Graphite One Announces U.S. National Laboratory Will Test Graphite Creek Material for Additional Critical Mineral Recoveries

Sandia's Award-Winning Green Extraction Process Will Isolate and Extract non-Graphite Critical Minerals from Graphite Creek Feedstock

Sandia Program is Graphite One's Second U.S. National Lab Collaboration

VANCOUVER, BC, Jan. 25, 2023 /PRNewswire/ - Graphite One Inc. (TSXV: GPH) (OTCQX: GPHOF) ("Graphite One" or the "Company" or "G1") is pleased to announce its wholly owned subsidiary, Graphite One (Alaska) Inc., has provided material from its Graphite Creek deposit to Sandia National Laboratories in Albuquerque, New Mexico, as part of Sandia's green extraction processing work, conducted under the auspices of Sandia's Climate Change Security Center with a cross-organizational team of technical experts. The project is funded by Sandia's Laboratory Directed Research and Development program.

Sandia's patent-pending process was awarded a prestigious R&D 100 Award, "GOLD Special Recognition in Green Technology for Environmentally Benign Extraction of Critical Metals Using Supercritical CO₂-Based Solvent" in 2021. Sandia's method uses supercritical CO₂ in combination with a food-grade additive to extract rare earths and other critical minerals. Sandia will test Graphite Creek material as a potentially critical mineral-rich carbonaceous feedstock. 

"We are pleased that Sandia will apply its path-breaking process to Graphite Creek material," said Anthony Huston, CEO of Graphite One. "We are excited about the potential for value-added applications which identify flake graphite from Graphite Creek as a unique resource, and Sandia's process will provide us important data on that potential with implications for how we unlock the value of G1's additional critical minerals." 

G1's Second Involvement with U.S. National Labs

The Sandia project follows G1's Material Testing Announcement ("MTA") with Pacific Northwest National Laboratory ("PNNL"). Under the MTA, PNNL will test anode active and other materials to verify conformity to electric vehicle battery specifications. The first materials to be tested will be the anode active materials now being produced as samples by Sunrise New Energy Material Co. Ltd ("Sunrise") using graphite from the Company's Graphite Creek Property in Alaska.  These samples will be sent to the American electric vehicle manufacturers for evaluation as a possible source of battery materials.  Graphite One and Sunrise previously announced their intention to enter into a technology licensing agreement to share expertise and technology for the design, construction, and operation of the Company's planned advanced graphite materials manufacturing facility in Washington State.¹

Graphite One's Domestic Supply Chain Strategy

With the United States currently 100 per cent import dependent for natural graphite, Graphite One is planning to develop a complete U.S.-based, advanced graphite supply chain solution anchored by the Graphite Creek resource near Nome, Alaska. The Graphite One project plan is anticipated to include an advanced graphite material and battery anode manufacturing plant expected to be sited in Washington State. The plan also includes a recycling facility to reclaim graphite and other battery materials, to be co-located at the Washington State site, the third link in Graphite One's circular economy strategy.

As announced on March 7, 2022², Graphite One's Graphite Creek resource in Alaska has been cited as the largest known graphite deposit in the United States by the U.S. Geological Survey in its updated U.S. Mineral Deposit Database.

The USGS report confirms Alaska Governor Mike Dunleavy's statement of support of Graphite One's designation as a U.S. government high priority infrastructure project stating "Graphite Creek is the largest deposit of graphite in the nation and would be a superior domestic supply of this critical mineral.

About Sandia National Laboratory

For more than 70 years, Sandia has delivered essential science and technology to resolve the nation's most challenging security issues.

Sandia National Laboratories is operated and managed by National Technology and Engineering Solutions of Sandia, LLC., a wholly owned subsidiary of Honeywell International, Inc. National Technology and Engineering Solutions of Sandia operates Sandia National Laboratories as a contractor for the U.S. Department of Energy's National Nuclear Security Administration (NNSA) and supports numerous federal, state, and local government agencies, companies, and organizations.

As a Federally Funded Research and Development Center (FFRDC), Sandia may perform work for industry responding to certain types of federal government solicitations. The solicitation must allow FFRDC participation and meet the requirements of Sandia's management and operating contract with DOE/NNSA.

About Graphite One Inc.

GRAPHITE ONE INC. (TSX–V: GPH; OTCQX: GPHOF) continues to develop its Graphite One Project (the "Project"), with the goal of becoming an American producer of high-grade anode materials that is integrated with a domestic graphite resource. The Project is proposed as a vertically integrated enterprise to mine, process and manufacture high grade anode materials primarily for the lithium–ion electric vehicle battery market. As set forth in the Company's 2022 Pre-Feasibility Study, potential graphite mineralization mined from the Company's Graphite Creek Property is expected to be processed into concentrate at a graphite processing plant. The proposed processing plant would be located on the Graphite Creek Property situated on the Seward Peninsula about 60 kilometers north of Nome, Alaska.  Graphite anode materials and other value–added graphite products would be manufactured from the concentrate and other materials at the Company's proposed advanced graphite materials manufacturing facility expected to be located in Washington State.  The Company intends to make a production decision on the Project upon the completion of a Feasibility Study.

On Behalf of the Board of Directors

"Anthony Huston" (signed)

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

This release includes certain statements that may be deemed to be forward-looking statements. All statements in this release, other than statements of historical facts that address the use of proceeds from the Offering, receipt of regulatory approvals, exploration drilling, exploitation activities and events or developments that the Company expects, are forward-looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are no guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include the receipt of all necessary regulatory approvals, market prices, exploitation and exploration successes, continuity of mineralization, uncertainties related to the ability to obtain necessary permits, licenses and title and delays due to third party opposition, changes in government policies regarding mining and natural resource exploration and exploitation, and continued availability of capital and financing, and general economic, market or business conditions. Readers are cautioned not to place undue reliance on this forward-looking information, which is given as of the date it is expressed in this press release, and the Company undertakes no obligation to update publicly or revise any forward-looking information, except as required by applicable securities laws. For more information on the Company, investors should review the Company's continuous disclosure filings that are available at www.sedar.com.

SOURCE Graphite One Inc.