Volt Carbon Signs Vermiculite Toll Agreement Utilizing Its Patented Air Classifier for a Minimum Annual Volume of 40,000 Tonnes

Rhea-AI Summary

Volt Carbon (OTCQB:TORVF) signed a Commercial Toll Processing Agreement with Northern Ore Resources, the first commercial use of its patented Air Classifier. The deal includes a minimum 40,000 tonnes/year of vermiculite and a USD $4.0 million minimum annual revenue commitment.

Volt will also receive 2.5% equity in Northern Ore and a framework for future graphite commercialization, including at least 10,000 tonnes/year of graphite feed. Volt estimates about USD $750,000 in capex and targets ramping commercial operations in 2027–2028.

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Positive

• Minimum 40,000 tonnes/year vermiculite volume under tolling agreement
• Contractual minimum annual revenue commitment of USD $4.0 million
• Volt to receive 2.5% equity interest in Northern Ore
• Framework for at least 10,000 tonnes/year graphite feed supply
• Planned equal profit sharing on future value-added graphite products
• First commercial deployment of Volt’s patented Air Classifier technology

Negative

• Graphite test work is preliminary and not necessarily representative of a resource
• Commercial graphite program remains subject to further testing and product qualification
• Volt expects only modest processing revenues for the remainder of 2026
• Estimated USD $750,000 capex required for larger commercial Air Classifier
• Commercial operations depend on equipment commissioning and customer material deliveries
• Full processing throughput not expected until 2028

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Calgary, Alberta--(Newsfile Corp. - July 7, 2026) - Volt Carbon Technologies Inc. (TSXV: VCT) (OTCQB: TORVF) (BE: WNF) ("VCT", "Volt" or "Volt Carbon") is pleased to announce that it has entered into a Commercial Toll Processing Agreement (the "Agreement") with Northern Ore Resources Inc. ("Northern Ore" or "NOR") on July 3^rd 2026, marking the first commercial deployment of the Company's patented Air Classifier with an initial one-year term which automatically renews for successive one-year terms unless terminated in accordance with its provisions.

The Agreement provides for a minimum annual committed processing volume of 40,000 metric tonnes of vermiculite and a contractual minimum annual revenue commitment of USD $4.0 million, subject to the terms and conditions of the Agreement including the satisfaction of mutually agreed recovery rates. Concurrently, the parties entered into a Share Issuance Agreement pursuant to which Volt will receive a 2.5% equity interest in Northern Ore, subject to required approvals and the terms of the Share Issuance Agreement.

In addition to the vermiculite processing program, Northern Ore has identified a high-grade graphite occurrence on its property. Six rock samples, selected by Northern Ore as being representative of the graphite-bearing vein, were submitted to Volt Carbon's Guelph laboratory for thermogravimetric analysis (TGA). The unseparated samples averaged approximately 49.8% graphite (Cg), with four of the six samples returning graphite grades in excess of 50% Cg. Initial Air Classifier processing trials demonstrated the potential to produce flake graphite concentrates. The testing completed to date is preliminary in nature, based on a limited number of samples provided by Northern Ore, and is not necessarily representative of the overall graphite occurrence, any mineral resource, or future commercial production results.

The Agreement establishes a framework for the future commercialization of this graphite resource and includes a contractual commitment by Northern Ore to supply a minimum of 10,000 tonnes of graphite material annually to Volt for processing. The graphite program remains subject to laboratory testing, Air Classifier trials and product qualification. Subject to successful completion of this work, the parties intend to negotiate a downstream commercial agreement for the production of flake graphite concentrates and graphene products. The parties currently intend that profits from these value-added products will be shared equally, subject to the execution of definitive agreements.

For the remainder of 2026, the Company expects to generate modest processing revenues consistent with the operational outlook disclosed in its May 6, 2026, news release while completing engineering integration, equipment commissioning and process optimization activities in preparation for commercial operations under the Agreement. Actual results may differ from the expectations described in this news release.

The Company intends to commence development activities utilizing its second Air Classifier, previously announced in the Company's July 16, 2025, news release, to support customer qualification and process optimization. Over the following 18 months, the Company expects to design, construct and commission a larger commercial Air Classifier to support the minimum annual committed processing volume under the Agreement. Based on current engineering estimates, the Company anticipates capital expenditures of approximately USD $750,000 for equipment fabrication, installation and commissioning to support commercial operations under the Agreement.

Subject to equipment commissioning, customer material deliveries and other customary operating conditions, Volt anticipates commencing and ramping commercial operations under the Agreement during 2027, with processing capacity expected to ramp up to full throughput during 2028.

"This agreement marks an important milestone in the commercialization of our technology," said V- Bond Lee, P.Eng., CEO of Volt Carbon Technologies. "Our investment in developing and protecting this intellectual property was always aimed at creating a mineral upgrading platform for the mining and quarry industries, not just graphite. While there is still plenty of work ahead, this agreement is an important first step toward realizing that vision."

About Volt Carbon Technologies
Volt Carbon is a publicly traded carbon science company focused on advanced carbon materials, energy storage, and green energy technologies. The Company is developing a vertically integrated platform designed to transform natural graphite resources into high value carbon products, including graphite concentrates, graphene, battery materials, and lithium batteries. Volt Carbon holds mineral interests in Quebec and British Columbia, Canada, and operates facilities supporting both carbon material processing and battery technology development. For the latest information on the Company, its projects, and corporate developments, please visit www.voltcarbontech.com.

On behalf of the Board of Directors of Volt Carbon Technologies Inc,
V-Bond Lee, P. Eng.
CEO, President, Chairman of the Board and Director

Contacts:
Email: info@voltcarbontech.com
Tel: (519-763-1197)

Neither 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.

