Northern Graphite Commences Overburden Stripping Activities to Extend Lac des Iles Mine Life

Executive Summary

• Northern Graphite has begun a two‑month, 24‑hour stripping program at the Lac des Iles mine to extend its life by up to eight years.
• The Regional Economic Growth Through Innovation Program is providing an interest‑free, repayable contribution of up to C$6.225 million, covering 75 % of eligible expansion costs.
• First production from the pit extension is expected within four to six months, ensuring continued supply to existing customers while expanding capacity.

Key Details

• Stripping activities involve excavation, haulage and overburden storage using conventional open‑pit methods; work runs continuously for an estimated two‑month period.
• Funding: up to C$6.225 million interest‑free, repayable contribution from Natural Resources Canada (NRCan) administered by the Economic Development Agency of Canada for Quebec Regions (CED), representing 75 % of eligible costs.
• Expected outcome: extension of mine life by approximately eight years and first production from the extension in 4–6 months.
• Current LDI operation produces ~15,000 t/yr of graphite concentrate with a capacity of 25,000 t/yr.
• The expansion is positioned to meet rising demand for high‑purity flake graphite driven by battery and EV markets, especially amid new Chinese export controls on lithium‑battery raw materials effective 8 Nov 2025.
• CEO Hugues Jacquemin highlighted the alignment of industry and government in building a resilient North American critical minerals supply chain.
• Chairman Gregory Bowes, B.Sc. MBA P.Geo, acted as Qualified Person under NI 43‑101 and approved the release.

Notable Quotes

“The start of stripping at Lac des Iles represents tangible progress in our long‑term plan to expand and modernize the operation… It also demonstrates the alignment between industry and government in building a resilient North American critical minerals supply chain.” – Hugues Jacquemin, CEO

“Work on our pit extension comes as global geopolitics further underscore the importance of bringing new graphite supply online that is independent of Chinese control.” – Hugues Jacquemin, CEO