Mason Graphite Provides Update Regarding Its Corporate Strategy and on Its Commitment to Re-Accelerate the Lac Gueret Project - Seite 3

Update on Battery Material testing: 600 Cycles Reached

Lastly, Mason Graphite is pleased to announce that the Li-ion prototype cells containing Coated Spherical Purified Graphite (“CSPG”) made with graphite coming from its Lac Guéret deposit have reached a new milestone of 600 charge & discharge cycles and the batteries still retain 84% of their initial capacity. The results are presented in the graph below.

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/f8f35687-e476-4325 ...

The batteries are tested at a rate of C/3, meaning 3 hours to charge and 3 hours to discharge, hence completing about 4 full cycles per day. The cathode used is of the NMC532 type. These cycling tests are performed at the National Research Council of Canada laboratories in Boucherville, Quebec. The CSPG being tested was produced at pilot scale in the Company’s own equipment and in equipment at Corem facilities in Quebec City, Quebec. Tests are still ongoing with these batteries to evaluate the full life expectancy of the cells.

About Mason Graphite

Mason Graphite is a Canadian corporation dedicated to the production and transformation of natural graphite. Its strategy includes the development of value-added products, notably for green technologies like transport electrification. The Company also owns 100% of the rights to the Lac Guéret graphite deposit, one of the richest in the world. The Company is managed by an experienced team cumulating many decades of experience in graphite, covering production, sales, as well as research and development.

Mason Graphite Inc. On behalf of the Board of Directors:
“Simon Marcotte, CFA”, Executive Director

For more information:
www.masongraphite.com
Ana Rodrigues at [e-mail] or 1 514 289-3580
Head Office: 3030, boulevard Le Carrefour, suite 600, Laval, Quebec, Canada, H7T 2P5

Consent of the Qualified Person

Jean L'Heureux, Eng., M. Eng., COO for Mason Graphite, and a Qualified Person, as defined by NI 43-101 for Mason Graphite, was responsible for the audit of data presented in this press release and read and approved it.

Cautionary Statements Regarding Mineral Reserves and Resource Estimates:
The Mineral Reserves and the “In-Pit” Mineral Resources are included in the total Measured and Indicated Mineral Resources of 65.5 Mt grading 17.2% Cg (19 Mt of Measured Resources grading 17.9% Cg and 46.5 Mt of Indicated Resources grading 16.9% Cg) that were reported in the Company’s press release dated December 5th, 2018. The Mineral Reserves are the basis of the 25-year Mine Life of the Feasibility Study published on September 25th, 2015 (updated on December 5th, 2018) and are not included in the “In-Pit” Measured and Indicated Mineral Resources of 58 Mt grading 16.3% Cg (which have an equivalent drilling definition). The reference point for the Mineral Reserves estimate is the mill feed. Mineral Resources, which are not Mineral Reserves, do not have demonstrated economic viability and were not included in the mine life or the economics of the Feasibility Study. Environmental, permitting, legal, title, taxation, sociopolitical, marketing, or other relevant issues may materially affect the estimate of Mineral Resources. In addition, there can be no assurance that Mineral Resources in a lower category may be converted to a higher category, or that Mineral Resources may be converted to Mineral Reserves.