Canada Carbon Receives Results on its Asbury Property and Provides Initial Interpretation of Results, Including 5.00%Cg over 33.35 m

Figure 1: Overview of Asbury Project and Preliminary Results of Fall 2022 Campaign Table 1: Drill Holes Assay results Drill Hole Id From (m) To (m) Length (m) Average Results % (Cg) DDH-AS22-02 49.7 53.7 4 0.34 consisting of 50.55 52 1.45 1.34 DDH-AS22-04 26.7 44.5 17.8 1.95 consisting of 32.3 35.15 2.85 9.36 DDH-AS22-05 20.75 30 9.25 1.94 consisting of 25 29 4 3.01 DDH-AS22-05 37 54.5 17.5 1.48 consisting of 40.35 41.73 1.38 10.40 DDH-AS22-07 86.65 145.5 58.85 2.21 consisting of 137.1 144.35 7.25 9.21 DDH-AS22-07 129.5 146.5 17 4.95 consisting of 137.1 143 5.9 10.53 DDH-AS22-09 63.35 72.35 9 0.76 DDH-AS22-10 84.7 102.9 18.2 2.73 consisting of 95.75 97.1 1.35 9.53 DDH-AS22-10 115 148.35 33.35 5.00 consisting of 117.35 130.85 13.5 8.57 Highlights Results for 2 drillholes targeting the conductor to the south (see zoomed map above) reveal consistency with historical drilling and highlight the possible northeast extension of the graphite mineralization reported in revealing MC8805 (8.14% Cg over 18.9 m). DDH-AS22-10, 00% (Cg) over 33.5 m consisting of 13.86% (Cg) over 5.05 m. 73% (Cg) over 18.2 m consisting of 9.53% (Cg) over 1.35 m. DDH-AS22-07, 2.21% (Cg) over 58.85 m consisting of 9.21% (Cg) over 7.25 m. These intercepts verify that graphite mineralization can describe the VTEM conductor formerly recognized by Focus Graphite (Dubé, 2013). Both hole obstructs validate the existence of a mineralized graphite body and the likely northeastward extension of the MC8805. The Program The 2022 program included 6 diamond drillholes (formerly reported) amounting to 830 meters, and 6 trenches which returned over 60.5 m of channel samples. The drill program effectively checked some targeted VTEM conductors at depth. The main goal of the program was to begin expedition of the eastern part of the local pattern. The pattern is made up of several conductors and VTEM abnormalities, that link the Asbury historic mine to the just recently drilled location (see figure 1). According to Dubé (2013 ), this pattern likewise extends more than 4km from the Asbury deposit to the North-East. Historic mining operations drawn out 875,000 tonnes of graphite at a 6%(Cg) cut-off grade (Charbonneau 2012). Preliminary analysis of the outcomes suggests substantial graphitic mineralization, which in turn discusses the anomalous conductor. The Company is still evaluating outcomes at this time and will release a future press release upon the conclusion of its evaluation. The drill work carried out on the eastern part of the Deposit yielded considerable outcomes, with up to 2.21%(Cg) over 55.85 m consisting of 9.21% over 7.25 m in hole DDH-AS22-07; and 5% Cg over 33.5 m consisting of 8.57% (Cg) over 13.5 m. Next Steps Of the 830m of core gathered, just 538m have, to date, been evaluated. The Company will continue its analysis of the extra samples from unassayed areas, with a concentrate on possibly increasing the length of the intersects, and on preparing future drilling programs. The Company likewise prepares more tests on the Deposit, focusing on geophysics covering the location in between the historical mine and the just recently finished drill program, where various conductors stay untried. This geophysical study is intended to much better specify the conductors where top-quality mineralization may be situated. Ultimately, the Company anticipates to be able to show that the whole 4km conductor pattern is graphitic in nature, following which, it will finish a resource quote on the found mineralization. President, Ellerton Castor, stated: “We’re dealing with a substantial conductor that links the presently examined location to the historic Asbury mi
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