Applied Graphite acquires surface rights at Queens

Executive Summary

• Applied Graphite Technologies Corp. acquired three additional surface‑rights properties within the Queens Mine Complex (QMC) in Sri Lanka, making its surface holdings contiguous with existing assets.
• The company has completed geophysical surveys and eight diamond drill holes to delineate graphite vein systems across the newly acquired area.
• Ownership now includes both surface rights and subsurface rights over the QMC, supporting future mine infrastructure development.

Key Details

• Acquisition Scope: Three adjacent properties within the Queens Mine Complex were purchased, expanding AGT’s contiguous surface‑rights footprint.
• Location: QMC is situated in Sri Lanka’s premier vein‑graphite district, near two operating mines and historic workings.
• Rights Secured: AGT now holds both surface rights and subsurface mineral rights over the entire QMC area.
• Exploration Work:
• Geophysical surveys have been conducted across the QMC to map graphite veins at depth; data are being compiled for near‑term release.
• Eight diamond drill holes were completed, confirming vein systems along trends from historic mining areas.
• Strategic Rationale: The acquisition enhances AGT’s ability to locate future mine infrastructure and consolidates its exploration zone around known high‑grade graphite veins.
• Qualified Person Statement: Technical information prepared by Don Baxter, P.Eng., qualified under NI 43‑101.

Notable Quotes

“The additional three properties acquired within the QMC are adjacent to our existing properties to make AGT's surface rights contiguous,” said Don Baxter, CEO. “We acquired these properties for their strategic location within AGT's exploration zone, covering known graphite veins and to locate future mine infrastructure.”