Northern Graphite Added to Tsx Venture Select Index
OTTAWA, ONTARIO -- (Marketwire) -- 04/20/12 -- Northern Graphite Corporation (TSX VENTURE: NGC) (OTCQX: NGPHF) is pleased to announce that effective April 23, 2012 the Company will be added to the Standard & Poor's S&P/TSX Venture Select Index. The S&P/TSX Venture Select Index, launched in August of 2011, "measures the performance of constituents in the S&P/TSX Venture composite index that meet specific market capitalization and liquidity criteria."
About Northern Graphite CorpOoration
Northern Graphite Corporation is a Canadian company that has a 100% interest in the Bissett Creek graphite project, located 17kms from the Trans Canada highway between Ottawa and North Bay, Ontario and close to infrastructure. The Company has successfully completed a full suite of metallurgical testing, including lab and bench scale testing, a bulk sample/pilot plant test and variability testing, and believes that Bissett Creek will produce concentrates with the best flake size distribution and the highest carbon content in the industry. A bankable final Feasibility Study ("FS") and Mine Closure Plan ("MCP") are expected to be completed and filed in May, 2012 which makes Bissett Creek one of the most advanced new graphite projects in the world. On acceptance of the MCP the Company will be in a position to initiate construction, subject to positive results from the FS and the availability of financing.
Graphite prices have increased substantially due to the ongoing modernization of China and other emerging economies which has resulted in strong demand from traditional steel and automotive markets. In addition, new applications such as lithium ion batteries, fuel cells and nuclear power have the potential to create significant incremental demand growth. It takes 20 to 30 times as much graphite as lithium to make a Li ion battery and their use in the growing EV/HEV market is expected to require significant increases in graphite production. However, graphite production and exports from China, which produces 70% of the world's supply, are expected to decline and an export tax and a licensing system have been instituted. Both the European Union and the United States have declared graphite a supply critical mineral.
Northern Graphite is well positioned to benefit from this compelling supply/demand dynamic with a near term development project located in Canada. 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.northern graphite.com.
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.
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.
Contacts:
Gregory Bowes, CEO
(613) 241-9959
Don Baxter P.Eng
President
(705) 789-9706