GRAPHITE ONE REPORTS
GRAPHITE ADDED TO THE U.S. NATIONAL DEFENSE STOCKPILE
LIST
With CDN $21M in Recent Funding,
Graphite One Continues to Advance the Largest Known Natural
Graphite Deposit in the United States
VANCOUVER, BC / ACCESSWIRE /
October 7, 2021 / Graphite One Inc. (TSXV:GPH)
(OTCQX:GPHOF)
("Graphite One" or the "Company") announces that
graphite was added to the new U.S. National Defense Stockpile (NDS)
Acquisitions List, one of four new materials added for
2022.
"The inclusion of graphite on the National Defense Stockpile list
is another sign of graphite's growing importance," said Anthony
Huston, CEO of Graphite One. "Coupled with the importance of
graphite to three of the four key supply chains recognized by the
June 2021 White House report, it is clear the U.S. Government sees
graphite as essential to both national security and the technology
economy."
The NDS, established by the U.S. Congress in 1939, is a raw
materials-based stockpile meant to decrease or prevent "dependence
upon foreign and single points of supply for strategic and critical
materials needed in times of national emergency".
The last publicly released National Defense Stockpile Requirements
Report included "natural flake graphite" on its watch list
of "shortfall materials" based on modeling against specific
conflict scenarios indicating a projected graphite shortfall of
more than 82,000 metric tons. The U.S. has been 100%
import-dependent for graphite since 1990 with the vast majority of
supply being reliant on graphite production from China.
The United States Government's Interim National Security Guidance
issued March 4, 2021 states as one of the U.S.'s National Security
Priorities that the United States:
"…[W]ill invest in critical stockpiles and ensure that supply
chains for pharmaceuticals, medical equipment, and other critical
materials required during a crisis are not overly reliant on
overseas networks prone to disruption."
The White House supply chain report of June 2021 identified three
technology sectors - advanced semiconductors, "high-capacity
batteries, including Electric Vehicle (EV) batteries", and
pharmaceuticals - as well as "critical minerals and other…
strategic materials" as a fourth supply chain, essential to
technology manufacturing and the Defense Industrial Base. In
addition to being a U.S. Government-listed Critical Mineral,
graphite is an essential material for both the renewable and EV
Battery sectors, and for advanced semiconductor manufacturing.
Graphite is also one of only four USG-listed Critical Minerals
(2018) essential to all six industrial sectors screened by the
USGS, for which the U.S. is both 100% import-dependent, while China
is the world's leading producer.
The U.S. Government Executive Branch action parallels rising
interest in the U.S. Congress on critical minerals including
graphite. The bipartisan infrastructure package ("BIF"), which has
passed the Senate and is waiting for a vote in the House of
Representatives, has a number of items of interest to Graphite One,
including provisions for various pilots, demonstration and research
projects related to the supply of critical minerals.
In particular, the legislation calls for a new program to be
created at the Department of Energy (DOE) to ensure that the United
States has a viable battery materials processing industry to supply
the North American battery supply chain, including enhancing the
domestic processing capacity of minerals necessary for battery
materials and advanced batteries. If passed by the House, projects
to mine and develop critical minerals in Alaska, such as graphite
used in lithium-ion batteries, will be eligible for federal loan
guarantees to help secure funding, while $6B would be available for
battery processing and manufacturing, including grants for
processing facilities, which would help firms looking to produce
and refine battery materials such as graphite and rare earth
elements in Alaska.
For further information on the pending
infrastructure bill and the possible benefits to Alaska, click
here.
Graphite One has completed over CDN $21 million in financing this
year and continues to advance its 100% owned Graphite Creek
deposit. Graphite One's deposit in western Alaska remains the
largest known source of natural graphite in the United
States. According to the World Bank, global graphite
demand for clean energy applications alone - primarily electric
vehicle batteries and energy storage systems -- is expected to rise
by 494% between now and 2050.
Graphite One is developing a complete U.S. based supply chain
solution from mine to advanced graphite materials, including anode
material for lithium-ion battery applications including EV
batteries, as well as advanced graphite for potential uses ranging
from foam fire suppressant to graphite sealants for 5G network
elements and synthetic diamond for semiconductor substrates.
About Graphite One
Inc.
GRAPHITE ONE INC. (TSXV:GPH) (OTCQX:GPHOF) continues to develop its
Graphite One Project (the "Project"), whereby the Company could
potentially become an American producer of high grade Coated
Spherical Graphite ("CSG") that is integrated with a domestic
graphite resource. The Project is proposed as a vertically
integrated enterprise to mine, process and manufacture high grade
CSG primarily for the lithium-ion electric vehicle battery market.
As set forth in the Company's Preliminary Economic Assessment,
potential graphite mineralization mined from the Company's Graphite
Creek Property, is expected to be processed into concentrate at a
graphite processing plant. The proposed processing plant would be
located on the Graphite Creek Property situated on the Seward
Peninsula about 60 kilometers north of Nome, Alaska. CSG and other
value-added graphite products, would likely be manufactured from
the concentrate at the Company's proposed graphite product
manufacturing facility, the location of which is the subject of
further study and analysis. The Company intends to make a
production decision on the Project once a feasibility study is
completed.
On Behalf of the Board of
Directors
"Anthony Huston" (signed)
For more information on Graphite One Inc., please visit the
Company's website, www.GraphiteOneInc.com or contact:
Anthony Huston
CEO, President & Director
Tel: (604) 889-4251
Email: AHuston@GraphiteOneInc.com
Investor Relations Contact
Tel: (604) 684-6730
GPH@kincommunications.com
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
This release includes certain statements that may be deemed to
be forward-looking statements. All statements in this release,
other than statements of historical facts that address actual use
of proceeds including the timing and completion of the anticipated
Pre-Feasibility Study, receipt of regulatory approvals,
implementation of a more established shipment program, exploration
drilling, exploitation activities, future production, establishment
of a processing plant, and events or developments that the Company
expects, are forward-looking statements. Although the Company
believes the expectations expressed in such forward-looking
statements are based on reasonable assumptions, such statements are
not guarantees of future performance and actual results or
developments may differ materially from those in the
forward-looking statements. Factors that could cause actual results
to differ materially from those in forward-looking statements
include market prices, exploitation and exploration successes,
continuity of mineralization, uncertainties related to the ability
to obtain necessary permits, licenses and title and delays due to
third party opposition, changes in government policies regarding
mining and natural resource exploration and exploitation, and
continued availability of capital and financing, and general
economic, market or business conditions. Readers are cautioned not
to place undue reliance on this forward-looking information, which
is given as of the date it is expressed in this press release, and
the Company undertakes no obligation to update publicly or revise
any forward-looking information, except as required by applicable
securities laws. For more information on the Company, investors
should review the Company's continuous disclosure filings that are
available at www.sedar.com.
SOURCE: Graphite One
Inc.
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