Uatnan Mining Project

Large, high-grade graphite exploration/development project in Québec, evaluated at the preliminary economic assessment (PEA) level in the Uatnan Mining Project Report. Mineralization is extensive in size and grade and remains open along strike and at depth around an iron-formation anticlinorium core. Resources are estimated at a 5.75% C(g) cut-off based on Mason (2012-2014) and Quinto (2003, 2006) drilling, within an optimized pit. Metallurgical testwork indicates a combined concentrate at ~94.2% carbon. Mineral resources are not reserves and lack demonstrated economic viability.