Mr. Guillaume Jacq reports

NORTHERN GRAPHITE CLOSES $2.25 MILLION CHARITY FLOW-THROUGH PRIVATE PLACEMENT

Northern Graphite Corp. has closed its previously announced non-brokered private placement financing for gross proceeds of $2.25-million. Under the offering, Northern issued three million units of the company on a charity flow-through basis at a price of 75 cents per charity flow-through unit. Each charity flow-through unit consists of one common share of the company and one-half of one common share purchase warrant of the company, each issued as a flow-through share under the Income Tax Act (Canada). Each warrant entitles the holder thereof to purchase one common share on a non-flow-through basis at an exercise price of 75 cents for a period of 24 months.

The gross proceeds from the offering will be used to incur, on the company's Canadian mineral exploration properties, eligible resource exploration expenses that will qualify as: (i) Canadian exploration expenses (as defined in the tax act); and (ii) flow-through critical mineral mining expenditures (as defined in Subsection 127(9) of the tax act). The company plans to use the proceeds of the offering to complete a drill program on a number of targets around its graphite mine in Lac des Iles, Que., with the objective of identifying potential new sources of mill feed.

The offering was completed pursuant to the listed issuer financing exemption available in Part 5A of National Instrument 45-106, Prospectus Exemptions, and the securities comprising and underlying the charity flow-through units are not subject to any statutory hold periods.

Upon closing, the company paid a cash finders' fee of $135,000 and issued 180,000 finder warrants to Sprott Capital Partners LP. Each finder warrant is exercisable to purchase one common share at an exercise price of 75 cents per share (not 50 cents per share as previously announced by the company) for a period of 24 months.

The offering is subject to final acceptance of the TSX Venture Exchange.

About Northern Graphite Corp.

Northern is a Canadian company (listed on the TSX Venture Exchange) that is 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-ion batteries/electric vehicles, fuel cells and graphene as well as advanced industrial technologies.

Northern is the only significant graphite-producing company in North America and will become the third largest outside of China when its Namibian operations come back on line. 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.

Qualified person

Gregory Bowes, BSc, MBA, PGeo, the chairman of Northern, is a qualified person as defined under NI 43-101 and has reviewed and approved the content of this news release.

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