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Northern Graphite Corporation (TSXV: NGC,OTC:NGPHF) (OTCQB: NGPHF) (FSE: 0NG) (XSTU: 0NG) (the "Company" or "Northern") is pleased to announce that it has commenced stripping activities to extend the life of its Lac des Iles mine, North America's only graphite producer.
The stripping activity is part of the first phase expansion of the existing pit and includes excavation, haulage and storage of overburden using conventional open-pit mining methods. Work will be conducted on a continuous 24-hour basis over an estimated two-month period. The Regional Economic Growth Through Innovation Program, provided by Natural Resources Canada ("NRCan") and delivered by The Economic Development Agency of Canada for Quebec Regions ("CED"), is financing 75% of the eligible costs through an interest free, repayable contribution of up to $6.225 million for the pit extension which could potentially add eight years to the mine life.
The goal is to ensure a continuous flow of material to the plant and first production from the extension could take place in approximately four- to six months. In the interim, Northern will continue supplying customers by processing ore from the existing pit and ore stockpiles and fulfilling orders from inventory thereafter.
"The start of stripping at Lac des Iles represents tangible progress in our long-term plan to expand and modernize the operation and follows our recent announcement of government support for the pit extension," said Northern Chief Executive Officer Hugues Jacquemin. "That funding is helping us move quickly from planning to execution as we work to extend the life of this strategic Canadian asset and to create a secure, sustainable supply of graphite to meet the rapidly growing demand from regional and global battery markets. It also demonstrates the alignment between industry and government in building a resilient North American critical minerals supply chain."
LDI, located about 150 km northwest of Montreal, Quebec, is Northern's flagship operation, producing approximately 15,000 tonnes of graphite concentrate per year with installed capacity of 25,000 tonnes per year. The mine has long served traditional markets - from refractories for steelmaking to heat management in electronics and friction materials for the global automotive sector. As widescale electrification proceeds under the energy transition, the availability of graphite is forecast to tighten sharply as demand rises, especially to manufacture lithium-ion batteries, where it is the largest critical mineral component.
Market Context
Northern acquired LDI from Imerys in 2022 with the conviction that the mine had far greater potential than its then-published reserve life suggested which has been confirmed by recent drilling programs. Since then, demand for the mine's high-purity, flake graphite has only increased, as global supply has been squeezed by Chinese export controls and lower production. Last week China's Ministry of Commerce and the General Administration of Customs announced new export controls on lithium battery raw materials, manufacturing equipment and technology, effective November 8, 2025, highlighting the growing strategic value of graphite to both the energy transition and national security.
"Work on our pit extension comes as global geopolitics further underscore the importance of bringing new graphite supply online that is independent of Chinese control," said Mr. Jacquemin. "As demand for graphite continues to accelerate with the global shift to electric vehicles and renewable energy storage, Northern's integrated mine-to-market strategy positions Canada to play a pivotal role in building a resilient, local supply chain for one of the most critical materials in the energy transition."
Gregory Bowes, B.Sc. MBA P.Geo, the Chairman of Northern, is a "Qualified Person" as defined under NI 43-101 and has reviewed and approved the content of this news release.
About Northern Graphite
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, 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, 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.
For media inquiries, contact
Pav Jordan, VP of Communications
Email: pjordan@northerngraphite.com
For additional information
Please visit the Company's website at https://www.northerngraphite.com/home/, the Company's profile on www.sedarplus.ca, our Social Channels listed below, or contact the Company at (613) 271-2124.
Cautionary Note Regarding Forward-Looking Statements
This news release contains certain "forward-looking statements" within the meaning of applicable Canadian securities laws. Forward-looking statements and information are frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate", "potential", "possible" and other similar words, or statements that certain events or conditions "may", "will", "could", or "should" occur. Forward-looking statements in this news release include statements regarding, among others, the Company's plans to extend the mine life of its LDI mine and development plans for its other projects including Bissett Creek. All such forward-looking statements are based on assumptions and analyses made by management based on their experience and perception of historical trends, current conditions and expected future developments, as well as other factors they believe are appropriate in the circumstances. However, these statements are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected including, but not limited to, unexpected changes in laws, rules or regulations, or their enforcement by applicable authorities; the failure of other parties to perform as agreed; social or labour unrest; changes in commodity prices; unexpected failure or inadequacy of infrastructure and the failure of ongoing and contemplated studies to deliver anticipated results or results that would justify and support continued studies, development or operations and the inability to raise required financing. Readers are cautioned not to place undue reliance on forward-looking information or statements.
Although the forward-looking statements contained in this news release are based on what management believes are reasonable assumptions, the Company cannot assure investors that actual results will be consistent with them. These forward-looking statements are made as of the date of this news release and are expressly qualified in their entirety by this cautionary statement. Subject to applicable securities laws, the Company does not assume any obligation to update or revise the forward-looking statements contained herein to reflect events or circumstances occurring after the date of this news release.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/270405
