Vancouver, March 8, 2022 (GLOBE NEWSWIRE) — Ceylon Graphite Co., Ltd. (“”Ceylon” or “society(TSXV: CYL) (OTCQB: CYLYF) (FSE: CCY) is pleased to be able to provide the next update on recent development work and the company’s plans for 2022.
new Strategic direction Focused on creation Maximum shareholder value
In June 2021, we announced the appointment of veterans in the graphite industry and directors of Ceylon. Donald Baxter, P.Eng. As Chief Executive Officer, President and Executive Director. Baxter is one of the leading graphite experts outside of China who built one of only two production graphite mines in North America. Prior to joining Ceylon, Mr. Baxter was President, Chief Executive Officer and Executive Director of Alabama Graphite (“AGC“), A destructive preliminary economic assessment (“pea”) And a range of high performance special battery compatible graphite products led to the acquisition of AGC by a US-based mining company.
Since joining Ceylon, Baxter has led the transition from Ceylon’s future untreated crystalline vein graphite producers to future downstream “mine-to-battery” value-added graphite producers. Ceylon plans to convert its high-grade vein graphite into battery-quality graphite used in electric vehicles (“EV“), While adhering to the best environment, society and governance (“ESG“)standard. This new focus allows Ceylon to focus on very high value products. Coated spherical battery-compatible graphite (“CSBG“)lithium ion(“lithium ionBattery anodes sell for $ 8,000 to $ 12,000 per ton. Conversely, standard untreated vein graphite is priced at approximately US $ 2,000 per ton.
To improve the quality of carbon of 90% or more as graphite on the spot (“Cg”), Ceylon’s Sri Lankan vein graphite is shipped in the mined state and is secondarily processed into a very valuable graphite product for special batteries. The main difference between primary vein graphite and traditional natural flake graphite concentrate is that vein graphite does not require complex and expensive milling or tailing management. This is expected to reduce associated processing costs and reduce environmental risks. Management believes Ceylon has the short-term potential to operate with minimal carbon dioxide emissions while maintaining its key ESG profile.OEM”) And lithium-ion battery manufacturers.
To further further discussions between Ceylon and battery manufacturers and OEMs, we will move the portfolio of Sri Lanka’s vein graphite projects into production, while at the same time converting untreated vein graphite mined into battery-ready specialty graphite products downstream. We are planning to develop a processing facility for ..Ceylon’s potential for both supply safety and the conversion of our venous graphite to battery-compatible graphite products on a commercial scale is one or more binding with the end user of commercial lithium-ion batteries. May result in supply contracts..
In July 2021, we became a wholly owned subsidiary of Ceylon Graphite Technologies Ltd. (“”CGT“) In the UK.Leaded by Chief Scientific Executive and renowned Nanomaterial Scientist Dr. Shiva BaumeThe purpose of the CGT is to focus on graphite in lithium-ion battery anodes as Europe and North America move towards electrification of vehicles and develop innovative applications for value-added graphite and graphene in multiple market segments. Is to do. Ceylon Graphite will continue to increase its production capacity for high quality, low cost graphite from mines in Sri Lanka, and CGT will develop new intellectual property (“IP”) For the beneficiation and purification of battery grade graphite, primarily for use in improving profitable anodes for electric vehicles and energy storage markets and graphene applications.
In February 2022 and November 2021, the company announced CGT test results for vein graphite. This indicates that the silicon-reinforced vein graphite anode material significantly improves the specific discharge capacity.The result came in 446 mAh / g Specific discharge capacity (SDC) (13% increase) of silicon-reinforced vein graphite material in half-cell lithium-ion battery test. Anode graphite for full-cell lithium-ion batteries is superior to major commercially available synthetic graphite (165 mAh / g Compared to the industry standard 153mAg / g). Ceylon believes that the performance gains are due to the high crystallinity, high purity and proprietary refining technology of the vein graphite material. These reports have attracted the attention of several OEMs in discussion with us.
Vein graphite Project developments
Ceylon currently has 10 mining projects, each expected to have competitive development capital spending, National Document 43-101-(“”NI 43-101”) Technical report. Each is an underground outlook and assumes that no milling is required. The high-grade vein mineralization nature is expected to create a potentially solid margin, even at current untreated graphite prices.
On February 22, 2022, we announced the submission of the latest technical report. “”Technical report About Karasnagala (K1) Exploitation License“ About Ceylon’s K1 Vein Graphite Project in Sri Lanka Doctor.. Christian de rosier, P.Geo. Complies with NI 43-101 standards for mineral project disclosure.The report details early mineral resources1 The estimated value of the K1 mining project is about 1,400 tons, exceeding 3,100 tons with an average of 73.86% C in the measured mineral resources category and 93% C or more in the estimated mineral resources category.
