Northern Graphite Corporation announced a mineral resource estimate on its Mousseau property (previously known as Mousseau West) which adds significant resources to the Company's portfolio as it grows to supply the energy transition. Northern acquired the Mousseau West graphite project in October 2022 and in March 2023 increased its land package by an additional 101.64 ha through the acquisition of part of the neighbouring Mousseau East property, resulting in a total land package for Mousseau of 590.57 ha. The Mousseau project is located approximately 80 km from the Company's producing Lac des Iles ("LDI") graphite mine and has the potential to further extend LDI's life and expand its production by shipping material to LDI's processing facility.

Mousseau is Northern's fourth significant graphite project along with LDI, Bissett Creek in Ontario and Okanjande in Namibia. The estimate of mineral resources may be materially affected by environmental, permitting, legal, title, taxation, socio- political, marketing, or other relevant issues. The quantity and grade of reported Inferred Resources in this estimation are uncertain in nature and it is uncertain if further exploration work will result in upgrading them to an Indicated or Measured mineral resource category.

Mineral resources were estimated using the Canadian Institute of Mining, Metallurgy and Petroleum (CIM), CIM Standards on Mineral Resources and Reserves, Definitions and Guidelines. values in the table may differ due to rounding. Increasing graphite resources and reserves is a key catalyst for Northern as the Company executes on its strategy of becoming a long-term, sustainable, integrated mine-to-market-to-battery supplier to North America's widescale EV revolution, energy transition and March to Net Zero 2050.

The Company is also planning to start construction in 2026 on a 200,000-tpy Battery Anode Material plant in Baie-Comeau, Quebec. The resource estimate was prepared by independent consultants, Micon International Limited ("Micon"). The Company has filed a technical report in respect of the Mousseau project and the resource estimate prepared by Yvan Bussieres, P.Eng.

(OIQ) and Antoine Yassa, P.Geo. (OGQ) of Micon in accordance with National Instrument 43-101 - Standards of Disclosure for Mineral Projects. The Technical Report, titled "NI 43-101 Technical Report for the 2023 Mineral Resource Estimate for the Mousseau West Graphite Deposit, Mousseau Property, Brunet and Mousseau Townships, Mont-Laurier Area, Quebec, Canada" and dated September 30, 2023 (with an effective date of July 29, 2023), can be found on the Company's website or under the Company's issuer profile on SEDAR+.

Graphite is the largest component in lithium-ion batteries that make the transition to electric vehicles possible. It is also a critical component in fuel cells and it is an additive that makes many products lighter, stronger and more energy efficient.