Ottawa, Ontario–(Newsfile Corp. – January 10, 2023) – Northern Graphite Corporation (TSXV: NGC) (OTCQB: NGPHF) (FSE: 0NG) (XSTU: 0NG) (the “Company” or “Northern“) announces that it has entered into an agreement with Innovation et Development Manicouagan (“IDM”) at Baie-Comeau, Quebec to evaluate sites for the construction of a planned 200,000 tonnes per year (“tpy”) battery anode material (“BAM”) plant in the industrial port zone of Baie-Comeau. The plant would be one of the largest in the world and would convert graphite concentrate from the Company’s mines, as well as other producers, into anode material to supply existing and planned lithium-ion battery manufacturing plants throughout North America. Building a low-cost, large-scale conversion facility is a key component of Northern’s strategy to empower the electric vehicle industry by creating an end-to-end North American graphite supply chain from the mine to the battery.

Added Denison for uranium.