Alaska Miner Magazine, Spring 2021

Graphite One continues its development of major project

Graphite One Inc. continues to develop its Graphite Creek Project, whereby the Company could potential- ly become an American producer of high grade Coated Spherical Graphite (“CSG”) that is integrated with a do- mestic graphite resource. The Project is proposed as a vertically integrated en- terprise to mine, process, and manufacture high grade CSG primarily for the lithium-ion electric vehicle bat- tery market. As set forth in the Company’s Preliminary Economic Assessment, 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 40 miles north of Nome. CSG and other value-added graphite products would likely be manufactured from the concentrate at the Com- pany’s proposed graphite product manufacturing facility, the location of which is the subject of further study and analysis. The Company intends to make a production de- cision on the Project once a positive feasibility study is

completed. Graphite One reined in most of its activities in 2020 due to scheduling and financing issues that arose during the global pandemic. Essentially all field programs were put on hold due to travel concerns, especially in the Nome and the villages closest to our project site on the Seward Peninsula. Graphite One’s primary investors faced similar chal- lenges, which interrupted planned financing arrange - ments. The company is seeing more investor optimism in 2021 and completed a successful fund-raise last month that will allow it to complete a prefeasibility study by this summer and finalize plans for a 2021 field program to begin data collection for the geologic, engineering, and environmental information required for a final feasibility study (FS). Graphite One currently expects the FS to be complet- ed in 2022-23. Permitting is expected to take one to two years, after which construction could commence.

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The Alaska Miner

April 2021

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