Canada Carbon Completes an Extensive 3,005 Meters Drilling Program on the Miller Property

Mississauga, ON, Canada, Jan. 10, 2022 (GLOBE NEWSWIRE) — Canada Carbon Inc. (the “Company”) (TSX-V: CCB) is pleased to announce that it has completed an extensive drilling program on its Miller Graphite Property (“the Miller Project”), located in Grenville Sur la Rouge, Quebec (“GSLR”). Drilling was conducted from November 28th, 2021 (see news release dated December 9, 2021) to December 21st, 2021.

The Company completed 3,005m of drilling in 32 holes (see figure 1) varying in depth between 30 and 178 metres. The meterage makes this program the largest drill campaign completed to-date on the Miller Property. The drilling was conducted by Downing Drilling from Calumet in GSLR. SL Exploration Inc, of Acton Vale provided the geologists and technicians to complete the program. Core logging and sampling is expected to be completed in January 2022. Generally, samples are taken at 1.5-meter intervals throughout the core and will be analyzed for graphitic carbon (Cg) content by an independent laboratory.

Figure 1: 2021 Drill collars

Following assaying, the results will be used to update the resource statement on the Miller Property and to supply additional information to the CPTAQ regarding the future placement of the pits, and their specific impact on the environment. The information will also be used throughout the permitting stage of the Miller Project, including the permitting process for the Ministry of Environment and Fight against Climate Change (MELCC), the Ministry of Energy and Natural Resources (MERN) and during the consultation process with the citizens of Grenville-sur-la-Rouge (GSLR) and the Argenteuil MRC.

Chief Executive Officer, Ellerton Castor, said: “This is a significant milestone for the Company and we eagerly await results of the ongoing analysis. We expect that an expanded resource will enhance the economics of the Miller Deposit, facilitate our current efforts with certain regulatory bodies and continue to inform and shape the Company’s commercialization strategy."

QA/QC

The drilling program was focused on better defining and connecting the area located between the two high grade zones of the Project (VN3 area to the west and the VN6 area to the east). Approximately 10% of samples were inserted in the sampled assays by the Company. The QC/QC samples includes 2% of blank samples, 3% of standard samples and 5% of quarter-split duplicate samples, for a total of 10% QA/QC. Core samples were prepared by splitting core in half in 1.5m intervals while higher grade mineralization was sampled separately to better identify its grade.

Qualified Person

This press release was prepared by Steven Lauzier, P.Geo OGQ, a qualified person as defined under Nation Instrument 43-101 and he reviewed and approved the geological information provided in this news release.

CANADA CARBON INC.Ellerton J. CastorChief Executive Officer and Director

Contact InformationE-mail inquiries: info@canadacarbon.comP: (905) 813-8408

“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).

By Matt Earle

Matthew Earle is the Founder of MiningFeeds. In 2005, Matt founded MiningNerds.com to provide data and information to the mining investment community. This site was merged with Highgrade Review to form MiningFeeds. Matt has a B.Sc. degree with a minor in geology from the University of Toronto.

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