Canada Carbon Wants to Quickly Establish Dialogue Protocols With the Municipality of GSLR

MISSISSAUGA, March 01, 2021 - Canada Carbon Inc. (the "Company" or "Canada Carbon") (TSX-V:CCB), (FF:U7N1) wishes to quickly establish a mutually agreed upon protocol for the format and content of future discussions with GSLR to ensure the Miller Project's impact on the municipality and surrounding areas is understood and modified to the extent required or possible for the benefit of all stakeholders.

CCB has always been convinced that the co-construction of a protocol based on equal contributions from both parties was the best approach to ensure an outcome with which each party feels comfortable. That is why the Company proposed a co-facilitation process which would be a non-confrontational process, conducted by neutral and mutually accepted parties. "We want to build trust from the very beginning of this important process and wish to begin dialogue in order to continue positively towards the common goals identified by both parties in the Settlement Agreement signed in February 2020, " said Olga Nikitovic, Interim CEO.

The Settlement Agreement, which was agreed to by both parties, states that GSLR and CCB agree to enter into a dialogue on the Miller Project and to put forward a process for that purpose with the assistance of the MERN, to the extent that the MERN agrees to act in that capacity (Section 18). As part of this process, CCB agrees to collaborate with GSLR in the conduct of any study that GSLR may require, where applicable, upon the recommendation of a professional under the Professional Code, in order to enable it to understand, analyze or participate in improving the Miller Project in terms of its social acceptability (Section 19).

The objective of these two sections was to ensure that through dialogue both parties would determine what additional analysis would be required and that the collection of this additional information was carried out jointly on a scientific, effective and transparent basis.

To this end, Canada Carbon sent several communications to the Municipality of GSLR during 2020 to begin the dialogue with co-facilitators. In the Company's communications with GSLR, it was made clear that CCB would be prepared to pay for some portion of the co-facilitator utilized by GSLR and would also be prepared to fund some portion of the reports that would be determined by both parties to be necessary.

GSLR chose not to begin the co-facilitation process at this time and decided to proceed with the counter-expertise studies on their own. It should be noted that in good faith, Canada Carbon provided GSLR's consultants with the source data from our independent consultants so that they could conduct their analysis.

CCB has now proposed that both parties each develop their own draft protocol. The proposed protocol to be developed by CCB will be based on what the Company considers to be best practices. Once the two protocols are finalized, they can be reviewed by both parties for constructive comments and the proposals jointly refined so that a joint agreement can be signed quickly, and a mutually beneficial project can be co-constructed.

The Company's experts are continuing to review the counter-expertise reports prepared by GSLR's consultants. Once this analysis is complete, the Company will invite GSLR citizens to a virtual meeting to provide answers or clarifications to the issues raised. Canada Carbon is confident that transparent and ongoing communication will enable it to address concerns and modify the project, if necessary, for the benefit of all stakeholders.

In preparation for this virtual meeting, CCB invites questions from the public. "I invite people to share their questions with me through our social media platforms or to send them directly to me by email or phone. In the weeks following this first virtual meeting, we will share the questions and answers. I will continue to communicate proactively with all stakeholders." said Val?rie Pomerleau, Director of Public Affairs and Communications.

For further information:

Olga Nikitovic
Interim CEO
Canada Carbon Inc.
info@canadacarbon.com

Valerie Pomerleau
Director Public Affairs and Communications Canada Carbon Inc.
vpomerleau@canadacarbon.com
(819) 856-5678

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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).

5213 Durie Road
Mississauga, ON L5M-2C6
Phone: (905) 813-8952
Email: info@canadacarbon.com
Website: www.canadacarbon.com