Graphite One Appoints Doug Smith as Executive Chairman and Anthony Huston as CEO

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Jan 29, 2014) - Graphite One Resources Inc. (TSX VENTURE:GPH)(OTCQX:GPHOF) ("Graphite One" or the "Company") is pleased to announce the appointment of Anthony Huston as Chief Executive Officer ("CEO") effective immediately. The company also is very pleased to announce the appointment of Doug Smith as Executive Chairman of the Board of Directors.

"I am pleased to welcome Doug Smith to our team. Doug's vast experience and expertise in the mining industry and particularly in the development of large mining operations in the United States will prove to be very valuable as we move the Graphite Creek project forward. Doug has extensive surface mining experience and has been involved in exporting, marketing, transportation, legal affairs, environmental protection, public relations, and has successfully negotiated supply contracts and the sale of a major asset. He brings multi-facetted expertise to the team," stated Anthony Huston, President and CEO.

"Graphite Creek is an important resource and I look forward to working with the Graphite One team on the development of this world class project," stated Doug Smith, Executive Chairman for the Company.

About Doug Smith

Doug Smith has over 35 years of experience in the international coal industry as a senior executive and corporate director. He was General Manager of Xstrata Coal Canada from August 2011 to June 2013, a role assumed following Xstrata Coal's purchase of First Coal Corporation in August 2011. Doug had been President, CEO and Director of First Coal since May 2007 where he raised over $50 million in equity and directed its sale to Xstrata.

For the 12 years prior to joining First Coal, Doug was President and Director of Andalex Resources Inc., a U.S. private coal company with extensive surface mining operations in western Kentucky and underground operations in Utah. In 2006, he successfully directed the sale of Andalex. During this period, Doug also served as Chairman and Director of Los Angeles Export Terminal Inc., an export coal loading and handling facility at San Pedro, California.

In his prior work experience at Luscar Ltd., in Edmonton, Alberta, Doug moved through successive positions to Senior Vice President responsible for program management in all company areas including marketing, transportation, legal affairs, environmental protection, and public relations. He negotiated numerous coal supply contracts with domestic and international customers and served as Vice Chair and Director of Neptune Bulk Terminals, Canada Ltd.

Doug holds a B.Sc. in Electrical Engineering and a B.Sc. in Biology, both from the University of Alberta. He has completed the Program for Management Development at the Harvard Graduate School of Business Administration and has earned the ICD.D certification from the Institute of Corporate Directors. He has been a director of the Mining Associations of BC and Utah as well as the Coal Associations of Canada and Kentucky. He is a member of the Association of Professional Engineers and Geoscientists of Alberta and numerous professional organizations.

About Anthony Huston

Mr. Huston holds a Bachelor of Commerce Degree from the University of British Columbia. He is a successful entrepreneur with a background in business development and finance. Having served as Managing Partner in both public and private companies, Mr. Huston played an integral role in raising in excess of $100 million in his career. He has acted in roles to advise upon financial and acquisition transactions in many industry sectors, including real estate development, technology, bio-technology and most recently, the resource sector in which he holds the positions of President and Director for Graphite One.

Charles Chebry, Chief Executive Officer, Chairman of the Board and director of the Company has resigned effectively immediately. The Company would like to thank Mr. Chebry for his service and significant contribution to the Company.

About Graphite Creek

The Graphite Creek Property comprises 129 claims totaling 6,799 hectares on the Seward Peninsula of Alaska, 65 kilometres north (40 miles) of a deep sea port at Nome.

Mineralization at the Graphite Creek Property is characterized by coarse crystalline (large flake) graphite (greater than 80 mesh) within graphite-bearing schist(s). Please refer to the January 20, 2014 press release where Graphite One reports a NI 43-101 inferred resource of 284.71 million tonnes at 4.5% graphite (including 37.68 million tonnes at 9.2% graphite and 8.63 million tonnes at 12.8% graphite).

About Graphite One Resources Inc.

Graphite One Resources Inc. (TSX VENTURE:GPH)(OTCQX:GPHOF) is exploring with the intent to develop the Graphite Creek Project, USA's only advanced staged large-scale, large flake graphite deposit.

http://graphiteoneresources.com/investors/presentations/

ON BEHALF OF THE BOARD OF DIRECTORS

Anthony Huston

For more information on Graphite One Resources Inc. please visit the Company's website, www.GraphiteOneResources.com.

Neither the 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.

This release includes certain statements that may be deemed to be forward-looking statements. All statements in this release, other than statements of historical facts that address access to capital, regulatory approvals, exploration drilling, exploitation activities and events or developments that the Company expects, are forward-looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, continuity of mineralization, uncertainties related to the ability to obtain necessary permits, licenses and title and delays due to third party opposition, changes in government policies regarding mining and natural resource exploration and exploitation, and continued availability of capital and financing, and general economic, market or business conditions. Readers are cautioned not to place undue reliance on this forward-looking information, which is given as of the date it is expressed in this press release, and the Company undertakes no obligation to update publicly or revise any forward-looking information, except as required by applicable securities laws. For more information on the Company, investors should review the Company's continuous disclosure filings that are available at www.sedar.com.

The mineral resource estimates reported in this press release were prepared in accordance with Canadian National Instrument 43-101 Standards of Disclosure for Mineral Projects ("NI 43-101"), as required by Canadian securities regulatory authorities. For United States reporting purposes, the United States Securities and Exchange Commission ("SEC") applies different standards in the classification of mineralization. In particular, while the terms "measured," "indicated" and "inferred" mineral resources are required pursuant to NI 43-101, the SEC does not recognize such terms. Canadian standards differ significantly from the requirements of the SEC. Investors are cautioned not to assume that any part or all of the mineral deposits in these categories constitute or will ever be converted into reserves. In addition, "inferred" mineral resources have a great amount of uncertainty as to their existence and great uncertainty as to their economic and legal feasibility. It cannot be assumed that all or any part of an inferred mineral resource will ever be upgraded to a higher category. Under Canadian securities laws, issuers must not make any disclosure of results of an economic analysis that includes inferred mineral resources, except in rare cases.