April 15, 2015 – Vancouver, B.C. – Graphite One Resources Inc. (TSX-V:GPH |OTCQX:GPHOF) ("Graphite One" or the "Company") is pleased to announce it has received TRU Group Inc.’s (“TRU”) Stage B Report, a study of the Alaska Graphite Creek Project (“Project”), dated April 6, 2015 (“Stage B Report”). The work done by TRU revealed the existence of distinct properties of the Graphite Creek mineralization As identified by TRU, these distinguishing features can be described as Spheroidal, Thin, Aggregate and EXpanded, or STAX – and the Company is applying for registration of the trademark STAX in association with Graphite Creek graphite. The Company believes that STAX has the potential to have a positive impact on the Preliminary Economic Assessment (“PEA”).
“TRU’s study reveals the unique characteristics of the Graphite Creek mineralization and we believe the STAX trademark succinctly captures these features,” stated Anthony Huston, President and CEO. “Additional research and development is necessary to round out these findings and determine how these unique features may impact the development of the Project. We are excited to move forward with these results.”
As a result of the importance of this development, Graphite One is briefly suspending work on its PEA of the Project in order to incorporate the findings from the Stage B Report into the PEA. The Company and TRU cautions that significant additional research and development (“R&D”) is required to firm-up these findings for the Project.
“The discovery of this unique graphite, named STAX, is of notable scientific interest”, says TRU President, Edward R Anderson. “We are anxious to delve more deeply into the ‘natural’ character of STAX and assess how those characteristics impact processing of graphite into finished products.”
As background information, the Company presents the following summary of the two TRU reports commissioned and received to date.
Stage A Report:
The Stage A Report, Development Options for the Graphite Creek Project, was released in June 2014 and identified development options for the Project which focused on matching the resources to up-market functionalized end uses for graphite. Quoting from the Stage A Report:
“At the current stage of analysis, [there are some] key unique positives of the Graphite Creek Project that merit further investigation and analysis. Elucidation of the Stage A concepts will be undertaken in Stage B of the assignment and will define the basic parameters of the integrated graphite facility, determine broad viability ±45% and define future steps for implementation.”
Stage B Report:
The Stage B Report is a study of the options identified in the Stage A Report and a summary of the testwork completed to determine the characteristics of the Project’s graphite. The Stage B Report describes the unique characteristics of the Graphite Creek graphite and identified the need for additional R&D to more fully understand the characteristics and the impact this has on processing and finished products.
STAX Graphite Characterization Testwork
One objective of TRU’s assignment was to undertake testwork to determine the characteristics of the Project’s graphite. Detailed analyses of samples from six, high-grade drill holes across the length of the deposit were conducted. The characterization techniques used were:
Important conclusions resulting from this characterization testwork include findings of:
1. Spheroidal Shaped Graphite: Naturally occurring graphite in the shape of spheres and close to the size ranges of interest for lithium ion battery-grade graphite was seen in all drill-hole concentrate samples.
2. High Proportions of Coarse Flake Graphite with High Aspect Ratios: Screening analysis and optical microscopy demonstrated significant proportions (7-10% or more) of thin, coarse, large flake graphite (+20 mesh, +25-30 mesh). This included “pressed flake” or aggregated graphite particles some in the shape of flakes, alongside integral classic flake and both with high aspect ratios.
3. Naturally Expanded/Exfoliated Flake Graphite: There exists naturally occurring flake graphite with particle architecture closely matching that of expanded graphite.
As this may impact the strategic direction of the Company, Graphite One is now assessing the Stage B Report to determine the next steps in incorporating the results into the PEA.
David Hembree, C.P.Geol., General Manager Operations for the Company and a “Qualified Person” under NI 43-101, is responsible for and has reviewed and approved the technical content of this news release.
About TRU Group Inc.
TRU is an engineering firm focussed on niche technology intensive industries, which includes the graphite-graphene sector. Our specialized Graphite-Graphene Team employs globally recognized technical leaders with long standing careers in graphite as well as state-of-the-art highly qualified engineer-scientists in graphite. We access a graphite-dedicated laboratory for our work.
About Graphite One Resources Inc.
Graphite One Resources Inc. (TSX-V:GPH |OTCQX:GPHOF) is exploring, with the intent to develop the Graphite Creek Project in Alaska, USA’s largest known large flake graphite deposit. The Project is moving from the exploration to the evaluation phase.
ON BEHALF OF THE BOARD OF DIRECTORS
"Anthony Huston” (signed)
For more information on Graphite One Resources Inc. please visit the Company’s website, www.GraphiteOneResources.com or contact:
President, CEO & Director
Tel: (604) 697-2862
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 timing of receipt of regulatory approvals, exploration drilling, exploitation activities, outcome of additional research and development and events or developments that the Company expects, are forward-looking statements. Forward-looking information in this news release includes statements about, the potential existence, characteristics and size of mineralization within the Graphite Creek Project; estimated timing and amount of future expenditures,including any reduction in costs of processing concentrate into finished products, recommendations for future work on the Graphite Creek Project, the preparation of a Preliminary Economic Assessment for the Graphite Creek Project, potential range of applications in target markets, geological interpretations and statements about Graphite One’s strategy, future operations and prospects. Information concerning inferred mineral resource estimates also may be deemed to be forward-looking information in that it reflects a prediction of the mineralization that would be encountered if a mineral deposit were developed and mined. Information concerning inferred mineral resources estimates also may be deemed to be forward-looking information in that it reflects a prediction of the mineralization that would be encountered if a mineral deposit were developed and mined. 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, actual characterization of the 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 that is expressed in this news 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.