NGC Northern Graphite Corp

Northern Graphite Corporation (TSX VENTURE:NGC)(OTCQX:NGPHF)("Northern" or the
"Company") announces that to date, 6,211,415 of its outstanding warrants have
been exercised early resulting in proceeds to the Company of $2,020,425. As a
result, Northern now has 37,148,340 common shares, 5,504,156 warrants and
2,950,000 options outstanding. Most of the remaining warrants are exercisable at
$0.35 until October 7, 2012 and if exercised, the Company will receive an
additional $1,818,599 in cash. 


Gregory Bowes, CEO, commented that: "a number of warrant holders agreed to
exercise early to ensure that the Company had sufficient financing to complete
its bankable Feasibility Study ("FS") and permitting without incurring the
additional dilution of a financing. The support of these shareholders is greatly
appreciated."


The FS is now scheduled for completion in January, 2012 as the Company's pilot
plant test at SGS Lakefield's facility was delayed by the preceding one which
ran two months late. The Company expects to submit its Mine Closure Plan to the
Ministry of Northern Development and Mines shortly. This is the main document
governing the operation and permitting of the Bissett Creek Project and the
Company anticipates that it will be accepted in the first quarter of 2012. 


Northern also announces that its major shareholder, Mindesta Inc. ("Mindesta"),
intends distribute most of the Northern shares that it owns to Mindesta
shareholders by way of a special dividend. Mindesta owns 9,750,000 common shares
of Northern of which 7,312,500 remain subject to an escrow agreement imposed by
Canadian securities laws and the TSX Venture Exchange ("TSXV") as part of
Northern's initial public offering. The escrowed shares are being released in
equal tranches of 1,462,500 shares every six months from the date that Northern
became listed on the TSXV, being April 20, 2011. The terms of the escrow provide
for the early release of the shares to permit their distribution to Mindesta's
shareholders, subject to TSXV approval. Mindesta has applied to the TSXV for the
early release of the shares from escrow to facilitate this distribution but has
not yet received approval. 


Mindesta will set a record date for shareholders entitled to receive the
distribution immediately after TSXV approval is received. Subject to the
satisfactory review of all legal and tax issues, it is contemplated that
Mindesta shareholders will receive one share of Northern for every share of
Mindesta held. Mindesta currently has 8,960,081 shares outstanding as well as
562,500 options to purchase common shares. 


It is anticipated that the release of these shares will increase trading and
liquidity in Northern's shares.


About Northern Graphite Corporation 

Northern Graphite Corporation (TSX VENTURE:NGC) holds a 100% interest in the
Bissett Creek graphite project which is located 17kms from the Trans Canada
highway between Ottawa and North Bay, Ontario. The Company is in the process of
completing a bankable final Feasibility Study and permitting with the objective
of initiating construction, subject to the results of the study and the
availability of financing, in the first half of 2012. Additional information on
Northern Graphite Corporation can be found under the Company's profile on SEDAR
at www.sedar.com and on the Company's website at www.northerngraphite.com


This press release does not constitute an offer to sell or the solicitation of
an offer to buy securities in any jurisdiction. 


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.

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