Canada Carbon Inc.

Toronto, ON, Canada, July 12, 2023 (GLOBE NEWSWIRE) — Canada Carbon (the "Company") is pleased to announce that the Municipality of Grenville-sur-la-Rouge ("GSLR"), through a letter from its attorneys and a letter from its authorized municipal officer, has recognized that the Miller graphite mine project (“the Miller Project”), located within GSLR, is a mining project within the meaning of the first paragraph of section 246 of the Act respecting land use planning and development ("RLUPD"), and that the Commission de Protection du Territoire Agricole du Québec ("CPTAQ") may proceed with its analysis, effective immediately.

GSLR hereby acknowledges that its subdivision, zoning, construction, or other by-laws cannot impede the Company's graphite mine project in accordance with the Mining Act and are not enforceable against it. Consequently, GSLR’s attorneys have explicitly acknowledged the validity of the Company’s CPTAQ application.   This recognition by GSLR holds significance, as it allows the CPTAQ to evaluate the Company's authorization application on the merits of the project and without any additional delays.

‘’Canada Carbon has always sought to have the Miller Graphite Project evaluated solely on its merits. That includes the Company’s demonstrated interest in being a good corporate citizen and intent to pursue the development of the project in the most responsible manner. The Company will continue to work closely with all relevant stakeholders to ensure that the Miller project is developed with respect for the highest environmental standards and host communities. We will maintain an ongoing dialogue with the Municipality of Grenville-sur-la-Rouge, regulatory agencies, and other local communities to ensure a responsible and sustainable approach to the development process while ensuring positive economic outcomes for the region the province as a whole." said Ellerton Castor, Chief Executive Officer and Director of Canada Carbon.

“For example, we have already commenced a significant drilling program designed to address certain questions raised about the hydrogeological profile of the project. We will continue to take a similarly proactive approach to the remainder of our licensing and permitting process”.

About Canada Carbon Inc.

Canada Carbon Inc. is a mining exploration and development company focused on the acquisition, exploration and development of graphite deposits. The Company holds a 100% interest in two strategic, past-producing graphite properties located in Quebec: the Miller Graphite Project located in Grenville-Sur-La-Rouge and the Asbury Graphite Mine located in Notre-Dame-du-Laus. Canada Carbon is committed to realizing its potential as a high-quality graphite producer while maintaining the highest standards of social and environmental responsibility. For more information on Canada Carbon's mining activities, please visit our website at www.canadacarbon.com.

CANADA CARBON INC.“Ellerton Castor”Chief Executive Officer and DirectorContact InformationE-mail inquiries: info@canadacarbon.comP: (905) 407-1212