GXY

Galaxy Graphite Corp. (TSX VENTURE:GXY) (the "Company" or "Galaxy") is pleased
to announce that it has receive a permit from the Quebec Ministere des
Ressources naturelles et de la Faune to allow drilling to proceed on the SUN
graphite project, located 125 km northeast of Baie-Comeau, QC.


Drilling will consist of 2500 - 3000 metres, with holes typically being 75 - 125
m in depth (25-30 holes in total). The program is expected to commence on or
about August 24, 2012 and last for about one month. The drilling will be
contracted to Forage Val D'Or and the program will be managed by Consul-Teck of
Val d'Or, QC. 


The company has recently completed a program of mapping, prospecting and
sampling on the property. Assay results on the samples are pending.


SUN Graphite Property, Quebec

The Sun Graphite property consists of 4,200 hectares, located approximately 145
km by road, north of Baie-Comeau, QC. Galaxy Graphite Corp has an option to
acquire a 100% interest in the property. The claim block hosts multiple targets
for large flake graphite, initially identified by Outokumpu Mines Inc. in 1998,
looking for base metal mineralization.


Outokumpu conducted a 2500 km helicopter-borne magnetometer and electromagnetic
survey over the area in 1998. Ground follow-up of the resulting anomalies
determined that all of the conductive zones were caused by graphite, rather than
by massive sulphides containing base metals. No further ground work was
performed by Outokumpu at that time.


The property is located within the Central Metasedimentary Belt of the Grenville
Province of the Canadian Shield. This geological province is characterized by a
high level of metamorphism, critical in the development of coarse flake
graphite. This metamorphism is believed to have occurred from 700 million to one
billion years ago.


The property geology features a contact zone between the Lac de la Blache
anorthosite complex and a variably magnetic sequence of cataclastic gabbro
interlayered with paragneiss. According to reports prepared for Outokumpu on the
ground follow-up work in 2000, the paragneiss is the main host for graphite
mineralization. Graphite was found in zones 20 meters in width. Within these
zones, disseminated graphite, typically containing 10% graphite, and massive
veins, 20-30 cm in width, were commonly observed.


Within the property boundary, in excess of 25 km of conductive horizons were
identified from the airborne survey. All of this may be considered prospective
for graphite mineralization.


Because graphite was not the commodity of interest, no testing of the graphite
(such as sieve tests) was carried out. However, elsewhere in the Grenville
Province, similar geological environments are usually characterized by the
presence of coarse flake graphite with high carbon content (94-97%).


The Company cautions that it has not verified the quality and accuracy of the
historic data reported in this news release, which predate the introduction of
National Instrument 43-101 and cautions readers not to rely upon them. The
historic information was generated from internal company reports from a previous
operator. This source believed to be reliable; however, it has not been
confirmed by the company's Qualified Person.


Chris M. Healey P.Geo, a Qualified Person as defined by National Instrument
43-101, has reviewed and approved the technical content of this release.


CHRIS M. HEALEY

ON BEHALF OF THE BOARD

Chris M. Healey, President and CEO

We seek safe harbor.

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