Ceylon Graphite files Karasnagala technical report

Feb 23, 2022

2022-02-22 18:16 ET – News Release

Mr. Don Baxter reports

CEYLON GRAPHITE FILES NI 43-101 TECHNICAL REPORT FOR KARASNAGALA GRAPHITE PROJECT

Ceylon Graphite Corp. has filed a technical report titled, “Technical Report on the Karasnagala (K1) Exploitation License on the K1 vein graphite project in Sri Lanka,” prepared by Dr. Christian Derosier, PGeo, in accordance with National Instrument 43-101, Standards of Disclosure for Mineral Projects. As reported in the Company’s news release dated December 13, 2021, the 2022 Technical Report is the current NI 43-101 Technical Report on K1, replacing prior filed technical reports, and includes a description of the K1 vein graphite deposit initial mineral resource estimate.

The 2022 Technical Report can be found on SEDAR at www.sedar.com and on the Company’s website at www.ceylongraphite.com

QUALIFIED PERSON

Donald K. D. Baxter, P.Eng., CEO of Ceylon Graphite Corp., is a Qualified Person as defined by National Instrument 43-101 (“NI 43-101”) guidelines, and has reviewed and approved the content of this news release.

About Ceylon Graphite Corp.

Ceylon Graphite is a public company listed on the TSX Venture Exchange, that is in the business of mining for graphite, and developing and commercializing innovative graphene and graphite applications and products. Graphite mined in Sri Lanka is known to be some of the purest in the world and has been confirmed to be suitable to be easily upgradable for a range of applications including the high-growth electric vehicle and battery storage markets as well as construction, healthcare and paints and coatings sectors. The Government of Sri Lanka has granted the Company’s wholly owned subsidiary Sarcon Development (Pvt) Ltd. an IML Category A license for its K1 mine and exploration rights in a land package of over 120km Superscript 2. These exploration grids (each one square kilometer in area) cover areas of historic graphite production from the early twentieth century and represent a majority of the known graphite occurrences in Sri Lanka.

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https://www.ceylongraphite.com/