Dr. Roger Moss reports

CKR ANNOUNCES FURTHER INCREASE TO BROKERED PRIVATE PLACEMENT FINANCING

CKR Carbon Corp. has retained First Republic Capital Corp. to act as its exclusive lead agent in respect of a brokered private placement to raise up to $1,735,000.

First Republic will act as agent on a commercially reasonable efforts basis to sell up to 14,722,223 units of the company at a price of nine cents per unit to raise proceeds of up to $1,325,000 and up to 4.1 million flow-through shares at a price of 10 cents to raise flow-through proceeds of $410,000.

Each unit comprises: (i) one common share of the company and (ii) one common share purchase warrant of the company, with each common share purchase warrant entitling the holder to purchase one additional common share of the company at an exercise price of 20 cents for a period of three years from the date of issuance of the units. In the event that the closing price of the company's common shares on the TSX Venture Exchange (or such other exchange on which the company's common shares may become traded) is 30 cents or greater per common share during any 10-consecutive-trading-day period at any time subsequent to four months and one day after the closing date, the warrants will expire, at the sole discretion of the company, at 4 p.m. Toronto time on the 30th day after the date on which the company provides notice of such accelerated expiry to the holders of the warrants and First Republic.

The company has agreed to pay First Republic cash compensation of: (i) a corporate finance fee equal to 2 per cent of the gross proceeds of the private placement and (ii) a sales commission up to 8 per cent of the gross proceeds of the private placement, and to issue broker units (on the same terms as the units) in respect of the sale of units or warrants to purchase common shares at 10 cents in respect of the sale of flow-through shares to First Republic, exercisable for a period of 24 months in the following amounts: (i) corporate finance broker units or broker warrants equal to 2 per cent of the aggregate number of units or flow-through shares sold in the private placement and (ii) selling compensation broker units or broker warrants up to 8 per cent of the aggregate number of units or flow-through shares sold in the private placement.

All securities issued pursuant to the private placement will be subject to a four-month hold period from the date of closing of the private placement. The private placement is subject to the approval of the TSX Venture Exchange.

The net proceeds from the sale of the units will be used for continuing underground drilling and sampling at the Aukam graphite mine in Namibia, remaining studies required for a mining permit application, construction of a pilot plant, and for working capital. The net proceeds from the sale of flow-through shares will be used for exploration of the company's graphite projects in Quebec.

The technical information in this news release was prepared by Dr. Roger Moss, PhD, PGeo, a qualified person as defined by National Instrument 43-101.

About the Aukam project

CKR has, through a binding farmout agreement with Next Graphite Inc., an option to acquire 63 per cent of the Aukam graphite project by meeting certain milestones and making cash payments. It also has the option to buy an incremental 10 per cent of Next's remaining interest in the licence, subject to agreement by Next. CKR has acquired 52 per cent of the project and expects to acquire the full 63 per cent in the near future.

The Aukam graphite project is located on 34,082.15 hectares in southern Namibia, close to the port city of Luderitz. The property hosts three underground adits which were mined periodically between 1940 and 1974. Five dumps from the historical mining occur on the property, and 73 composite samples taken from the lower three dumps were assayed and averaged 42 per cent graphitic carbon. While these composite samples were selected from a much larger screened sample of the dumps, they are not considered representative of the mineralization on the property as a whole.

CKR recently completed a bulk sampling program at Aukam and has a letter of intent to sell the graphitic material produced during the program. CKR is currently undertaking studies to support an application for a mining licence. The company maintains high safety and environmental standards and has a comprehensive strategy of social engagement.

About CKR Carbon Corp.

CKR Carbon is focused on high-quality, natural graphite suitable for use in lithium-ion batteries, graphite foil, graphene and other value-added high-growth technology applications. The company only selects projects requiring low capital and a short time to market.

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