CANADA CARBON TO REQUEST PUBLIC HEARING BEFORE CPTAQ ON MILLER GRAPHITE PROJECT

Toronto, ON, Oct. 17, 2023 (GLOBE NEWSWIRE) -- Canada Carbon Inc. (the "Company" or "CCB"), (TSX-V:CCB), (FF:U7N1) strongly reaffirmed its commitment to the Miller graphite mining project (the “Miller Project”), located in Grenville-sur-la-Rouge ("GSLR"). The Miller Project will provide a mineral essential to the battery industry aimed at decarbonizing Quebec, electrification and the fight against climate change, a key objective of the Quebec and Canadian governments.

Following the Preliminary Orientation released by the Commission de protection du territoire agricole du Québec ("CPTAQ") in connection with the Miller Project, the Company wishes to confirm its ongoing commitment to bringing the project into production. CCB would like to share the following observations about the CPTAQ process:

• The Company is clear that it is fairly normal, at this stage, for CPTAQ to issue a negative Preliminary Orientation with an eye toward ensuring that a project proponent optimizes a development plan.
• The Preliminary Orientation has clearly not taken into account all available studies, empirical data and analyses, as well as the full range of potential solutions offered.
• As part of its commitment to transparency and collaboration, the company is calling for a public hearing to present all of the aforementioned studies and data to the commissioners and the public, so that any and all concerns can be addressed.
  
  

Concerns raised

In response to the concerns expressed by the CPTAQ regarding the potential impact of the project on agricultural lands and sugar maples, Canada Carbon made a clear and explicit commitment in its application to the CPTAQ. As stated in the Company’s previous communications (see press release of May 24, 2023), CCB has developed an ambitious restoration plan aimed at achieving no net loss in maple syrup potential. For each maple felled, at least one new tree will be replanted. In addition, maple syrup production facilities will be integrated into the preserved forest areas in the first year of the project, guaranteeing higher maple syrup production capacity than currently exists.

Canada Carbon has already conducted an in-depth hydro-geological study to assess and minimize the impact on water resources essential to agriculture. The Company anticipates that this study will convincingly address the CPTAQ's concerns, attesting to minimal localized impacts, with no negative consequences on the water table or neighboring agricultural activities.