Graphite One Inc. announced the commencement of the Company's 2024 Field Program at its Graphite Creek Property located north of Nome, Alaska. Based on the positive results of the 2023 drilling program, the 2024 Field Program has been developed to gather the remaining data required to complete the Company's Feasibility Study. Three drill rigs are currently operating to gather the geotechnical information needed to engineer the pit walls and foundations for the process facility, tailings/waste rock facility, and other infrastructure.

Graphite One is pleased that job fairs conducted in the local communities of Teller, Brevig Mission and Nome have resulted in 22 of the summer positions being filled by residents of the local communities. In parallel to the drilling program, site visits and field work by the engineering team and environmental specialists are also underway, to continue baseline studies on: Surface water quality; Ground water quality; Hydrogeologic investigations; Bathymetric and water quality characterization of the Imuruk Basin; Fish and other aquatic species surveys; Raptor nesting; Cultural heritage/archaeological investigations. Graphite One's senior team will continue to engage the communities and tribal organizations nearest Graphite Creek on the 2024 field program and provide a forum for dialogue on a development path that benefits local residents.

Completion of the Feasibility Study is subject to financing. Graphite One's Domestic Supply Chain Strategy: With the United States currently 100% import dependent for natural graphite, Graphite One is developing a complete U.S.-based, advanced graphite supply chain solution anchored by the Graphite Creek deposit, recognized by the US Geological Survey as the largest graphite deposit in the U.S. ?and among the largest in the world.? The Graphite One Project plan includes an advanced graphite material and battery anode material manufacturing plant located in Warren, Ohio.

The plan also includes a recycling facility to reclaim graphite and the other battery materials, to be co-located at the Ohio site, the third link in Graphite One's circular economy strategy.