ADVISORY: This press release contains forward-looking statements and future oriented financial information, within the meaning of applicable securities legislation, concerning Volt's business and affairs. These statements relate to future events. In certain cases, forward-looking statements can be identified by the use of words such as "plans", "expects" or "does not expect", "intends", "budget", "scheduled", "estimates", "forecasts", "goals", "aims", "anticipates" or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might", "will" or "will be taken", "occur" or "be achieved".

These forward-looking statements are based on current expectations and are naturally subject to uncertainty and changes in circumstances that may cause actual results to differ materially. Forward-looking statements involve significant risks and uncertainties, should not be read as guarantees of future performance or results, and will not necessarily be accurate indications of whether or not such results will be achieved. Such statements include those with respect to: (i) the anticipated benefits of the Commercial Toll Processing Agreement with Northern Ore; (ii) the expected processing of vermiculite and graphite materials utilizing the Company's patented Air Classifier; (iii) the contractual minimum annual revenue commitment under the Agreement remains in effect according to its terms (iv) the anticipated issuance of a 2.5% equity interest in Northern Ore; (v) the commencement of development activities utilizing the Company's second Air Classifier; (vi) the anticipated timing of the construction and commissioning of a larger commercial Air Classifier; (vii) the anticipated timing of commercial operations and processing capacity expansion; (viii) the future commercialization of Northern Ore's graphite resource; (ix) the negotiation and execution of a downstream commercial agreement relating to graphite; and (x) the production of flake graphite, graphene and other value added carbon products.

All the forward-looking statements made in this press release are qualified by these cautionary statements. Readers are cautioned not to place undue reliance on such forward-looking statements. Forward-looking information is provided as of the date of this press release, and Volt assumes no obligation to update or revise them to reflect new events or circumstances, except as may be required under applicable securities legislation.

The future oriented financial information regarding the Company's estimate of generating annual minimum gross revenue in the amount of USD$4 million from the Agreement contained in this news release was approved by management as of the date hereof and is based on certain assumptions that management believes are reasonable in the circumstances including the ability of the Company to fulfill its obligations under Agreement generally; (i) the ability of the Company to process the volumes of vermiculite and graphite materials utilizing the Company's patented Air Classifier as required pursuant to the Agreement, (ii) the anticipated timing of the commencement of development activities utilizing the Company's second Air Classifier; (iii) the anticipated timing of the construction and commissioning of a larger commercial Air Classifier; (iv) the assumption that the Company will have the financial resources to construct and commission the larger commercial Air Classifier; (v) the anticipated timing of the commencement of commercial operations and processing capacity expansion; (vi) the ability of Northern Ore to source and supply the required volumes of vermiculite and graphite materials for processing by Volt; and (vii) The Company's expectation of generating modest processing revenues during the remainder of 2026; The purpose of the future oriented financial information contained herein is to disclose the anticipated economic value of the Agreement and readers are cautioned that such information may not be appropriate for other purposes.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/304173

FAQ

What is Volt Carbon (OTCQB:TORVF) vermiculite toll processing agreement with Northern Ore announced in July 2026?

Volt Carbon signed a Commercial Toll Processing Agreement with Northern Ore, covering vermiculite processing using Volt’s patented Air Classifier. According to Volt Carbon, the contract includes a minimum 40,000 tonnes of vermiculite per year and a USD $4.0 million minimum annual revenue commitment.

How much annual revenue could Volt Carbon (TORVF) receive from the new vermiculite tolling deal?

Volt Carbon reports a contractual minimum annual revenue commitment of USD $4.0 million under the vermiculite toll processing agreement. According to Volt Carbon, this is tied to processing at least 40,000 tonnes of vermiculite annually and meeting mutually agreed recovery rates in the contract.

What equity stake in Northern Ore does Volt Carbon (TORVF) receive under the July 2026 agreements?

Volt Carbon will receive a 2.5% equity interest in Northern Ore under a Share Issuance Agreement. According to Volt Carbon, this equity grant is subject to required approvals and the terms of the Share Issuance Agreement executed alongside the toll processing deal.

What are the graphite commercialization plans between Volt Carbon (TORVF) and Northern Ore?

Volt Carbon and Northern Ore established a framework for future graphite commercialization with a minimum 10,000 tonnes/year graphite supply commitment. According to Volt Carbon, the program depends on further lab testing, Air Classifier trials, and product qualification, after which definitive downstream agreements may be negotiated.

When does Volt Carbon (TORVF) expect commercial operations and full throughput under the Northern Ore agreement?

Volt Carbon anticipates starting and ramping commercial operations under the agreement during 2027, subject to commissioning and deliveries. According to Volt Carbon, processing capacity is expected to ramp up to full throughput during 2028 once the larger commercial Air Classifier is designed, constructed, and commissioned.

What capital expenditures does Volt Carbon (TORVF) plan for the new commercial Air Classifier?

Volt Carbon estimates about USD $750,000 in capital expenditures for a larger commercial Air Classifier. According to Volt Carbon, this budget covers equipment fabrication, installation, and commissioning needed to support the minimum annual committed processing volume in the Northern Ore tolling agreement.

How will the July 2026 toll processing agreement affect Volt Carbon (TORVF) revenues in 2026 and beyond?

Volt Carbon expects only modest processing revenues for the remainder of 2026 while completing integration and commissioning work. According to Volt Carbon, more substantial commercial operations under the agreement are anticipated from 2027 onward as capacity ramps toward full throughput by 2028.