Graphite One Advances Its United States Graphite Supply Chain Solution

VANCOUVER - Graphite One Inc. reported the results of its Pre-Feasibility Study of the Graphite One Project. Parallel strategy to simultaneously develop a commercial scale battery anode materials manufacturing facility in Washington State and the Graphite Creek Mine in Alaska. Manufacturing would begin with purchased materials until Alaska production is available. Pre-tax internal rate of return of 26.0%, using an 8% discount rate, with a net present value of $1.93 billion and a payback period of 4.6 years. Post-tax internal rate of return of 22.0%, using an 8% discount rate, with net present value of $1.36 billion and a payback period of 5.1 years, before accounting for tax credits enacted by the U.S. Inflation Reduction Act of 2022, effective December 31, 2022. Measured plus Indicated resources increased 197% over 2019 results. Inferred resources increased 177%.

The Graphite One Project is planned as an integrated business operation to produce lithium ion battery anode materials and other graphite products for the U.S domestic market on a commercial scale using primarily natural graphite from Alaska. The Project combines the operation of an advanced graphite manufacturing facility to be located in Washington State (STP) with the supply of natural flake graphite from the Company's proposed Graphite Creek Mine in Alaska. The resources associated with the Company's Alaska State mining claims were cited by the U.S. Geological Survey in January 2022 as America's largest natural graphite deposit.