Mr. Hugues Jacquemin reports

NORTHERN GRAPHITE AND BMI GROUP TO COLLABORATE ON DEVELOPMENT PLAN FOR BATTERY ANODE MATERIAL FACILITY AT FORMER BAIE-COMEAU PAPER MILL

Northern Graphite Corp. and the BMI Group (BMI) are partnering to evaluate the feasibility of establishing a battery anode material (BAM) facility at a former paper mill in Baie-Comeau, Que., that is being developed by BMI as the Norderra multimodal industrial hub.

Northern and BMI will collaboratively engage local authorities and utility providers to secure the necessary power supply to build a stage 1, 50,000-tonne-per-year BAM hub in Baie-Comeau, and to maximize the site's economic benefits and minimize its environmental impacts with respect to the city, the Innu of Pessamit and other local stake holders. The partners will also review the site's viability from the perspective of operational requirements, infrastructure and zoning regulations.

"Reactivating this site with all of its established infrastructure could accelerate construction of a BAM plant, reduce time to market, and advance Quebec and Canada's critical mineral strategy while creating new jobs and economic stimulus for the region," said Northern chief executive officer Hugues Jacquemin. "With graphite demand projected to surge in coming years, this is an opportunity to position Canada as a leader in battery materials essential for EVs and renewable energy."

The proposed Baie-Comeau BAM hub could be located at either Norderra, BMI's infrastructure-ready node on its planned critical mineral corridor which connects Northern Ontario and Quebec's mineral resources with manufacturing hubs and global markets, or at an alternative 300-acre greenfield site owned by the city. Northern is currently evaluating both options but the Norderra location has significant advantages in terms of existing infrastructure and speed to market.

"This partnership would significantly contribute to putting the former mill's infrastructure to use, advancing the Norderra development and unlocking the full potential of the region's graphite resources," said Paul Veldman, chief executive officer of the BMI Group.

Battery anode material, the single largest component of lithium-ion batteries, is made by upgrading graphite mine concentrate to the exacting specifications of EV (electric vehicle) battery manufacturers and Northern's Baie-Comeau initiative addresses this critical need that is currently missing from the energy transition supply chain.

If the partnership proceeds, it would advance the BMI Group's burgeoning critical minerals infrastructure as well as help turn Northern into one of the world's largest integrated graphite producers. Feedstock will be supplied from Northern's LDI mine in Quebec and development projects in Namibia, and Ontario. The Baie-Comeau plant will complement Northern's planned BAM facility in France, recently selected as a strategic project under the EU's Critical Raw Materials Act.

About the critical mineral corridor

BMI Group's critical mineral corridor is being structured to connect Ontario and Quebec's mineral resource regions to global markets through strategic infrastructure. The network establishes three key connection points: the Port of Red Rock development as the northernmost port on the Great Lakes and closest to the region's lithium deposits and Ring of Fire; the Bioveld Niagara multimodal enterprise campus in Thorold -- part of the Niagara Ports Network in partnership with HOPA and Norderra in Baie-Comeau at the mouth of the Atlantic. This integrated system creates a stable, secure supply chain for lithium, graphite nickel, copper and cobalt. These minerals, essential for electric vehicles and renewable energy technologies, will flow through this corridor from Canadian deposits to manufacturing centres and European markets. The corridor will also integrate minerals from international sources, further strengthening its role as a comprehensive mineral processing and distribution network.

About the BMI Group

the BMI Group specializes in ready-stating and refuturing strategic properties for high-impact, multiuse developments across the industrial, commercial, residential and hospitality sectors. With a focus on enhancing social and economic potential through multisector collaboration, BMI delivers new opportunities for investment, innovation and community revitalization.

About Northern Graphite Corp.

Northern, the only flake graphite producing company in North America, is a Canadian, TSX Venture Exchange-listed, company 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/EVs, 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 and is focused on developing advanced anode materials to improve the cycle life and increase the charging rate of lithium-ion batteries and on marketing Northern's patented Porocarb product.

Northern's graphite assets include the producing Lac des Iles mine in Quebec where the company plans to increase production to meet growing demand from industrial customers and coming demand from North American battery makers. The company also owns the large-scale, advanced-stage Bissett Creek project in Ontario, the Mousseau project in Quebec and the fully permitted Okanjande graphite mine in Namibia that is currently on care and maintenance. All projects have battery quality graphite and are located close to infrastructure in politically stable jurisdictions.

We seek Safe Harbor.