SIGMA Lithium Resources Corporation (Sigma or the Company) announced the signing of a front-end engineering design contract with Duro Felguera S. A of Spain for the second phase of early contractor involvement for the engineering, procurement and construction of Sigma's Grota do Cirilo lithium project in Brazil. Sigma and DF have received a letter of intent from the Spanish Export Credit Insurance Agency (CESCE) to provide financing for up to 85% of the amount of the FEED Contract. Primero Group of Australia will be the nominated engineering firm in the Contract.

DF and Primero are expected to undertake the work between August 2020 and November 2020. Sigma is currently mobilizing to site geotechnical drilling companies. Sigma anticipates commencing construction of the Project in the fourth quarter of 2020.