Mr. Hugues Jacquemin reports

NORTHERN GRAPHITE CELEBRATES 35TH ANNIVERSARY OF LAC DES ILES MINE WITH SPECIAL REPORT ON NORTH AMERICA'S ONLY GRAPHITE PRODUCER

Northern Graphite Corp. has published a special report on its cornerstone asset, the Lac des Iles (LDI) graphite mine in Quebec.

The report, Lac des Iles Graphite Mine Marks 35 Years: Evolving with a Changing World, tracks LDI's trajectory from its first shovelful of graphite-bearing ore in 1989 through to supplying more than 20 per cent of the United States industrial market for graphite today. It then explores Northern's plan to evolve into also suppling battery-grade graphite with a low carbon footprint to support the global energy transition and EV (electric vehicle) evolution.

"Our special report explores the significant opportunity set at Lac des Iles at a time when the West is positioning itself to create a domestic supply chain of the minerals critical to the energy storage and electric vehicle markets," said Hugues Jacquemin, chief executive officer of Northern Graphite. "I encourage everyone to read the full report to fully understand our vision and the transformative role Northern can play by leveraging LDI and its other projects to fill the gap in the West's EV supply chain. The report not only details our strategy for resource expansion and infrastructure enhancement but also offers insights into the financing challenges we face in today's market."

The report is illustrated with historical and contemporary photographs, and features in-situ video explainers from key personnel. It showcases LDI's origins, how the world has transformed in the interim, where the mine is headed in this new era of energy transition and the challenges it will have to overcome to get there.

Key highlights in the report include:

• Resource expansion: exploration efforts to expand LDI's resource base;
• Development of a new pit: plans to open the mine's first new pit in over a decade to ensure continuous production;
• Mill revitalization: repairs and maintenance on the LDI mill to return it to nameplate capacity and ensure a reliable supply to industrial customers and emerging battery markets;
• Sustainability: remediation and reclamation efforts to return borrowed land to the environment in a sustainable manner;
• Financing challenges: the capital necessary to execute the company's plans is hard to come by amid weak financial markets for junior companies, stubbornly low graphite prices and an energy transition that is unfolding at a slower-than-expected pace.

"Governments and strategic partners have been very slow or unwilling to step up to the plate despite recognizing the urgent need for secure, Western sources of sustainably produced critical minerals and for downstream processing capability. If we are unable to secure additional capital, the company will be forced to put LDI on care and maintenance in the near term while keeping operations as lean as possible," said Mr. Jacquemin. "That said, we have a winning formula to build a bigger mine here that will supply graphite over a long period of time to meet increasing market demand."

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, fuel cells and graphene, as well as advanced industrial technologies.

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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