Ceylon Graphite Commences Expanded 2021 Drill Program - Seite 2

The updated 2021 drilling program has been designed to:

• Follow up the successful 2019 drill campaign at the H1 site
• Assess VLF data (conductivity) to understand vein direction
• Develop additional drill targets along known veins to help identify quantity and depth as well as identify offshoot veins, vein intersections and caverns.
• Confirmation and formalization of resource estimate for H1 over the following 6 months
• Start geological work and drilling in the rest of the 10 prioritized grids with the second Sarcon drill.
• Provide sufficient date to file 43-101 compliant resource reports for each site.
• Oversight of the drilling program by Senior Consultant Geologist Dr. Ranjith Premasiri. Dr. Premasiri has a PhD In Geophysics from the United Kingdom and is a Chartered Geologist. He is a Professor in the Department of Earth Resources at Moratuwa University in Sri Lanka (Department Head 2016-2019). He has also worked at the Geological Society and Mines Bureau of Sri Lanka. He is currently the President of the Geological Society of Sri Lanka and was General Secretary of the Institute of Geology, Sri Lanka 2009 – 2016.
  

Qualified Person

Donald K.D. Baxter, P. Eng is a Qualified Person under National Instrument 43-101 and has reviewed and approved the geological information provided in 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 site and exploration rights in a land package of over 120km². 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.