Star Metro - Gratomic Provides Update

On August 23rd, Gratomic mobilized staff to site for the first time this year to commence preparations for upcoming developments. The on-site team is led by Raimund Rental (Senior Geologist and Acting Mine manager) and Helao Shivolo (Namibian partner, in-country representative, and government liaison). Staff are accommodated in on-site housing constructed by the Company in prior years

Manie Silver (CEO) and Arno Brand (Chairman) have been tasked with plant maintenance, facility care, and the assessment of critical components required to restart operations. Mining operations are set to resume with the extraction of 7,000 tonnes of material which will be added to the existing 3,000-tonne stockpile. This will bring the ROM pad to full capacity and provide sufficient feedstock to sustain processing requirements for the next 12 months.

Meanwhile, Mr. Rental and the geological team are finalizing exploration programs scheduled to commence in early 2026. Plans include 10,000 meters of drilling to follow up on mineralization identified in the 2022-2023 drilling campaigns. The program is expected to complete the necessary infill required for submission of data toward the preparation of a Technical Report for Aukam in accordance with the provisions of NI 43-101.

With sufficient material on hand, Gratomic will be well positioned to commence plant operations, targeting first-phase production of 7,600 tonnes of finished product. Final installation of critical components - designed to elevate the quality of the material to 97% Cg - is scheduled to begin in late September.

The Company also wishes to provide an update on its financial reporting. Gratomic has changed auditors from D&H Group LLP to McGovern Hurley LLP. All financial documentation has been submitted to the new auditors and they are working on the December 31, 2024 annual audit. The Company anticipates filing the outstanding financial statements in the near term.

Gratomic extends its sincere gratitude to its shareholders for their continued support, which has enabled the Company to advance to this pivotal stage. "The Company is now in better shape than it has been in several year," stated Arno Brand, Chairman.

Gratomic wishes to emphasize that no Preliminary Economic Analysis, Preliminary Feasibility Study or Feasibility Study has been completed to support any level of production. In fact, no mineral resources let alone mineral reserves demonstrating economic viability and technical feasibility, have been delineated on the Aukam property.

The Company is working towards completing a Feasibility Study (FS) on the Aukam Property. The study, its recommendations, and their subsequent implementation, will provide conclusions and recommendations at a FS level of comfort about scaling up the existing processing plant at Aukam to a commercial scale processing facility capable of producing the desired concentrate grades and production rates.

Gratomic wishes to emphasize that the supply of graphite is conditional on Gratomic being able to bring the Aukam project into a production phase, and for any graphite being produced to meet certain technical and mineralization requirements.

Risk Factors

No mineral resources, let alone mineral reserves demonstrating economic viability and technical feasibility, have been delineated on the Aukam Property. The Company is not in a position to demonstrate or disclose any capital and/or operating costs that may be associated with the processing plant until a FS is completed.

The Company advises that it has not based its production decision on even the existence of mineral resources let alone on a Preliminary Feasibility Study or FS of mineral reserves, demonstrating economic and technical viability, and, as a result, there may be an increased uncertainty of achieving any particular level of recovery of minerals or the cost of such recovery, including increased risks associated with developing a commercially mineable deposit.

Historically, such projects have a much higher risk of economic and technical failure. There is no guarantee that production will begin as anticipated or at all or that anticipated production costs will be achieved.

Failure to commence production would have a material adverse impact on the Company's ability to generate revenue and cash flow to fund operations. Failure to achieve the anticipated production costs would have a material adverse impact on the Company's cash flow and future profitability.

About Gratomic

Gratomic is a multinational company with projects in Namibia, Brazil, and Canada. The Company aims to become a graphite supplier and to secure a strong position in the electric vehicle battery supply chain through the development of its flagship Aukam Graphite Mine.

Large quantities of high-quality vein graphite have been shipped for testing and have confirmed its suitability as an anode material. The Company will continue to update the public on the status of these tests and will share results as they become available.

For more information

Contact: Arno Brand at (416) 561- 4095 or Manie Silver at +27 716821730 or [email protected]

"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 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.sedarplus.com).

SOURCE: Gratomic Inc.

View the original press release on ACCESS Newswire

G.Boudreau--SMC