CEYLON GRAPHITE ACHIEVES BREAKTHROUGH RESULTS WITH SILICON ENHANCED ANODE GRAPHITE IN FULL CELL LITHIUM-ION BATTERIES

• Ceylon Graphite’s unique natural vein graphite material enhanced with nano silicon additives has substantially outperformed industry standard synthetic graphite by more than 10%, We note CYL’s discharge capacity of 171 mAh/g, as compared to the industry standard of 153 mAh/g
• We believe that the impressive performance of our vein graphite material is due to the following:
  • High crystallinity of vein graphite;
  • High purity and further purification technology; and,
  • CYL proprietary nano silicon graphene encapsulation coating and spherodizing technology.
• Ceylon Graphite continues to evaluate full cell performance at University College London in the UK.
• Ceylon has a mine-to-battery strategy that will maximize the value of our high-grade Sri Lankan vein graphite by transforming it into anode graphite for the rapidly growing lithium-ion battery market.

VANCOUVER, British Columbia, March 21, 2022 (GLOBE NEWSWIRE) — Ceylon Graphite Corp. (“Ceylon”) (TSX-V: CYL) (OTC: CYLYF) (FSE: CCY) is pleased to announce it has achieved a significant breakthrough in the performance of its vein graphite anode material in full cells for the lithium-ion (“Li-ion”) battery market. In tests at University College London (UCL), a leading global, independent facility, Ceylon’s vein graphite anode material far exceeded comparable anodes made with industry standard commercial synthetic graphite. This is the first time in battery research history that commercial spherodized vein graphite materials were tested in a lithium-ion battery in a full cell.

Remarkable results have been achieved for Silicon enhanced Ceylon Natural Vein Graphite anode materials as the company continues to make progress on developing its Graphite for Li-ion battery anode material. Initial results indicate an improved performance of silicon enhanced Ceylon vein graphite with specific discharge capacity (SDC) of 171 mAh/g, compared to 153 mAh/g for the current high end commercial synthetic graphite (summarized in Chart Below).

Testing continues to produce extended cycling performance data and, the cells exhibit expected trends in reversible charge/discharge trends. Meanwhile, Ceylon Graphite’s technical team continues to optimize its in-house developed core-shell silicon additive technology to achieve stable charge/discharge performance.

“We had very good results from our initial half-cell silicon enhanced battery tests, but this exceeded my expectations for full cell silicon enhanced batteries,” stated Ceylon CEO Don Baxter. “These results are a highly significant development for Ceylon. The unique characteristics of our Sri Lankan vein graphite combined with our proprietary processing technologies produces a Li-ion battery with significantly higher power and energy as evaluated by UCL. Based on the results, Ceylon’s graphite will set a new industry standard.”

Further, Ceylon’s industry leading performance is combined with outstanding ESG achievements given the energy consumption of the end-to-end process of producing battery grade anode material from vein graphite is the lowest, relative to synthetic and flake graphite,” added Baxter. It is a fact that vein graphite from Sri Lanka does not require primary processing, due to the high in situ grade above 90%Cg, giving us a huge environmental advantage over competitors.”