Graphite One Names Award Winning Geologic Engineer and Operator, Mike Schaffner as Senior Vice President, Mining

Schaffner Will Oversee G1 2022 Drilling Program & Feasibility Study Field Season
PFS on track for completion in 2Q 2022

VANCOUVER, BC, June 1, 2022 /PRNewswire/ - Graphite One Inc. (TSXV: GPH) (OTCQX: GPHOF) ("Graphite One", "G1" or the "Company"), developing a complete domestic U.S. supply chain for advanced graphite materials, is pleased to announce the appointment of mining veteran Mike Schaffner as Senior Vice President, Mining of the Company's wholly–owned Alaskan subsidiary, Graphite One (Alaska) Inc.,effective July 1, 2022.

Prior to joining G1, Mr. Schaffner worked at Ambler Mining, where he oversaw engineering work for the Arctic pre-feasibility study and managed the metallurgical test work program for the company's drilling program.   He joined Ambler after 15 years with Newmont Mining, rising through positions of increasing responsibility to the level of General Manager at the Carlin Gold Mine, Cripple Creek and Victor Mines, managing operating budgets in excess of $750 million and a workforce of 1200 employees.  Mr. Schaffner began his mining career with Echo Bay Mining and Coeur Mining at operations in Nevada.

Mr. Schaffner's operations are three-time winners of the National Mining Association's Sentinels of Safety award, recognizing the U.S.'s safest mines for continuous injury-free operations.  He holds two patents related to bio-oxidation heap leaching.  He received his bachelor's degree in Geologic Engineering from the Montana College of Mineral Science and Technology.

"G1 will benefit greatly from Mike's long record of superior performance in mining operations," said Anthony Huston, CEO of Graphite One.  "Mike's hallmark has been operational excellence, while maintaining a strong working relationship within local communities and regulatory agencies.  He's the right addition to our team as we step up to the next level."

"I'm excited to join the Graphite One team as the company moves into its next phase of development," Mr. Schaffner said.  "I've been involved at every stage in the development process, from design to start-up, into operation and closure. I'm ready to help the team realize G1's tremendous potential of becoming America's first US graphite mining operation since 1990."

The Company also announces that Stan Foo, COO of Graphite One (Alaska) Inc., will retire, effective July 1, 2022.  "The Board of Directors sincerely thanks Stan for his dedication to Graphite One," said Doug Smith, Executive Chair of Graphite One.  "His sound guidance – and particularly his commitment to making Graphite One a good neighbor of our local communities – is a testament to his leadership these past four years.  We wish him the best in his well-earned retirement."

With the United States currently 100 per cent import dependent for natural graphite, Graphite One is planning a complete U.S.-based, advanced graphite supply chain solution. The Graphite One project plan includes an advanced graphite material and battery anode manufacturing plant expected to be located in Washington State and anchored by the development of the Graphite Creek resource near Nome, Alaska. Also included is the third link in Graphite One's circular economy strategy - a recycling facility to reclaim graphite and other battery materials, to be co-located at the Washington State site.

As announced on March 7^{th 1}, Graphite One Inc.'s Graphite Creek resource in Alaska has been cited as the largest known graphite deposit in the United States by the U.S. Geological Survey (USGS) in its updated U.S. Mineral Deposit Database (USMIN).

The USGS report confirms Alaska Governor Mike Dunleavy's statement in support of Graphite One's designation as a U.S. government high-priority infrastructure project, stating, "Graphite Creek is the largest deposit of graphite in the nation and would be a superior domestic supply of this critical mineral.

GRAPHITE ONE INC. (GPH: TSX–V; GPHOF: OTCQB) continues to develop its Graphite One Project (the "Project"), whereby the Company could potentially become an American producer of high grade anode materials that is integrated with a domestic graphite resource. The Project is proposed as a vertically integrated enterprise to mine, process and manufacture high grade anode materials primarily for the lithium–ion electric vehicle battery market.  As set forth in the Company's Preliminary Economic Assessment, potential graphite mineralization mined from the Company's Graphite Creek Property, is expected to be processed into concentrate at a graphite processing plant. The proposed processing plant would be located on the Graphite Creek Property situated on the Seward Peninsula about 60 kilometers north of Nome, Alaska.  Graphite anodes and other value–added graphite products would be manufactured from the concentrate and other materials at the Company's proposed advanced graphite materials manufacturing facility, the location of which is the subject of further study and analysis.  The Company intends to make a production decision on the Project once a feasibility study is completed.

"Anthony Huston" (signed)

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

On Twitter @GraphiteOne

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.

All statements in this release, other than statements of historical facts, including those related to the timing and completion of the anticipated Preliminary Feasibility Study, future production, establishment of a processing plant and a graphite manufacturing plant, establishment of a battery materials recycling facility, and events or developments that the Company intends, expects, plans, or proposes are forward-looking statements Generally, forward–looking information can be identified by the use of forward–looking terminology such as "proposes", "expects", "is expected", "scheduled", "estimates", "projects", "plans", "is planning", "intends", "assumes", "believes", "indicates", "to be" or variations of such words and phrases that state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". The Company cautions that there is no certainty that tests of the Company's material will be successful or that such tests will result in the development of successful products. 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 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.

SOURCE Graphite One Inc.