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It's very close to the passport control area, which is divided into 3 parts, e-gates for European travellers, e-gates for some non European travellers (e.g. Brazil and Australia) and staffed kiosks, where queues can build up.
The lounge directions are mentioned in the OP but just to expand a bit on it - after entrance security travellers should end up in a large circular space in the Schengen travel area for T1, almost like a large atrium, with shops and cafés on all sides and seating areas in the middle. There is in that area a pair of escalators going upwards and if you look up you can see the ANA and TAP lounges on the upper level going around the circle. There are lifts at the back. Departure gates for the airport's various zones feed off from this atrium, including the passport control area for non Schengen departures. If you have e-gate access then you need to leave the lounge at least 30 minutes before departure, perhaps longer, since it's quite a long walk to some gates.