Reflex Advanced Materials Corp. announced the completion of the Company's 2023 Phase One drill program (the "Program") at its Ruby Graphite Project (the "Project") near Dillon, Montana in a recent news release dated October 24, 2023. The Property is road accessible and is situated 22km southeast of Dillon.

The program?s impressive efficiencies allowed the Company to complete 24 holes from 8 drill pads, with a total length of 3391m giving an average depth of 141 meters. The geologic team provided by Childs Geoscience Inc. (CGI) has completed detailed descriptive logging and photography of the core, and is proceeding with an analysis program that includes the following: The entire lengths of mineralized intervals will be split and sampled; Samples will be analyzed by ALS Laboratory with complete results expected in first quarter of 2024; As part of the assaying protocol, multi-element analysis will also be initiated to test the geochemical association of the Cg mineralization; and Carbon isotope and related studies are being pursued to better understand the origin and exploration footprint of the mineralization. The holes were generally drilled in a vertical-fan arrangement with inclinations of 45°, 60°, 75° or 90° from horizontal.

All holes were surveyed to determine azimuth and inclination. The acquired data allows the team to better understand the structural trends for targeting in future drill programs. The drilling proceeded from the existing Ground Hog mine workings along a northeast trend toward the Bird?s Nest graphite mines. The S21, B04 and B03 drill pads showed the best and most consistent visual mineralization.

The host rock is a sequence of marble, calc silicate, gneiss and schist, with lesser pegmatite and amphibolite. The drilling program was designed to test one of the several conductivity anomalies identified during the Company?s GEM-2 and IP geophysical surveys conducted during 2022, plus a heliborne TDEM survey flown earlier in the 2023 exploration season and a more recent MaxMin survey conducted by Big Sky Geophysics. All mineralized sections of core are currently being sawed in half, and one half will be sent to ALS analytical laboratory for determination of graphite content, specific gravity, and multi-element analysis of selected intervals.

Due to the late start of the 2023 drilling program, it is unlikely that analytical results will be returned before First Quarter 2024. Concurrently, the drill data, surface geologic mapping, geophysical surveys and limited information available from the historical Ground Hog workings are being used to create a 3D model, and ultimately a preliminary assessment of the quantity of graphite. However, an NI 43-101 compliant resource estimate is not expected from this maiden drilling phase of the project.