Mason Graphite Concludes Agreements With its Partner Group NanoXplore Inc.

MONTREAL, QUEBEC--(Marketwired - May 20, 2015) - Mason Graphite Inc. ("Mason Graphite" or the "Company") (TSX VENTURE:LLG)(OTCQX:MGPHF) announces that it has entered into two agreements with Group NanoXplore Inc. ("NanoXplore"):

• A perpetual exclusive license agreement to use and commercialize the intellectual property for NanoXplore's Thinned Graphite and Graphite Thinning Process which enables easier purification and has excellent synergies with Mason Graphite's ongoing Detailed Study for large scale production of Value-Added Graphite (see press release from February 11, 2015). A patent application has been filed by NanoXplore for the related Intellectual Property (United States Provisional Patent Application 62/035.963).

• A Laboratory Services agreement that gives Mason Graphite access to NanoXplore's research and laboratory facility for product development and for the design of value-added products. This Lab-for-Hire agreement gives Mason Graphite greater flexibility to customize and design products on demand for specific clients.

Benoit Gascon, President and CEO of Mason Graphite, commented: "NanoXplore's Thinning Graphite Process has excellent potential to facilitate the graphite purification, which can lead to better products and better economics when producing value-added graphite products in applications such as lubricants, composites and alkaline batteries. As we progress through the scoping work of our value-added study, it is paramount that we have the capacity to design products that meet the exact specifications required by customers."

Mason Graphite would also like to take the opportunity to update investors regarding recent progresses made by NanoXplore:

• On February 12, 2015, NanoXplore announced a fully subscribed non-brokered private placement financing totaling $2,725,000 for a minority participation in NanoXplore. Mason Graphite's initial investment in NanoXplore in 2014 was for a 40% equity interest for $700,000. After the closing of this financing, Mason Graphite's participation stands at 31%;
• On February 19, 2015, NanoXplore announced that its graphene plant, with a capacity of three metric tonnes per year, is now fully operational;
• On April 16, 2015, NanoXplore announced production capacity of industrial quantities of Graphene Oxide (GO) at their facility; and
• The Board of Directors of NanoXplore is now comprised of the following Directors:
  • Benoît Gascon as Chairman;
  • Soroush Nazarpour, the founder and President and CEO;
  • Dr Cameron Harris, Head of Mining Industry Practice (North America), Accenture;
  • Denis Labrecque, President of Norcap Ltd; and
  • Jacques Poulin, Director of energy storage for public transportation at ABB.

For more information and to review the press releases issued by NanoXplore, please visit: www.nanoxplore.ca

Mason Graphite continues to advance its wholly-owned Lac Guéret Project and expects to announce the results of the ongoing Definitive Feasibility Study this coming summer. The study on value-added graphite runs in parallel and work is ongoing with the National Research Council, the engineering firm Hatch and COREM. Purification and equipment trials are taking place as well as products benchmarking and planning of in-battery testing to meet, and exceed, customers' requirements for the lithium-ion batteries. These tests need to be carried over several cycles.

About Mason Graphite

Mason Graphite is a Canadian mining company focused on the development of its 100% owned Lac Guéret graphite project located in northeastern Québec. A positive Preliminary Economic Assessment (PEA) was completed in April 2013, and a Feasibility Study, based on an expanded mineral resource completed in December 2014, is currently underway. The Company is led by a highly experienced team that possess over five decades of experience in graphite production, sales, and research and development. For more information, visit www.masongraphite.com.

Stay Connected:

Twitter: @MasonGraphite

Facebook: /MasonGraphite

Mason Graphite Inc.

On behalf of the Board

"Benoît Gascon", President & Chief Executive Officer

Cautionary Statements

This press release contains "forward-looking information" within the meaning of Canadian securities legislation. All information contained herein that is not clearly historical in nature may constitute forward-looking information. Generally, such forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information, including but not limited to: (i) volatile stock price; (ii) the general global markets and economic conditions; (iii) the possibility of write-downs and impairments; (iv) the risk associated with exploration, development and operations of mineral deposits; (v) the risk associated with establishing title to mineral properties and assets; (vi) the risks associated with entering into joint ventures; (vii) fluctuations in commodity prices; (viii) the risks associated with uninsurable risks arising during the course of exploration, development and production; (ix) competition faced by the resulting issuer in securing experienced personnel and financing; (x) access to adequate infrastructure to support mining, processing, development and exploration activities; (xi) the risks associated with changes in the mining regulatory regime governing the resulting issuer; (xii) the risks associated with the various environmental regulations the resulting issuer is subject to; (xiii) risks related to regulatory and permitting delays; (xiv) risks related to potential conflicts of interest; (xv) the reliance on key personnel; (xvi) liquidity risks; (xvii) the risk of potential dilution through the issue of common shares; (xviii) the Company does not anticipate declaring dividends in the near term; (xix) the risk of litigation; and (xx) risk management.

Forward-looking information is based on assumptions management believes to be reasonable at the time such statements are made, including but not limited to, continued exploration activities, no material adverse change in metal prices, exploration and development plans proceeding in accordance with plans and such plans achieving their stated expected outcomes, receipt of required regulatory approvals, and such other assumptions and factors as set out herein. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in the forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such forward-looking information. Such forward-looking information has been provided for the purpose of assisting investors in understanding the Company's business, operations and exploration plans and may not be appropriate for other purposes. Accordingly, readers should not place undue reliance on forward-looking information. Forward-looking information is made as of the date of this press release, and the Company does not undertake to update such forward-looking information except in accordance with applicable securities laws.

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

Mason Graphite Inc.
Simon Marcotte
Vice-President Corporate Development
+1 (514) 289-3580
info@masongraphite.com