Canada Carbon Inc. announced a Maiden Mineral Resource Estimate (MRE) for its 100% owned Asbury Graphite Project located 80 kilometres ("km") NNE of Gatineau, near Notre-Dame-du-Laus, Quebec. The Resource Estimate was prepared pursuant to Canadian Securities Administrators' National Instrument 43-101 ("NI 43-101") by the independent firm SGS Canada Inc. ("SGS") of Blainville, Quebec. The Maiden Resource Estimate consists of an inferred resource of 4.14 Mt with an average grade of 3.05% Cg, within the boundaries of an optimized open pit model.

A Technical Report supporting the Resource Estimate will be filed to SEDAR within 45 days, as required by NI 43-101. The Company has thus far completed sufficient diamond drilling and bedrock channel sampling to result in a resource estimation with a maximal depth of the pit at 135 vertical meters. Geological modeling based on the drill results, surface trenching and mapping indicates that the deposit remains open at depth and on both strike extensions.

The geological model also provides multiple exploration targets with the potential to further expand the graphite mineral resources. The portion of the Asbury Project which is the subject of the Resource Estimate occupies only about 7% of the geophysical anomaly on the Asbury claim area held by the Company. The substantial resource identified by the targeted drill programs of 2022 and 2023 reveals a promising scope for extensive mineralization across the claim area.

The initial resource model will provide a robust foundation for all future exploration efforts on the Property. This MRE demonstrates the significant exploration upside available at Asbury. The Mineral Resources were estimated by Yann Camus, P.Eng., of SGS with an effective date of March 28, 2024.

This estimate is the first Mineral Resource Estimate on the Asbury property. The Mineral Resources were estimated using the following geological and resource block modeling parameters which are based on geological interpretations, geostatistical studies and best practices in mineral estimation: Graphite Mineral Resources · Mineral Resources were estimated from the diamond drill holes and channels analytical results completed by Canada Carbon in 2022 and 2023, along with two nearby 1988 drill holes. A total of 17 drill holes (11 from 2023, 4 from 2022, 2 from 1988) and 1 channel were used for the MRE, comprising 1,309 assay intervals.

The complete database consists of 101 drill holes (including 13 from 2023 and 6 from 2022) and 14 channels/trenches (including 11 channels from 2022), comprising 2,158 assays. The 3-D modeling of the graphite Mineral Resource was conducted using a minimum cut-off grade of 0.50% Cg over a 5 m length. All modeling and estimations were done using SGS?s proprietary modeling software Genesis©.

Assay data was composited to about 2 m without leaving remainders. The interpolation was conducted using inverse distance squared. The block model was defined with a block size of 5 m long by 1 m wide by 2 m thick and covers a strike length of approximately 1050 m to a maximal depth of 175 m below surface.

The modeled graphite mineralization is open both at depth and strike.