Gratomic Inc. and Graphex Technologies LLC, the U.S. announced that they have jointly submitted samples of vein graphite concentrate from the Aukam Project in Namibia for characterization at an independent laboratory. The aim is to determine whether the graphite is suitable for lithiumion (Li-ion) battery anode applications. These test results are critical to establish if Gratomic and Graphex could enter into the next phase of their collaboration.

This phase would have the objective to incorporate Aukam Vein Graphite in Lithium Ion Battery Applications that utilize Graphex's competitive technology and expertise in mid-tier processing of graphite for anode materials. Gratomic is currently in step to bring its 100% owned Aukam Vein Graphite processing plant on line by the end of June. Initially, Gratomic will produce 100 tonnes of graphite concentrate as it optimizes its operations for commercial readiness.

Deliveries of 100 tonnes of concentrate will be targeted to multiple parties across the world to roll into their applications. The majority will be sent to Graphex's existing full-scale processing facilities to further validate original equipment manufacturers (OEMs) using the material in Li-ion batteries. X-Ray Difraction (XRD) analysis on an Aukam graphite concentrate sample evaluated key technical aspects of the graphite material such as interlayer spacing, graphite layer thickness, number of graphite monolayers in the flake, average width of the graphite crystal along the a-axis, and degree of graphitization.

This comparison indicates the positive potential for processing Aukam Vein Graphite into battery-grade graphite. Accordingly, Gratomic and Graphex will proceed with due diligence discussions of their proposed joint venture to produce coated spherical graphite anode material for the electric vehicle (EV) battery market. Qualified Persons: Mr. Oliver Peters, a Principal Metallurgist with Metpro Management Inc., is a Qualified Person under National Instrument 43-101 - Standards of Disclosure for Mineral Projects, has reviewed and approved the technical disclosure in this news release.

Gratomic wishes to emphasize that no Preliminary Economic Analysis, Preliminary Feasibility Study, or Feasibility Study has been completed to support any level of production. In fact, no mineral resources, let alone mineral reserves demonstrating economic viability and technical feasibility, have been delineated on the Aukam property. The Company is working towards completing a Feasibility Study (FS) on the Aukam Processing Plant.

The study, its recommendations, and their subsequent implementation, will provide conclusions and recommendation at a FS level of comfort about scaling-up the existing processing plant to a commercial facility that can produce the desired concentrate grades and production rates. Gratomic wishes to emphasize that the supply of graphite is conditional on bringing the Aukam Project to production phase, and for any graphite produced meeting certain technical and mineralization requirements. Risk Factors: No mineral resources, let alone mineral reserves demonstrating economic viability and technical feasibility, have been delineated on the Aukam property.

The Company is not in a position to demonstrate or disclose any capital and/or operating costs that may be associated with the processing plant until the Feasibility Study is completed. The Company advises that it has not based its production decision on even the existence of mineral resources, let alone on a Preliminary Feasibility Study or Feasibility Study of mineral reserves, demonstrating economic and technical viability. As a result, there may be an increased uncertainty about achieving any particular level of mineral recovery or the cost of such recovery, including increased risks associated with developing a commercially mineable deposit.

Historically, such projects have a much higher risk of economic and technical failure. There is no guarantee that production will begin as anticipated or at all, or that anticipated production costs will be achieved. Failure to commence production would have a material adverse impact on the Company's ability to generate revenue and cash flow to fund operations.

Failure to achieve the anticipated production costs would have a material adverse impact on the Company's cash flow and future profitability.