Mason Graphite to Appoint Ms. Adree DeLazzer as Independent Director Following Upcoming Annual General and Special Meeting

TORONTO, Dec. 12, 2022 - Mason Graphite Inc. ("Mason Graphite" or the "Company") (TSXV: LLG) (OTCQX: MGPHF) is pleased to announce that following discussions with certain of its significant shareholders and other stakeholders, the board of directors of the Company (the "Board") has decided to increase the size of the Board from six directors to seven directors, and to appoint Ms. Adree DeLazzer as an additional independent director of the Company, effective following the Annual General and Special Meeting of Shareholders of the Company to be held virtually on December 20, 2022 (the "Meeting").

Mr. Fahad Al-Tamimi, Chairman of the Board commented: "On behalf of the Board we are looking forward to welcoming Adree to the team. Her expertise and experience will be a great addition to the Board."

Ms. DeLazzer has over 15 years of experience in greenfield and brownfield exploration, with a focus on precious metals, rare earth metals (REE), uranium and diamonds. Ms. DeLazzer joined Royal Fox Gold Inc. as Vice President Exploration in September 2021 and continued in the same role with Northern Superior Resources Inc. following the merger with Royal Fox Gold.

Prior to her current role, Ms. Delazzer was with Kirkland Lake Gold Limited, where she held the position of Superintendent of Geology for the Detour Lake Gold Mine in northeastern Ontario, the second largest open pit gold producing mine in Canada, as well as Exploration Manager responsible for overseeing several multimillion-dollar exploration campaigns covering 1,000 km² of greenstone belt in the Abitibi. She is a skilled exploration professional geologist who was notably an integral part of the 58N zone discovery, and of the large West Detour exploration campaigns of 2020 and 2021. Prior to working for Kirkland Lake Gold and Detour Gold, Ms. DeLazzer worked as a Senior Project Geologist on multi commodity targets in Newfoundland and Labrador for Silver Spruce Resources. She also worked as a geologist for BHP Billiton at the Ekati Diamond Mine in the Northwest Territories. Ms. DeLazzer has a B.Sc. in Earth Science from Saint Mary's University in Halifax, Nova-Scotia, and is registered in Ontario as a professional geologist.

The election of Ms. DeLazzer to the Board was not included in the management information circular of the Company dated November 22, 2022 nor the form of proxy or in the voting instruction form sent by the Company in connection with the Meeting given that she was identified as a nominee subsequent to the sending of these materials. As a result, shareholders of the Company will not have the capacity to vote in favour or against the election of Ms. DeLazzer at the Meeting.

Mason Graphite seeks to create shareholder value by engaging a highly skilled, diversified, and experienced team to create and optimize value in projects with minimal environmental impact and positive socio-economic benefits for all stakeholders.

In December 2018, the Company issued positive results for the updated Feasibility Study (FS) of the Lac Guéret project that features a long life of mine and a low-cost operation. On July 14, 2022, the Company announced that it entered an option and joint venture agreement with Nouveau Monde Graphite Inc. ("Nouveau Monde") (NYSE: NMG) (TSX-V: NOU) pursuant to which Mason Graphite granted to Nouveau Monde an option to acquire a fifty-one percent (51%) undivided co-ownership interest in the Lac Guéret property. Mason Graphite is pleased to partner with Nouveau Monde, a leader in developing best practices for Environmental, Social and Governance, to generate shareholder value while complying with the United Nations' Sustainable Development Goals. For more information on Nouveau Monde, visit www.nmg.com.

Mason Graphite also owns 41.49% of the issued and outstanding shares of Black Swan Graphene Inc. (TSX-V: SWAN) (OTCQB: BSWGF), focused on the large-scale production and commercialization of patented high-performance and low-cost graphene products aimed at several industrial sectors, including concrete, polymers, Li-ion batteries, and others, which are expected to require large volumes of graphene and, in turn, need large volumes of graphite.

Our growth strategy includes developing value-added products and acquisitions in our field of activity. We believe graphite is helping fuel the energy transition and countless other applications leading to a cleaner future.

At Mason Graphite, our ambition is to become a leading graphite producer, to position ourselves as a profitable and reliable company for all stakeholders, and to be recognized as a company that benefits community development with which we are partnering. Mason Graphite's leadership is fully engaged in realizing a project that respects and surpasses the recognized standards in sustainable mining development nationally and globally.

At Mason Graphite, we focus on sustainability and minimizing the environmental impact, demonstrating operational excellence while contributing to the local community where we operate. We are committed to all our stakeholders and proud to partner with Nouveau Monde Graphite and Black Swan Graphene. We look forward to building safe, productive, and sustainable operations.

Mason Graphite is a Canadian corporation focused on seeking investment opportunities. Its strategy is to develop vertical and horizontal integration in the mining industry, with a special focus on industrial and specialty minerals, notably battery-related materials and their by-products. Its strategy also includes the development of value-added products, notably for green technologies like transport electrification. The Company currently owns 100% of the rights to the Lac Guéret deposit, one of the richest graphite deposits in the world, which is under an Option and Joint Venture Agreement with Nouveau Monde Graphite Inc. (TSX-V: NOU) (NYSE: NMG). The Company is also the largest shareholder of Black Swan Graphene Inc., a Canadian publicly traded company (TSX-V: SWAN) (OTCQB: BSWGF) focusing on the large-scale production and commercialization of patented high-performance and low-cost graphene products aimed at several industrial sectors, including concrete, polymers, Li-ion batteries and others.

For more information, please visit: www.masongraphite.com.

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.

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SOURCE Mason Graphite Inc.