Canada Carbon Provides Update on Miller Project

MISSISSAUGA, Ontario, Aug. 30, 2021 (GLOBE NEWSWIRE) — Canada Carbon Inc. (“the Company” or “Canada Carbon” or “CCB”) (TSX-V:CCB), (FF:U7N1), is pleased to provide an update on its Miller Project. On July 21, 2021 the La Commission de Protection du territoire Agricole du Quebec (“CPTAQ”) rendered a Notice of Change in Orientation in which it indicated it was prepared to authorize, for a period of two years, the exploratory work required for Canada Carbon to provide additional information to its existing application file. CPTAQ provided 30 days for comments on its change of orientation and will provide a final decision in due course.

Canada Carbon had filed a comprehensive file with the CPTAQ based on the information it understood the CPTAQ required. In addition to requesting the area needed for the proposed pits and infrastructure, Canada Carbon built in some flexibility to accommodate the potential requirements Ministry of Energy and Natural Resources or the Department of Environment and Fight against Climate Change could have from their respective reviews which cannot commence until the CPTAQ approval is obtained.

The CPTAQ determined that it wanted more specific information regarding the exact area required for the project so that an assessment could be made on the impact on water, dust and maples for that area.

Although COVID-19 has imposed certain constraints on the availability of drillers and certain analytical procedures, and may continue to have an impact beyond the Company’s control for some time, the Company has set an internal target of 6 to 9 months to complete the work required for the CPTAQ.

To this end, Canada Carbon will need to finalize its pit designs. SGS Canada has been requested to prepare a drill plan. Quotes for availability and pricing for drilling services have also been requested. The objectives of the drilling program, which is expected to be carried out between Fall 2021 and Spring 2022, will be to:

• Further delimit the location of the graphite to obtain the value of the indicated or measured resources;
• Refine the precision of the quarry and graphite pit contours;
• Continue the hydrogeological study; and
• Continue the geotechnical study.

Stratigraphy and topsoil analysis and an updated forest inventory are expected to be performed in the Fall of 2021.

The work will be done in collaboration with GSLR experts to the extent possible.

Olga Nikitovic, Interim CEO, commented, “Given the superior purity of the Miller graphite, we are firmly committed to advancing the Project as quickly as possible.”

For further information:

“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.”

FORWARD LOOKING STATEMENTS: This news release contains forward-looking statements, which relate to future events or future performance and reflect management’s current expectations and assumptions.  Such forward-looking statements reflect management’s current beliefs and are based on assumptions made by and information currently available to the Company. Investors are cautioned that these forward looking statements are neither promises nor guarantees, and are subject to risks and uncertainties that may cause future results to differ materially from those expected. These forward-looking statements are made as of the date hereof and, except as required under applicable securities legislation, the Company does not assume any obligation to update or revise them to reflect new events or circumstances. All of the forward-looking statements made in this press release are qualified by these cautionary statements and by those made in our filings with SEDAR in Canada (available at www.sedar.com).