Applied Graphite Technologies Corporation ("AGT"), (TSXV: AGT) announces the acquisition of additional surface rights within the Queens Mines Complex ("QMC"). The QMC is located in the heart of the best graphite geology in Sri Lanka. Two of the three operating mines in Sri Lanka are located nearby and the QMC contains both historic and recent mine workings.

AGT has conducted geophysical surveys across the QMC to identify the graphite veins to depth and is currently compiling the data for near term release. Eight diamond drill holes also identify vein systems along trend from the historic mine.

"The additional three properties acquired within the QMC, are adjacent to our existing properties to make AGT's surface rights contiguous," comments Don Baxter, CEO. "AGT now owns the surface rights and holds subsurface rights over the QMC. We acquired these properties for their strategic location within AGT's exploration zone, covering known graphite veins and to locate future mine infrastructure."

Properties A, G, and grey shaded property, joined with D1, Q2 and Q1 to make QMC contiguous

The technical information in this news release has been prepared by Don Baxter, P.Eng., a "qualified person" as defined in National Instrument 43-101 Standards of Disclosure for Mineral Projects ("NI 43-101").

About Applied Graphite Technologies

Applied Graphite Technologies is developing the Queens Mine Complex in Sri Lanka. The QMC is on private land in the heart of the vein graphite district, with historical workings and vein graphite outcrops. Vein graphite is naturally high grade (+95% carbon content in the ground) and does not require primary processing. Testing of vein graphite in lithium-ion battery anodes has shown very high capacities, performing better than synthetic graphite. Natural vein graphite has a far superior ESG footprint than synthetic and is cheaper without compromising performance.

SOURCE Applied Graphite Technologies Corporation