Final Set Of High-Grade Graphite Results At Graphite Creek

VANCOUVER - Graphite One Inc. reported the completion of assay results from the summer drilling program, which marked the largest exploration program in the Company's history and put Graphite One on track to accelerate the completion of a compliant Feasibility Study as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Project (NI 43-101). These assays were received following the initial assay results from the 2023 drilling program.  Select drill holes with significant graphite mineralization include: 23GC110 returned 9.40 m of 13.87% Cg from 10.36 m; 23GC127 returned 6.48 m of 19.02% Cg from 47.4 m and 10.14 m of 12.3% Cg from 61.56 m; 23GC115 returned 11.92 m of 7.07% Cg from 53 m; 23GC103 returned 9.90 m of 7.7% Cg from 0.1 m; and 23GC105 returned 6.00 m of 12.54% Cg from 107 m.

"We are pleased with the continued consistency in the quality of the assay results from our 2023 drilling program," said Anthony Huston, President and CEO. "We see these results as another indication that Graphite Creek is a truly generational strategic resource for a world hungry for graphite, and we continue to strengthen our position to deliver a feasibility study in late 2024."

All 52 resource definition holes drilled during the 2023 summer drilling program intersected visual graphite mineralization and continued to demonstrate exceptional consistency of a near-surface, high-grade graphite deposit that remains open east, west and down dip of the existing mineral resource estimate. Last year, the US Geological Survey (USGS), in its report titled "Insights into the Metamorphic History and Origin of Flake Graphite Mineralization at the Graphite Creek Graphite Deposit, Seward Peninsula, Alaska, USA," stated that: "The Graphite Creek graphite deposit, located in the Kigluaik Mountains 60 km north of Nome on the Seward Peninsula, Alaska, is the largest known flake graphite resource in the USA and is among the largest in the world."