Mr. Ugo Landry-Tolszczuk reports

SRG GRAPHITE INC. ANNOUNCES MARKETED UNIT OFFERING AND CONCURRENT PRIVATE PLACEMENT

SRG Graphite Inc. has filed a preliminary short-form prospectus in connection with an overnight marketed public offering of units, with each unit composed of one common share and one common share purchase warrant. Each warrant will entitle the holder thereof to acquire one additional common share. The pricing, number of units to be distributed, and the exercise price and term for each warrant will be determined in the course of marketing with final terms to be agreed upon at the time of the entering into of the underwriting agreement. It is anticipated that the price of the units will be $1.50, and the exercise price of the unit warrant shares will be $2.30.

The preliminary prospectus was filed in each of the provinces of Canada, and the offering is being conducted by a syndicate of underwriters, co-led by National Bank Financial Inc. and TD Securities Inc.

The company will also grant the underwriters an overallotment option to purchase up to a number of additional units 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. 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.

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, and the entering into of an underwriting agreement between the company and the underwriters.

About SRG Graphite Inc.

SRG is a Canadian-based company focused on developing the Lola graphite deposit and the Gogota cobalt-nickel-scandium 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.