Mr. Hugues Jacquemin reports

NORTHERN GRAPHITE ANNOUNCES GRAPHITE PRICE INCREASE, MILL RESTART

Northern Graphite Corp. has negotiated significant price increases with customers for its graphite for 2025 to reflect rising costs of production and inflation. The company also announces that the Lac des Iles (LDI) processing facility, halted for maintenance on Nov. 2, will resume operations on Jan. 13.

"In order to ensure increased, stable production in 2025 and keep up with rising market demand, we have successfully completed a maintenance shutdown at the Lac des Iles mill, which will resume normal operation on Jan. 13," said chief executive officer Hugues Jacquemin. "We have also negotiated new pricing with our customers to accommodate inflation and the rising costs of production. We are starting the year with a strong order book, reflecting continued robust demand as well as recent geopolitical events and supply chain concerns."

Growing output from the cornerstone LDI mine is critical to Northern's strategy as it works toward becoming a vertically integrated, mine-to-market supplier to traditional downstream customers and to the emerging market for battery anode material (BAM) as well as for next generation all solid state battery chemistries. The company moved the LDI plant to a seven-day-a-week schedule in April of 2024, boosting output by 59 per cent year over year, and plans to increase output further.

About Northern Graphite Corp.

Northern is a Canadian, TSX Venture Exchange-listed company that is the only flake graphite producing company in North America. Northern 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/EVs (electric vehicles), fuel cells and graphene, as well as advanced industrial technologies. The company's mine-to-battery strategy is spearheaded by its battery materials division, which has a fully equipped, state-of-the-art laboratory in Frankfurt. The division is focused on developing advanced anode materials to improve the cycle life and charging rate of lithium-ion batteries, and on marketing Northern's licensed, patented Porocarb product.

Northern's graphite assets include the producing Lac des Iles mine in Quebec, where the company is boosting output to meet growing demand from industrial customers and coming demand from North American battery makers. The company also owns the large-scale Bissett Creek project in Ontario and the fully permitted Okanjande graphite mine in Namibia, which is currently on care and maintenance and represents an opportunity to substantially increase graphite production at a lower cost and with a shorter time to market than most competing projects. All projects have battery-quality graphite and are located close to infrastructure in politically stable jurisdictions.

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