Graphite One Appoints Red Cloud Securities Inc. to Provide Financial Advisory and Promotional Services

VANCOUVER, BC, Dec. 5, 2023 /PRNewswire/ - Graphite One Inc. (TSXV: GPH) (OTCQX: GPHOF) (the "Company" or "G1") is pleased to announce that it has appointed Red Cloud Securities Inc. and Red Cloud Financial Services Inc. (together "Red Cloud") to provide the Company with a range of non-exclusive financial advisory and promotional services. Red Cloud is a Toronto-based financial services firm that provides assistance to mineral exploration and mining companies in accessing capital markets and enhancing their corporate profile.

Under the engagement, Red Cloud will be paid a fee of $10,000 per month for the services it will render starting on December 4, 2023 for an initial six-month term and automatically renew month-to-month thereafter unless either party provides written notice of termination to the other party thirty (30) days prior to the date of termination. More specifically, under the financial advisory services agreement, Red Cloud will identify and introduce third-parties for potential equity and debt financings and alternative financing arrangements and other transactional opportunities, and under the promotional services agreement, Red Cloud will review and advise on road shows, review, draft and advise on traditional marketing documents, make introductions to, meet and communicate with corporate analysts, institutional and professional investors and retail brokers, provide traditional media support and assist in creation of content for Red Cloud's exclusive RCTV platform and dissemination of content via RCTV, and other services as required by the Company. There are no performance obligations contained in the Agreement and Red Cloud will not receive common shares, stock options or any form of equity in the Company as compensation.

Red Cloud and the Company are arms-length parties and Red Cloud and its principals do not currently own or have any interest, directly or indirectly, in the securities of the Company, however, Red Cloud and its clients may acquire an interest in the securities of the Company in the future. The engagement is principally for the purposes of maintaining market stability and liquidity for the Company's common shares and is not a formal market making agreement. The engagement of Red Cloud is subject to approval by the TSX Venture Exchange (the "TSX-V"). 

Anthony Huston, President and CEO of G1 commented "We look forward to having Red Cloud introducing us to a broader investor base, provide improved access to equity capital markets, and provide a range of corporate advisory and promotional services".

The Red Cloud engagement follows the completion of the Company's 2023 summer drilling program, marking the largest exploration program in the Company's history and allowing the Company to accelerate completion of its Feasibility Study, anticipated in Q4 2024. The 2023 drilling program was conducted with the support of up to a US$37.5 million Department of Defense Technology Investment Agreement grant under Title III of the U.S. Defense Production Act ("DPA"), which is funded through the Inflation Reduction Act. The grant reimburses Graphite One on a dollar-for-dollar basis for qualified expenditures of up to US$37.5 million. As a result of the DPA grant and a strategic investment from Bering Straits Native Corporation, Graphite One completed 57 holes for a total of 28,669 ft of drilling, including 5 geotechnical holes for the primary purpose of evaluating construction sites and hydrology conditions. Preliminary assay results have been very encouraging and all 52 resource holes intersected visual graphite mineralization.

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.

Red Cloud Securities Inc. is registered as an Investment Dealer in Ontario, Quebec, Alberta and British Columbia and is a member of the Investment Industry Organization of Canada (IIROC). Part of Red Cloud's business is to connect mineral exploration and mining companies to suitable investors. For additional information about Red Cloud, visit their website at www.redcloudfs.com.

GRAPHITE ONE INC. (TSX‐V: GPH; OTCQX: GPHOF) continues to develop its Graphite One Project (the "Project") to become 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 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 sixty (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 by December 2024.

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 appointment and performance of Red Cloud, 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.sedarplus.ca.

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SOURCE Graphite One Inc.