Graphite One finds REEs at Graphite Creek

Executive Summary

• Graphite One Inc. has confirmed the presence of rare earth elements (REEs) within its Graphite Creek deposit in Alaska, specifically within garnet-bearing ore rock identified in the feasibility study pit.
• The discovery includes critical heavy rare earths (dysprosium, terbium) and magnet elements (neodymium, praseodymium, samarium), which are vital for defense systems, electric vehicles, and renewable energy.
• The company is currently conducting additional testwork to quantify the REE inventory and is in discussions with a Department of Energy National Lab to develop extraction methods, potentially adding REE recovery as a byproduct to maximize project value.

Key Details

• Location & Context: Graphite Creek deposit, north of Nome, Alaska; identified as the largest known natural graphite deposit in the United States by the USGS.
• Analytical Results: Geochemical analyses by Activation Laboratories Ltd. found REEs in drill core samples of garnet-bearing ore rock within the anticipated pit outlined in the February 2025 feasibility study.
• Specific Elements Identified:
  • Light/Heavy REEs: Neodymium, praseodymium, dysprosium, terbium, and samarium.
  • Other Critical Minerals: Scandium and elevated yttrium.
• Geological Context: Garnets are known for their ability to uptake heavy rare earths and yttrium into their mineral structure.
• Current Activities:
  • Additional testwork is being completed at the University of Alaska Fairbanks advanced instrumentation laboratory and Activation Laboratories to quantify the REE inventory within the host mineralogy.
  • Graphite One is in discussions with a Department of Energy National Lab to develop extraction methods and separation pathways for individual REEs.
• Strategic Significance:
  • Graphite Creek contains two Defense Production Act Title III materials (graphite and REEs) in a single deposit.
  • Highlights strategic importance due to US dependence on China for critical minerals (China imposed export limits on magnet REEs in Feb 2024 and tightened graphite exports in Dec 2024).
• Project Status & Financing:
  • Feasibility study completed 12 months ahead of schedule with $37.5 million in DPA Title III grant support from the Department of War.
  • Received a non-binding letter of interest from EXIM Bank for $570 million in financing for the Graphite Creek mine in September 2025.
  • Previous EXIM letter of interest for $325 million for the Ohio advanced graphite material facility.
• Supply Chain Strategy: Vertically integrated domestic supply chain involving mining at Graphite Creek, transport via Port of Nome, processing at an advanced graphite material and battery anode material manufacturing plant in Warren, Ohio, and a recycling facility co-located at the Ohio site.

Notable Quotes

• "The presence of two Defense Production Act Title III materials -- graphite and REEs -- in a single deposit further underscores Graphite Creek's position as a truly generational deposit... the presence of rare earths at Graphite Creek suggests that recovery as a byproduct to our graphite production will maximize the value." — Anthony Huston, President
• "Garnets are known for their ability to uptake heavy rare earths and yttrium into their mineral structure." — Dr. Kirsten Fristad, Chief Geologist
• "We will now be adding updates on our rare earth byproduct potential." — Mr. Huston