Mr. Tom Yingling reports

GREEN BATTERY AND VOLT CARBON MANUFACTURE INITIAL LITHIUM ION BATTERIES WITH GRAPHITE ANODES, THAT REQUIRE NO ACID PURIFICATION, FLOTATION, SPHEROIDIZATION, OR CARBON COATING.

Green Battery Minerals Inc. and Volt Carbon Technologies Inc. (VCT) have released the test results of their lithium-ion batteries.

Volt Carbon Technologies is pleased to announce the commencement of battery anode development using graphite refined from Green Battery Minerals' Berkwood property, accompanied by the release of initial test results affirming the high-grade graphite's suitability for lithium-ion batteries.

Utilizing the super jumbo flake graphite concentrate derived from rock samples provided by Green Battery to Volt in July, 2023, Volt's Scarborough facility successfully executed a dry separation process, yielding a record-high total carbon content of 98.4 per cent, as announced on Aug. 15, 2023. Under the guidance of Dr. Aiping Yu, Volt's newest board member and University of Waterloo professor, the graphite underwent a straightforward mechanical reduction process to achieve battery-grade anode sizes without the need for additional purification treatment.

This process used no harmful chemicals and did not go through two very costly and energy consuming processes of sphericalizing and coating. These two steps in the future may be added and tested which may improve the battery performance.

Dr. Yu's team extensively characterized the graphite using techniques such as X-ray diffraction (XRD), inductively coupled plasma mass spectrometry (ICP-MS) and scanning electron microscopes (SEM), confirming its suitability for further battery anode development. This involved coin cell fabrication through a straightforward micronization process applied to the flake graphite concentrate.

Subsequently, coin cells were manufactured alongside benchmarked samples of commercially available graphite anodes and are currently undergoing cycle testing at both Solid Ultrabattery's and the University of Waterloo's labs. Initial coin cell testing revealed a capacity of 344 milliampere-hours/gram, achieved without any chemical processes and under entirely dry handling conditions and without the use of spheroidization and carbon coating. This highlights the efficacy of the mechanical reduction process and underscores the promising potential of sustainable dry-separated graphite for battery applications. With further process adjustments, the company aims to achieve results exceeding 360 mAh/g in the coming quarter.

These outcomes mark the initial stride in optimizing Green Batteries graphite for lithium-ion batteries, reinforcing Volt Carbon's commitment to advancing battery technologies, as explicitly stated in the July 24, 2023, press release. Volt Carbon remains dedicated to refining dry processes for converting Green Batteries materials into battery-grade anodes, maximizing value with its mineral processing agreement with Green Battery while driving significant technical progress in the North American battery materials supply chain.

"The constraints on graphite trade in North America have spurred our determination to innovate and develop resources sustainably and cost-effectively within the region. We have determined through testing that high-grade graphite mineral deposits provides significant advantages, making the processing to graphite concentrate and anodes much simpler compared to low-grade deposits. We're on the brink of a great opportunity, and I'm eagerly looking forward to the upcoming results from our highly qualified technical teams," said V-Bond Lee, chief executive officer of Volt Carbon Technologies.

Tom Yingling, president and CEO, states: "We are very impressed with Volt's air separation process. The air separation process maintains the integrity of the large flake which has good crystallinity and capacity for LIB."

In July Green Battery gave Volt 27 tonnes of graphitic material from its Berkwood property. Volt has subsequently crushed, air separated the graphite from that material and created lithium-ion batteries with it.

About the Berkwood graphite project

The Berkwood graphite project is located within the jurisdiction of Quebec, in the Manicouagan regional county municipality, three hours driving time from the city of Baie-Comeau. Easy access is provided via a major secondary road and numerous tertiary and forest roads that traverse the property.

The zone 1 graphite resource lies eight kilometres southwest of Nouveau Monde's deposit, which has a $3.5-billion net present value on it. The company believes its zone 1 resource, and that of Nouveau Monde, share many similar geological characteristics, with zone 1 being exceptionally high grade and coarse flake size by global standards.

The current mineral resource at the Berkwood graphite project includes in-pit constrained resources totalling 1,755,300 tonnes of indicated resources at 17 per cent Cgr (graphitic carbon) and 1,526,400 tonnes in inferred resources at 16.39 per cent Cgr.

The mineral resource estimates herein are described in the technical report entitled "NI 43-101 Technical Report Mineral Resource Estimate on the Lac Gueret South Graphite Property, Quebec, Canada," with an effective date of June 30, 2019, by Edward Lyons, PGeo, Florent Baril, ing, and Claude Duplessis, ing.

Quality assurance/quality control comments

All samples were collected by typical field methods according to Canadian Institute of Mining, Metallurgy and Petroleum best practices, selected samples were collected by representative rock chips into numbered samples bags. A total of five samples (including one blank and one standard) were shipped to ALS Canada Ltd. in Val d'Or. They were prepared (PREP-31a) and analyzed by the lab for carbon (graphite; C-IR18) and for total carbon and total sulphide (ME-IR08). The standard used is an Oreas 723 (5.87 per cent graphitic carbon). Sample analysis results are not yet available.

The historical data presented in this release are derived from public domain reports, the results have not been verified by the author, no subsequent drilling has been completed to confirm the drilled intersections of graphite from LG-13-04N.

About Green Battery Minerals Inc.

Green Battery Minerals is managed by a team with over 150 years collectively with a proven record of not just finding numerous mines but building and operating them too. The Green Battery Mineral management team's most recent success is discovering the Berkwood graphite resource in Northern Quebec. Green Battery Mineral owns this asset 100 per cent, and the company's shareholders will benefit from this asset as the demand for graphite for electric vehicles increases significantly.

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