Mr. Tom Yingling reports

GREEN BATTERY MINERALS SHARES LATEST UPDATES ON ECO-FRIENDLY AND SUSTAINABLE GRAPHITE SEPARATION INITIATIVE

Green Battery Minerals Inc. and Volt Carbon Technologies Inc. (VCT) have provided the following update on their joint graphite processing initiative utilizing Volt's air separation technology, which promises to reduce waste dramatically while at the same time retaining product quality and lowering processing costs. Further, the Ford Motor Co. and SK On have announced plans to build a battery material plant in Quebec, nurturing resilient domestic supply chains, of which Green Battery has a proven graphite resource, as well as its James Bay lithium projects, both located in Quebec.

The company reported on Aug. 2, 2023, that a sample totalling approximately 27 tonnes of graphitic mineralization was collected from zones 1 and 6 at Green Battery's Berkwood graphite property and has since been delivered to Volt.

Over the past months, Volt has conducted comprehensive dry separation procedures, using its innovative proprietary technology on various graphitic rock, including those received from Green Battery. Volt analyses of the processed samples demonstrated a 96.1-per-cent purity in graphitic carbon and 98.1 per cent total carbon, as per Volt news release dated Aug. 16, 2023.

Volt believes the results represent an unprecedented level of graphitic carbon purity and demonstrate that exceptionally high-yielding results can be obtained from applying Volt's dry separation techniques. Although further work is required toward optimization, automation and demonstrating feasibility, results to date are extremely encouraging for the opportunities this new technology brings to the graphite space to reduce its environmental footprint.

Subsequent development phases are intended to involve the transformation of graphite concentrates into battery-grade anodes, followed by the creation of anode electrodes at Volt's battery plant in Guelph.

Tom Yingling, Green Battery Minerals chief executive officer, commented: "As we continue to develop our Berkwood property, and engage in conversations with both battery and car manufacturers, it is very clear that industry is exceptionally hungry for more graphite sources, especially those that promise high quality and lower costs while reducing the environmental footprint. Our collaboration with Volt is a prime example of how green innovation can drive demand and, in our case, it is resulting in advanced discussions with potential customers upon successful production. We are already sitting on a significant graphite resource with only 10 per cent of our property explored, and we plan on expanding this. We look forward to advancing our Berkwood property to PEA [preliminary economic assessment] status, as well as working with Volt to prove the feasibility of this potentially disruptive technology that both our sector and society at large can benefit from."

$1.2-billion Ford/SK cathode manufacturing facility

Ford and LG announced on Aug. 17 that the companies are investing $1.2-billion in the development of a cathode manufacturing plant in Quebec to provide materials that ultimately supply batteries for Ford's future electric vehicles.

The significant increase in battery manufacturing in Quebec may include increased demand for a domestic graphite supply. Currently, no graphite mines are operating in Quebec. Green Battery has one of Quebec's most advanced graphite projects, with a proven graphite resource, per the company's National Instrument 43-101 resource report. Investing in graphite mining operations would also positively impact securing a reliable domestic source. Along with Quebec's stringent environmental regulations, it has one of the cheapest and greenest renewable energy sources, thanks to hydroelectric energy, to minimize environmental impact. Moreover, with technological advancements, sustainable mining techniques are being implemented to mitigate potential environmental concerns associated with mining activities.

Mr. Yingling commented: "This is yet another strong validation of the demand projections for graphite, a critical anode material. Furthermore, these blue-chip companies choosing Quebec is not just for their cheap hydro, it is to be close to the supply of critical materials, many of which are mined in Quebec. As we continue to develop our Quebec graphite project, we are entering into discussions with car and battery manufacturers who are showing great interest in our project. We also believe that our green initiatives, such as our collaboration with Volt Carbon on a new air based, water-less separation technology, has further increased our stock with potential customers. We are exceptionally well positioned to capitalize on the enormous graphite for LIB opportunity and we look forward to reporting on our progress as we advance our initiatives."

About Green Battery Minerals Inc.

Green Battery Minerals is managed by a team with over 150 years of collective experience with a proven record of mine discovery, commissioning and operation. Green Battery Minerals owns 100 per cent of the Berkwood graphite deposit in Quebec. Green Battery Minerals' goal is to define sufficient graphite to ensure Berkwood graphite deposit will be resourced to mine high-demand product in sufficient quantities to comprise a significant feed of the electric vehicle battery market for multiple decades. The in-pit constrained mineral resources at the Berkwood graphite project include 1,755,300 tonnes at 17 per cent graphite (Cgr) (indicated resources) and 1,526,400 tonnes at 16.39 per cent Cgr (inferred resource). In-pit resource at the Lac Gueret South project (rounded numbers) is shown in the associated table.

The herein-referenced mineral resource estimate is described in a technical report: "[NI] 43-101 Technical Report Mineral Resource Estimate on the Lac Gueret South Graphite Property, Quebec, Canada," with an effective date of June 19, 2019, and dated June 30, 2019, by Edward Lyons, PGeo, Florent Baril, Ing, and Claude Duplessis, Ing.

The report is available on-line on SEDAR and at the company's website.

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