Ceylon Graphite Announces Publication in the Royal Society

VANCOUVER, June 28, 2021 - Ceylon Graphite Corp. ("Ceylon Graphite") (TSX-V:CYL)(OTC:CYLYF)(FSE:CCY) is pleased to announce Ceylon Chief Scientific Executive, Dr. Siva Bohm, and Ceylon Technical Director Dr. Mallika Bohm have published a paper titled "Graphene Production By Cracking" in one of the oldest Journal by the Royal Society, "Philosophical Transaction A". This follows a long list of publications By Drs. Bohm.

The Abstract from the Paper reads as follows:

"In recent years, graphene has found its use in numerous industrial applications due to its unique properties. While its impermeable and conductive nature can replace currently used anticorrosive toxic pigments in coating systems, due to its large strength to weight ratio, graphene can be an important component as a next-generation additive for automotive, aerospace and construction applications. The current bottlenecks in using graphene and graphene oxide and other two-dimensional materials are the availability of cost-effective, high-quality materials and their effective incorporation (functionalization and dispersion) into the product matrices. On overcoming these factors, graphene may attract significant demands in terms of volume consumption. Graphene can be produced on industrial scales and through cost-effective top-down routes such as chemical, electrochemical and/or high-pressure mechanical exfoliation. Graphene, depending on end applications, can be chemically tuned and modified via functionalization so that easy incorporation into product matrices is possible. This paper discusses different production methods and their impact on the quality of graphene produced in terms of energy input. Graphene with an average thickness below five layers was produced by both methods with varied defects. However, a higher yield of graphene with a lower number of layers was produced via the high-pressure exfoliation route."

The Paper can be found at: https://doi.org/10.1098/rsta.2020.0293

Ceylon CEO, Don Baxter stated, "I am excited for Ceylon to have two brilliant scientists on our team. The "high quality material" used to generate the data presented in this paper was vein graphite from Ceylon's mine in Sri Lanka. The work in the paper is related to the company's technical strategy to implement our recently acquired, exclusive licence of graphene production technology (June 14/21 news release) to enhance our graphite anode material for use in lithium ion batteries."

Qualified Person

Donald K.D. Baxter, P. Eng. is a Qualified Person under National Instrument 43-101 and has reviewed and approved the technical information provided in this news release.

About Ceylon Graphite Corp.
Ceylon Graphite is a public company listed on the TSX Venture Exchange, that is in the business of mining for graphite, and developing and commercializing innovative graphene and graphite applications and products. Graphite mined in Sri Lanka is known to be some of the purest in the world and has been confirmed to be suitable to be easily upgradable for a range of applications including the high-growth electric vehicle and battery storage markets as well as construction, healthcare and paints and coatings sectors. The Government of Sri Lanka has granted the Company's wholly owned subsidiary Sarton Development (Pvt) Ltd. an IML Category A license for its K1 mine and exploration rights in a land package of over 120km². These exploration grids (each one square kilometer in area) cover areas of historic graphite production from the early twentieth century and represent a majority of the known graphite occurrences in Sri Lanka.

Further information regarding the Company is available at www.ceylongraphite.com

Don Baxter, Chief Executive Officer

info@ceylongraphite.com

Corporate Communications

1 604-765-8657

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in 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 information as such term is defined in applicable securities laws, which relate to future events or future performance and reflect management's current expectations and assumptions. The forward-looking information includes statements about Ceylon Graphite's grids, Ceylon Graphite's plans to undertake additional drilling and to develop a mine plan, and to commence establishing mining operations. Such forward-looking statements reflect management's current beliefs and are based on assumptions made by and information currently available to Ceylon Graphite, including the assumption that, there will be no material adverse change in metal prices, all necessary consents, licenses, permits and approvals will be obtained, including various Local Government Licenses and the market. 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. Risk factors that could cause actual results to differ materially from the results expressed or implied by the forward-looking information include, among other things, an inability to reach a final acquisition agreement, inaccurate results from the drilling exercises, a failure to obtain or delays in obtaining the required regulatory licenses, permits, approvals and consents, an inability to access financing as needed, a general economic downturn, a volatile stock price, labour strikes, political unrest, changes in the mining regulatory regime governing Ceylon Graphite, a failure to comply with environmental regulations and a weakening of market and industry reliance on high quality graphite. Ceylon Graphite cautions the reader that the above list of risk factors is not exhaustive.