Breaking News

U.S. Sets Penalty Duties on Steel Pipe From South Korea, Eight Other Nations, to Counter Dumping
Tweet TWEET

Northern Graphite Announces Successful Drill Program at Bissett Creek

Northern Graphite Announces Successful Drill Program at Bissett Creek 
Higher grade zones extended outside of current resource model 
OTTAWA, ONTARIO -- (Marketwire) -- 03/07/13 -- Northern Graphite
Corporation (TSX VENTURE:NGC) is pleased to announce very positive
results from a 61 hole, 3,425 meter drilling program on the Bissett
Creek graphite project. The drill program was designed to infill a
significant portion of inferred resources with the objective of
upgrading them to the measured and indicated categories. In addition,
the potential for higher grade zones to extend outside of the current
resource model was tested. All 61 holes returned widths and grades as
good as or better than those in the recently completed bankable
Feasibility Study ("FS"). 
A new resource estimate based on the drill results is expected to be
completed by the end of March. The existing mine plan will then be
revised and FS economics updated and released within a couple weeks
thereafter. The current mine plan includes 1.5 million tonnes of
inferred resources that are treated as waste with zero grade and it
excludes a substantial amount of higher grade inferred resources. It
is anticipated that the revised mine plan will show an increase in
grade, a reduction in costs and a much longer mine life. The resource
update and revised FS will be completed by AGP Mining Consultants.  
Gregory Bowes, CEO, commented that: "the Bissett Creek project has
low engineering, technical and political risk, reasonable capital
costs and competitive operating costs. It is expected to produce the
highest quality concentrates in the industry." He added that "Once
the FS is updated, we anticipate finalizing discussions with
strategic partners and putting the mine financing package together." 
The current resource estimate consists of 25,903,000 tonnes of
indicated resources and 55,038,000 tonnes of inferred resources at a
1% cut-off grade (mineral resources are not mineral reserves and do
not have demonstrated economic viability). The FS estimated a
probable reserve of 23 million tonnes at a grade of 1.89% Cg based on
indicated resources only. Thirteen infill holes were drilled within
the FS pit and returned significant intersections with grades higher
than the average resource grade. Almost all the 
holes drilled outside
the FS pit also intersected higher grades (see table and map). Many
holes also contain lower, but still ore grade intersections, higher
up in the hole. This material will likely be stockpiled and processed
later in the mine life. 


 
----------------------------------------------------------------------------
Hole                         From (M)       To (M)    Width (M)          Cg%
----------------------------------------------------------------------------
MFT-12-001                         57           90           33         2.94
----------------------------------------------------------------------------
MFT-12-002                         42           89           47         2.29
----------------------------------------------------------------------------
MFT-12-003                         69           92           23         2.88
----------------------------------------------------------------------------
MFT-12-005                         45          103           58         2.75
----------------------------------------------------------------------------
MFT-12-006                         33           60           27         2.55
----------------------------------------------------------------------------
MFT-12-007                         27           42           15         2.52
----------------------------------------------------------------------------
MFT-12-008                         44           63           19         2.85
----------------------------------------------------------------------------
BC-12-111                          30           48           18         2.14
----------------------------------------------------------------------------
BC-12-201                        23.5           54         30.5         2.66
----------------------------------------------------------------------------
BC-12-202                          21           54           33         2.66
----------------------------------------------------------------------------
BC-12-203                          36           57           21         2.66
----------------------------------------------------------------------------
BC-12-204                          30           46           16         2.66
----------------------------------------------------------------------------
BC-12-205                          24           51           27         2.53
----------------------------------------------------------------------------
BC-12-206                          27           54           27         2.70
----------------------------------------------------------------------------
BC-12-207                          18           51           33         2.31
----------------------------------------------------------------------------
BC-12-208                          58           77           19         2.56
----------------------------------------------------------------------------
BC-12-209                          27           46           19         2.33
----------------------------------------------------------------------------
BC-12-210                          18           41           23         2.25
----------------------------------------------------------------------------
BC-12-211                          24           41           17         2.65
----------------------------------------------------------------------------
BC-12-212                          20           36           16         2.68
----------------------------------------------------------------------------
BC-12-213                          21           37           16         2.97
----------------------------------------------------------------------------
BC-12-214                          12           33           21         2.41
----------------------------------------------------------------------------
BC-12-217                          36           53           17         2.02
----------------------------------------------------------------------------
BC-12-18                           19           45           26         2.97
----------------------------------------------------------------------------
BC-12-219                           9           33           24         2.68
----------------------------------------------------------------------------
BC-12-220A                         18           39           21         2.41
----------------------------------------------------------------------------
BC-12-221                          15           42           27         2.65
----------------------------------------------------------------------------
BC-12-222                          27           45           18         2.57
----------------------------------------------------------------------------
BC-12-223                           9           42           33         2.45
----------------------------------------------------------------------------
BC-12-224                          12           42           30         2.32
----------------------------------------------------------------------------
AGP-12-01                          36           55           19         2.82
----------------------------------------------------------------------------
AGP-12-02                        
  27           54           27         2.66
----------------------------------------------------------------------------
AGP-12-03                          40           70           26         2.38
----------------------------------------------------------------------------

