Milestone achieved as NextSource Materials begins purchasing processing plant equipment for its Molo graphite mine in Madagascar


TORONTO, ON / ACCESSWIRE / May 11, 2021 / NextSource Materials Inc. (TSX: NEXT) (OTCQB: NSRCF) (“NextSource” or the “Company”) is pleased to announce that it has started sourcing for its Molo graphite mine in Madagascar, prior to the construction of the planned mine in August 2021 and commissioning of the mine in April 2022.

Since securing funding from its new strategic investor, Vision Blue Resources Limited, the company has worked diligently with its EPC (Engineering, Procurement and Construction) company to complete all engineering design preparation work and estimates. final project costs.

Purchase orders have now been placed for the following critical processing plant equipment:

  • Primary, flash flotation and attrition mills
  • Flotation columns and cleaning circuits
  • Screeners, crushers and feeders

Manufacturing and construction of the Molo graphite mine is proceeding as planned, with commissioning scheduled for April 2022. The processing plant is designed to process 240,000 tpa of ore and produce approximately 17,000 tpa of concentrate. High quality SuperFlake® graphite.

Construction activities on the mine site are expected to begin in August 2021. Plant equipment is expected to begin arriving in Madagascar in the fourth quarter of 2021, followed by installation of the site in the first quarter of 2022. Mine commissioning is expected to begin in April 2022, followed by ramp-up to a Phase 1 processing plant capacity of 240,000 tpa of ore producing approximately 17,000 tpa of high quality SuperFlake® graphite concentrate.

President and CEO Craig Scherba P. Geo. Commented:

“We have reached another milestone with the purchase of key items that will form the backbone of the Molo processing plant. This is a testament to the hard work and diligence of our technical team.

ABOUT SUPERFLAKE® GRAPHITE

As announced in November 2015, independent testing by various third party end users of flake graphite has confirmed that NextSource’s SuperFlake® graphite meets or exceeds the quality requirements of all major end markets for natural flake graphite. The main end markets are refractories, the anode material for lithium-ion batteries, specialty graphite sheets used as essential components in the chemical, aerospace and flame retardant industries, and graphene in ink and ink applications. high-end substrate.

As detailed in the Molo 2019 feasibility study, SuperFlake® graphite concentrate can achieve 98% carbon (C) purity with simple flotation.

SuperFlake® graphite concentrate has an excellent flake size distribution which is well above the world average, with 46.4% being classified as +80 (large), +65 (extra large) and +48 ( jumbo) mesh in flake size. Specifically, 23.6% of the SuperFlake® graphite concentrate has a size of +48 mesh and larger. It has excellent thermal expansion, can be easily upgraded to 99.97% purity (battery grade), contains no harmful substances, and has high crystallinity.

SuperFlake® is a registered trademark in the United States, Canada, Japan, South Korea, United Kingdom and the European Union. These key jurisdictions represent the most demanded markets for flake graphite and the locations where NextSource intends to sell its SuperFlake® graphite and anode material.

Please see “Molo Feasibility Study, National Instrument 43-101 Technical Report on the Molo Graphite Project located near the village of Fotadrevo in the Province of Toliara, Madagascar Prepared by Erudite Strategies (Pty) Ltd” dated May 31, 2019 for certain other details and assumptions relating to project parameters, mineral resource and reserve estimates, and data verification procedures.

About NextSource Materials Inc.

NextSource Materials Inc. is a Toronto, Canada-based battery materials development company that aims to become a fully integrated global supplier of batteries and essential technology materials needed to power the sustainable energy revolution.

The Company will enter production in phases and use a fully modular construction approach to construct the Molo graphite mine. Mine commissioning is expected to begin in April 2022, followed by ramp-up to a Phase 1 processing plant capacity of 240,000 tpa of ore, producing approximately 17,000 tpa of graphite concentrate. High quality SuperFlake®.

The Company’s Molo graphite project in Madagascar is considered one of the largest and highest quality graphite deposits in the world and the only project with SuperFlake® graphite. With low-cost operations expected and its mining and environmental permits in place, NextSource Materials has forged strategic and exclusive partnerships with key players in the supply chain to supply graphite-based anode materials to international OEMs for lithium-ion and fuel cell applications, and graphite for high-end, value-added applications where graphite is an essential material.

NextSource Materials is listed on the Toronto Stock Exchange (TSX) under the symbol “NEXT” and on the OTCQB under the symbol “NSRCF”

Mr. Craig Scherba, P.Geo., President and CEO of NextSource, is the Qualified Person who has reviewed and approved the technical information provided in this press release.

For more information on NextSource, visit our website at www.nextsourcematerials.com or contact us at +1.416.364.4911 or email Brent Nykoliation, Executive Vice President of This e-mail address is protected from spam. You need JavaScript enabled to view it. or Craig Scherba, President and CEO of This e-mail address is protected from spam. You need JavaScript enabled to view it..

Safety sphere:

This press release contains statements that may constitute “forward-looking information” or “forward-looking statements” (“forward-looking statements”) within the meaning of applicable securities laws in Canada and the United States. Readers are cautioned not to place undue reliance on these forward-looking statements. Forward-looking statements in this release include statements regarding the procurement process and the timing of those items in that process, a sales agreement with off-take partners, collaborative arrangements to build a value-added SPG (anode) facility , BAF commissioning time, demand for electric vehicles and hybrid electric vehicles, use of SuperFlake, successful and budgeted construction of Molo Graphite project, SPG factory and BAF, fundraising to construction of the BAF, expansion of the BAF, estimation of future production of the Molo Graphite Project, completion of technical studies and expansion of the Molo Graphite Project. These statements are based on current expectations, estimates and assumptions which involve a number of risks, which could cause actual results to vary and, in certain cases, differ materially from those anticipated by the Company and described in the forward-looking statements contained. in this press release, including the risk that the Molo Graphite Mine will not be constructed according to the planned time and cost estimates, that the mineral reserve and resource estimates for the Molo Graphite Project are incorrect, that the recoveries and expected costs to produce SPG are incorrect, and that permits and licenses to operate the Molo Graphite project cannot be renewed or may be revoked. No assurance can be given that any of the events anticipated by the forward-looking statements will or will occur or, if any of them do, what benefits the Company will derive from them. The forward-looking statements contained in this press release are made as of the date of this press release and the Company assumes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, events future or otherwise, except as required by applicable securities laws.


Leon E. Hill

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