Mr. Hugues Jacquemin reports

NORTHERN GRAPHITE COMPLETES PROCESSING PLANT RELOCATION TO ADVANCE OKANJANDE MINE RESTART

Northern Graphite Corp. has completed the relocation of its processing plant equipment in Namibia to the Okanjande mine site in a first execution step toward the planned restart of production in late 2027, subject to financing.

The relocation involved dismantling the processing equipment at the former Okorusu site and transporting it approximately 85 kilometres to Okanjande for reassembly in a subsequent phase in coming months. The move was completed on schedule, safely and without incident, marking a key step toward a restarting of mining and processing operations while advancing Northern's development of an integrated mine-to-battery graphite business.

"The completion of the relocation is a major milestone for Northern and demonstrates our ability to execute as we advance the restart of production at Okanjande," said Northern chief executive officer Hugues Jacquemin. "With plant equipment now in place at the mine site, we are advancing preparations for production and strengthening the foundation for supplying our planned joint venture BAM facility in Yanbu, Kingdom of Saudi Arabia, which is targeted for initial production in 2028 as part of Northern's broader mine-to-battery strategy."

In August, 2023, Northern announced the results of a preliminary economic assessment (PEA) evaluating the relocation of its Namibian processing plant from Okorusu to the Okanjande mine site rather than rehabilitating the mill at its existing location. The PEA, issued July 31, 2023, and prepared by CREO Engineering Solutions, confirmed the technical and economic viability of the approach.

Relocating the plant to Okanjande eliminates the need to transport material over long distances, reducing fuel consumption, operating costs and associated greenhouse gas emissions. The initiative also supports improved project sustainability, with further benefits expected from the potential use of solar power and the incorporation of dry tailings to reduce water consumption and overall environmental impact.

Graphite produced from Okanjande is expected to supply both traditional industrial markets, including refractory applications for steelmaking, heat management in electronics and friction products for the automotive sector, as well as the growing national security and battery materials markets.

"Okanjande hosts a large graphite resource in one of Africa's most politically stable jurisdictions, with access to a deep-water port that provides substantial competitive advantages over many competing projects," said Mr. Jacquemin. "Completing the plant relocation further de-risks the restart strategy and positions Northern to move quickly to support secure graphite supply chains independent of China."

About Northern Graphite Corp.

Northern is the only flake graphite producing company in North America.

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