Graphite One Files NI 43-101 Technical Report With an Inferred Resource of 164.5MT at 4.61% Graphite

  Graphite One Files NI 43-101 Technical Report With an Inferred Resource of
                          164.5MT at 4.61% Graphite

PR Newswire

CALGARY, Alberta, Jan. 23, 2013

CALGARY, Alberta, Jan. 23, 2013 /PRNewswire/ --Graphite One Resources Inc.
(TSX-V: GPH, OTCQX: GPHOF) ("Graphite One" or the "Company") is pleased to
announce that it has filed a National Instrument (NI) 43-101 Technical Report
for its maiden inferred resource at the Graphite Creek Property in the mining
friendly state of Alaska, USA. The resource for the Graphite Creek Property
is based on the results from an 18 hole, 4,248 metre drilling program
conducted in 2012.

"Based on the size of the inferred and potential resource, we believe this to
be the largest reported flake graphite deposit in the world, and look to take
an aggressive approach to advancing the project towards production in the near
future," stated Anthony Huston, President of Graphite One. "We have designed a
comprehensive exploration program for 2013 that includes drilling,
environmental studies, permitting, metallurgy, engineering, reporting and
community relations initiatives, all of which are necessary steps for bringing
the deposit into production."

See link below for viewing of Graphite One Inferred Resource chart

http://graphiteoneresources.com/news/index.php?&content_id=145

a:Cg – Graphitic Carbon – b: 3% Cut-Off Grade being the base case in the NI
43-101 Technical Report

"We are excited by the results of this independent National Instrument 43-101
inferred resource estimate, which represents a major milestone for the Company
and provides a solid base for further developing Graphite Creek. We believe
that the Property's considerable percentage of high grade large flake
graphite, the envisioned low waste to ore strip ratio, readily accessible
infrastructure, and prime location in a mining friendly jurisdiction make
Graphite Creek a compelling development project," continued Mr. Huston. "From
a management perspective, the economics of this sizeable resource provide a
strong incentive to fast track this deposit into production, thereby
delivering significant value for our shareholders."

The Technical Report was prepared by SGS Canada Inc., and APEX Geoscience
Ltd., following the guidelines of the Canadian Securities Administrations
National Instrument 43-101 and Form 43-101F1. The report titled "TECHNICAL
REPORT, MAIDEN INFERRED RESOURCE ESTIMATE OF THE GRAPHITE CREEK PROPERTY,
ALASKA USA", is filed on SEDAR and can be viewed on the SEDAR website,
www.sedar.com, and Graphite One's website, www.graphiteoneresources.com.

The deposit remains open along strike to both the east and west, and down dip.
The drilling program and inferred resource confirm that near surface graphite
mineralization exists in an area that is now over 2.2 kilometres in length.
The deposit exists along the north dip slope of the Kigluaik Mountains and the
graphite bearing rocks along North 61 degrees dip at approximately 60 degrees
to the north with good continuity between drill holes.

The graphitic mineralization is outcropping on the hill side with a very low
waste to ore ratio envisaged, considering an open cut surface mining
operation.

The mineral resources were estimated using analytical data from 17 of 18
recent surface drill holes for which 3,913 samples were assayed for Graphitic
Carbon (Cg) using the LECO analytical method (composite to 2 m). Drill holes
were spaced up to 320 metres apart initially with some infill drilling at 50
metre spacing. Interpretation and modeling of five 3D wireframe envelopes
were completed to outline the mineralized graphitic horizons. A block model of
5 m (E-W) by 2 m (N-S) by 5 m (vertical) was interpolated using inverse square
of the distance using a maximum of 6 composites to estimate each block within
the mineralized envelope(s). The specific gravity (S.G.) was fixed to 2.7
kg/m3 and is based on core measurements. The base case cut-off grade of 3% Cg
is based on a conservative approach with 80% recovery for a 95% Graphite
concentrate and an average selling price of $1,200/tonne.

The independent QP (Mr. Duplessis, Eng.) took in situ samples and confirmed
extremely high grade near surface graphite-bearing rocks with analyses ranging
from 5.09% to 62.20% Cg. These control samples were analyzed at SGS Lakefield.

Graphite One has its own core logging and sample preparation laboratory/
facility in Nome, Alaska. The sample preparation laboratory was installed,
and is being managed by Activation Laboratories Inc., Ancaster, Ontario
("Actlabs"). This ensures Graphite One maintains the highest level of QA/QC
and ensures timely receipt of analytical results.

Additional Mineral Potential at Graphite Creek (Western Extension):

As demonstrated by the step out drill hole (12GCH008), which is 2.2 km west of
the inferred resource area (see press release dated October 2, 2012);
significant upside potential exists for the resource to increase as the
deposit remains open at depth and along strike.

See link below for viewing of Graphite One Potential Resource*

http://graphiteoneresources.com/news/index.php?&content_id=145

*The potential quantity and grade is conceptual in nature as there has been
insufficient exploration to define a mineral resource and it is uncertain if
further exploration will result in the target being delineated as a mineral
resource.

