Graph 2: Multi-cycle charge-discharge curves for coin cell 1211 (direct spheroidized, uncoated graphite) showing first reversible capacity of 361 Ah/kg. Second and third discharge curve and capacity approximate first cycle discharge results.

Graph 3: Continuous cycling curve for cycles 16 to 26 for coin cell 1211 cycled at rate of C/3 showing consistent charging and discharging over a 50 hour period

The graphite used for the coin cell tests was extracted from surface historic mine working samples which were first segregated into three lots by visual inspection. Each lot was then analyzed to determine which of the three corresponded to the mineralogy of the higher graphite grading zone (Zone 1) targeted for initial exploitation as identified in the Company's conceptual study prepared by TRU Group. The graphite sample lot that corresponded to Zone 1 was then characterized to confirm the occurrence of STAX morphology. Once this was confirmed, that sample was processed to extract an impure concentrate, which was subsequently purified to at least 99.98+% fixed carbon. This material was then processed into SPG. As previously reported, high (74%) conversion yield from flake graphite to SPG was achieved at lower energy intensity by direct spheroidization of the purified flake graphite - an achievement attributed to the STAX graphite morphology and properties inherent to the Company's Graphite Creek deposit. As these samples were selected, they may not be representative of the Graphite Creek deposit as a whole and the findings of these preliminary metallurgical results must be confirmed by further test work on drill core samples.

Roumeliotis also stated: 'The graphite concentrate extracted from the surface sample used in this exploratory R&D phase conforms to graphite that was similarly extracted and characterized from samples originating from drill core segments that were from Zone 1.'

Follow-up testwork will be conducted on graphite concentrate produced from testwork currently underway that is validating the mineral processing flowsheet using drill core segments from Zone 1.

Management of Graphite One and TRU Group will hold a conference call to discuss these results in detail on Thursday May 26, 2016 at 10:00 am PST (1:00pm EST). Conference call-in numbers are (647) 788-4919 (Local or International) and (877) 291-4570 (Operator Assisted Toll-Free).

About Graphite One

GRAPHITE ONE RESOURCES INC. (GPH: TSX-V; GPHOF: OTCQX) is exploring with the intent to develop the Graphite Creek Project, USA's largest known large flake graphite deposit situated on the Seward Peninsula of Alaska about 60 kilometers north of Nome. The deposit has 17.95 million metric tons of indicated resources grading 6.3 percent graphitic carbon and 154.36 metric tons of inferred resources at 5.7 percent graphitic carbon identified. The Graphite Creek Project is progressing from the exploration to the evaluation phase. Work to date has identified a large, high grade and at-surface resource with simple geology and good mineralization continuity. For more information please see www.graphiteoneresources.com.

Mr. David Hembree, C.P. Geol., General Manager Operations for Graphite One and a Qualified Person under NI 43-101, is responsible for and has reviewed and approved the technical content of this press release.

ON BEHALF OF THE BOARD OF DIRECTORS

'Anthony Huston' (signed)

For more information on Graphite One Resources Inc. please visit the Company's website, www.GraphiteOneResources.com or contact:

Anthony Huston

CEO, President & Director
Tel: (604) 889-4251
Email: [email protected]

Investor Relations Contact
1-604-684-6730
[email protected]

Neither the 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.

This release includes certain statements that may be deemed to be forward-looking statements. All statements in this release, other than statements of historical facts, are forward-looking statements. Forward-looking information in this release includes, but is not limited to, statements regarding the actual ability to produce spherical graphite, ultimate further and final results of the test-work, the anticipated progress of both the TRU Group and Graphite One during 2016, the timing and successful completion of the PEA, the industry projections regarding electric vehicles and smart grid power storage devices, the results of the TRU Group's study being accurate regarding the characteristics of the Graphite Creek mineralization, exploration drilling, exploitation activities and events or developments that the Company expects, the sustainability and ultimate environmental effects of spherical graphite, are all forward-looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include the results of the product development test work may not be indicative of the advancement of the project as anticipated, or at all, market prices, exploitation and exploration successes, continuity of mineralization, uncertainties related to the ability to obtain necessary permits, licenses and title and delays due to third party opposition, changes in government policies regarding mining and natural resource exploration and exploitation, and continued availability of capital and financing, and general economic, market or business conditions. Readers are cautioned not to place undue reliance on this forward-looking information, which is given as of the date it is expressed in this press release, and the Company undertakes no obligation to update publicly or revise any forward-looking information, except as required by applicable securities laws. For more information on the Company, investors should review the Company's continuous disclosure filings that are available at www.sedar.com.