Mr. Gregory Bowes reports

NORTHERN GRAPHITE TO ISSUE SHARES IN PAYMENT FOR ADVISORY FEES

Northern Graphite Corp. has agreed to issue 700,000 common shares of the company at a deemed price of 60 U.S. cents (approximately 78 Canadian cents) per share as payment for $420,000 (U.S.) (approximately $546,000 (Canadian)) owed to Nine58 Advisors, an arm's-length investment advisory firm based in London, U.K. Nine58 acted as a financial adviser to the company in connection with its recent acquisition of the Lac-des-Iles, Que., graphite mine and Okanjande, Namibia, graphite project from Imerys S.A. The amount owing is payable for monthly consulting fees and additional finder's fees in relation to the completion of the acquisition.

The shares are expected to be issued immediately following approval from the TSX Venture Exchange and will be subject to resale restrictions of four months and one day thereafter under applicable Canadian securities laws. Issuing shares in satisfaction of the amounts owing will assist the company in preserving its cash for working capital purposes.

About Northern Graphite Corp.

Northern Graphite is a TSX Venture Exchange-listed Canadian company focused on becoming a world leader in producing natural graphite and upgrading it into high-value products critical to the green economy, including anode material for lithium batteries and electric vehicles, fuel cells, and graphene, as well as advanced industrial technologies.

Northern Graphite is the only significant graphite producing company in North America and will become the third-largest non-Chinese producer when its Namibian operations come back on line in the first half of 2023. The company also has two large-scale development projects, Bissett Creek in Ontario and Okanjande in Namibia, that will be a source of continued production growth in the future. All projects have battery-quality graphite and are located close to infrastructure in politically stable countries.

We seek Safe Harbor.