Graphite One Resources Inc. (TSX-V:GPH)
(OTCQB:GPHOF)
(“Graphite One” or the “Company”)
commented today on the release of the US Geological Survey’s report
on the Critical Mineral Resources of the United States (the
“Report”) and President Trump’s order to develop a federal critical
mineral’s strategy. The Report lists 23 metals and minerals
that are critical to “the national economy and national security of
the United States.” Graphite is one of the 23 materials
listed, and is one of just four metals and minerals on the list for
which the U.S. is 100% import dependent.
- 850-page Report is first comprehensive update on US
mineral resource landscape since 1973 Oil Crisis
- Graphite is one of 23 metals and minerals recognized as
critical to “national economy and national security”
- Graphite is one of 4 metals and minerals for which the
U.S. is 100% import-dependent
- Report is followed by a Presidential Executive Order to
develop a federal strategy to reduce foreign dependence on critical
minerals
Please click here for full US Geological Survey
Report
https://pubs.usgs.gov/pp/1802/pp1802_entirebook.pdf
Graphite One’s Graphite Creek STAX Graphite Project is a
large, high-grade graphite resource situated in Alaska, one of the
most pro-mining states in the United States.
As reported in February 2017, the Company signed a MOU with the
Alaska Industrial Development and Export Authority (“AIDEA”), a
public corporation of the State of Alaska whose purpose is to
support and encourage the development of Alaska’s natural
resources. AIDEA has the authority to finance, develop, and
own and operate facilities used in the extraction, production, and
transportation of minerals and materials.
“The Report and President Trump’s Executive
Order track with the ongoing discussions our team has been having
with key U.S. officials at the federal level and the State of
Alaska, with interest far more intense now than our initial
discussions five years ago,” said Anthony Huston, CEO of GPH.
“As a major graphite developer in the U.S., Graphite One is seeing
a growing awareness that graphite is critical to a full range of
new applications - from electric vehicle batteries and energy
storage systems to defense weapons platforms. The USGS report
makes it clear that 100% import dependence on graphite and other
materials pose risks to the U.S. economy and national
security.”
The Report, formally titled “Critical Mineral Resources of the
United States— Economic and Environmental Geology and Prospects for
Future Supply,” (USGS Professional Report 1802), updates USGS
Report 820, issued 44 years ago during the 1973 oil crisis.
The Report represents the U.S. Government’s most comprehensive
assessment of the nation’s mineral resource profile and potential,
serving to inform federal mineral policy.
Secretary Ryan K. Zinke, of the Department of
the Interior, which oversees the USGS, stated on the release of the
report: "I commend the team of scientists at USGS for the extensive
work put into the report, but the findings are shocking. The
fact that previous administrations allowed the United States to
become reliant on foreign nations, including our competitors and
adversaries, for minerals that are so strategically important to
our security and economy is deeply troubling. As both a former
military commander and geologist, I know the very real national
security risk of relying on foreign nations for what the military
needs to keep our soldiers and our homeland safe."
The USGS study was followed by the signing of a
new Executive Order by President Trump, “A Federal Strategy to
Ensure Secure and Reliable Supplies of Critical Minerals.”
The Executive Order directs the U.S. Secretaries of the Interior
and Defense to prepare a list of critical minerals within 60 days,
and to develop and report within 6 months a strategy for reducing
foreign dependence on those metals and minerals deemed critical.
“This executive order will prioritize reducing the Nation’s
vulnerability to disruptions in our supply of critical minerals
safely and responsibility for the benefit of the American people,”
said President Trump.
Graphite One is proposing the development of its
Graphite Creek STAX Graphite Project near Nome, Alaska. The
project’s Preliminary Economic Analysis, dated June 30, 2017,
envisions an integrated project producing about 50,000 tonnes per
year of high-value manufactured graphite products over a 40-year
mine life.
ABOUT GRAPHITE ONE RESOURCES
INC.
GRAPHITE ONE RESOURCES INC. (TSX-V:GPH)
(OTCQB:GPHOF) continues to develop its Graphite One Project (the
“Project”), whereby the Company could potentially become an
American producer of high grade Coated Spherical Graphite (“CSG”)
that is integrated with a domestic graphite resource. The
Project is proposed as a vertically integrated enterprise to mine,
process and manufacture high grade CSG primarily for the
lithium-ion electric vehicle battery market. As set forth in
the Company’s Preliminary Economic Assessment, potential graphite
mineralization mined from the Company’s Graphite Creek Property, is
expected to be processed into concentrate at a graphite processing
plant. The proposed processing plant would be located on the
Graphite Creek Property situated on the Seward Peninsula about 60
kilometers north of Nome, Alaska. CSG and other value-added
graphite products, would likely be manufactured from the
concentrate at the Company’s proposed graphite product
manufacturing facility, the location of which is the subject of
further study and analysis. The Company intends to make a
production decision on the Project once a feasibility study is
completed.
ON BEHALF OF THE BOARD OF DIRECTORS "Anthony
Huston” (signed)
For more information on Graphite One Resources Inc. please visit
the Company’s website, www.GraphiteOneResources.com or contact:
Anthony Huston CEO, President & Director Tel: (604) 697-2862
Email: AnthonyH@GraphiteOneResources.com
Investor Relations Contact 1-604-684-6730
GPH@kincommunications.com
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.
This release includes certain statements that
may be deemed to be forward-looking statements. All statements in
this release, other than statements of historical facts, are
forward-looking statements.
Generally, forward-looking information can be
identified by the use of forward-looking terminology such as
“proposes”, “expects”, or “is expected”, “scheduled”, “estimates”,
“projects”, “intends”, “assumes”, “believes”, “indicates” 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”.
Forward-looking information in this release
includes, but is not limited to, statements regarding the stage and
progress of development of the Graphite Creek Project including the
ability to actually produce spherical graphite, ultimate further
and final results of additional test-work, estimated capital and
sustaining costs and the availability of equipment, labour and
resources required, the anticipated applications of graphite in
high-tech, clean tech, energy storage and national security
applications and all other anticipated applications, international
demand and ability to transport and enter into such markets, are
all forward-looking statements. 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: (i) the results of
product development test work may not be indicative of the
advancement of the project as anticipated, or at all, (ii) market
prices, (iii) exploitation and exploration successes, (iv)
continuity of mineralization, (v) uncertainties related to the
ability to obtain necessary permits, licenses and title and delays
due to third party opposition, (vi) changes in government policies
regarding mining and natural resource exploration and exploitation,
(vii) competition faced in securing experienced personnel, access
to adequate infrastructure to support mining, processing,
development and exploration activities and continued availability
of capital and financing, and (viii) 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.sedar.com.
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