Mr. Anthony Huston reports

GRAPHITE ONE ANNOUNCES MARKETING SERVICES AGREEMENT

As part of Graphite One Inc.'s continuing strategy to raise the profile of Graphite One and its Graphite One project to investors, the company has entered into a marketing service agreement with Northern Venture Group Inc. to provide marketing services to enhance visibility with the institutional and retail investment community, effective Aug. 1, 2023.

Under the terms of the agreement, Northern Venture will provide research and sector reports, video creation, and digital marketing services to the company for a monthly fee of $5,000 per month for a 12-month period. Upon completion of the service period, the agreement automatically continues on a month-to-month basis until terminated by either party with one-month notice.

Northern Venture is arm's length to the company and currently holds 100,000 common shares and 100,000 common share purchase warrants of the company. The agreement is subject to TSX Venture Exchange approval.

Termination of marketing service agreements

The company also announces the termination of marketing service agreements with TD Media, doing business as Lifewater Media, as initially announced on April 3, 2023, and Outside the Box Capital, as initially announced on March 13, 2023, effective immediately.

Graphite One's supply chain strategy

With the United States currently 100 per cent import dependent for natural graphite, Graphite One is planning to develop a complete United States-based, advanced graphite supply chain solution anchored by the Graphite Creek resource. The Graphite One project plan includes an advanced graphite material and battery anode manufacturing plant expected to be sited in Washington State integrated with the development of the Graphite Creek property. The plan includes a recycling facility to reclaim graphite and the other battery materials, to be co-located at the Washington State site, the third link in Graphite One's circular economy strategy.

About Graphite One Inc.

Graphite One is developing its Graphite One project to become an American producer of high-grade anode materials on a commercial scale integrated with a domestic graphite resource. The project is proposed as a vertically integrated enterprise to mine, process and manufacture anode materials primarily for the lithium-ion electric vehicle battery market. As set forth in the company's 2022 prefeasibility study, graphite mineralization mined from the company's Graphite Creek property, situated on the Seward peninsula approximately 35 miles north of Nome, Alaska, would be processed into concentrate at an adjacent processing plant. Natural and artificial graphite anode materials and other value-added graphite products would be manufactured from the concentrate and other materials at the company's proposed advanced graphite material manufacturing facility expected to be located in Washington State. The company intends to make a production decision on the project upon the completion of a feasibility study.

We seek Safe Harbor.