Graphite One Resources Inc.

Graphite One Resources is exploring with the intent to develop the Graphite Creek Deposit, USA’s only advanced stage large-scale, large flake graphite deposit.

Message: BULLETIN TYPE: Property-Asset or Share Acquisition Agreemen

GRAPHITE ONE RESOURCES INC. ("GPH")tBULLETIN DATE: February 8, 2017TSX Venture Tier 2 Company

TSX Venture Exchange has accepted for filing documentation pursuant to a purchase and sale agreement dated January 24, 2012 (the "Original Agreement"), in addition to an extension agreement dated January 24, 2015 (the "Original Extension Agreement") and a subsequent extension agreement ("New Extension Agreement" together with the Original Agreements, the "Agreements") between the Company and an arm's length vendor (the "Vendor), whereby under terms of the Original Agreement, the Company had acquired 28 mining claims in the State of Alaska. Pursuant to the Original Agreement, these claims are subject to a 2% net smelter return royalty when the mine reaches production and the Company had the right to purchase the royalty within three years from the effective date of the Original Agreement (on or before January 24, 2015) for $1,000,000 in cash (the "Royalty Purchase Option"). Pursuant to the Extension Agreement, the Royalty Purchase Option may be exercised at any time on or befor e the earlier of (i) January 24, 2017, or (ii) the date that is six months after the release by the Company of a feasibility study on the Graphite Creek Property. Pursuant to the terms of the New Extension Agreement, this has been further amended to extend this buy-back until January 24, 2021. In consideration, the Company has agreed to issue to the Vendor 1,666,667 common shares of the Company ("Shares") at a deemed price of $0.10 per Share and 1,153,846 common share purchase warrants ("Warrants"), exercisable any time on or before January 24, 2021 at price of $0.21.

Insider / Pro Group Participation: None

For further information, please see the Company's press release dated January 26, 2017.

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