LION Sees path to restarting Graphite Mine

908 – 510 Burrard Street

Vancouver, B.C. V6C 3A8

Lion Sees path to restarting Graphite Mine

LION CSE GBBGF. OTCQB 0TD. F

Vancouver, British Columbia, Canada (October 31th, 2023) – Global Li-Ion Graphite

Corp. (“Global Li-Ion” or, the “Company”) (CSE: LION) is pleased to share the following. The

President of Madagascar has signed the new Malagasy mining code into law. This new code is

structured to better support sustainable development, good minerals and environmental

governance, as well as benefiting the people of Madagascar- all of which aligns with Lion’s

commitment to being a good corporate citizen. This is a very positive step in the realisation of

the Ambato-Arana graphite mining project. Moreover, Madagascar’s Ministry of Mines and

Strategic Resources has confirmed that the mine plan submitted by LION for the development

of the project complies with existing regulatory requirements. The Ministry may ask the

Company to provide specific additional data to its mining plan upon the implementation of the

new mining code, which the government indicates is imminent. LION has prepared such data

and information to meet any further request from the Ministry. The Company is taking all

necessary steps to bring the project back into production.

Chairman Jason Walsh commented “We are very pleased that the signature of the new mining

code accelerates the timeline for us to be able to restart graphite production at our Ambato-

Arana project.”

About Ambato-Arana Graphite Mine, Madagascar

The 3 forty-year renewable mining exploitation licenses that comprise the Project total 4,375

hectares (10,811 acres) are located in the vicinity of Andasibe in Toamasina Province in

Madagascar, 20 km to the southwest of Sheritt’s large-scale nickel/cobalt laterite open pit mine at

Ambatovy and 15 km northeast of the town of Moramanga from which national highway RN2

connects with capital city Antananarivo (114 km) and Madagascar’s main port of Toamisina

(Tamatave) (240 km). Graphite was produced on the licenses, at a modest rate constrained by

the technology employed on the licenses at that time, for roughly a century from 1910. Production

was suspended by the previous owners due to a slump at the time in Global Graphite markets

and with the deposits only partially mined. The deposits are now ready for larger scale exploitation

with modern production techniques. They lie within the graphitic horizons of the highly prospective

Manampotsy Formation and are associated with topographic highs that are exploited via free

digging of lateritic ore and open pit mining, providing a lower cost exploitation without need for

blasting. The graphite mineralization on the Project appears within well-defined north-south belts

with interbedded graphite-rich friable layers. The geological layers of interest have continuity of

several kilometres and exhibit a shallow dip angle. Sample data indicate good grade (up to 10%

carbon content with some samples up to nearly 14%) and large flake (jumbo size) consistent with

other nearby mines e.g. Gallois (Elate Graphite), Sahamamy & Vatomina (Tirupati Graphite) and

DNI Metals’ Vohitsara (DNI Metals).

Further information about Global Li-Ion is available under its profile on the SEDAR website,

www.sedar.com, on the CSE website, www.thecse.com, and the Company’s website,

www.globalli-iongraphite.com.

For Further information about the Company, please contact:

Jason Walsh

Global Li-Ion Graphite Corp.

Telephone 604.608.6314

Email: [email protected]

Neither the Canadian Securities Exchange nor its regulation services provider have reviewed or

accept responsibility for the adequacy or accuracy of this press release.

Forward-Looking Information:

This press release contains forward-looking statements. The use of any of the words “anticipate”,

“continue”, “estimate”, “expect”, “may”, “will”, “project”, “intend”, “believe” and similar expressions

are intended to identify forward-looking statements. Although the Company believes that the

expectations and assumptions on which the forward-looking statements are based are

reasonable, undue reliance should not be placed on the forward-looking statements because the

Company can give no assurance that they will prove to be correct. Since forward-looking

statements address future events and conditions, by their very nature they involve inherent risks

and uncertainties. These statements speak only as of the date of this press release. Actual results

could differ materially from those currently anticipated due to a number of factors and risks

discussed in the Company's Management's Discussion and Analysis under the Company's profile

on www.sedar.com. While the Company may elect to, it does not undertake to update this

information at any particular time.

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the

securities in the United States. The securities have not been and will not be registered under the

United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state

securities laws and may not be offered or sold within the United States unless registered under

the U.S. Securities Act and applicable state securities laws or an exemption from such registration

is available.