Mr. R. Bruce Duncan reports

CANADA CARBON PROVIDES CLARIFICATION OF DISCLOSURE IN ITS CORPORATE PRESENTATION

As a result of a continuous disclosure review by the staff of the Ontario Securities Commission, Canada Carbon Inc. is issuing the following news release to retract and clarify its disclosure.

Restricted disclosure of economic analysis

National Instrument 43-101 restricts the disclosure of the results of an economic analysis prior to completing at least a preliminary economic assessment based on at least inferred mineral resources to support the disclosure.

The company's corporate presentations dated January, 2015, and February, 2015, contained statements which may have been potentially misleading, in that they related to topics such as forecast production rates, operating cost estimates, potential product sales and potential years of mine life. Given that the company's April 25, 2014, technical report on the Miller graphite property does not address mineral resources, it is potentially misleading for the company to disclose information related to anticipated economic viability and planned production.

Upon receipt of the comment letter from the Ontario Securities Commission, the company immediately removed the corporate presentation from its website and deleted the remarks in question.

Commissioning of preliminary economic assessment

The company is pleased to report that it will immediately contract engineering and technical consulting firm Tetra Tech WEI Inc. to complete a preliminary economic assessment on its Miller graphite project, which will incorporate the pilot-plant-scale flotation concentration flow sheet developed for the company by SGS (Lakefield). SGS Geostats of Blainville, Que., has been contracted to produce a technical report, which will provide marble and graphite resource estimates (press release dated Feb. 19, 2015). The company is in the process of applying for the required permits for the extraction of graphite and marble at its Miller hydrothermal lump/vein graphite project. The company has also begun the process of obtaining permits to operate a graphite milling operation on its Asbury graphite project, situated close to the Miller project in Southern Quebec.

About Tetra Tech WEI

Tetra Tech WEI is a leading provider of consulting, engineering, program management, construction management and technical services. The company supports government and commercial clients by providing innovative solutions focused on water, environment, energy, infrastructure and resource management. With 13,000 employees operating out of 330 locations in more than 120 countries on six continents, Tetra Tech's capabilities span the entire project life cycle.

We seek Safe Harbor.