The approximate tonnages and grades have been determined by taking the results
from drill hole 12GCH008 (52m of 6.02% Cg) plus or minus 30 per cent grade and
considering the strike extent from the existing inferred resource considering
that airborne geophysics, surface mapping and sampling has shown continuity of
the mineralized rocks on surface, at depth and along strike.

About Graphite Creek

The Graphite Creek Property comprises 129 claims totaling 6,799 hectares on
the Seward Peninsula of Alaska, 65 kilometres north of Nome. Mineralization at
the Graphite Creek Property is characterized by coarse crystalline (large
flake) graphite (greater than 80 mesh) within graphite-bearing schist(s).
Graphite mineralization is exposed at surface. The large flake graphite occurs
as disseminations and high grade segregations and lenses in distinctive
sillimanite-garnet-quartz-biotite schist(s) and/or quartz-biotite schist(s).
The host schist(s) is continuous over 18 kilometres of strike length, based on
mapping, sampling and airborne geophysics.

Graphite One uses Actlabs, an ISO/IEC 17025 accredited analytical laboratory.
The technique used for determining graphitic carbon is by LECO, whereby the
pulp is either digested with hydrochloric and perchloric acids, or subjected
to a multistage furnace treatment to remove all forms of carbon with the
exception of graphitic carbon.

Graphite One Resources is committed to a regimented QA/QC program including
utilizing standards, blanks and duplicates as per normal industry standards.

About Graphite One Resources Inc.

GRAPHITE ONE RESOURCES INC. (TSX-V: GPH, OTCQX: GPHOF) is a mineral
exploration company with extensive experience in the state of Alaska and a
business strategy to identify, acquire, and explore high potential projects
ready for rapid advancement. The Graphite Creek Property on the Seward
Peninsula of Alaska fits with the Graphite One business strategy offering
significant potential for the discovery and development of a large flake,
graphite deposit exposed at surface. Graphite One has an option to earn a
100% interest in the Graphite Creek Property.

The information in this release related to the Technical Report has been
approved by Claude Duplessis, Eng., of SGS Canada Inc., and by D. Roy Eccles,
M. Sc., P.Geol., and Steven Nicholls, BA.Sc., MAIG, both of APEX Geoscience
Ltd. whom are independent Qualified Persons as defined under National
Instrument 43-101. Dean Besserer, P.Geol., Vice President of Exploration for
the Company and a "Qualified Person" under NI 43-101, is responsible for and
has reviewed and approved the technical content of this press release.

ON BEHALF OF THE BOARD OF DIRECTORS
(signed)
"Anthony Huston"

For more information on Graphite One Resources Inc. please visit the Company's
website, www.GraphiteOneResources.com or contact:

Anthony Huston
President & Director
Tel: (604) 697-2862
Email: AnthonyH@GraphiteOneResources.com

Graphite One Resources Inc. is a member of the Gilden Group of companies, for
more information on the group please visit the company's website:
www.gildengroup.com

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 release.

This release includes certain statements that may be deemed to be
forward-looking statements. All statements in this release, other than
statements of historical facts that address access to capital, regulatory
approvals, exploration drilling, exploitation activities and events or
developments that the Company expects are forward-looking statements. Although
the Company believes the expectations expressed in such forward-looking
statements are based on reasonable assumptions, such statements are not
guarantees of future performance and actual results or developments may differ
materially from those in the forward-looking statements. Factors that could
cause actual results to differ materially from those in forward-looking
statements include market prices, exploitation and exploration successes,
continuity of mineralization, uncertainties related to the ability to obtain
necessary permits, licenses and title and delays due to third party
opposition, changes in government policies regarding mining and natural
resource exploration and exploitation, and continued availability of capital
and financing, and general economic, market or business conditions. Investors
are cautioned that any such statements are not guarantees of future
performance and actual results or developments may differ materially from
those projected in the forward-looking statements. Readers are cautioned not
to place undue reliance on this forward-looking information, which is given as
of the date it is expressed in this press release, and the Company undertakes
no obligation to update publicly or revise any forward-looking information,
whether as a result of new information, future events or otherwise, except as
required by applicable securities laws. For more information on the Company,
investors should review the Company's continuous disclosure filings that are
available at www.sedar.com.

The mineral resource estimates reported in this press release were prepared in
accordance with Canadian National Instrument 43-101Standards of Disclosure for
Mineral Projects ("NI 43-101"), as required by Canadian securities regulatory
authorities. For United States reporting purposes, the United States
Securities and Exchange Commission ("SEC") applies different standards in the
classification of mineralization. In particular, while the terms "measured,"
"indicated" and "inferred" mineral resources are required pursuant to NI
43-101, the SEC does not recognize such terms. Canadian standards differ
significantly from the requirements of the SEC. Investors are cautioned not
to assume that any part or all of the mineral deposits in these categories
constitute or will ever be converted into reserves. In addition, "inferred"
mineral resources have a great amount of uncertainty as to their existence and
great uncertainty as to their economic and legal feasibility. It cannot be
assumed that all or any part of an inferred mineral resource will ever be
upgraded to a higher category. Under Canadian securities laws, issuers must
not make any disclosure of results of an economic analysis that includes
inferred mineral resources, except in rare cases.



SOURCE Graphite One Resources Inc.

Website: http://www.graphiteoneresources.com
 
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