Remarkable long-term cycling performance for the coated spherical graphite of Mason Graphite

Li-ion batteries made with graphite from Lac Guéret demonstrate an excellent capacity retention after 470 cycles.

December 3rd, 2020 – Mason Graphite inc. (“Mason Graphite” or the “Company”) (TSX.V: LLG; OTCQX: MGPHF) is proud to announce excellent cycling test results of complete, prototype-type lithium-ion batteries, containing the Company’s coated spherical graphite produced at pilot scale. The coated spherical graphite, a value-added product, will serve the lithium-ion battery market, notably for electric vehicles.

Thus, the batteries made with graphite from the Lac Guéret deposit, in the anode, have maintained 86% of their original capacity after 470 cycles of charge and discharge (see graph below). This a remarkable performance, considering that for such prototype batteries, the target in the electric vehicle application is a minimum of 80% of retention after typically 500 cycles. These same batteries continue cycling at NRC to validate that this objective will be reached and to evaluate their life expectancy.

From a technological perspective for the cycling tests, the batteries were charged and discharged at a rate of C/3 (3 hours to charge, 3 hours to discharge), which corresponds to the conditions typically used for electric vehicles. The cathode used for the test was a commercial material of NMC532 type.

Gilles Gingras, chairman of the Board of Directors of the Company commented: “After many years of work and based on our industrial approach, the experience and expertise of our team allowed us to reach excellent results with our coated spherical graphite project. That these results have been obtained with samples produced at the pilot scale, and not laboratory scale, clearly demonstrates how advanced our project is.”

Important Partnerships

The prototype full pouch cell type batteries were assembled on the new prototyping line of NRC in Boucherville, Quebec, Canada (see attached picture), long-term partner of the Company for the development of its spherical graphite grades, and tested in NRC’s laboratories. The spherical graphite from the Company was successfully processed during all the battery assembly steps. Furthermore, the cells made with Mason Graphite’s material have demonstrated, before the cycling tests, a capacity (in mAh) comparable to the capacity obtained with commercially available material tested in parallel under the same conditions.

The coated spherical graphite tested was produced at the pilot scale (continuous processing feed capacity of a few tens of kilograms per hour) in the installations of COREM, Quebec, Canada, important partner of the Company since 2014, and in the installations of the Company.

The properties of Mason Graphite coated spherical graphite are:

· High purity (minimum 99.95 %Cg);

· Optimized grain size (average particle size of around 20 µm);

· Low specific surface (around 3 m2/g); and

· High taped density (> 1.1 g/cm3), denoting the high sphericity level for the graphite particles.

Step by Step

The Company had announced, almost a year ago (December 10th, 2019), that the coated spherical graphite had passed with success the preliminary electrochemical tests in half-cells (graphite vs lithium) and had therefore qualified to be tested in full cells (graphite vs cathode).

Mason Graphite plans a new pilot production campaign of coated spherical graphite early 2021, which should be followed by a new sequence of cycling tests. The objectives of this campaign are to demonstrate repeatability of the processes, to apply recent optimization results and to prepare samples for potential customers evaluation.

Participation to Benchmark Mineral Intelligence Conference of December 7th

On December 7th, Jean L’Heureux, COO for Mason Graphite, will present during the “Natural Graphite” session at the conference Benchmark Week 2020 on Li-ion batteries. Attendance is free and open to all. To register, follow the link below:

Consent of the Qualified Person

Jean L’Heureux, Eng., M. Eng., COO for Mason Graphite, and a Qualified Person, as defined by NI 43-101 for Mason Graphite, was responsible for the audit of data presented in this press release and read and approved it.

About Mason Graphite

Mason Graphite is a Canadian corporation dedicated to the production and transformation of natural graphite. Its strategy includes the development of value-added products, notably for green technologies like transport electrification. The Company also owns 100% of the rights to the Lac Guéret graphite deposit, one of the richest in the world. The Company is managed by an experienced team cumulating many decades of experience in graphite, covering production, sales, as well as research and development.

For more information:

Mason Graphite inc.

Ana Rodrigues at or 1 514 289-3580

Head Office: 3030, boulevard Le Carrefour, suite 600, Laval, Quebec, Canada, H7T 2P5

Cautionary Statements

This press release contains “forward-looking information” within the meaning of Canadian securities legislation. All information contained herein that is not clearly historical in nature may constitute forward-looking information. Generally, such forward-looking information can be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be achieved”. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information, including but not limited to: (i) volatile stock price; (ii) the general global markets and economic conditions; (iii) the possibility of write-downs and impairments; (iv) the risk associated with exploration, development and operations of mineral deposits; (v) the risk associated with establishing title to mineral properties and assets; (vi) the risks associated with entering into joint ventures; (vii) fluctuations in commodity prices; (viii) the risks associated with uninsurable risks arising during the course of exploration, development and production; (ix) competition faced by the resulting issuer in securing experienced personnel and financing; (x) access to adequate infrastructure to support mining, processing, development and exploration activities; (xi) the risks associated with changes in the mining regulatory regime governing the resulting issuer; (xii) the risks associated with the various environmental regulations the resulting issuer is subject to; (xiii) risks related to regulatory and permitting delays; (xiv) risks related to potential conflicts of interest; (xv) the reliance on key personnel; (xvi) liquidity risks; (xvii) the risk of potential dilution through the issue of common shares; (xviii) the Company does not anticipate declaring dividends in the near term; (xix) the risk of litigation; and (xx) risk management.

Forward-looking information is based on assumptions management believes to be reasonable at the time such statements are made, including but not limited to, continued exploration activities, no material adverse change in metal prices, exploration and development plans proceeding in accordance with plans and such plans achieving their stated expected outcomes, receipt of required regulatory approvals, and such other assumptions and factors as set out herein. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in the forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such forward-looking information. Such forward-looking information has been provided for the purpose of assisting investors in understanding the Company’s business, operations and exploration plans and may not be appropriate for other purposes. Accordingly, readers should not place undue reliance on forward-looking information. Forward-looking information is made as of the date of this press release, and the Company does not undertake to update such forward-looking information except in accordance with applicable securities laws.

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.