Reflex Advanced Materials Corp. announced plans for Phase 2 of its mineral exploration program at the Ruby Graphite project. The Ruby Graphite project (the ‘Project') covers approximately 2,000 acres and 96 federal lode mining claims located in Beaverhead County, Montana, U.S.A. The Company secured an option to acquire 100% ownership in the Project in September.

The Phase 2 program, which is anticipated to occur during spring/summer of 2023, will focus on identifying and evaluating potential vein graphite structures on the Project. The initial exploration activities that Ethos conducted in 2022 included detailed geological field mapping, rock sampling from over 25 locations within the Project claims, a soil survey, detailed photogrammetry, elevation modeling, acquiring a 100 line-km of surface electromagnetic data and an induced potential survey along three lines approximately 1,500m in length at 50m dipole spacing. Ethos has submitted the previously mentioned rock samples to ALS Minerals, of Twin Falls, Idaho (‘ALS') and is awaiting the assay results.

Reflex will disclose these assay results following their receipt by Ethos. The NI 43-101 Technical Report on the initial exploration work conducted in 2022 is expected to include recommendations for continued exploration work at the Project, plans for additional geophysical surveys and targets for a diamond core drill program to test high conductivity trends that Ethos has identified at the Project. Being that graphite is a highly conductive element, the electromagnetic conductivity trends identified by Ethos indicate the presence of additional graphitic bearing structures.

The Company believes that these trends, coupled with the knowledge of Ruby being a past producing mine in the early 1900's and the presence of graphite outcrops at surface, are a strong indication of potential and significant graphite mineralization at the Property. The Ruby Graphite Project is located at the southwest portion of the Ruby Range mountains in southwestern Montana, approximately 14 miles (22 km) southeast of the town of Dillon, Montana. The Ruby project area consists of a combination of private and public lands totaling 1,945 acres (787 hectares) and includes 96 lode mining claims with a total size of 1,764 ac (714 ha).

The Federal mining claims provide the rights to explore, mine and extract minerals from the lands. The Project encompasses a previously mined natural graphite deposit which operated as the Crystal Graphite Company from 1901 until 1948, having produced more than 2,000 metric tonnes of vein graphite. A fire consumed the small concentration mill and part of the mining camp around 1950, and the location was abandoned and mostly forgotten.

Reflex plans to resurrect the graphite production and become the only vein graphite mine in the U.S. Reflex is committed to responsible exploration and development of its mineral assets and will adhere to all relevant environmental and safety regulations throughout the program.