MEGA Graphite Inc.

MEGA Graphite Inc.

June 29, 2011 10:30 ET

MEGA Graphite Appoints New Board Member

Richard Canny Joins MEGA's Board of Directors

OAKVILLE, ONTARIO--(Marketwire - June 29, 2011) - MEGA Graphite Inc. (MEGA), a global graphite company which owns and operates natural crystalline flake properties, today announced the appointment of Richard Canny to its Board of Directors.

"The expansion of MEGA Board of Directors ensures the company will continue to benefit from a diversity of experience and opinions. Richard brings to MEGA Graphite a wealth of global business development experience and knowledge of one of our key customer markets. He is one of the global leaders in the fast emerging field of electric vehicles, and has deep hands-on experience in the field with both a large automaker and one of the new electric vehicle producers" said Paul Ogilvie, Chief Executive Officer at MEGA Graphite Inc.

Richard, 50, was formerly CEO of the Norwegian Electric Vehicle (EV) producer THINK, a position he held until late 2010 and most recently was Vice Chairman of THINK North America. A spin-off from Ford Motor Company some years back, THINK was one of the early leaders in the EV space in Europe, with more than 3,000 electric vehicles on the road. Prior to joining THINK, Richard had a 25-year career with Ford Motor Company, with previous positions including Director, Corporate Strategy; President and CEO, Ford South America; President, Ford Argentina and Managing Director, Ford Malaysia. Richard is Australian and has an MBA from the Royal Melbourne Institute of Technology.

"I am delighted to join the team at MEGA Graphite. Along with lithium and rare earth materials, high purity graphite is increasingly being recognized as a potentially strategic high value upstream material. With new applications such as anodes for advanced batteries and other high tech applications, MEGA Graphite is well positioned to be the dominant producer of these materials outside China. The wave of personal electric transport is really just beginning, and companies like MEGA Graphite are well positioned to capitalize on the opportunity," said Canny.

This addition to our board increases the number of MEGA's directors to 6. In addition to Canny, the members of MEGA's board are William Thomson, Chairman and non-executive director; Paul Ogilvie, Chief Executive Officer and director; Paul Gorman, President and director; Scott Old, Vice President and director and Richard Marsh, non-executive director.

About MEGA Graphite

MEGA Graphite Inc. is in the implementation phase of its mining, processing and purification projects of natural flake graphite from their 100% owned North American based projects. The Company's primary target markets include high purity graphite applications in lithium-ion batteries, graphene-based flat panel displays, and expandable graphite used in fire retardants, high performance gaskets, conductive fillers, and electromagnetic pulse and radiation shielding. MEGA Graphite owns and operates a number of world-class graphite properties in North America and is in the process of supplying large flake graphite to customers around the world. Its vertically integrated open-pit multi-plant operation combined with its leading edge technology positions MEGA Graphite to become a leading cost-competitive supplier to global markets of high-grade graphite products.

MEGA Graphite employs proprietary technologies with on-site milling systems running in the highest-grade zones to achieve graphite grades that can be refined efficiently and economically. The benefits of using these systems include an environmentally friendly process where the land is not stripped into wasteland and the liberation costs remain very low. MEGA can size, shape and coat its graphite through licensed processes to purity levels that give companies the ability to build systems that will hold up to economic and environmental concerns.

With a mandate to own and develop the chemistry of various new technologies, MEGA also owns the Big Mack rare earth petalite property, located in the Kenora mining district, Ontario. The Separation Lake Greenstone Belt (SLGB) is host to the most important rare-element pegmatites in Ontario and may contain the greatest number of complex-type, petalite-subtype pegmatite occurrences in Canada. These pegmatites are host to many rare elements and metals such as lithium, tantalum, niobium, tin, rubidium and cesium.

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