Northern Graphite Completes Processing Plant Relocation to Advance Okanjande Mine Restart

14:00 Uhr  |  Newsfile

Ottawa, June 30, 2026 - Northern Graphite Corp. (TSXV: NGC) (OTCQB: NGPHF) (FSE: 0NG) (XSTU: 0NG) (the "Company" or "Northern") is pleased to announce that it has completed the relocation of its processing plant equipment in Namibia to the Okanjande mine site in a first execution step toward the planned restart of production in late 2027, subject to financing.

The relocation involved dismantling the processing equipment at the former Okorusu site and transporting it approximately 85 km to Okanjande for reassembly in a subsequent phase in coming months. The move was completed on schedule, safely and without incident, marking a key step toward a restarting of mining and processing operations while advancing Northern's development of an integrated mine-to-battery graphite business.

"The completion of the relocation is a major milestone for Northern and demonstrates our ability to execute as we advance the restart of production at Okanjande," said Northern Chief Executive Officer Hugues Jacquemin. "With plant equipment now in place at the mine site, we are advancing preparations for production and strengthening the foundation for supplying our planned joint venture BAM facility in Yanbu, Kingdom of Saudi Arabia, which is targeted for initial production in 2028 as part of Northern's broader mine-to-battery strategy."

In August 2023, Northern announced the results of a preliminary economic assessment ("PEA") evaluating the relocation of its Namibian processing plant from Okorusu to the Okanjande mine site rather than rehabilitating the mill at its existing location. The PEA, issued July 31, 2023 and prepared by CREO Engineering Solutions, confirmed the technical and economic viability of the approach.

Relocating the plant to Okanjande eliminates the need to transport material over long distances, reducing fuel consumption, operating costs and associated greenhouse gas emissions. The initiative also supports improved project sustainability, with further benefits expected from the potential use of solar power and the incorporation of dry tailings to reduce water consumption and overall environmental impact.

Graphite produced from Okanjande is expected to supply both traditional industrial markets, including refractory applications for steelmaking, heat management in electronics and friction products for the automotive sector, as well as the growing national security and battery materials markets.

"Okanjande hosts a large graphite resource in one of Africa's most politically stable jurisdictions, with access to a deep-water port that provides substantial competitive advantages over many competing projects," said Mr. Jacquemin. "Completing the plant relocation further de-risks the restart strategy and positions Northern to move quickly to support secure graphite supply chains independent of China."

About Northern Graphite

Northern is a Canadian, TSX Venture Exchange listed company that is the only flake graphite producing company in North America. Northern is focused on becoming a world leader in producing natural graphite and upgrading it into high-value products critical to the green economy, including anode material for lithium-ion batteries/EVs, fuel cells and graphene, as well as advanced industrial technologies. The Company's mine-to-battery strategy is spearheaded by its Battery Materials Group, which has a fully equipped, state-of-the-art laboratory in Frankfurt and is focused on advancing plans for developing battery anode material plants in Saudi Arabia, Quebec and France.

Northern's graphite assets include the producing Lac des Iles mine in Quebec, where the Company is boosting output to meet growing demand from industrial customers and coming demand from North American battery makers. The Company also owns the large-scale, advanced stage Bissett Creek graphite project in Ontario and the fully permitted Okanjande graphite mine in Namibia, which is currently on care and maintenance, and represents an opportunity to substantially increase graphite production at a lower cost and with a shorter time to market than most competing projects. All projects have "battery quality" graphite and are located close to infrastructure in politically stable jurisdictions.

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Cautionary Note Regarding Forward-Looking Statements

This news release contains certain "forward-looking statements" within the meaning of applicable Canadian securities laws. Forward-looking statements and information are frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate", "potential", "possible" and other similar words, or statements that certain events or conditions "may", "will", "could", or "should" occur. Forward-looking statements in this news release include statements regarding, among others, the Company's plans to restart the Okanjande mine in Namibia and develop downstream processing capacity in North America, Europe and the Middle East. All such forward-looking statements are based on assumptions and analyses made by management based on their experience and perception of historical trends, current conditions and expected future developments, as well as other factors they believe are appropriate in the circumstances. However, these statements are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected including, but not limited to, unexpected changes in laws, rules or regulations, or their enforcement by applicable authorities; the failure of other parties to perform as agreed; social or labour unrest; changes in commodity prices; unexpected failure or inadequacy of infrastructure and the failure of ongoing and contemplated studies to deliver anticipated results or results that would justify and support continued studies, development or operations and the inability to raise required financing. Readers are cautioned not to place undue reliance on forward-looking information or statements.

Although the forward-looking statements contained in this news release are based on what management believes are reasonable assumptions, the Company cannot assure investors that actual results will be consistent with them. These forward-looking statements are made as of the date of this news release and are expressly qualified in their entirety by this cautionary statement. Subject to applicable securities laws, the Company does not assume any obligation to update or revise the forward-looking statements contained herein to reflect events or circumstances occurring after the date of this news release.

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 news release.

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