Calgary, Alberta--(Newsfile Corp. - July 7, 2026) - Volt Carbon Technologies Inc. (TSXV: VCT) (OTCQB: TORVF) (BE: WNF) ("VCT", "Volt" or "Volt Carbon") is pleased to announce that it has entered into a Commercial Toll Processing Agreement (the "Agreement") with Northern Ore Resources Inc. ("Northern Ore" or "NOR") on July 3rd 2026, marking the first commercial deployment of the Company's patented Air Classifier with an initial one-year term which automatically renews for successive one-year terms unless terminated in accordance with its provisions.
The Agreement provides for a minimum annual committed processing volume of 40,000 metric tonnes of vermiculite and a contractual minimum annual revenue commitment of USD $4.0 million, subject to the terms and conditions of the Agreement including the satisfaction of mutually agreed recovery rates. Concurrently, the parties entered into a Share Issuance Agreement pursuant to which Volt will receive a 2.5% equity interest in Northern Ore, subject to required approvals and the terms of the Share Issuance Agreement.
In addition to the vermiculite processing program, Northern Ore has identified a high-grade graphite occurrence on its property. Six rock samples, selected by Northern Ore as being representative of the graphite-bearing vein, were submitted to Volt Carbon's Guelph laboratory for thermogravimetric analysis (TGA). The unseparated samples averaged approximately 49.8% graphite (Cg), with four of the six samples returning graphite grades in excess of 50% Cg. Initial Air Classifier processing trials demonstrated the potential to produce flake graphite concentrates. The testing completed to date is preliminary in nature, based on a limited number of samples provided by Northern Ore, and is not necessarily representative of the overall graphite occurrence, any mineral resource, or future commercial production results.
The Agreement establishes a framework for the future commercialization of this graphite resource and includes a contractual commitment by Northern Ore to supply a minimum of 10,000 tonnes of graphite material annually to Volt for processing. The graphite program remains subject to laboratory testing, Air Classifier trials and product qualification. Subject to successful completion of this work, the parties intend to negotiate a downstream commercial agreement for the production of flake graphite concentrates and graphene products. The parties currently intend that profits from these value-added products will be shared equally, subject to the execution of definitive agreements.