• Adoption of fuel cell technology hinges on the availability of high-purity graphite for specific fuel cell components
• The Ruby Graphite project is the only known combined graphite flake and vein graphite source in the U.S., recent samples assay at 95.8% to 98.4% total carbon
• RFLXF acquired the Ruby Graphite project in 2022, holds mining rights for 755 hectares with 96 federal lode mining claims
• Other graphite applications include the use of specialized fire retardants, in high-speed machinery; as a refractory material in certain manufacturing processes; as a crucial component in lithium-ion batteries; and as a moderator in specific types of nuclear reactors

Fuel cells use an oxidation-reduction reaction to convert fuel into electricity, making them critical to electrification initiatives aimed at improving air quality and reducing fossil fuel dependence. The technology is constantly evolving, however its ultimate success hinges on the availability of high-purity graphite for specific components within the fuel cell stack.

Reflex Advanced Materials Corp. (CSE: RFLX) (OTCQB: RFLXF), a strategic minerals company, is actively exploring its Ruby Graphite project and aims to prove the economics of the historically producing mine and eventually position itself as the premier North American supplier of high-purity natural graphite for advanced technological applications. The company focuses on locating and developing economic properties in the strategic metals and advanced materials space, including the ZigZag Lithium Property in the Thunder Bay Mining Division of Ontario, Canada, and the Ruby Graphite Project in Montana.

The Ruby Graphite project produced roughly 2,400 tons of graphite from 1902 to 1948. It’s also the only known combined graphite flake and vein graphite source in the United States, with recent samples assaying at 95.8% to 98.4% total carbon. The company acquired a 100% interest in the property in 2022, and now holds mining rights for 755 hectares with 96 federal lode mining claims.

RFLXF’s initial drilling program includes 3,500 total meters of drilling cored to an average depth of 130 meters. Targets for the drill program were identified using data gathered for the initial 43-101 technical report dated January 31, 2023, and historical data from original mining operations. The company submitted a permit application to the Montana Bureau of Land Management in March 2023 and expects to start drilling this summer.

RFLXF has also engaged with Lone Star Tech Minerals (“LSTM”), a Texas-based graphite and industrial minerals marketing consulting firm, to help advance the project (https://ibn.fm/iIqAn). Under the terms of the agreement, both companies will develop a production plan, marketing strategy, customer database, and technical data sheet.

According to a recent report by Research and Markets, the graphite market is expected to reach $25.70 billion in 2028 at a CAGR of 8.2% between 2021 and 2028 (https://ibn.fm/P4oPS). Besides powering fuel cells, graphite is also used to produce refractory materials for steelmaking, foundries, and glass manufacturing. Other applications include its use as a dry lubricant in high-speed machinery; as a key component in lithium-ion batteries for portable electronic devices, electric vehicles, and renewable energy systems; and as a moderator in some types of nuclear reactors. 

Graphite demand is expected to surge as the world shifts to electrification. Reflex Advanced Materials Corp. is preparing to meet that demand by developing the Ruby Graphite Deposit and other strategic economic properties in the strategic metals and advanced materials space.

For more information, visit the company’s website at www.ReflexMaterials.com.

NOTE TO INVESTORS: The latest news and updates relating to RFLXF are available in the company’s newsroom at https://ibn.fm/RFLXF

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