NORTHERN GRAPHITE ORD - NGPHF STOCK NEWS

Northern Graphite Corporation sells additional 0.5% gross revenue royalty on Bissett Creek Project to Electric Royalties Ltd. for CAD $950,000. ELEC now holds a total 1.5% GRR. Northern will make a separate fixed royalty payment of CAD $200,000 to ELEC. The sale is part of Northern's financing initiatives during challenging market conditions. Northern aims to become a fully integrated, mine-to-battery producer of natural graphite. Bissett Creek project has high-quality graphite suitable for lucrative markets and battery-grade production. The project is well-located with access to labor, supplies, and natural gas. First-phase production projected at 44,000 tpy of graphite concentrate. Northern plans to expand production in a second phase and supply its Battery Anode Material plant in Quebec.

Northern Graphite Corporation will be joining the Team Canada Critical Mineral Investment Mission to Europe, showcasing their projects to investors. The mission aims to strengthen collaboration on critical minerals and achieve high ESG standards.

Northern Graphite Corporation provides operating and financial summary for Q2 2023. Weak graphite sales and increased competition affected financial performance. Sales rose each month in Q2 as global market conditions improved. Company advanced mine-to-market strategy with plans for a 200,000 tonne per year BAM plant. Pursuing opportunities in non-EV applications. Lac des Iles mine shows promise for extended graphite supply. PEA indicates attractive economics for Okanjande mine. Signed LOI for BAM plant in Baie-Comeau. Extended option to acquire ownership interest in NeoGraf. Weak graphite demand in H1 2023.

Northern Graphite Corporation extends option to acquire stake in NeoGraf Solutions, LLC

Northern Graphite Corporation announces results of new preliminary economic assessment (PEA) for moving processing plant to Okanjande mine, indicating reduced GHG emissions, improved sustainability, and enhanced expansion potential. Higher capital costs but lower operating costs. PEA confirms viability of new plan and allows for a more sustainable operation with the use of solar power and lower water consumption. Company also exploring ways to further reduce carbon footprint. Okanjande mine key catalyst in Northern's strategy to become an integrated and sustainable mine-to-battery company. Okanjande deposit has significant graphite resources. New plan allows for quick response to growing battery anode material market. Compelling case for Okanjande development due to large resource and competitive advantages. PEA shows positive NPV and IRR. Technical report filed and prepared by qualified persons.

Northern Graphite Corporation announces the filing of an amended technical report and the clarification of future production targets. The amended report does not impact the material components of the preliminary economic assessment (PEA). The company has retracted statements regarding production rates that are not supported by technical reports. Northern plans to undertake PEAs to evaluate the potential for mining at the Mousseau deposit and expanding capacity at Okanjande and Bissett Creek.

Northern Graphite Corporation announces initial drill results from its Lac des Iles mine, indicating the potential to extend the life of the mine. The drilling program has identified significant graphite mineralization in target zones, and further assay results are expected in the fourth quarter. The company aims to be a cornerstone provider of graphite and graphite products to the cleantech and battery markets.