Buckingham

The Buckingham Graphite property covers 480 hectares in eight claim blocks and is located 7 kilometres northwest of Buckingham, Quebec, Canada. Gravel roads lead directly to the property and bush roads provide access to the interior.

The Buckingham property is located within the Central Metasedimentary Belt of the Grenville Geologic Province. It is underlain by paragneiss and marble, with associated pegmatite, and amphibolite. Graphite mineralization occurs in two main zones, the Case Zone and the Uncle Zone where it is disseminated in paragneiss and marble as well as in veins and masses within pegmatite and skarn.

Assays of 35 grab samples from the Case zone range from 1.6 to 27.3% Cg and average 28.7% Cg.

BUCKINGHAM PROJECT HECTARES

“Highlights of a recent drilling and trenching program showed 15.0% Cg over eight metres in Trench 2, 7.35% Cg over 12 metres in hole CK17-01, and 6.06% Cg over 88 metres from nine metres that included a higher-grade interval of 20.69% Cg over 8 metres in hole CK17-02.”

AIRBORNE SURVEY

An electromagnetic conductor, identified during an airborne survey in 2016, is coincident with the Case Zone. The conductor stretches over 1.54 kilometres in a northeast-southwest direction and suggests that the Case Zone may be up to 600 metres longer than previously thought.

TRENCHING

Follow up trenching of the conductor along the Case Zone identified graphite mineralization in paragneiss and marble. Highlights of the trench sampling include 8.33% Cg (Carbon as graphite) over 11.3 metres, 2.76%Cg over 15 metres, 2.23% Cg over 27 metres and 1.52% Cg over 65.5 metres.

Buckingham Drill Results

Results from the diamond drilling program at its 100% owned Buckingham graphite project in Quebec. Results have now been received from all six holes, with assays up to 16.64% Cg (carbon as graphite) over 18 metres in drill hole CK18-07.

Highlights of the results received to date include a grade of 6.88% Cg over 62 metres in hole CK18-07, that included 12.75% Cg over 29 metres and included a higher grade 16.64% Cg interval over 18 metres, starting at a depth of 57 metres. A grade of 4.94% Cg was intersected over 66 metres in Hole CK18-09 from six metres, that included higher grade near surface intervals of 14.52% Cg over four metres and 13.52% Cg over three metres. A summary of the results is given in the table below.

Widths are not necessarily true widths as there is currently insufficient information to calculate true widths.

Location and orientation of drillholes

UTM Coordinates: NAD83, Zone 18N

The drilling follows up on positive results of previous work including airborne electromagnetics, trenching and a first stage drill program undertaken during 2016 and 2017. Hole CK-18-06 was drilled to the northwest to test the thickest portion of the 1.54 kilometre long northeast-southwest trending electromagnetic (EM) conductor and intersected low grade graphite mineralization associated with carbonate horizons in quartzo-feldspatic gneiss. Hole CK 18-07 was drilled to the southeast through the conductor between trenches 5 and 6 from the 2017 program. The hole intersected three graphite zones between 30 and 146 metres, with the highest grades associated with marble zones within gneiss. Hole CK18-08 was collared approximately 50m north of hole CK18-06 and drilled to the southeast. It intersected two graphite zones from 46 to 63 metres and from 95 to 108 metres with higher grades again associated with marble horizons. Hole CK18-09 was drilled to the northwest across a narrowing of the EM anomaly and intersected three graphite zones between 6 metres and 157 metres. Graphite mineralization in the near surface zone is associated with intervals of marble within the gneiss. Holes CK18-10 and CK18-11 were drilled across conductors in the vicinity of trench 2 and trench 10, respectively. Both holes showed relatively narrow intervals of graphite associated with marble.

All samples were placed in a plastic sample bag along with a sample tag. Bags were sealed with a single use tie. Samples were securely stored prior to shipping to SGS in Lakefield Ontario. Samples were crushed, milled and roasted and treated by HCl leach prior to being assayed by the combustion infrared technique (LECO). The Company routinely submits standards, duplicates and blanks with sample batches to monitor the quality of the assays.

The technical content of this News Release was reviewed and approved by Roger Moss Ph.D., P.Geo, a qualified person as defined by National Instrument 43-101.