Northern Graphite Provides Clarification on PEA Press Release

OTTAWA, ONTARIO--(Marketwired - Oct 23, 2013) - At the request of the Investment Industry Regulatory Organization of Canada ("IIROC"), Northern Graphite Corp. (TSX VENTURE:NGC)(OTCQX:NGPHF) is providing the following clarifications to its October 23, 2013 press release announcing the results of a Preliminary Economic Assessment ("PEA") on an expansion case for its 100% owned Bissett Creek graphite project.

The statement that the PEA "demonstrates that Bissett Creek has very attractive economics" should be replaced by the statement "indicates that Bissett Creek has very attractive economics".

In addition, the press release should have contained the statement that "mineral resources that are not mineral reserves do not have demonstrated economic viability".

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.