Alaska Government Officials Recognize Graphite One Project As Significant Infrastructure Project
Vancouver, BC – Graphite One Resources Inc. (TSX-V:GPH | OTCQB:GPHOF) (“Graphite One” or the “Company”) notes that its Graphite Creek development project located near Nome, Alaska was included among the infrastructure projects introduced into testimony to the U.S. Senate Energy and Natural Resources Committee, at its March 30, 2017 hearing, entitled “The potential for infrastructure improvements to create jobs and reduce the cost of living through all-of-the-above energy and mineral production in Alaska.“
In written testimony to the Senate Energy and Natural Resources oversight hearing, Alaska’s State Geologist, Steve Masterman, listed the Graphite Creek Project among the state’s “significant potential development and infrastructure projects.” Mr. Masterman noted:
“The Graphite Creek Project Located on the Seward Peninsula, approximately 50 miles from Nome, this is the largest graphite deposit in the United States and could supply the nation’s graphite needs for decades. Natural graphite is a “Supply Critical Mineral”, and currently there is no domestic production. Infrastructure needed for the project is anticipated to include a 16-mile, all-season access road and a power generating facility. In addition, the project is exploring opportunities to locate their graphite reprocessing facility in Alaska, which, with infrastructure and financing support, would be an additional boost for local employment and economics.”
Joy Baker, Port of Nome director, testified that her agency includes the Graphite One project among its infrastructure priorities:
“The world-class Graphite Creek prospect near Nome has attracted significant interest and it has been characterized as the largest and highest grade large flake graphite deposit in the U.S. Its development is very close and the Port of Nome will play a key role in both in supporting its development, and exporting the raw material for refining in Alaska or in the Lower 48.”
“We are pleased to see Alaska state officials include our project in their infrastructure plans as outlined to the U.S. Senate,” said Anthony Huston, CEO of Graphite One. “Graphite Creek has the potential to provide a secure U.S. source of a material critical to high-tech, green-tech and national security applications.”
The Senate hearing and written testimony can be found at: https://www.energy.senate.gov/public/index.cfm/hearings-and-business-meetings?ID=0293C1AE-DB44-42B1-8EFB-B14AEFAD57E1
Effective April 3, 2017, the Company will be listed on the OTCQB.
About Graphite One
GRAPHITE ONE RESOURCES INC. (GPH: TSX-V; GPHOF: OTCQB) continues to develop its Graphite One Project (the “Project”), whereby the Company could potentially become the dominant American producer of high grade Coated Spherical Graphite (“CSG”) that is integrated with a domestic graphite resource. The Project is proposed as a vertically integrated enterprise to mine, process and manufacture high grade CSG primarily for the lithium-ion electric vehicle battery market. As set forth in the Company’s Preliminary Economic Assessment, potential 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. CSG and other value-added graphite products, would likely be manufactured from the concentrate at the Company’s proposed graphite product 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 Resources Inc. please visit the Company’s website, www.GraphiteOneResources.com or contact:
CEO, President & Director
Tel: (604) 889-4251
Investor Relations Contact
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 are deemed to be forward-looking statements. All statements in this release, other than statements that are clearly historical in nature, 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”.
Forward-looking information in this release includes, but is not limited to, statements regarding the stage and progress of development of the Graphite Creek Project including the ability to create jobs and reduce the cost of living in Alaska, to supply graphite needs for decades, the ability to provide a secure source of graphite to certain industries, the anticipated applications of graphite in high-tech, clean tech, energy storage and national security applications, are all forward-looking statements. 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: (i) volatile stock price, (ii) the results of the product development test work may not be indicative of the advancement of the project as anticipated, or at all, (iii) market prices, (iv) exploitation and exploration successes, (v) continuity of mineralization, (vi) uncertainties related to the ability to obtain necessary permits, licenses and title and delays due to third party opposition, (vii) changes in government policies regarding mining and natural resource exploration and exploitation, (viii) competition faced in securing experienced personnel, access to adequate infrastructure to support mining, processing, development and exploration activities and continued availability of capital and financing, and (ix) 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.