Northern Graphite Corporation announced initial drill results from its Lac des Iles (?LDI?) mine that point to the potential to extend the life of North America's only significant graphite producer. Northern embarked on the new drilling program within the existing mine lease at Lac des Iles in May after a detailed review of historical studies and mine plans, and an airborne geophysical program identified a number of target zones on the LDI property. To date, 43 holes for 4,081 metres have been drilled.

LDI has long been supplying traditional graphite markets - from refractory bricks for steelmaking to heat management in mobile phones and friction and lubrication products for brakes and brake linings for the global automobile industry. Graphite makes up nearly half of the critical mineral content of a Lithium-Ion battery and Northern is positioning itself to be an integrated mine-to-battery company, including plans to build North America's largest Battery Anode Material plant in Baie-Comeau, Quebec. The Lac des Iles mine produces some 15,000 tonnes per year of graphite in concentrate and has the capacity to produce 25,000 tonnes per annum.

Highlights of the program include: Section B (west wall between pit 2 and pit 6): Hole F4-23-02 returned 8.19% graphitic carbon (?Cg?) over 7.3m, Hole F4-23-04 returned 7.47% Cg over 2.6m, 5.56% Cg over 1.2m, and 5.14% Cg over 6.7m, and Hole F4-23-08 returned 8.29% Cg over 5.8m. Zone 4 (west wall of pit 2): Hole F4-23-28 returned 9.85% Cg over 16.95m, Hole F4-23-29 returned 7.45% Cg over 23.6m, and Hole F4-23-42 returned 9.43% Cg over 14.2m. Early interpretation of the results shows the geology of Section B is similar to the Lac des Iles pit 2 reserve, while in Zone 4 the initial drilling indicates a larger mineralized zone to the West and below the current pit than the historically mined swarm of narrow mineralized zones within the pit.

Airborne Survey: A comprehensive geophysical survey was executed in 2023 by Prospectair Geoservices of Québec, Canada, using high-resolution heliborne magnetic (MAG) and time-domain electromagnetic (TDEM) survey techniques. The survey covered a total of 92-line kilometres on the LDI property, utilizing advanced technology to identify shallow and deep geophysical targets and structures. The survey has identified significant potential for graphite mineralization.

The four most promising exploration targets are 5, 10, 15 and F2N and additional targets for future work include 7, 9 and between pits 6 and 12. The interpretation of the survey data highlights the influence of north-south structural trends on graphite- bearing mineralization within the property. The areas with potentially high concentrations of graphite mineralization coincide with the geological contact between the metasedimentary rocks and quartzofeldspathic gneisses.

This trend is consistent with the geology of current operations. These areas also exhibit high conductivity or EM responses (High Tau Values). The survey findings demonstrate the potential to host graphite mineralization to the West of the current and historic mine workings.

The identified areas of interest, characterized by high magnetic gradients and EM conductivity, have been prioritized for further investigation and represent compelling opportunities for future graphite exploration outside of the current 2023 exploration program.