Graphite One Inc. announced completion of assay results from the Company's 2023 summer drilling program, which marked the largest exploration program in the Company's history and put Graphite One on track to accelerate the completion of a compliant Feasibility Study as defined by National Instrument 43-101 ? Standards of Disclosure for Mineral Project ("NI 43-101"). These assays were received following the Company's October 23, 2023 press release1 announcing the initial assay results from the 2023 drilling program.

Select drill holes with significant graphite mineralization include: 23GC110 returned 9.40 m of 13.87% Cg from 10.36 m; 23GC127 returned 6.48 m of 19.02% Cg from 47.4 m and 10.14 m of 12.3% Cg from 61.56 m; 23GC115 returned 11.92 m of 7.07% Cg from 53 m; 23GC103 returned 9.90 m of 7.7% Cg from 0.1 m; and 23GC105 returned 6.00 m of 12.54% Cg from 107 m. As previously reported in the October 23, 2023 press release, all 52 resource definition holes drilled during the 2023 summer drilling program intersected visual graphite mineralization and continued to demonstrate exceptional consistency of a near-surface, high-grade graphite deposit that remains open east, west and down dip of the existing mineral resource estimate.