This will be added to the submission of a technical report entitled “Technical Report on Exploration License for Marcilipla (M1), Democratic Socialist Republic of Sri Lanka,” also produced by Dr. Christian Delocier on October 1, 2018. Compliant with National Instrument 43-101 Standards of Disclosure for Mineral Projects (‘NI-43-101 “).
Given the nature of venous graphite, which is expected to stretch several kilometers along strikes and down dips, we expect to continue to increase resources after further development work is completed. Continue underground excavation at K1 and M1 to further clarify graphite veins.
On January 4, 2022, we announced the renewal of an environmental protection license from the Central Environment Bureau of Sri Lanka for continued operation at the K1 mine. The renewed license is valid for 3 years and can be used continuously in the K1 mining project. The company also deepened the shaft of the K1 mining project and stopped production to reach the larger vein structure identified by geologists. The combination of these two developments is expected to increase development and be faster than previously planned.
Both Ceylon’s K1 and M1 mining projects are expected to lift graphite in the third quarter of this year.
Ceylon Rita Taeil As a non-executive chairman of the board earlier this year Rodney Stevens Appointed Vice President of Corporate Development in June 2021. The appointment of Mr. Theil not only strengthens the board of directors, but also advances our goal of having a top-class corporate governance structure.
Theil has extensive board and governance experience in both public and private companies, with a particular focus on companies operating in highly regulated industries. She is currently Jac Kryn Holdings Inc, a corporate financial advisory firm specializing in capital markets, strategy development and execution, M & A, and merger integration. President and Chief Executive Officer.
Stevens is a Certified Financial Analyst (“CFAA charter holder with over 10 years of experience in the capital markets, first as an investment analyst at Salman Partners Inc. and then as a merchant and investment banker. While at Salman Partners, Stevens became a leading analyst in the metal and mining industry.
Ceylon Graphite Corp. CEO Donald KD Baxter, P. Eng is a Qualified Person as defined in the National Instrument 43-101 (“NI 43-101”) Guidelines and has reviewed and endorsed the content of this news release.
DonAldo K. BaxterP.Eng.
Chief executive officer
CEYLON GRAPHITE CORP.
+1 (604) 765 8657
CEYLON GRAPHITE CORP.about
Ceylon graphite Ltd Is a publicly traded company listed on the TSX Venture Exchange, mining graphite, developing and commercializing innovative graphene and graphite applications and products. Graphite mined in Sri Lanka is known to be some of the highest grades in the world and can be easily upgraded to a variety of applications such as high growth electric vehicles and battery storage markets, construction and healthcare. It has been confirmed. And the paint and coating sector. The Government of Sri Lanka is Sarcon Development (Pvt) Ltd, a wholly owned subsidiary of the Company. Has been granted an IML Category A license for K1 mining and exploration rights in land packages over 120 km². These exploration grids (each with an area of 1 square kilometer) cover the historic areas of graphite production from the early 20th century. The majority of Known graphite outbreaks in Sri Lanka.
For more information on Ceylon Graphite Corp., please visit: www.ceylongraphite.com
This news release contains information about future prospects as defined by applicable securities law that are relevant to future events or future performance and reflect management’s current expectations and assumptions. Forward-looking information includes a Ceylon Graphite grid, additional drilling and mining planning for Ceylon Graphite, and a plan to establish a mining business. These forward-looking statements reflect management’s current beliefs and are based on the assumptions made by Ceylon Graphite and the information currently available. This includes the assumption that there are no significant adverse changes in metal prices, all necessary consents, licenses, permits, and approvals. You can get it including licenses and markets of various local governments. Investors are aware that these forward-looking statements are neither promises nor guarantees and may be subject to risks and uncertainties that may cause future results to differ materially from expectations. be careful. Risk factors that may cause actual results to differ materially from those expressed or implied by forward-looking information are, among other things, inaccurate results from drilling exercises that fail to reach a final acquisition agreement. Includes acquisition failure or delay. Required regulatory licenses, permits, approvals and consents, lack of access to financing as needed, general recession, volatile stock prices, labor disputes, political instability, mining regulatory regimes governing Ceylon Graphite Compliance with changes, environmental regulations, and reduced market and industry reliance on high quality graphite. Ceylon Graphite warns readers that the above list of risk factors is not exhaustive.
do not have the The TSX Venture Exchange or its regulatory service provider (because the term is defined in the TSX Venture Exchange Policy) is responsible for the validity or accuracy of this. news release.
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