NGC Northern Graphite Corp

NOT FOR DISTRIBUTION IN THE UNITED STATES OR OVER UNITED STATES WIRE SERVICES

Northern Graphite Corporation (TSX VENTURE:NGC)(OTCQX:NGPHF) ("Northern" or the
"Company") announces that Mindesta Inc. (OTCBB:MDST) ("Mindesta") has completed
the previously announced distribution of Northern shares to its shareholders.
Under the distribution, which was completed effective at the close of trading on
January 25, 2012, Mindesta distributed a total of 9,413,581 Northern shares
owned by it to its shareholders as a dividend-in-kind on the basis of one share
of Northern for each share of Mindesta held. Mindesta has mailed to all
shareholders entitled to receive the dividend an instruction letter which they
are required to complete and return to Mindesta's transfer agent in order to
effect delivery of the share certificates representing their Northern Shares.


Prior to the completion of the distribution, Mindesta held a total of 9,750,000
common shares of Northern, of which 7,312,500 shares remained in escrow under
escrow arrangements established in connection with the initial public offering
of Northern completed in April 2010. In order to effect the distribution,
6,976,081 of the shares held in escrow were released from escrow, while
2,437,500 shares had been previously released from escrow in accordance with the
terms of escrow. Following the completion of the distribution, Mindesta now
holds a total of 336,419 common shares of Northern, of which 252,314 shares
remain in escrow. In addition, certain principals of Mindesta, as shareholders
of Mindesta, received shares of Northern under the distribution and certain of
these shares were placed in escrow in accordance with the terms of escrow.
Following the completion of the distribution, a total of 2,087,325 shares of
Northern remain in escrow, as well as 803,574 Northern common share purchase
warrants and 926,437 shares of Mindesta, all of which are scheduled to be
released in five equal amounts every six months with the next release date being
April 19, 2012.


This press release is for information purposes only and shall not constitute an
offer to sell or the solicitation of an offer to buy nor shall there be any sale
of the securities in any jurisdiction in which such offer, solicitation or sale
would be unlawful.


About Northern Graphite Corporation

Northern Graphite Corporation (TSX VENTURE:NGC) is a Canadian company that has 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 has
completed a preliminary assessment on the project and is in the process of
completing a pre-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 part of 2012.


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, vanadium redox batteries, fuel cells and nuclear power
have the potential to create significant incremental demand growth. However,
production and exports from China, which produces 70% of the world's graphite,
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. With limited worldwide exploration and few potential
development projects on the horizon, the Company is well positioned to benefit
from the continued improvement in graphite demand and prices. High growth, high
value graphite applications require large flake and/or high purity graphite
which will represent 100% of Bissett Creek production.


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 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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