Mr. Hugues Jacquemin reports

NORTHERN GRAPHITE COMPLETES $1.35 MILLION NON-BROKERED PRIVATE PLACEMENT

Northern Graphite Corp. has completed a non-brokered private placement financing under which it has issued 10.8 million common shares of the company at a price of 12.5 cents per offered share for aggregate gross proceeds of $1.35-million. The BMI Group was the lead investor under the private placement. The private placement, along with the non-brokered private placement announced on Oct. 10, 2025, completes the total $2.2-million non-brokered private placement previously disclosed by Northern in September, 2025.

The net proceeds from the private placement will be used for the feasibility study on Northern's planned battery anode material (BAM) facility in Baie-Comeau, Que., and for working capital and corporate expenses.

"The participation of The BMI Group in this financing reflects confidence in Northern's assets and strategy and supports the advancement of battery anode material processing capabilities in Canada and North America," said Northern chief executive officer Hugues Jacquemin.

In April, Northern and The BMI Group announced a partnership to evaluate the establishment of a BAM facility at the former paper mill site in Baie-Comeau being redeveloped by BMI as the Norderra multimodal industrial hub. Reactivating this brownfield site would provide a faster time to market compared to a greenfield alternative, supporting Quebec and Canada's critical minerals strategy while creating new jobs and economic growth in the region. The BMI Group was also the lead investor in Northern's $1.4-million non-brokered private placement completed in October, 2025.

Battery anode material, the single largest component of lithium-ion batteries, is produced by upgrading graphite mine concentrate to the exacting specifications of electric vehicle battery manufacturers. Northern's Baie-Comeau project directly addresses a key missing link in North America's energy transition supply chain, providing the domestic processing capacity needed to turn Canadian graphite into battery-grade anode material.

In connection with the closing of the private placement, the company paid finders' fees of $10,750 and $51,000 to Canaccord Genuity Corp. and 2401242 Ontario Inc., respectively, in relation to offered shares sold to investors introduced by such parties.

The offered shares issued in the private placement are subject to the statutory hold period of four months and one day from the date of issuance expiring on April 20, 2026, in accordance with applicable Canadian securities legislation.

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 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.

We seek Safe Harbor.