Mr. Benoit La Salle reports

SRG GRAPHITE INC. ANNOUNCES PRICING OF $8,001,000 MARKETED UNIT OFFERING AND CONCURRENT PRIVATE PLACEMENT OF UP TO $2,000,000

In connection with SRG Graphite Inc.'s marketed public offering previously announced on May 1, 2018, it has entered into an underwriting agreement with a syndicate of underwriters, providing for the purchase and sale of 5,334,000 units of the company at a price of $1.50 per unit for gross proceeds of $8,001,000. Each unit will consist of one common share of the company and one common share purchase warrant of the company. Each warrant will entitle the holder thereof to acquire one additional common share at an exercise price of $2.30 per common share at any time for a period of 12 months following the closing date of the offering.

The offering is being conducted through a syndicate of underwriters co-led by National Bank Financial Inc. and TD Securities Inc., and including Macquarie Capital Markets Canada Ltd., Beacon Securities Ltd. and Clarksons Platou Securities AS.

The company has granted the underwriters an overallotment option to purchase up to a number of additional units and/or warrants equal to 15 per cent of the units sold pursuant to the offering, exercisable in whole or in part at any time up to 30 days after and including the closing date of the offering, which may be exercised for units, warrants or a combination thereof.

In addition, the company intends to complete a concurrent non-brokered private placement with Coris Capital SA. Coris has a pre-emptive right to maintain its pro rata ownership of the company in connection with the offering and has confirmed its intention to the company to exercise such right by way of a non-brokered private placement of units, up to a maximum of 1,333,333 private placement units. The units issuable pursuant to the concurrent private placement will be on the same terms and conditions as those issuable pursuant to the offering. The units issuable pursuant to the concurrent private placement will be subject to a statutory four-month hold period in accordance with applicable securities laws. The closing of the offering will be conditional upon the closing of the concurrent private placement.

The company intends to use the proceeds from the offering and concurrent private placement for advancement of the company's Lola graphite project, including, in the near term, to further regional exploration and infill resource drilling and to progress toward a feasibility study; for continued exploration of its Gogota cobalt-nickel-scandium project; and for general working capital purposes.

"This financing will provide the financial resources necessary to move forward with the development plan of the company's two deposits; the Lola graphite deposit and the Gogota nickel-cobalt-scandium deposit," said Ugo Landry-Tolszczuk, president and chief operating officer.

"We are very thankful to Mr. Nassa and his team at Coris Capital who continue to be great supporters of the company as we move to the next stage of development," said Benoit La Salle, executive chairman.

SRG will file today an amended and restated preliminary short-form prospectus containing important information relating to the offering in each of the provinces of Canada and the amended preliminary prospectus will be available on SEDAR.

The offering and concurrent private placement are expected to close on or about May 18, 2018, and are subject to certain conditions including, but not limited to, the receipt of all necessary approvals, including the approval of the TSX Venture Exchange. The closing of the offering will be conditional upon the closing of the concurrent private placement.

About SRG Graphite Inc.

SRG is a Canada-based company focused on developing the Lola graphite deposit located in the Republic of Guinea, West Africa. SRG is committed to operating in a socially, environmentally and ethically responsible manner.

We seek Safe Harbor.