Graphite One Appoints Award-Winning Geological Engineer and Operator Mike Schaffner as Senior Vice President, Mining

Schaffner to Oversee the 2022 G1 Drill Program and Feasibility Study Field Season
PFS nearing completion in Q2 2022

VANCOUVER, BC, June 1, 2022 /PRNewswire/ – Graphite One Inc. (TSXV: GPH) (OTCQX: GPHOF) (“Graphite One”, “G1” or the “Company”), developing a comprehensive U.S. national supply chain for advanced graphite materials, is pleased to announce the appointment of a mining industry veteran Mike Schaffner as Senior Vice President, Mining for the company’s wholly-owned Alaska subsidiary, Graphite One (Alaska) Inc., effective July 1, 2022.

Prior to joining G1, Mr. Schaffner worked at Ambler Mining, where he oversaw engineering work for the Arctic prefeasibility study and managed the metallurgical testwork program for the company’s drilling program. . He joined Ambler after 15 years at Newmont Mining, progressing through positions of increasing responsibility to the level of General Manager at the Carlin Gold Mine, Cripple Creek and Victor Minesmanage operating budgets in excess of $750 million and a workforce of 1,200 employees. Mr. Schaffner began his mining career with Echo Bay Mining and Coeur Mining in operations at Nevada.

Mr. Schaffner’s operations are a three-time winner of the National Mining Association’s Sentinels of Safety Award, which recognizes the safest mines in the United States for continuous injury-free operations. He holds two patents related to heap leaching by bio-oxidation. He received his bachelor’s degree in geological engineering from the Montana College of Mineral Science and Technology.

“G1 will greatly benefit from Mike’s long experience of superior performance in mining operations,” said Anthony Huston, CEO of Graphite One. “Mike’s hallmark has been operational excellence, while maintaining a strong working relationship within local communities and regulators. He is the right addition to our team as we move to the next level.”

“I am excited to join the Graphite One team as the company enters its next phase of development,” said Mr. Schaffner. “I have been involved at every stage of the development process, from concept, to start-up, to operation and closure. I am ready to help the team realize G1’s enormous potential to become the first graphite mining in the United States since 1990.”

The Company also announces that Stan FooCOO of Graphite One (Alaska) Inc., will retire effective July, 1st2022. “The Board sincerely thanks Stan for his dedication to Graphite One,” said Doug Smith, Executive Chairman of Graphite One. “His wise counsel – and in particular his commitment to making Graphite One a good neighbor to our local communities – is a testament to his leadership over the past four years. We wish him the best in his well-deserved retirement.”

Graphite One Supply Chain Strategy

With United States currently 100% dependent on natural graphite imports, Graphite One provides a complete advanced graphite supply chain solution based in the United States. The Graphite One project plan includes a manufacturing plant for advanced graphite materials and battery anodes which is expected to be located at washington state and anchored by the development of the Graphite Creek resource near Nome, Alaska. Also included is the third link in Graphite One’s circular economy strategy – a recycling facility to recover graphite and other battery materials, which will be co-located at the washington state to place.

As announced on March 7e 1Graphite One Inc.’s Graphite Creek resource in Alaska was cited as the largest known graphite deposit in the United States by the US Geological Survey (USGS) in its US Mineral Deposit Database (USMIN) update.

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

About Graphite One Inc.

GRAPHITE ONE INC. (GPH: TSX–V; GPHOF: OTCQB) continues to develop its Graphite One project (the “Project”), where the Company could potentially become a U.S. producer of high-quality anode materials integrated with domestic graphite Resource. The project is proposed as a vertically integrated venture to mine, process and manufacture high quality anode materials primarily for the lithium-ion electric vehicle battery market. As outlined 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 located on the Seward Peninsula about 60 kilometers north of Last name, Alaska. Graphite anodes and other value-added graphite products would be fabricated from the concentrate and other materials at the Company’s proposed state-of-the-art graphite materials manufacturing facility, the location of which is subject to more in-depth studies and analyses. The Company intends to make a production decision on the project once a feasibility study is completed.

On behalf of the Board of Directors

“Anthony Huston” (signed)

For more information about Graphite One Inc., please visit the company’s website, www.GraphiteOneInc.com.

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.

All statements contained in this release, other than statements of historical facts, including those relating to the timing and completion of the planned preliminary feasibility study, future production, establishment of a graphite processing and manufacturing facility, establishment of a battery materials recycling facility, and events or developments that the Company intends, expects, plans or proposes are forward-looking statementsinformation in search can be identified by the use ofsearching for terminology such as “proposes”, “expects”, “is planned”, “planned”, “estimates”, “projects”, “plans”, “plans”, “intends to “, “assumes”, “believes”, “indicates”, “is” or variations of these words and expressions which indicate that certain actions, events or results “may”, “could”, “would”, “could” or “will be taken”, “will occur” or “be achieved”. The Company cautions that there is no certainty that testing of the Company’s materials will be successful or that such testing will result in the development of successful products. Although the Company believes that the expectations expressed in these forward-looking statements are based on reasonable assumptions, these statements are not guarantees of future performance and actual results or developments may differ materially from those contained in the forward-looking statements. Factors that could cause actual results to differ materially from those in the forward-looking statements include market prices, mining and exploration success, continuity of mineralization, uncertainties relating to the ability to obtain necessary permits, licenses and titles and delays due to opposition from third parties, changes in government policies regarding mining and natural resource exploration and development, and the continued availability of capital and financing, and the terms general principles of economics, the market or business. Readers are cautioned not to place undue reliance on such forward-looking information, which is given as of the date it is expressed in this press release, and the Company undertakes no obligation to publicly update or revise the information. prospective, unless necessary. by applicable securities laws. For further information on the Company, investors should consult the Company’s continuous disclosure documents available at www.sedar.com.

1 https://www.graphiteoneinc.com/us-government-cites-graphite-ones-graphite-creek-as-the-largest-graphite-deposit-in-the-united-states/

SOURCEGraphite One Inc.

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