BRISBANE, QUEENSLAND, AUSTRALIA – TheNewswire - June 22nd, 2021 - Graphene Manufacturing Group Ltd. (TSXV:GMG) (“GMG” or the “Company”) is pleased to share further performance data of the graphene aluminium-ion coin cell batteries using the patent-pending surface perforation of graphene synthesised by the Company and the University of Queensland (“UQ”).

 The experiments were performed at the Australian Institute for Bioengineering and Nanotechnology (“AIBN”) at UQ. Testing confirmed a very high cycle rate for graphene aluminium-ion coin cell batteries together with minimal reduction in performance over a 3,000 cycle experiment period (which includes charging up to full charge and discharge down to near full discharge) at very high charging rates – including at 2 Ampere per gram (“A/g”) of cathode material for 1000 cycles, 5 A/g of cathode material for 1000 cycles and then 10 A/g of cathode material for a further 1000 cycles.

GMG graphene is currently being used to produce coin cell prototypes for customer testing. A commercial prototype for the coin cell is targeted before the end of 2021.

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Source: University of Queensland. All testing was carried out on coin cells with perforated GMG graphene in aluminium ion battery at ambient temperature cycling from 2.4V to 0.5V, 1000 cycles at 10 Coulomb or 10 C (2 A/g) providing ~ 200 milli-Ampere-hour/gram (“mAh/g”) of capacity, 1000 cycles at 30 C (5 A/g) providing >150 mAh/g of capacity and 1000 cycles at 66 C (10 A/g) providing > 150 mAh/g.  

GMG’s Chief Scientific Officer Dr Ashok Nanjundan said “These results show a very high cycling rate for over 3000 cycles with negligible reduction in performance and at a very high charging rate up to 66 Coulomb or 66 C which is in comparison to what is typically seen with lithium-ion batteries between 600 and 1000 cycles at much lower charging rates of 1/5 C where performance typically reduces to 60% of original capacity”.

GMG will make further disclosures regarding the performance and development of these graphene aluminium ion batteries as the research and development program progresses.

About GMG

GMG is an Australian based clean-tech disruptive company listed on the TSXV (TSXV:GMG) that produces graphene and hydrogen by cracking methane (natural gas) instead of mining graphite. By using the company’s proprietary process, GMG can produce high quality, low cost, scalable, ‘tuneable’ and no/low contaminant graphene – enabling demonstrated cost and environmental improvements in a number of world-scale planet-friendly/clean-tech applications. Using this low input cost source of graphene, the Company is developing value-added products that target the massive energy efficiency and energy storage markets.

The Company is also pursuing additional opportunities for GMG Graphene, including developing next-generation batteries, collaborating with world-leading universities in Australia, and investigating the opportunity to enhance the performance of lube oil, biodiesel and diesel fuels.

For further information, please contact:

- Craig Nicol, Chief Executive Officer and Managing Director of the Company at craig.nicol@graphenemg.com, +61 415 445 223

- Leo Karabelas at Focus Communications, leo@fcir.ca, +1 647 689 6041

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this news release.

Cautionary Note Regarding Forward-Looking Statements

This press release contains "forward-looking information" and "forward-looking statements" within the meaning of applicable securities legislation. The forward-looking statements herein are made as of the date of this press release only, and the Company does not assume any obligation to update or revise them to reflect new information, estimates or opinions, future events or results or otherwise, except as required by applicable law. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects", "is expected", "budgets", "scheduled", "estimates", "forecasts", "predicts", "projects", "intends", "targets", "aims", "anticipates" or "believes" or variations (including negative variations) of such words and phrases or may be identified by statements to the effect that certain actions "may", "could", "should", "would", "might" or "will" be taken, occur or be achieved. Forward-looking information in this press release includes, but is not limited to, statements relating to the manufacturing of prototypes by GMG and UQ, anticipated timelines for commercial prototypes and customer testing, and the results arising from and application of GMG’s graphene aluminium-ion batteries. Such forward-looking statements are based on a number of assumptions of management, including, without limitation, assumptions regarding the accuracy of the Company’s cost and timing expectations, that the Company will be successful in the deployment of its resources and personnel, that the Company’s operations and ability to develop its products will not be adversely impacted by COVID-19, the Company’s ability to research, develop and test its products within anticipated timelines, and that results of testing and development data will be consistent with anticipated results and estimates. Forward-looking statements and information are subject to various known and unknown risks and uncertainties, including, but not limited to, the risk factors set out under the heading "Risk Factors" in the Company's final long form non-offering prospectus dated March 31, 2021 available for review on the Company's profile at www.sedar.com, many of which are beyond the ability of the Company to control or predict. Such risk factors may cause the Company’s actual results, performance or achievements to be materially different from those expressed or implied thereby, and are developed based on assumptions about such risks, uncertainties and other factors set out herein, including, assumptions regarding the Company’s ability to research, develop and test its products within anticipated timelines, and that results of testing and development data will be consistent with anticipated results and estimates. Such forward-looking information represents management's best judgment based on information currently available. No forward-looking statement can be guaranteed and actual future results may vary materially. Accordingly, readers are advised not to place undue reliance on forward-looking statements or information.