Northern Graphite Corporation
TSX VENTURE : NGC
OTCQX : NGPHF

Northern Graphite Corporation

December 20, 2011 18:02 ET

Northern Graphite Announces Grant of Options

OTTAWA, ONTARIO--(Marketwire - Dec. 20, 2011) - Northern Graphite Corporation (TSX VENTURE:NGC)(OTCQX:NGPHF)("Northern" or the "Company") announces that it has granted options to purchase an aggregate of 225,000 common shares to two senior officers of the Company pursuant to the stock option plan approved by the Company's shareholders on August 17, 2011 (the "Plan"). The options are exercisable, subject to vesting, at $0.80 per share until December 20, 2016. The Company currently has 37,415,167 common shares issued and outstanding and can grant up to 3,741,517 options pursuant to the Plan. After giving effect to the above grants, 3,200,000 options will be outstanding under the Plan.

About Northern Graphite Corporation

Northern Graphite Corporation (TSX VENTURE:NGC) holds a 100% interest in the Bissett Creek graphite project which is located 17kms from the Trans Canada highway between Ottawa and North Bay, Ontario. The Company is in the process of completing a bankable Final Feasibility Study and permitting with the objective of initiating construction, subject to the results of the study and the availability of financing, in the first half of 2012. Additional information on Northern Graphite Corporation can be found under the Company's profile on SEDAR at www.sedar.com and on the Company's website at www.northerngraphite.com

This press release does not constitute an offer to sell or the solicitation of an offer to buy securities in any jurisdiction.

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.

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.

Contact Information

  • Gregory Bowes
    CEO
    (613) 241-9959

    Stephen Thompson
    CFO
    (613) 241-9959