Canada Carbon Inc.
TSX VENTURE : CCB
FRANKFURT : U7N1

Canada Carbon Inc.

March 03, 2015 10:30 ET

Canada Carbon Initiates Re-Permitting of Its Asbury Graphite Historical Mill Site

VANCOUVER, BRITISH COLUMBIA--(Marketwired - March 3, 2015) - Canada Carbon Inc. (the "Company") (TSX VENTURE:CCB) (FRANKFURT:U7N1) is pleased to inform its shareholders that it has begun the process of re-permitting the graphite processing mill on its wholly-owned Asbury Project. The permits under which the historic mining and milling were conducted on the Asbury Project expired in the year 2000. The Company anticipates receiving written approval shortly from the Municipality of Notre-Dame-Du-Laus, which is also the owner of the land upon which the mill and its associated tailings ponds are located, to proceed with its application to obtain a permit to operate a tailings storage facility (tailings pond). An existing graphite tailings pond on the property has significant remaining capacity.

The Company is currently in discussions with the Municipality of Notre-Dame-Du-Laus, the (region) MRC (Municipalités Régionales de Comté), and the Province of Québec's MERN (Ministère de l'Énergie et des Ressources Naturelles) and MDDELC (Ministère du Développement Durable, Environnement et Lutte contre les Changements Climatiques) with the objective of determining the required permits and approvals which would be associated with re-commissioning the historic Asbury mill site.

The Company will only proceed with planning the re-commissioning of the Asbury mill facilities if it obtains the requisite permit to operate a tailings storage facility. As the property has been previously permitted for similar operations, there is a significant amount of evidence already in the government's files, which is expected to simplify the tailings storage facility application process.

Canada Carbon's Executive Chairman and CEO Mr. R. Bruce Duncan stated, "The potential use of the 100%-owned Asbury Project mill site is a logical option for Canada Carbon to consider, due to the existing infrastructure, and the proximity to our projects. The historical use of the property for the processing of graphite has provided us with substantial information with respect to e.g. environmental and social impacts, which should make the task of obtaining permits easier for us. The proactive and supportive attitude of the Municipality of Notre-Dame-Du-Laus will also help in moving forward with this project."

About the Asbury Graphite Property

Canada Carbon's Asbury Property is located about 8 km northeast of Notre-Dame-Du-Laus in the Laurentides Region of southern Quebec. Historical exploration by various companies, and subsequent resource evaluations, led to the determination that an economic graphite deposit existed there. The deposit was put into production by Asbury Graphite Quebec Inc., a subsidiary of Asbury Graphite Inc., with its offices in Asbury, New Jersey. As reported to Canada Carbon in personal communications with Stephen Riddle, current owner of Asbury Graphite, open pit mining operations led to the extraction of about 875,000 metric tonnes of graphite ore at a cut off grade of 6%, over the 14 years of active mining conducted between 1974 and 1988. After mining operations ceased, the graphite processing plant was leased to Stratmin Graphite Inc., for a five year period.

In 2000, the historic open-pit mine site was restored, as verified by assessments contained in the searchable database of Québec's Ministère de l'Énergie et des Ressources Naturelles. No environmental liabilities from the historic mining operations are transferable to Canada Carbon. The land underlying the historic mill and its associated tailings ponds is now owned by the Municipality of Notre-Dame-Du-Laus.

Although in a state of disrepair, some historic mill buildings are still present, and include the structural components of a concentrator plant, two offices, and a workshop. A large parking area is available, and tailings storage facilities are also present. Photographs showing the infrastructure are provided at (Website, pictures from the Asbury 43 101).

Dr. Charbonneau, Ph.D., P. Geo #290 (an Associate of Inlandsis Consultants s.e.n.c.) is an Independent Qualified Person under National Instrument 43-101, and has reviewed and approved the technical information provided in this news release.

On Behalf of the Board of Directors

CANADA CARBON INC.

R. Bruce Duncan, CEO and Director

"Neither 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."

FORWARD LOOKING STATEMENTS: This news release contains forward-looking statements, which relate to future events or future performance and reflect management's current expectations and assumptions. Such forward-looking statements reflect management's current beliefs and are based on assumptions made by and information currently available to the Company. Investors are cautioned that these forward looking statements are neither promises nor guarantees, and are subject to risks and uncertainties that may cause future results to differ materially from those expected. These forward-looking statements are made as of the date hereof and, except as required under applicable securities legislation, the Company does not assume any obligation to update or revise them to reflect new events or circumstances. All of the forward-looking statements made in this press release are qualified by these cautionary statements and by those made in our filings with SEDAR in Canada (available at www.sedar.com).

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