Mr. Anthony Huston reports

GRAPHITE ONE PROVIDES FAST-41 PERMITTING UPDATE FOR GRAPHITE CREEK PROJECT

Graphite One Inc. has provided an update on the permitting progress of its flagship Graphite Creek project under the FAST-41 federal permitting program.

The Graphite Creek project -- planned as an open-pit graphite mine and associated mineral processing plant located approximately 60 kilometres (37 miles) north of Nome, Alaska -- was accepted as a FAST-41 covered project on June 2, 2025, becoming the first Alaska mining project to be listed on the FAST-41 federal permitting dashboard. Following the 60-day co-ordinated project plan (CPP) process, the detailed permitting timetable was publicly posted on Aug. 5, 2025. The CPP established a clear 13.5-month schedule for the required federal environmental reviews and authorizations, with a projected completion date of Sept. 29, 2026.

As of the latest dashboard update, the project remains "in progress" under the leadership of the U.S. Army Corps of Engineers. The company continues to advance all required federal reviews on schedule, with full transparency provided to the public through the federal permitting dashboard.

"FAST-41 has delivered exactly what it was designed to do -- improved timeliness, predictability and accountability across multiple federal agencies without changing any environmental or regulatory standards," said Anthony Huston, president and chief executive officer of Graphite One. "By establishing a co-ordinated, publicly posted timetable and bringing all agencies together early, FAST-41 is accelerating our ability to develop America's largest graphite deposit and establish a secure, domestic supply chain for lithium-ion battery anode materials and other critical graphite products across a range of technology sectors."

Why FAST-41 matters

Enacted in 2015 as Title 41 of the Fixing America's Surface Transportation (FAST) Act, FAST-41 streamlines the federal permitting process for major infrastructure and critical minerals projects by:

• Co-ordinating environmental reviews and authorizations among multiple federal agencies;
• Establishing and publicly posting clear timelines and milestones;
• Enhancing transparency and accountability for all stakeholders, including the public, indigenous communities and project proponents;
• Reducing overall permitting uncertainty and delays that have historically slowed U.S. domestic resource development.

For Graphite One, FAST-41 status is especially significant as the United States remains 100 per cent import dependent on foreign graphite -- primarily from China -- for rechargeable battery, energy storage systems and other high-technology applications. Graphite One's project directly supports national priorities outlined in recent presidential executive orders on critical minerals and Alaska resource development by helping bring strategic projects on line faster and more predictably.

"Graphite One is proud to have been the first Alaska mining company added to the FAST-41 dashboard," added Mr. Huston. "We look forward to pursuing FAST-41 coverage for our planned advanced graphite materials and battery anode manufacturing facility in Ohio, which will process Graphite Creek concentrate into high-value anode active material for the U.S. electric vehicle sector, energy storage, AI [artificial intelligence] data centres and defence markets." Once built, the inclusion of the Ohio manufacturing operations under FAST-41 would further streamline the full vertically integrated supply chain and reinforce America's critical minerals security.

Graphite One's domestic supply chain strategy

With the United States currently 100 per cent import dependent for natural graphite, Graphite One is developing a complete U.S.-based, advanced graphite supply chain solution anchored by the Graphite Creek deposit, recognized by the U.S. Geological Survey as the largest graphite deposit in the United States and among the largest in the world. The Graphite One project supply chain strategy involves transporting material to the lower 48 through the port of Nome to an anticipated advanced graphite material and battery anode material manufacturing plant to be located in Ohio, subject to project financing. The plan also includes a potential recycling facility to reclaim graphite and the other battery materials, to be co-located at the Ohio site, also subject to financing, which would be the third link in Graphite One's circular economy strategy.

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.

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