Mr. Gregory Bowes reports

NORTHERN GRAPHITE ANNOUNCES GRANT OF DEFERRED SHARE UNITS AND STOCK OPTIONS

Northern Graphite Corp. has granted 2.0 million deferred share units (DSUs) and 2.0 million stock options to a senior executive officer as part of its long-term incentive, reward and retention programs.

The stock options are each exercisable to acquire one common share of the company at a price of 25 cents per share for a period of five years and vest immediately. The DSUs are entirely performance based and vest on the attainment of specific corporate objectives, but in no case earlier than one year from the date of grant. Objectives include restructuring the company's debt, final investment decisions with respect to the restart of operations at the Okanjande mine and the construction of a battery anode material plant in Saudi Arabia, and achieving specific growth targets with respect to the company's market capitalization.

Upon vesting, each DSU shall entitle the holder to receive one common share of the company or the cash equivalent thereof at the discretion of the board of directors. All grants of the DSUs and stock options are subject to the company's deferred share unit and restricted share unit compensation plan, and its amended and restated stock option plan, as approved by shareholders.

"These equity incentives are designed to align our leadership with the long-term interests of shareholders," said Northern chairman Gregory Bowes. "As we advance our strategy, retaining and recruiting experienced talent and maintaining continuity of execution are critical to delivering on our objectives."

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 (EVs), 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, and is focused on advancing plans for developing battery anode material plants in Saudi Arabia, Quebec and France.

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, advanced-stage Bissett Creek graphite 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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