Mason Graphite Inc. ("Mason Graphite" or the "Company") (TSXV: LLG) (OTCQX: MGPHF) wishes to congratulate Black Swan Graphene Inc. ("Black Swan") (TSXV: SWAN) on the closing of its Qualifying Transaction (as such term is defined in TSX Venture Exchange (the "TSXV") Policy 2.4 – Capital  Pool Companies) announced by Black Swan in its news release dated August 2, 2022. At market open on Tuesday August 9, 2022, Black Swan's common shares will commence trading on the TSX Venture Exchange (the "TSX-V") under the ticker symbol "SWAN".  Mason Graphite owns approximately 41.49% of the issued and outstanding shares of Black Swan.

Mason Graphite is a Canadian corporation focused on the production and transformation of natural graphite. Its strategy includes the development of value-added products, notably for green technologies like transport electrification. The Company also owns 100% of the rights to the Lac Guéret deposit, one of the richest graphite deposits in the world. The Company is also the largest shareholder of Black Swan Graphene Inc., a Canadian private company focusing on the large-scale production and commercialization of patented high-performance and low-cost graphene products aimed at several industrial sectors, including concrete, polymers, Li-ion batteries and others.

For more information, please visit: www.masongraphite.com.

Black Swan Graphene Inc. is focused on the large-scale production and commercialization of patented high-performance and low-cost graphene products aimed at several industrial sectors, including concrete, polymers, Li-ion batteries, and others, which are expected to require large volumes of graphene and, in turn, require large volumes of graphite. Black Swan aims to leverage the low cost and green hydroelectricity of the province of Québec as well as the proximity of the eventual production sites of Mason Graphite in order to establish a fully integrated supply chain, reduce overall costs, and accelerate the deployment of graphene usage.

For more information, please visit: www.blackswangraphene.com

Mason Graphite Inc. on behalf of the Board of Directors: 
"Peter Damouni", Executive Director 
Mason Graphite Inc.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.