 
A complete list of drill holes is available on the Northern Graphite
website at www.northerngraphite.com. 
All samples from the drill program were collected and supervised by
Mehmet Taner, P.Geo., PhD and a QP, and delivered to SGS Mineral
Services (Toronto). SGS is an ISO/IEC 17025 accredited analytical
laboratory. The samples were ashed at 500 degrees C to remove organic
carbon. Carbonate carbon was estimated on one aliquot of the ashed
sample using dilute perchloric acid to release CO2 which was then
measured by a Coulometric analyzer. A second aliquot was used to
estimate total carbon content. The second aliquot was combusted at
950 degrees C and the carbon was converted to CO2 and measured by the
coulometer. Graphitic carbon was calculated as follows: percentage of
graphitic carbon ("Cg") = percentage of total carbon in ashed sample
minus percentage of carbon as carbonate in ashed sample. For QA/QC
purposes, the Company inserted a total of 40 standards (one every
35th  to 40th sample), intermittent with 19 blank samples. A field
duplicate sample was generally taken in every hole (1/4 of the core)
within well mineralized sections. A total of 29 duplicate samples
were taken. 
Don Baxter, P.Eng, President of the Company and a "Qualified Person"
under 43-101, is responsible for and has reviewed and approved the
technical content of this press release.  
The Graphite Market 
China currently produces 70% of the world's graphite and an export
tax and a licensing system have been instituted to restrict exports
and encourage value added processing in China. Recently, the Chinese
government banned any new plants, and imposed strict environmental
regulations on existing plants, in the historic graphite mining and
processing area of Qingdao. This follows calls for REE type
protection and quotas from Chinese producers, the formation of a
state owned amorphous graphite monopoly that is consolidating 210
amorphous graphite mines down to 20 and reducing production capacity
from 600,000 to 510,000 tonnes per year, and the implementation of
new rules and standards which will make graphite mines much more
difficult to build and operate. No new graphite mines were built
during the past economic cycle and the supply situation will become
more acute as economic growth recovers. Both the European Union and
the United States have declared graphite a supply critical mineral. 
Northern Graphite Corporation 
Northern Graphite is a Canadian company that has a 100% interest in
the Bissett Creek graphite deposit located in eastern Ontario and is
well positioned to benefit from the favourable supply/demand outlook
for graphite. Northern is the only graphite company to have completed
a bankable Feasibility Study and has a large flake, high purity,
scalable deposit that is located close to infrastructure and has
reasonable capital costs and very competitive operating costs.
Additional information is available under the Company's profile on
SEDAR at www.sedar.com and on the Company's website at
www.northerngraphite.com. 
This press release contains forward-looking statements, which can be
identified by the use of statements that include words such as
"could", "potential", "believe", "expect", "anticipate", "intend",
"plan", "likely", "will" or other similar words or phrases. These
statements are only current predictions and are subject to known and
unknown risks, uncertainties and other factors that may cause our or
our industry's actual results, levels of activity, performance or
achievements to be materially different from those anticipated by the
forward-looking statements. The Company does not intend, and does not
assume any obligation, to update forward-looking statements, whether
as a result of new information, future events or otherwise, unless
otherwise required by applicable securities laws. Readers should not
place undue reliance on forward-looking statements.  
To view the figure associated with this release, please visit the
following link: http://media3.marketwire.com/docs/NGCfig1.pdf.  
Neither 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. 
Contacts:
Northern Graphite Corporation
Gregory Bowes
CEO
(613) 241-9959 
Northern Graphite Corporation
Don Baxter P.Eng
President
(705) 789-9706
www.northerngraphite.com