This press release contains “forward-looking information” including FOFI (as defined below) and financial outlook within the meaning of applicable Canadian securities legislation. Forward-looking information includes, without limitation, statements regarding the development of the La Loutre project in the PFS, mineralized material processing, highlights of the PFS including the pre and after tax IRR, annual production rates, long-term weighted-average graphite prices, the mine life, after-tax payback, capital expenditures at the project, outlines of processing and production potential, projected mining operations under the PFS, information respecting a Mineral Reserve Estimate, capital and operating costs under the PFS, location of potential mining at the project, mine design, processing, project infrastructure, permitting and studies including an environmental permitting and impact assessment process, and advancement of a Feasibility Study including collection of additional data for the Feasibility Study. Generally, forward-looking information can be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be achieved”.