Mr. Fahad Al-Tamimi reports

MASON GRAPHITE ANNOUNCES ACQUISITION OF COMMON SHARES BY ITS CHAIRMAN AND GRANT OF OPTIONS

Mason Graphite Inc.'s chairman Fahad Al-Tamimi has acquired an aggregate of 6,399,500 common shares in the capital of the company. The shares acquired represent approximately 4.53 per cent of the issued and outstanding shares of Mason Graphite.

Prior to the transaction, Mr. Al-Tamimi owned 13,517,337 shares, representing approximately 9.57 per cent of Mason Graphite's issued and outstanding shares. Following the transaction, Mr. Al-Tamimi owns 19,916,837 shares, representing approximately 14.1 per cent of the company's issued and outstanding shares.

Mr. Al-Tamimi commented: "I am delighted to continue to support the company and further bolster my financial commitment. Our graphite project holds global significance amidst the electrification revolution's early days. Geopolitical dynamics underscore the imperative for the world to secure anode material sources beyond China, as we witness a surge in anode capacity announcements in many places around the world. Additionally, our significant ownership in Black Swan Graphene Inc., which is advancing large-scale graphene production for the concrete and polymer industries, fortifies our strategic position."

Disclosure and corporate matters

The transaction was made by Mr. Al-Tamimi for investment purposes. As a significant shareholder and chairman of Mason Graphite, Mr. Al-Tamimi may, depending on market conditions, acquire additional shares or dispose of shares in the future, whether in transactions over the open market or through privately negotiated arrangements or otherwise, subject to a number of factors, including general market conditions, estate planning and investment diversification. Mr. Al-Tamimi has no present intention to acquire or dispose of securities of Mason Graphite.

An early warning report will be filed with the applicable securities regulatory authority in each jurisdiction where Mason Graphite is a reporting issuer and will be available under Mason Graphite's profile on SEDAR+. Mason Graphite's head office is located at 1501 McGill College Ave., 8th floor, Montreal, Que., H3A 3N9, Canada. For further information or to obtain copy of the early warning report, please e-mail info@masongraphite.com or call 416-844-7365.

Mason Graphite is also pleased to announce the appointment of Deena Siblock as the new corporate secretary of the company. With an impressive record of over 20 years in corporate governance and communication, Ms. Siblock brings a wealth of experience to the company's team. She previously held the position of corporate secretary at Arena Minerals Inc., which was recently acquired by Lithium Americas Corp.

Lastly, the company has granted an aggregate of 6.78 million stock options to directors, members of management, consultants and employees of the company, pursuant to its stock option plan. Each option will entitle its holder to purchase one common share of Mason Graphite at a price of 23 cents until July 31, 2028. The option grant is subject to regulatory approval, including the approval of the TSX Venture Exchange.

About Mason Graphite Inc.

Mason is a Canadian corporation focused on seeking investment opportunities. Its strategy is to develop vertical and horizontal integration in the mining industry, with a special focus on industrial and specialty minerals, notably battery-related materials and their byproducts. Its strategy also includes the development of value-added products, notably for green technologies like transport electrification. The company currently owns 100 per cent of the rights to the Lac Gueret deposit, one of the richest graphite deposits in the world, which is under an option and joint venture agreement with Nouveau Monde Graphite Inc. Mason Graphite is also the largest shareholder of Black Swan Graphene Inc., a Canadian publicly traded company, focusing on the large-scale production and commercialization of patented high performance and low-cost graphene products aimed at several industrial sectors, including concrete, polymers, lithium-ion batteries and others.

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