MOU

VANCOUVER, British Columbia, July 13, 2021 (GLOBE NEWSWIRE) — Ceylon Graphite Corp. (“Ceylon”) (TSX-V: CYL) (OTC: CYLYF) (FSE: CCY) announces that the original news release captioned “CEYLON GRAPHITE ANNOUNCES MOU FOR JOINT VENTURE WITH STRATEGIC PARTNER TO DEVELOP AND OPERATE ADDITIONAL NEW GRAPHITE MINES AND A LOCAL UPGRADING FACILITY TO MEET GLOBAL BATTERY ANODE NEEDS”, published on July 7, 2021, referred, incorrectly, to LOLC Holdings PLC (LOLC) as Lanka ORIX Leasing Company Group in the first paragraph. With the exit of ORIX Corporation of Japan in March 2018, LOLC Holdings PLC no longer uses its former name Lanka Orix Leasing Company PLC. All other disclosures were correct.

VANCOUVER, British Columbia, July 07, 2021 (GLOBE NEWSWIRE) -- Ceylon Graphite Corp. (“Ceylon”) (TSX-V: CYL) (OTC: CYLYF) (FSE: CCY) is pleased to announce the execution of a Memorandum of Understanding dated June 30, 2021 (the “MOU”) with two subsidiaries of Lanka ORIX Leasing Company Group (“LOLC”). Pursuant to the MOU, Ceylon Graphite, through its subsidiary, Plumbago Refining Corp B.V. (“Plumbago”), and LOLC, through its subsidiaries LOLC GEO Technologies Ltd. (“LOLCGT”) and LOLC Advanced Technologies Ltd. (“LOLCAT”), will work together to develop new graphite mines outside of the existing Ceylon portfolio, and to construct and operate a state-of-the-art graphite processing facility in Sri Lanka.