Mr. Hugues Jacquemin reports

NORTHERN GRAPHITE ENTERS INTO AGREEMENTS FOR INTELLECTUAL PROPERTY TRANSACTIONS

Northern Graphite Corp. has entered into agreements for certain intellectual property transactions related to its carbon material processing technology as it looks to finance its integrated growth strategy and focus efforts on natural graphite.

Almost a year after the company licensed the carbon material processing technology for synthetic carbon and launched the Northern Graphite Battery Materials Group to spearhead its ambition to become an integrated mine-to-battery company, the company has signed an agreement to acquire the patents, trademarks and other intellectual property of the carbon material processing technology previously licensed from Heraeus to develop, produce and sell Porocarb, giving it complete control of the technology.

The Northern group has also entered into an agreement to license its carbon material processing technology for synthetic carbon to an arm's-length third party for industrial applications.

"Since the launch of our Battery Materials Group in January of last year, we have significantly advanced plans to scale the development, production and commercialization of the carbon-material-processing-technology-related materials with our customers and partners," said Northern chief executive officer Hugues Jacquemin. "In acquiring the intellectual property, our strategy is to establish development agreements with our customers and license the technology to third parties to generate revenue and speed access to market."

In a first phase under the licence of its carbon material processing technology, Northern group will receive a technology transfer and exclusivity reservation fee of up to $7-million (U.S.) payable in instalments, subject to certain conditions, including the licensee conducting due diligence on the technology to its satisfaction, the execution of definitive long form licence agreement with the licensee in respect of the carbon material processing technology and the company's completion of the acquisition of the Porocarb intellectual property.

In a second phase, Northern group will receive royalties based on the definitive licensing agreement for the carbon material processing technology. For the year 2026 and year 2027, the licensee will prepay $1-million (U.S.) each year to the Northern group in respect of the royalty to be agreed by the parties in the definitive agreements, subject to the fulfilment of certain conditions as set out in the first phase.

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/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 Group, which has a fully equipped, state-of-the-art laboratory in Frankfurt.

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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