Key Highlights

● The Malacacheta estimate totals 24.2 million tonnes at 5.63 percent graphitic carbon, split between Indicated and Inferred categories.

● Indicated resources are 17.2 million tonnes at 5.73 percent, while Inferred resources are 7.0 million tonnes at 5.40 percent.

● A 2026 diamond drilling campaign of 21 holes totaling 2,393.90 metres supplied the data for the estimate.

● The report states there are no mineral reserves on the property and that no feasibility study has been completed.

Atlas Critical Minerals Corp (NASDAQ:ATCX) has filed a technical report summary that sets out the first mineral resource estimate for its Malacacheta Graphite Project in Minas Gerais State, Brazil. The report, prepared by SGS Canada Inc., has an effective date of September 14, 2026 and a report date of September 23, 2026. It was furnished to the U.S. Securities and Exchange Commission in a Form 6-K, signed by Chief Executive Officer Marc Fogassa on September 29, 2026. The estimate totals 24.2 million tonnes at 5.63 percent graphitic carbon.

The Resource Estimate

The resource is split into two confidence categories. The Indicated resource is 17.2 million tonnes at 5.73 percent graphitic carbon, and the Inferred resource is 7.0 million tonnes at 5.40 percent. Combined, that gives the 24.2 million tonnes reported. The estimate uses a cut-off grade of 2.0 percent graphitic carbon and is presented undiluted and in situ, constrained by continuous three-dimensional wireframe models. According to the report, the resources are considered to have reasonable prospects for eventual economic extraction by open-pit mining.

The report explains the two categories in terms of drilling. Indicated resources sit in areas with closer drill spacing and more data points, while Inferred resources lie in less well-defined zones with greater distances between holes. The estimate was made using inverse distance weighting to the second power on one-metre composites, with no capping applied. The report notes that the deposit remains open along strike and at depth.

Project and Drilling

Atlas Critical Minerals owns three exploration permits in the project area totaling 2,821.66 hectares, all granted in 2021. The report says the resource estimate focuses on the permit numbered 830.954/2021, which covers 997.28 hectares, and states that there are no liens and encumbrances associated with the property. The project is in northeast Minas Gerais, about 9 kilometres northwest of Malacacheta and roughly 435 kilometres by road from Belo Horizonte.

The deposit is described as metamorphic flake graphite hosted by graphitic schists in the Macaúbas Group. The report describes graphite bodies arranged along an east-west direction with an inferred lateral continuity of about 2.5 kilometres. A 2026 diamond drilling campaign supplied the data: 21 holes totaling 2,393.90 metres, all HQ diameter core. Reported intersections included 43.10 metres at 6.20 percent graphitic carbon and 39.76 metres at 5.62 percent. Samples were assayed at SGS Geosol in Vespasiano, Brazil, with blanks, duplicates and standards inserted as part of quality control, and the report concludes that the results show acceptable analytical consistency.

Limits Stated in the Report

The filing is careful to say what the estimate is not. Pit optimization was carried out solely to test the reasonable prospects for economic extraction and, in the report's words, does not represent an attempt to estimate mineral reserves. The report states there are no mineral reserves on the property, and that no formal economic analysis, prefeasibility study or feasibility study has been completed. Metallurgical testwork so far has used nine surface samples from a different permit, at the same stratigraphic horizon as the resource, so the report recommends a metallurgical study on the graphitic schist to better understand potential recoveries.

The Qualified Person is Marc-Antoine Laporte, P.Geo., M.Sc., of SGS Geological Services Inc., who inspected the site on May 11 and 12, 2026. The filing includes the consent of SGS Canada Inc. as Exhibit 23.1, and the technical report summary itself is Exhibit 96.1, which is the form of exhibit used for technical report summaries under Item 1300 of Regulation S-K, the SEC's Mining disclosure rules.

Drilling and Metallurgy Next at Malacacheta

The report recommends continued drilling to extend the limits of the deposit and to upgrade Inferred resources to the Indicated category, subject to funding and any other matters that may alter the proposed program. It also recommends the metallurgical study. A budget, timetable or financing for that work is not announced in the 6-K, and no economic study is presented.