Graphite One (TSXV:GPH) Advances Strategic Graphite and Rare Earth Initiatives

Highlights

• Graphite One advanced FAST-41 permitting for its Graphite Creek Project with a targeted federal decision timeline of September 2026.
• The company secured amended EXIM Letters of Interest totalling US$2.07 billion for its U.S.-based graphite supply chain strategy.
• The company completed a C$35 million public offering to support engineering, permitting and equipment purchases for its planned AAM facility.
• Independent testing confirmed elevated magnet and heavy rare earth elements within Graphite Creek garnet material.
• Graphite One plans further rare earth testing in 2026 in collaboration with a U.S. National Laboratory.

Graphite One Inc. (TSXV:GPH; OTCQX:GPHOF) has continued progressing its vertically integrated graphite supply chain strategy across the United States, with recent developments spanning permitting, financing, manufacturing expansion, and resource evaluation at its Graphite Creek Project in Alaska.

The company’s broader strategy centres on developing a domestic graphite supply chain anchored by the Graphite Creek deposit, which the U.S. Geological Survey has previously recognised as the largest graphite deposit in the United States and among the largest globally. Alongside mining operations in Alaska, Graphite One is also planning downstream processing and battery anode material manufacturing operations in Ohio.

Recent updates have highlighted how the company is advancing multiple stages of the project simultaneously as demand for graphite and critical minerals continues to draw increased policy and industrial attention in North America.

FAST-41 Permitting Progress

In April 2026, Graphite One provided an update on the permitting status of the Graphite Creek Project under the FAST-41 federal permitting framework.

The project became the first Alaska mining project added to the FAST-41 Federal Permitting Dashboard in June 2025. The framework was introduced to coordinate environmental reviews and authorisations across federal agencies while providing publicly available permitting timelines.

Following the coordinated project planning process, the federal permitting schedule established a projected completion date of September 29, 2026. According to the company, the project remains “in progress” under the oversight of the U.S. Army Corps of Engineers. The company also indicated it intends to pursue FAST-41 coverage for its planned advanced graphite materials and battery anode manufacturing facility in Ohio.

Public Offering Raises C$35 Million

In February 2026, Graphite One completed a marketed public offering that raised gross proceeds of C$35 million.

The company issued 20,002,000 units priced at C$1.75 each, including the full exercise of the agents’ option. Each unit included one common share and one warrant exercisable at C$2.25 over a 36-month period.

Graphite One said proceeds from the offering would support expenditures related to the planned anode active material plant, including engineering, permitting activities, and equipment purchases. Funds will also contribute toward general working capital requirements.

EXIM Financing Support Expands

In December 2025, Graphite One announced that the Export-Import Bank of the United States (EXIM) had amended and increased its non-binding Letters of Interest tied to the company’s supply chain plans.

Under the revised terms, EXIM increased the potential financing for the Graphite Creek Project from US$570 million to US$670 million. At the same time, the Letter of Interest linked to the planned Ohio manufacturing facility increased from US$325 million to US$1.4 billion.

The combined potential financing now totals US$2.07 billion across the company’s proposed U.S.-based supply chain.

Rare Earth Findings at Graphite Creek

Separate testing announced in December 2025 confirmed the presence of elevated magnet and heavy rare earth elements within garnet material from the Graphite Creek deposit.

Independent analysis conducted by Activation Laboratory in Canada indicated that 85% of the rare earth elements identified in the garnet samples were magnet rare earths or heavy rare earths.

The testing identified elevated levels of dysprosium, yttrium, and scandium within the garnet material. According to the company, the drill core samples originated from the anticipated mining pit outlined in the project’s February 2025 feasibility study.

Graphite One noted that the findings could create potential opportunities for rare earth recovery alongside graphite production in future mining operations. The company also plans to work with a U.S. National Laboratory during 2026 to evaluate extraction methods for rare earth elements contained within the Graphite Creek garnets.

Looking ahead, Graphite One is expected to remain focused on advancing federal permitting, securing financing commitments, expanding downstream manufacturing plans in Ohio, and progressing additional rare earth testing at Graphite Creek as it continues developing its proposed U.S.-based graphite and critical minerals supply chain.

Shares of GPH last traded at CAD 1.19 on May 13, 2026.