Mason Graphite Announces the Acceptance of its Environmental Impact Study by the Quebec Government

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Mason Graphite Announces the Acceptance of its Environmental Impact Study by the Quebec Government

MONTREAL, QUEBEC--(Marketwired - June 6, 2017) - Mason Graphite Inc. ("Mason Graphite" or the "Company") (TSX VENTURE:LLG)(OTCQX:MGPHF) is pleased to announce material progress in its permitting process related to the Lac Guéret project with the acceptance (la "recevabilité") of its Environmental Impact Study (''EIS") by the Minister of Sustainable Development, Environment, and the Fight against Climate Change ("MDDELCC"). The EIS, originally filed in November 2015, will now be rendered public in its complete form. A summary was presented to the hosting populations and made publicly available in June 2016, summary on which they provided questions and comments which were taken into consideration in the final version of the EIS. 

From a process standpoint, the file now progresses towards the Bureau d'audiences publiques sur l'environnement ("BAPE") (public hearing office on the environment). This government body will make available to the hosting populations the EIS in its entirety for a prescribed period of 45 days, at the end of which the Minister will receive a factual report on the conduct of the information and consultation period. The Minister will then determine whether a formal public hearing process is required prior to the determination of the project's eligibility to receive its final general certificate of authorization.

Mason Graphite has already conducted, in the last 4 years and more actively in the last 18 months, several general and focused information meetings with the active participation of the communities of Baie-Comeau and Pessamit. Based on those interactions, Mason Graphite indicates that the local support seems to be positive. Therefore, the timeline triggered by this milestone should allow Mason Graphite to achieve its goal of commencing construction later this year. The 45-day information period will commence on June 13th.

Benoît Gascon, President and CEO of Mason Graphite, commented: "On behalf of everyone at the Company, I would like to thank everyone involved at the MDDELCC for their work and continued assistance throughout this process. The Company would also like to thank the communities of Baie-Comeau and Pessamit for their engaged and active participation which makes possible the social engagement necessary to sustainable development. The Company also recognizes the support provided by the Société du Plan Nord and the RMBMU (Réserve mondiale de la biosphère de Manicouagan-Uapishka)."

UPDATE ON THE CONSTRUCTION OF A ROAD SEGMENT TO MASON GRAPHITE'S SITE IN BAIE-COMEAU

In a prior communication, Mason Graphite indicated that a contract had been awarded by the City of Baie-Comeau for the construction of a 1.2 km road segment, along with all related services, linking the Company's plant site, in the Industrial Park Jean-Noël-Tessier, to the neighboring highway. The Company is pleased to report that significant progress has been made such that access to the plant site should be completed before Mason Graphite begins construction. This road segment is Government funded and its construction has been specifically advanced for Mason Graphite.

About Mason Graphite and the Lac Guéret Project

Mason Graphite is a Canadian mining and processing company focused on the development of its 100% owned Lac Guéret natural graphite deposit located in northeastern Québec. The Company is led by a highly experienced team that has over five decades of experience in graphite production, sales, and research and development. For more information, visit www.masongraphite.com.

Mason Graphite Inc. On Behalf of the Board

"Benoît Gascon, CPA, CA", President & Chief Executive Officer

Cautionary Statements

This press release contains "forward-looking information" within the meaning of Canadian securities legislation. All information contained herein that is not clearly historical in nature may constitute forward-looking information. Generally, such forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information, including but not limited to: (i) volatile stock price; (ii) the general global markets and economic conditions; (iii) the possibility of write-downs and impairments; (iv) the risk associated with exploration, development and operations of mineral deposits; (v) the risk associated with establishing title to mineral properties and assets; (vi) the risks associated with entering into joint ventures; (vii) fluctuations in commodity prices; (viii) the risks associated with uninsurable risks arising during the course of exploration, development and production; (ix) competition faced by the resulting issuer in securing experienced personnel and financing; (x) access to adequate infrastructure to support mining, processing, development and exploration activities; (xi) the risks associated with changes in the mining regulatory regime governing the resulting issuer; (xii) the risks associated with the various environmental regulations the resulting issuer is subject to; (xiii) risks related to regulatory and permitting delays; (xiv) risks related to potential conflicts of interest; (xv) the reliance on key personnel; (xvi) liquidity risks; (xvii) the risk of potential dilution through the issue of common shares; (xviii) the Company does not anticipate declaring dividends in the near term; (xix) the risk of litigation; and (xx) risk management.

Forward-looking information is based on assumptions management believes to be reasonable at the time such statements are made, including but not limited to, continued exploration activities, no material adverse change in metal prices, exploration and development plans proceeding in accordance with plans and such plans achieving their stated expected outcomes, receipt of required regulatory approvals, and such other assumptions and factors as set out herein. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in the forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such forward-looking information. Such forward-looking information has been provided for the purpose of assisting investors in understanding the Company's business, operations and exploration plans and may not be appropriate for other purposes. Accordingly, readers should not place undue reliance on forward-looking information. Forward-looking information is made as of the date of this press release, and the Company does not undertake to update such forward-looking information except in accordance with applicable securities laws.

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.

For more Information:
Simon Marcotte, CFA,
Vice-President Corporate Development
+1 (647) 801-7273
[email protected]

For more information relating to local communities:
Luc Veilleux, CPA, CA,
Executive Vice-President and CFO
+1 (514) 289-3582
[email protected]

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