Mr. Anthony Huston reports

GRAPHITE ONE ENGAGES DIGITONIC FOR INVESTOR RELATIONS AND MARKETING CAMPAIGN

As part of its continuing strategy to raise the profile of Graphite One Inc. and its Graphite One project to investors, the company has entered into an agreement with Digitonic Ltd., an investor relations firm based in Glasgow, Scotland, to provide marketing and investor relations services to enhance visibility with the institutional and retail investment community, effective immediately.

Anthony Huston, president and chief executive officer of Graphite One, quotes, "We are thrilled to partner with Digitonic for our upcoming investor relation and marketing campaigns, as we lead up to the anticipated completion of our feasibility study at the end of the fourth quarter 2024."

Under the terms of the agreement, Digitonic will provide content creation, distribution and advertising services focused on the North American market for a monthly fee of $50,000 (U.S.) per month for a 12-month period, subject to early cancellation notice after 90 days from the effective date of the agreement and, thereafter, in accordance with the payment terms. The company may elect to extend the service period on a month-to-month basis with 30 days of advance notice. Digitonic has agreed to comply with all applicable securities laws and the policies of the TSX Venture Exchange in providing its services.

There are no performance factors impacting compensation in the agreement and Digitonic will not receive common shares or options of the company as compensation.

Digitonic is arm's-length to the company and currently does not own, directly or indirectly, any common shares of the company, nor does it have any right or intent to acquire such an interest. The agreement remains subject to TSX Venture Exchange approval and this disclosure is made in accordance with the requirements of TSX-V Policy 3.4 -- Investor Relations, Promotional and Market-Making Activities.

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 its Graphite Creek resource. The Graphite One project plan includes advanced graphite material and battery anode material manufacturing facilities 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 with the manufacturing facilities, the third link in Graphite One's circular economy strategy. The company has leased a site in Niles, Ohio, with an option to purchase and continues to evaluate additional potential sites in Washington State.

About Graphite One Inc.

Graphite One continues to develop its Graphite One project to become an American producer of synthetic and natural anode active materials that is 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 and energy storage systems markets. 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 about 60 kilometres 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 materials manufacturing facility to be located in the contiguous United States. The company has leased a site in Niles, Ohio, with an option to purchase, and continues to evaluate additional potential sites in Washington State. A production decision on the project is anticipated upon the completion of the feasibility study expected in December, 2024.

We seek Safe Harbor.