Capacete Formation is predominant, with its matrix and clast supported conglomerates Between December and January 2025, five auger drillholes were executed in these two permits (Figure 7-20). All the drillholes intercepted mineralized conglomerated from Capacete Formation highly weathered. Interesting intercepts demonstrated the Mata da Corda Group potential:

It is possible to outline a high-grade interval, shown in Figure 7-22. The two permits display a potential for hosting 40 Mt of Mata da Corda rocks.

Figure 7-22 Geological Map of Permits 831,277 and 831,278 with DHs Location (left) and Photograph of DHTI-001 Displaying Weathered Matrix Supported Conglomerate (right)

Figure 7-23 Cross-Section of DH’s DHT-001, DHT-002 and DHT-003, with High Grade Intervals

Five Auger drillholes were executed between October 2024 to January 2025, totalizing 61.54 m. The drillhole material were described and sampled according to standard procedures for Rare Earth Elements and Titanium. Sampling was executed including QA/QC sample controls, patterns and blanks. Drilling was carried out in the following permits:

Eight Auger drillholes were executed between April and May 2025, totalizing 82.3 m. The drillhole material were described and sampled according to standard procedures for Rare Earth Elements and Titanium. Sampling was executed including QA/QC sample controls, patterns and blanks. Drilling was carried out in the following permits:

Figure 7-24 Drillholes (red triangles) in Alto Paranaíba Project Permits

One-meter samples were prepared for the Mata da Corda group intervals, totaling 76 routine samples.

The chemical analysis presented in this report refers to the Global grade analysis. The mineralogy test results were expected for July 25 but were not available for the preparation of this report.

The global grades were positive for TREO (average of 2657 ppm) and TiO₂ (average of 11.4%). The highest TREO grade was the sample CA-00009, with 5,529 ppm TREO (from DHCA00001, Block 1) and TiO₂ 21.2% for sample CA-00023 (from drillhole DHCA00002, also in Block 1). Block 1 scored the highest grades in terms of HREO, LREO, MREO, TREO and TiO₂ (Table 7-3).

Table 7-3 Averages for the Different Prospects

All drillholes in permit 832,699/2024 intercepted Mata da Corda Group, with occurrence of “Capacete and Patos” Formation. The intercept highlights are:

Table 7-4 Grades for the Block 1 Samples. KAM: Kamafugite. Con: Conglomerate. CGA: Lateritic

Figure 7-25 Drillhole sections for Auger DH’s in Block 1

All drillholes in Permit 832,703/2024, intercepted Mata da Corda Group, with occurrence of Capacete and Patos Formation. The intercept highlights are:

Table 7-5 Grades for the Block 2 Routine Samples. KAM: Kamafugite. Con: Conglomerate. CGA: Lateritic

Figure 7-26 Drillhole Sections for Auger DH’s in Block 2 (832,703/2024)

Block 2 South (Lagoa Formosa permit – 831,645/2024)

Table 7-6 Grades for the Block 2 South Routine Samples. KAM: Kamafugite. Con: Conglomerate. CGA: Lateritic. SHL: Shale of Areado Group