Five First Nations and Global Battery Materials Sign Letter of Agreement for Potential Equity Investment in Kearney Graphite Project

Agreement establishes framework with Global Battery Materials to explore a comprehensive relationship agreement, following positive Preliminary Economic Assessment 

TORONTO, Aug. 10, 2026 /PRNewswire/ -- Global Battery Materials Corp. ("GBM" or the "Company") announces that it has signed a Letter of Agreement ("LOA") with five First Nations — Dokis, Henvey Inlet, Magnetawan, Shawanaga and Wasauksing, with respect to engagement, including a potential investment transaction, in the Kearney Graphite Project ("Kearney" or the "Project") in northeastern Ontario. The five First Nations have formed the Gizhe Manidoo O-Miigwewinan Limited Partnership ("GMM LP") to facilitate their collective engagement in the Project. The LOA reflects the interests of all five Nations in ensuring the Project's responsible development and commits both parties to negotiating a Partnership Framework exploring potential opportunities for equity ownership, an energy partnership, and long-term stewardship of the surrounding lands and waters.

The LOA, signed by GBM and the Chiefs of the five First Nations, establishes a process to develop a Partnership Framework between GBM and GMM LP for the restart of the Kearney Mine to ensure mutual benefits for both parties, including equity participation and an energy partnership, while protecting the environment and respecting Indigenous Rights.

Wasauksing Chief Shane Tabobondung commented: "This is an early and significant milestone in our relationship with the Company for the Kearney Graphite Project. This LOA reflects how business is to be conducted in our traditional territories and lands – business that is conducted with and led by our First Nations for the long-term protection of our lands and the responsible and sustainable development of our resources for the benefit of our people."

"Today's agreement establishes the foundation for a long-term relationship built upon mutual trust, transparency, and shared success," said Karl Trudeau, COO of Mining at GBM. "As we advance the Kearney Graphite Project following the positive results of our Preliminary Economic Assessment, we remain committed to working alongside the five First Nations to build a project that reflects responsible resource development, environmental stewardship, and meaningful Indigenous participation from planning through operations."

GBM believes that the future of Canada's critical minerals industry will increasingly be built upon long-term partnerships between Indigenous communities, responsible resource developers, and governments. The establishment of a Kearney Partnership Framework is intended to serve as an example of this collaborative approach while supporting regional economic development, environmental responsibility, and supply chain security for North America's critical minerals sector.

"Partnership is how we do business," said Eric Miller, CEO of GBM. "The five First Nations coming together to form a partnership and sign this agreement with a defined path toward equity participation in Kearney is a powerful statement of partnership and shared commitment to long-term stewardship. Advancing economic reconciliation through meaningful Indigenous ownership is becoming the standard for responsible critical minerals development in Canada, and we intend to lead by example. We're not just restarting a mine; we're building a lasting relationship."

This announcement follows the Preliminary Economic Assessment for the Kearney Graphite Project, which evaluated the restart of the prior-producing Kearney Mine and confirmed its strong economics with a 67% internal rate of return and 1.3-year payback. GBM intends to advance a Definitive Feasibility Study as the next step in the Project's development. The Project is the foundation of GBM's integrated mine-to-anode supply chain being built in North America.

About the GMM First Nations

The Dokis, Henvey Inlet, Magnetawan, Shawanaga, and Wasauksing First Nations are Anishinabek communities whose traditional territories encompass the lands and waters of the Georgian Bay and French River regions of Ontario. Together, they are forming the Gizhe-Manidoo O-Miigwewinan First Nations consortium and the Gizhe Manidoo O-Miigwewinan Limited Partnership, through which they collaborate on economic opportunities within their territories while protecting the environment and their Aboriginal and treaty rights.

About Global Battery Materials Corp.

Global Battery Materials Corp. (GBM) is a vertically integrated critical minerals and battery technology company building an ex-China supply chain from natural graphite to anode materials. The Company's platform is anchored by critical mineral assets in Canada, a battery materials laboratory in Québec, and patented anode processing technology piloted in South Korea and slated for scale-up in North America, positioning GBM as North America's fastest path to end-to-end critical material resiliency. Backed by the Canadian government and a proprietary patent portfolio, GBM serves the defence, energy, industrial, and electric vehicle battery markets. Learn more at www.globalbatterymaterials.com.

Cautionary Note Regarding Forward-Looking Statements

Certain statements in this press release constitute forward-looking information within the meaning of applicable securities legislation, including statements regarding the anticipated benefits of the Letter of Agreement and the partnership with the GMM First Nations, potential financing arrangements and equity participation, the results of the Preliminary Economic Assessment, the advancement of a Definitive Feasibility Study, and the development and restart of the Kearney Graphite Project. Forward-looking statements are based on assumptions management believes to be reasonable as of the date of this release and are subject to known and unknown risks and uncertainties that may cause actual results to differ materially. Readers are cautioned not to place undue reliance on forward-looking statements. The Company disclaims any obligation to update or revise any forward-looking statements except as required by applicable law.

GMM First Nations Media Contact: [email protected]

Global Battery Materials Corp. Media Contact: [email protected]

SOURCE Global Battery Materials