VANCOUVER, British Columbia, Dec. 21, 2017 — Graphite One Resources Inc. (TSX-V:GPH) (OTCQB:GPHOF) (“Graphite One” or the “Company”) commented today on the release of the US Geological Survey’s report on the Critical Mineral Resources of the United States (the “Report”) and President Trump’s order to develop a federal critical mineral’s strategy. The Report lists 23 metals and minerals that are critical to “the national economy and national security of the United States.” Graphite is one of the 23 materials listed, and is one of just four metals and minerals on the list for which the U.S. is 100% import dependent.
850-page Report is first comprehensive update on US mineral resource landscape since 1973 Oil CrisisGraphite is one of 23 metals and minerals recognized as critical to “national economy and national security”Graphite is one of 4 metals and minerals for which the U.S. is 100% import-dependentReport is followed by a Presidential Executive Order to develop a federal strategy to reduce foreign dependence on critical mineralsPlease click here for full US Geological Survey Report https://pubs.usgs.gov/pp/1802/pp1802_entirebook.pdf Graphite One’s Graphite Creek STAX Graphite Project is a large, high-grade graphite resource situated in Alaska, one of the most pro-mining states in the United States.As reported in February 2017, the Company signed a MOU with the Alaska Industrial Development and Export Authority (“AIDEA”), a public corporation of the State of Alaska whose purpose is to support and encourage the development of Alaska’s natural resources. AIDEA has the authority to finance, develop, and own and operate facilities used in the extraction, production, and transportation of minerals and materials.“The Report and President Trump’s Executive Order track with the ongoing discussions our team has been having with key U.S. officials at the federal level and the State of Alaska, with interest far more intense now than our initial discussions five years ago,” said Anthony Huston, CEO of GPH. “As a major graphite developer in the U.S., Graphite One is seeing a growing awareness that graphite is critical to a full range of new applications – from electric vehicle batteries and energy storage systems to defense weapons platforms. The USGS report makes it clear that 100% import dependence on graphite and other materials pose risks to the U.S. economy and national security.”The Report, formally titled “Critical Mineral Resources of the United States— Economic and Environmental Geology and Prospects for Future Supply,” (USGS Professional Report 1802), updates USGS Report 820, issued 44 years ago during the 1973 oil crisis. The Report represents the U.S. Government’s most comprehensive assessment of the nation’s mineral resource profile and potential, serving to inform federal mineral policy. Secretary Ryan K. Zinke, of the Department of the Interior, which oversees the USGS, stated on the release of the report: “I commend the team of scientists at USGS for the extensive work put into the report, but the findings are shocking. The fact that previous administrations allowed the United States to become reliant on foreign nations, including our competitors and adversaries, for minerals that are so strategically important to our security and economy is deeply troubling. As both a former military commander and geologist, I know the very real national security risk of relying on foreign nations for what the military needs to keep our soldiers and our homeland safe.”The USGS study was followed by the signing of a new Executive Order by President Trump, “A Federal Strategy to Ensure Secure and Reliable Supplies of Critical Minerals.” The Executive Order directs the U.S. Secretaries of the Interior and Defense to prepare a list of critical minerals within 60 days, and to develop and report within 6 months a strategy for reducing foreign dependence on those metals and minerals deemed critical. “This executive order will prioritize reducing the Nation’s vulnerability to disruptions in our supply of critical minerals safely and responsibility for the benefit of the American people,” said President Trump.Graphite One is proposing the development of its Graphite Creek STAX Graphite Project near Nome, Alaska. The project’s Preliminary Economic Analysis, dated June 30, 2017, envisions an integrated project producing about 50,000 tonnes per year of high-value manufactured graphite products over a 40-year mine life. ABOUT GRAPHITE ONE RESOURCES INC.
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