Northern Graphite Begins Plant Relocation to Advance Okanjande Restart
Northern Graphite Begins Plant Relocation to
Advance Okanjande Restart
Ottawa, Ontario--(Newsfile Corp. - May 7, 2026) - Northern Graphite Corporation
(TSXV: NGC)
(OTCQB: NGPHF) (FSE: 0NG) (XSTU: 0NG)
(the "
Company
" or "
Northern
") is pleased to announce
that it has initiated work to relocate the processing plant in Namibia to the Okanjande mine site as it
advances plans to restart production in late 2027.
To support these activities, Northern has awarded a contract to Rotary Engineering Services, based in
Namibia, to dismantle the remaining plant
infrastructure at the former Okorusu site and transport it to the
Okanjande mine site for reassembly. The work is expected to be completed by the end of June 2026,
subject to normal execution conditions.
The contract marks the next step toward resuming production at Okanjande to position the operation to
supply flake graphite feedstock to the Company's planned Battery Anode Material ("BAM") plant in the
Kingdom of Saudi Arabia.
"This is a tangible step forward for Northern as we prepare to restart production at Okanjande," said
Northern Chief Executive Officer Hugues Jacquemin. "It puts us on a clear path toward supplying our
planned joint venture BAM facility in Yanbu, Kingdom of Saudi Arabia, which is targeted for initial
production in 2028, supporting Northern's broader mine-to-battery strategy."
In August 2023, Northern announced the results of a preliminary economic assessment ("PEA")
evaluating the relocation of its Namibian processing plant from Okorusu to the Okanjande mine site,
rather than rehabilitating the mill at its existing location. The PEA, issued July 31, 2023 and prepared by
CREO Engineering Solutions, confirmed the technical and economic viability of the approach. By
relocating the plant, Northern expects to reduce operating costs by eliminating the need to transport
mineralized material over long distances. The relocation also improves overall project sustainability,
reduces greenhouse gas ("GHG") emissions, and significantly enhances the project's expansion
potential. The Company is also evaluating other measures to improve sustainability at Okanjande,
including the potential use of solar power and the incorporation of dry tailings into an integrated waste
landform to reduce overall water consumption.
The Okanjande operation is currently on care and maintenance, with a targeted restart of production in
late 2027, subject to financing. Graphite produced from Okanjande is expected to supply both traditional
industrial markets, including refractory applications for steelmaking, heat management in electronics,
and friction products for the automotive sector, as well as the growing national security and battery
materials markets.
"Okanjande has a large resource located in one of the most politically stable countries in Africa, with
easy access to a deep-water port which provides substantial competitive advantages over most other
African projects," said Mr. Jacquemin. "Okanjande will allow us to move more quickly to serve the fast-
growing market for battery anode materials, with the potential to expand the facilities as these markets
develop."
Consulting Agreement
Northern is also pleased to announce that it has entered into a consulting agreement dated May 1, 2026
with Jackson Stafford (the "Consultant"). Under the terms of the agreement, the Consultant will assist the
Company with certain investor relations related activities to present the Company and its business plans,
strategy and personnel to the financial community, including communicating with investment dealers and
advisors, portfolio managers, analysts and media contacts, in accordance with the policies of the TSX
Venture Exchange (the "TSXV") and applicable securities laws.
The agreement is for a term of four months. In consideration for the services, the Company will pay the
Consultant a fee of $5,000 per month. No securities will be issued to the Consultant as compensation.
The Consultant is an arm's length service provider based in Toronto, Ontario with experience in business
development and client services in the financial sector oriented towards mining companies. The
Consultant does not currently own any securities of Northern. The agreement is subject to acceptance by
the TSXV.
About Northern Graphite
Northern is a Canadian, TSX Venture Exchange listed company that is the only flake graphite producing
company in North America.
Northern is focused on becoming a world leader in producing natural
graphite and upgrading it into high-value products critical to the green economy, including anode
material for lithium-ion batteries/EVs, fuel cells and graphene, as well as advanced industrial
technologies. The Company's mine-to-battery strategy is spearheaded by its Battery Materials Group,
which has a fully equipped, state-of-the-art laboratory in Frankfurt and is focused on advancing plans for
developing battery anode material plants in Saudi Arabia, Quebec and France.
Northern's graphite assets include the producing Lac des Iles mine in Quebec, where the Company is
boosting output to meet growing demand from industrial customers and coming demand from North
American battery makers. The Company also owns the large-scale, advanced stage Bissett Creek
graphite project in Ontario and the fully permitted Okanjande graphite mine in Namibia, which is currently
on care and maintenance, and represents an opportunity to substantially increase graphite production at
a lower cost and with a shorter time to market than most competing projects. All projects have "battery
quality" graphite and are located close to infrastructure in politically stable jurisdictions.
For media inquiries contact
Pav Jordan, VP of Communications
Email:
For Additional Information
Please visit the Company's website at
northerngraphite.com
, the Company's profile on
www.sedarplus.ca
our
Social Channels
listed below or contact the Company at (613) 271-2124.
YouTube
X
Cautionary Note Regarding Forward-Looking Statements
This news release contains certain "forward-looking statements" within the meaning of applicable
Canadian securities laws. Forward-looking statements and information are frequently characterized by
words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate", "potential",
"possible" and other similar words, or statements that certain events or conditions "may", "will",
"could", or "should" occur. Forward-looking statements in this news release include statements
regarding, among others, the Company's plans to restart the Okanjande mine in Namibia and
develop downstream processing capacity in North America, Europe and the Middle East. All such
forward-looking statements are based on assumptions and analyses made by management based on
their experience and perception of historical trends, current conditions and expected future
developments, as well as other factors they believe are appropriate in the circumstances. However,
these statements are subject to a variety of risks and uncertainties and other factors that could cause
actual events or results to differ materially from those projected including, but not limited to,
unexpected changes in laws, rules or regulations, or their enforcement by applicable authorities; the
failure of other parties to perform as agreed; social or labour unrest; changes in commodity prices;
unexpected failure or inadequacy of infrastructure and the failure of ongoing and contemplated
studies to deliver anticipated results or results that would justify and support continued studies,
development or operations and the inability to raise required financing. Readers are cautioned not to
place undue reliance on forward-looking information or statements.
Although the forward-looking statements contained in this news release are based on what
management believes are reasonable assumptions, the Company cannot assure investors that
actual results will be consistent with them. These forward-looking statements are made as of the date
of this news release and are expressly qualified in their entirety by this cautionary statement. Subject
to applicable securities laws, the Company does not assume any obligation to update or revise the
forward-looking statements contained herein to reflect events or circumstances occurring after the
date of this news release.
Neither the 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
news release.
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/296225