Research Reports

The Company’s policy is to post all meaningful research reports, of which it is aware, regardless of their recommendations or conclusions. Please note that all reports, opinions, estimates, or forecasts regarding Northern Graphite made by research analysts and referenced herein are those of the analysts alone and do not represent reports, opinions, forecasts, or predictions of Northern Graphite or its management. Northern Graphite does not by its reference herein imply its endorsement of, or concurrence with, any information, conclusions, or recommendations in such reports, opinions, forecasts, or predictions. In addition, readers should be aware, and are cautioned, that research analyst reports, opinions, estimates, or forecasts are not subject to the requirements of National Instrument 43-101 “Standards of Disclosure for Mineral Projects” (“NI 43-101”) and by its reference herein, Northern Graphite does not imply that any of the reports, opinions, estimates, or forecasts regarding Northern Graphite made by research analysts comply with NI 43-101. Readers should only refer to the technical report(s) of Northern Graphite relating to the Bissett Creek graphite project for information about the project prepared in accordance with NI 43-101.

2015
Hallgarten & Company – December, 2015

Secutor – March, 2015

2013
Industrial Alliance – November, 2013

Cantor Fitzgerald Notes – October 24, 2013

Chris Berry – March 11, 2013

Mackie Research – March 8, 2013

Seymour Pierce Initiates Coverage – January 28, 2013

Mackie Research Update – January 9, 2013

Chris Berry Update – January 9, 2013

Byron Capital Update – January 7, 2013

2012
Mackie Research Update – November 20, 2012

Chris Berry Update – November 5, 2012

IAS Update – November 1, 2012

Mackie Research Note – October 16, 2012

IAS Note – October 2, 2012

Chris Berry – July 12, 2012

IAS – Note – July 11, 2012

Mackie Research Update – July 20, 2012

Union Securities Update – July 10, 2012

Byron Capital Update – July 10, 2012

Libertas BFS Comment – July 10, 2012

Industrial Alliance Securities Inc. – A Step Away From Building Canada’s Next Graphite Mine – May 24, 2012

Industrial Alliance- Graphite: Black Gold for the 21st Century – May 1, 2012

Canaccord Research Report – April 4, 2012

MGI Securities Research Report – February 24, 2012

Dr. Michael Berry Update – January 13, 2012

Union Securities Research Update – January 12, 2012

Mackie Research Update – January 12, 2012

Byron Capital Research Update – January 12, 2012

2011

Mackie Research Report – August 10, 2011

Byron Capital Research Report – July 11, 2011

Union Securities Research Report – June 30, 2011

Dr. Michael Berry – April 20, 2011

Mackie Research Overview of NGC