Northern Graphite Provides Update on Lac des Iles Mine Development Plans

Core Viewpoint - Northern Graphite Corporation has placed its Lac des Iles mine and mill into temporary care and maintenance to address an unexpected equipment issue and to expedite maintenance and development work ahead of the 2026 pit expansion [1][2]. Company Update - The decision for care and maintenance was driven by a bearing failure at the mill, which has a replacement window of approximately four to six weeks [2]. - The company has ordered a replacement part and is advancing other maintenance projects that were originally scheduled for January [2][3]. - The Lac des Iles mine produces approximately 15,000 tonnes of graphite concentrate per year, with an installed capacity of 25,000 tonnes per year [4]. Expansion Plans - Pre-stripping activity is currently underway as part of Phase 1 of an expansion program that could potentially add eight years to the mine life [4]. - The expansion program is being partially financed by Natural Resources Canada, covering 75% of eligible costs up to $6.2 million [4]. - The company is in the final stages of applying for a Certificate of Authorization from Quebec's environmental ministry to mine to 203 meters above sea level, with production from the expanded pit anticipated to start in the second quarter of next year [5]. Regulatory and Operational Status - The company is currently authorized to mine to 209 meters, but has temporarily halted operations after inadvertently mining slightly below this depth [6]. - A minor amendment to the existing Certificate of Authorization will be requested to allow mining to continue at the current pit to 203 meters [6]. - This situation may result in a production gap of approximately two to three months between existing operations and production from the expanded pit [6]. Strategic Importance - The company aims to extend the life of the Lac des Iles mine, which is considered a strategic asset for creating a secure and sustainable North American supply chain for graphite, critical for the growing battery markets [7][8]. - Northern Graphite is focused on becoming a world leader in producing natural graphite and upgrading it into high-value products for the green economy, including materials for lithium-ion batteries and other advanced technologies [8].