Anode Samples sent to major EV manufacturer and to DOE National Lab for independent Testing


Material Exhibits Characteristics Needed for Fast-Charging; Process Achieves High Yield


VANCOUVER, BC, April 26, 2023 - Graphite One Inc. (TSXV: GPH) (OTCQX: GPHOF) ("Graphite One", "G1" or the "Company"), is pleased to announce that it has received the active anode material samples produced from Graphite One's Alaska graphite by Sunrise (Guizhou) New Energy Material Co. Ltd. ("Sunrise"). The sample material and the sample specification data have been provided to the U.S. Department of Energy's Pacific Northwest National Laboratory ("PNNL") for additional testing and sample material has been sent to a leading Electric Vehicle (EV) manufacturer for evaluation.

"This is a milestone moment for Graphite One," said Anthony Huston, founder and CEO. "Being able to provide anode material manufactured from our Graphite Creek feedstock – to both a major EV maker and a U.S. National Lab – is a major step in our strategy to build a 100% U.S.,-based advanced graphite supply chain."

The Company previously announced its agreement with Sunrise to produce the samples 1 and, with PNNL, to independently test the Graphite One anode material.2

Sunrise produced two different active anode material samples from Graphite One's Alaska graphite concentrate:

coated spherical natural graphite
secondary particle natural graphite
A fast-charging artificial graphite anode material sample was also produced for North American EV battery companies. "Natural secondary particle anode is increasingly important in EVs for fast-charge performance," said Andrew Tan, G1's Vice President for Advanced Graphite Materials.

The natural graphite was purified using the advanced fluorine-free purification process as proposed by Graphite One in its Graphite One Project Preliminary Feasibility Study dated October 13, 2022 (the"PFS"). All three samples were produced in Sunrise's commercial scale anode material manufacturing plant. The specific capacity of the first natural graphite sample was 366.4 mAh/g and the second sample was 364.9 mAh/g – both exceeding 98% OR within 2% of graphite's theoretical maximum of 372 mAh/g. The ratio of graphite concentrate input to spherical graphite output was optimized in the spheroidization process, achieving utilization rates greater than the 75% targets assumed in the PFS. "The yield we are seeing exceeds what our industry peers are reporting," Mr. Tan noted.

Portions of all three samples have been sent to PNNL for independent verification. Two samples have been sent to a leading EV manufacturer, while the sample specification data has been sent to other end-users.

Graphite One's 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. The Graphite One project plan includes an advanced graphite material and battery anode manufacturing plant expected to be sited in Washington State integrated with the development of the Graphite Creek Property. The plan includes a recycling facility to reclaim graphite and the other battery materials, to be co-located at the Washington State site, the third link in Graphite One's circular economy strategy.

About Graphite One Inc.
GRAPHITE ONE INC. is developing its Graphite One Project (the "Project") to become an American producer of high-grade anode materials on a commercial scale integrated with a domestic graphite resource. The Project is proposed as a vertically integrated enterprise to mine, process and manufacture anode materials primarily for the lithium–ion electric vehicle battery market. As set forth in the Company's 2022 Pre-Feasibility Study, graphite mineralization mined from the Company's Graphite Creek Property, situated on the Seward Peninsula about 60 kilometers north of Nome, Alaska, would be processed into concentrate at an adjacent processing plant. Natural and artificial 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)

On Twitter @GraphiteOne

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 press release contains forward-looking statements and forward-looking information within the meaning of applicable securities laws. Any statements that are contained in this press release that are not statements of historical fact may be deemed to be forward-looking statements. Forward-looking statements are often identified by terms such as "may", "should", "anticipate", "will", "intends", "expects", "exceeds" and similar expressions which are intended to identify forward-looking information or statements. The Company cautions that all forward-looking statements are inherently uncertain, and that actual performance may be affected by a number of material factors, assumptions and expectations, many of which are beyond the control of the Company. The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company. 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.

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1 https://www.graphiteoneinc.com/graphite-one-year-in-review/


2 https://www.graphiteoneinc.com/graphite-one-announces-testing-agreement-with-u-s-national-laboratory-and-grant-of-long-term-incentive-awards/

SOURCE Graphite One Inc.