CPTAQ Renders Change in Preliminary Orientation

MISSISSAUGA, July 23, 2021 - Canada Carbon Inc. (the "Company" or "Canada Carbon") (TSX-V:CCB), (FF:U7N1) announces it has received a notification of a change in preliminary orientation from La Commission de Protection du territoire Agricole du Quebec ("CPTAQ") . The decision allows for a further 30 day period for any interested parties to make written submissions.

In its decision rendered July 21, 2021, the CPTAQ indicated that it is prepared to authorize the exploration on 57.88 hectares of the Miller Project for a period of two years. The two year exploration period is intended to allow CCB the opportunity to gather additional information and resubmit its application. This preliminary orientation explicitly approves the reactivation of exploration work on the Miller Property. Accordingly, Canada Carbon will be moving forward with the additional drilling required to finalize the pit design.

In addition to satisfying CPTAQ requirements, the additional information to be obtained from the exploration program will enable Canada Carbon to gather the detailed data required by Ministry of Mines and Ministry of Environment as part of their review processes, and will form part of the Miller Project Feasibility Study.

For further information:

Olga Nikitovic
Interim CEO
Canada Carbon Inc.
info@canadacarbon.com

Valerie Pomerleau
Director Public Affairs and Communications
Canada Carbon Inc.
valerie@ryanap.com
(819) 856-5678

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

FORWARD LOOKING STATEMENTS: This news release contains forward-looking statements, which relate to future events or future performance and reflect management's current expectations and assumptions. Such forward-looking statements reflect management's current beliefs and are based on assumptions made by and information currently available to the Company. Investors are cautioned that these forward looking statements are neither promises nor guarantees, and are subject to risks and uncertainties that may cause future results to differ materially from those expected. These forward-looking statements are made as of the date hereof and, except as required under applicable securities legislation, the Company does not assume any obligation to update or revise them to reflect new events or circumstances. All of the forward-looking statements made in this press release are qualified by these cautionary statements and by those made in our filings with SEDAR in Canada (available at www.sedar.com).