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GPH: TSX‐V GPHOF: OTCQX graphiteoneinc.com Graphite One Advances Foam Fire Suppression Test Work at the U.S. Naval Air Warfare Center Graphite One Material Being Assessed at Naval Research Lab and Joint DoD -DOE- EPA Strategic Research Center

Metallurgy & Processing

GPH: TSX‐V GPHOF: OTCQX

graphiteoneinc.com

Graphite One Advances Foam Fire

Suppression Test Work at the U.S. Naval

Air Warfare Center

Graphite One Material Being Assessed at Naval Research Lab and Joint DoD -DOE-

EPA Strategic Research Center

Progress Comes as U.S. Law Requires Adoption of New Foam Fire Suppressant Cited

as Part of a $18.3B Global Market Opportunity

February 15, 2022 – Vancouver, British Columbia –Graphite One Inc. (GPH: TSX‐V;

GPHOF: OTCQX) (“Graphite One” or the “Company”) is pleased to announce a

milestone in test work completed at the U.S. Navy’s Naval Air Weapons Station China Lake

in California (“NAWS China Lake”), to pursue the Pre-feasibility Study-level validation of

technology using a biodegradable fire retardant foam made with a composite of materials

from Graphite One in extinguishing Class B fuel fires. The foam was developed by Graphite

One’s technology development partner, American Energy Technologies Company of

Arlington Heights, Illinois.

“While Graphite One’s primary focus remains the production of lithium-ion battery anode

grade material, our foam fire suppressant work is a prime example of the advanced graphite

material opportunities in markets outside of the renewable energy sector,” said Anthony

Huston, President and CEO of Graphite One.

"New liquid foam fire suppressants are critical to saving lives and safeguarding the

environment and we are honored by the interest shown in the Company’s material by the

U.S. Navy and other U.S Government departments and agencies." added Mr. Huston. "The

global fire suppression market for systems and their related materials is expected to reach

$18.3 billion by 20261, so this milestone represents an exciting opportunity for Graphite One

to be part of this rapidly-expanding market.“

With the U.S. 100% import-dependent for natural graphite, Graphite One is developing a

complete U.S.-based, advanced graphite supply chain solution, anchored by the Company’s

Graphite Creek resource near Nome, Alaska, North America’s largest known graphite

deposit. The Graphite One Project plan includes an advanced graphite material and battery

1 https://www.reportlinker.com/p06095157/Fire-Suppression-Market-Report-Trends-Forecast-and-

Competitive-Analysis.html

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graphiteoneinc.com

anode manufacturing plant to be sited in the continental U.S. with development of its

Graphite Creek resource.

The Graphite One material tests were conducted by a team of firefighting professionals at

the U.S. Navy’s Fire Science and Technology Office, Combustion Sciences & Propulsion

Branch at NAWS China Lake, north of Los Angeles, California. In the test work, a composite

blend of material from Graphite One’s Graphite Creek deposit (including +80-mesh fraction)

was formulated into a pigment component of an innovative biodegradable fire retardant

foam, intended to replace the current Military Specification (MilSpec) Aqueous Film F orming

Foams (AFFF). Test results of experiments performed by the U.S. Government indicate that

the foam formulation that contains Graphite Creek material can extinguish Class B fires and

therefore could meet the firefighting standards defined in the MilSpec.

This development work is timely, given that the 2020 National Defense Authorization Act

(NDAA) ordered that AFFF must be phased out of use by October 2024 due to the dangers

the material poses to the environment and human health. As of the 2024 deadli ne, AFFF

agents will not be available for use in the event of an aircraft emergency involving Class B

fires at any military installations or airfields.

According to a recent report by Reportlinker.com1, the global market for fire suppression

systems and their related materials is expected to reach $18.3 billion by 2026 with a

compound annual growth rate of 4.4% from 2020 to 2026, driven by the increasing number

of fire incidents, stricter fire safety regulations, and growth in the construction industry.

“Until now, there has been no viable solution to AFFF chemistry that is environmentally -

benign,” continued Mr. Huston, “which makes the potential of fluorine-free formulations

containing expandable graphite from Graphite One such a promising alternative.”

Following the test work with Graphite One’s material at NAWS China Lake, Graphite One’s

foam fire suppressant material was submitted to the Strategic Environmental Research and

Development Program (SERDP), DoD’s environmental science and technology program,

executed in partnership with DOE and EPA. Additional Graphite One material was

submitted for evaluation by the Naval Research Laboratory (NRL) at NRL’s request.

Pre-Feasibility Update

Graphite One remains on track and anticipates publishing its Pre-Feasibility Study in Q1

2022.

The Company will report as warranted on results of the NAWS China Lake, NRL, and DoD-

DOE-EPA test work and other demonstrations of advanced graphite material applications.

About Graphite One Inc.

GRAPHITE ONE INC. (GPH: TSX‐V; GPHOF: OTCQB) continues to develop its Graphite

One Project (the “Project”), whereby the Company could potentially become an American

producer of high grade anode materials that is integrated with a domestic graphite

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graphiteoneinc.com

resource. The Project is proposed as a vertically integrated enterprise to mine, process and

manufacture high grade anode materials primarily for the lithium‐ion electric vehicle battery

market. As set forth in the Company’s Preliminary Economic Assessment, poten tial

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. Graphite anodes and other value‐added

graphite products would be manufactured from the concentrate and other materials at the

Company’s proposed advanced graphite materials 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: [email protected]

Investor Relations Contact

Tel: (604) 684-6730

[email protected]

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.

All statements in this release, other than statements of historical facts, including those

related to the actual results of the test work conducted at NAWS China Lake and the

outcome of the evaluation by NRL, timing and completion of the anticipated Pre-Feasibility

Study, future production, establishment of a processing plant and a graphite manufacturing

plant, and events or developments that the Company intends, expects, plans, or proposes

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graphiteoneinc.com

are forward-looking statements Generally, forward‐looking information can be identified by

the use of forward‐looking terminology such as “proposes”, “expects”, or “is expected”,

“scheduled”, “estimates”, “projects”, “intends”, “assumes”, “believes”, “indicates” or

variations of such words and phrases that state that certain actions, events or results

“may”, “could”, “would”, “might” or “will be taken”, “occur” or “be achieved”. The Company

cautions that there is no certainty that tests of the Company’s material will be successful or

that such tests will result in the development of successful products. 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.