Mr. Anthony Huston reports

GRAPHITE ONE ANNOUNCES WARRANT EXTENSION

Graphite One Inc. is intending to extend the expiry date of an aggregate 2,802,690 outstanding common share purchase warrants due to expire on Sept. 17, 2025, all of which are held by Bering Straits Native Corp. BSNC is a strategic partner at the company's Graphite Creek project.

The warrants were issued in connection with a private placement transaction that closed on Sept. 17, 2023, and are currently exercisable at $1.21 per common share.

Under the proposed amendment to the warrants, the company proposes to extend the expiry date for a further one year to Sept. 17, 2026, with all other terms of the warrants remaining the same. The proposed amendment is subject to approval by the TSX Venture Exchange.

Formed in 1972, BSNC is the regional Alaska native corporation for the Bering Strait region, which includes the Seward peninsula in western Alaska and the coastal lands surrounding Norton Sound. The Graphite Creek project is located on state and private land in the BSNC region.

About Graphite One Inc.

Graphite One continues to develop its Graphite One project with the goal of becoming an American producer of high-grade anode materials that is integrated with a domestic graphite resource. The project is proposed as a vertically integrated enterprise to mine and process natural graphite and to manufacture artificial and natural graphite anode active materials primarily for the lithium-ion electric vehicle battery and energy storage markets.

We seek Safe Harbor.