Graphite One Supports EIS Pathway for America's Largest Known Natural Graphite Deposit; No Anticipated Delay to 2029 Graphite Creek Project Startup as U.S. Remains 100% Import Reliant for Natural Graphite
Rhea-AI Summary
Graphite One (OTCQX:GPHOF) supports a full Environmental Impact Statement (EIS) for its Graphite Creek deposit in Alaska, after working with the U.S. Army Corps of Engineers. The company has planned permitting at EIS standards from the start and targets 2029 production startup with no anticipated delay.
Graphite One expects the EIS schedule to align with State of Alaska permitting and is backed by the FAST‑41 program and Bering Straits Native Corporation. The Graphite Creek Project is confirmed as America’s largest known natural graphite deposit, supporting U.S. efforts to reduce 100% reliance on imported natural graphite.
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Positive
- Full EIS selected with no expected delay to 2029 startup
- Permitting work already conducted to EIS-level requirements
- EIS schedule expected to align with State of Alaska permitting
- Support from FAST-41, US Army Corps of Engineers, and BSNC
- Graphite Creek confirmed as America’s largest natural graphite deposit
- Project positioned within U.S. critical minerals and EV supply priorities
Negative
- None.
Comprehensive Review Supported to Address Stakeholder Concerns
Anthony Huston, President and CEO: "Our team has been preparing for this level of review throughout the process, and we remain confident in our ability to deliver this critical domestic graphite supply chain project on our targeted 2029 timeline. We are pleased with the efforts of FAST 41 and USACE to maintain a completion date that is only two (2) years from the original date of filing."
Graphite One concurs with this determination and reiterates its commitment to a public comment process that ensures that all voices are heard and that stakeholder concerns are comprehensively addressed. The Company has been conducting all permitting work at the level required for an EIS from the outset and has maintained a startup schedule structured to allow for the timely completion of an EIS.
Graphite One anticipates that the EIS schedule will align with
"We fully support the Army Corps' recommendation to conduct a comprehensive EIS review. This approach ensures transparency and provides the opportunity for all stakeholders—including local communities, Indigenous groups, and regulatory agencies—to have their voices heard and concerns addressed in a thorough manner," said Anthony Huston, President and CEO of Graphite One. "Our team has been preparing for this level of review throughout the process, and we remain confident in our ability to deliver this critical domestic graphite supply chain project on our targeted 2029 timeline. We value the partnership with the Army Corps and FAST-41 as we work together to responsibly develop America's largest graphite deposit."
Leadership from Bering Straits Native Corporation ("BSNC"), the regional Alaska Native Corporation that made a significant direct investment in Graphite One in 2023, have also signaled their support for a full EIS review of the Graphite Creek Project. Many residents in the communities closest to the project are BSNC shareholders.
"We agree that evaluating the Graphite Creek Project under the full EIS process is in the best interest of everyone involved, Graphite One, investors like BSNC, and most importantly, our shareholders who call the areas near the project home," said BSNC President Cindy Towarak Massie. "Moving forward with an EIS is a more comprehensive approach. It provides additional regulatory clarity for Graphite One's investors and more opportunities for those living near the project, whose families have subsisted on the
The Graphite Creek Project, located on the
About Graphite One Inc.
GRAPHITE ONE INC. continues to develop its Graphite One Project (the "Project"), with the goal of becoming an American producer of high-grade anode materials that is integrated with a domestic graphite resource. The Project is proposed as a vertically integrated enterprise to mine and process natural graphite and to manufacture artificial and natural graphite anode active materials primarily for the lithium-ion electric vehicle battery and energy storage markets.
On Behalf of the Board of Directors
"Anthony Huston" (signed)
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Statements
All statements in this release, other than statements of historical facts, including those related to the EIS process and anticipated timing, the proposed 2029 startup date, any statements related to the planned production of mineral reserves and resources, the construction of facilities, and events or developments that the Company intends, expects, plans, or proposes are forward-looking statements. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "proposes", "expects", "is expected", "scheduled", "estimates", "projects", "plans", "is planning", "intends", "assumes", "believes", "indicates", "to be" or variations of such words and phrases that state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". The Company cautions that there is no certainty that the EIS process will be completed on the timeline or in the manner set forth in this press release, that the Graphite Creek Project will produce the minerals or at the rates set out in the Feasibility Study, or that facilities will be built as planned. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, continuity of mineralization, uncertainties related to the ability to obtain necessary permits, licenses and title and delays due to third party opposition or regulatory processes (including the EIS), changes in government policies regarding mining and natural resource exploration and exploitation, and continued availability of capital and financing, and general economic, market or business conditions. Readers are cautioned not to place undue reliance on this forward-looking information, which is given as of the date it is expressed in this press release, and the Company undertakes no obligation to update publicly or revise any forward-looking information, except as required by applicable securities laws. For more information on the Company, investors should review the Company's continuous disclosure filings that are available at www.sedarplus.ca
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SOURCE Graphite One Inc.