Graphite One Resources Inc.
TSX VENTURE : GPH
OTCQX : GPHOF

Graphite One Resources Inc.

March 10, 2016 06:00 ET

Graphite One on Target to Produce U.S.-Sourced Carbon-Coated Spherical Graphite

VANCOUVER, BRITISH COLUMBIA--(Marketwired - March 10, 2016) - Graphite One Resources Inc. (TSX VENTURE:GPH)(OTCQX:GPHOF) ("Graphite One" or the "Company") is pleased to announce that it has commenced product development test work to produce carbon-coated spherical graphite from STAX graphite sourced from the Company's Graphite Creek deposit near Nome, Alaska.

  • Carbon-Coated Spherical Graphite expected to be produced early in Q2 2016
  • First Step Towards a U.S. Supply Chain for Critical Clean Energy Material

"Production of carbon-coated spherical graphite will be a key step for us," said Anthony Huston, CEO of Graphite One. "As the green technology economy grows, driving continued adoption of electric vehicles and smart grid power storage devices, graphite will increasingly be a key material - a factor already present in rising demand projections."

The test work is expected to provide preliminary information on the milling and spheroidizing yields of STAX graphite, assess non-chemical methods for graphite purification, generate electrochemical performance data of spherical graphite in coin cells tests and generate exploratory samples for potential end-users.

The Company is on schedule to produce the exploratory samples of spherical graphite early in the second quarter of 2016.

"With the United States presently 100% import-dependent for all of its graphite, reliable access to high-purity product will be a key factor in the United States' ability to build sustainable industries in clean-tech and other high-tech applications," Huston noted. "With America's largest natural flake deposit, and the advanced processing capabilities we are now working towards validating, Graphite One is systematically developing critical components of a North American clean-energy supply chain."

In addition to the test work, the Company is validating its mineral processing flowsheet for the Graphite Creek graphite mineralization and is also generating a larger sample of select sized graphite concentrates that will then be purified and processed into ultra-high purity coated spherical graphite.

During the test work to date, less energy intensive milling characteristics of STAX graphite were observed. Preliminary air milling trials successfully achieved a size reduction requiring less than a third of the operating pressure typically used on conventional flake graphite.

Metallurgical testing using Graphite Creek material had previously examined graphite purification (or produced purified graphite) by chemical (acid) treatment. Graphite One is also evaluating green and sustainable cost-effective methods to purify graphite as the Company's preferred approach. Spherical graphite is used mainly in lithium ion batteries, the main demand-driver being electrical and hybrid vehicles.

The processing work, being done by TRU Group Inc ("TRU Group") in the U.S., is expected to produce lab-scale samples of carbon-coated spherical graphite for internal assessment of electro-chemical performance and for potential end-user evaluation. Graphite One anticipates that the samples will be produced within 5 to 6 weeks with the findings to be incorporated into the Preliminary Economic Assessment.

The spherical graphite product from spheroidization will be classified into different size ranges, as only certain sizes will be suited to electric vehicle and power storage applications.

GPH's "STAX" Graphite

In April 2015, the Company announced that TRU Group's comprehensive study of the Company's deposit revealed unique characteristics of the Graphite Creek's mineralization. As identified by TRU, these distinguishing features can be described as Spheroidal, Thin, Aggregate and eXpanded - or STAX.

About Graphite One

GRAPHITE ONE RESOURCES INC. (TSX VENTURE:GPH)(OTCQX:GPHOF) is exploring with the intent to develop the Graphite Creek Project, USA's largest known large flake graphite deposit situated on the Seward Peninsula of Alaska about 60 kilometers north of Nome. The Graphite Creek Project is progressing from the exploration to the evaluation phase. Work to date has identified a large, high grade and at-surface resource with simple geology and good mineralization continuity. For more information please see www.graphiteoneresources.com.

Mr. David Hembree, C.P. Geol., General Manager Operations for Graphite One and a Qualified Person under NI 43-101, is responsible for and has reviewed and approved the technical content of this press release.

ON BEHALF OF THE BOARD OF DIRECTORS

"Anthony Huston" (signed)

For more information on Graphite One Resources Inc. please visit the Company's website, www.GraphiteOneResources.com.

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, are forward-looking statements. Forward-looking information in this release includes, but is not limited to, statements regarding the actual ability to produce spherical graphite, ultimate results of the test-work, the anticipated progress of both the TRU Group and Graphite One during 2016, the timing and successful completion of the PEA, the industry projections regarding the future demand for graphite, the industry projections regarding electric vehicles and smart grid power storage devices, the results of the TRU Group's study being accurate regarding the characteristics of the Graphite Creek mineralization, exploration drilling, exploitation activities and events or developments that the Company expects, the sustainability and ultimate environmental effects of spherical graphite, are all forward-looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not 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 results of the product development test work may not be indicative of the advancement of the project as anticipated, or at all, 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.sedar.com.

Contact Information