Mr. Anthony Huston reports

GRAPHITE ONE RESOURCES INC. EXTENDS OPTION TO PURCHASE NET SMELTER ROYALTY

Graphite One Resources Inc. has extended the deadline to buy out the 2-per-cent net-smelter-return royalty applicable to certain of its mining claims in the state of Alaska by up to 24 months to Jan. 24, 2017.

By agreement dated Jan. 24, 2012, the company's wholly owned subsidiary, Cedar Mountain Exploration (Alaska) Inc., purchased from a certain individual vendor 28 mining claims in the state of Alaska. These claims are subject to a 2-per-cent net-smelter-return royalty when the mine reaches production. Pursuant to the original agreement, Cedar Mountain had the right to purchase the royalty within three years from the effective date of the original agreement (on or before Jan. 24, 2015), for $1-million. Cedar Mountain and the company have entered into an extension agreement effective Jan. 24, 2015, whereby the royalty purchase option may be exercised at any time on or before the earlier of (i) Jan. 24, 2017, or (ii) the date that is six months after the release by the company or Cedar Mountain of a feasibility study on the Graphite Creek property. In connection with the extension agreement, the company has agreed to issue to the seller 769,231 common shares of the company at an issue price of 13 cents per share. The issuance of the common shares is subject to TSX Venture Exchange Inc. approval, and all securities issued will be subject to a four-month hold period.

We seek Safe Harbor.