Northern Graphite Corporation owns the Bissett Creek graphite project located in Ontario, Canada. It has a large mineral resource of graphite estimated using NI 43-101 standards. The project has the potential for open pit mining and conventional flotation processing to produce large and jumbo flake graphite concentrates of over 94% purity. The deposit is near surface and could provide a source of graphite to meet growing demand, particularly for batteries and other new technologies.

1. Northern Graphite Corporation
(NGC:TSXV, NGPHF:OTCQX)
The New Strategic Mineral

2. Forward Looking Statements
This Presentation may contain “forward-looking information” which may include, but is not limited
to, statements with respect to: timing of the receipt of governmental approvals and/or
acceptances; targets, estimates and assumptions in respect of production and prices; amount and
type of future capital expenditures and capital resources; mineral reserves and mineral resources;
anticipated grades; recovery rates; future financial or operating performance; costs and timing of
the development of new deposits; costs, timing and location of future drilling; production
decisions; costs and timing of construction; operating expenditures; costs and timing of future
exploration; and environmental and reclamation expenses. There can be no assurance that future
required regulatory approvals will be obtained or that anticipated transactions or proposed work
and construction programmes will be completed satisfactorily. Often, but not always, forward-
looking statements can be identified by the use of words such as “plans”, “expects”, “is expected”,
“budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates”, or “believes” or variations
(including negative variations) of such words and phrases, or state that certain actions, events or
results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved. Forward-looking
statements involve known and unknown risks, uncertainties and other factors which may cause
the actual results, performance or achievements of the Company and/or its subsidiaries and/or its
affiliated companies to be materially different from any future results, performance or
achievements expressed or implied by the forward-looking statements. Although the Company has
attempted to identify important factors that could cause actual actions, events or results to differ
materially from those described in forward-looking statements, there may be other factors that
cause actions, events or results to differ from those anticipated, estimated or intended. Forward-
looking statements contained herein are made as of the date of the applicable public record
document which the information is derived from and the Company has disclaimed any obligation
to update any forward-looking statements, whether as a result of new information, future events
or results or otherwise. There can be no assurance that forward-looking statements will prove to
be accurate, as actual results and future events could differ materially from those anticipated in
such statements. Accordingly, readers should not place undue reliance on forward-looking
statements due to the inherent uncertainty therein.
Unless indicated otherwise, all dollar figures are in U.S. dollars.

3. CAUTIONARY STATEMENT REGARDING MINERAL RESOURCES
This presentation and other information released by the Company uses the terms “resources”,
“measured resources”, “indicated resources” and “inferred resources”. United States investors are
advised that, while such terms are recognized and required by Canadian securities laws, the SEC
does not recognize them. Under United States standards, mineralization may not be classified as a
“reserve” unless the determination has been made that the mineralization could be economically
and legally produced or extracted at the time the reserve determination is made. Mineral
resources that are not mineral reserves do not have demonstrated economic viability. United
States investors are cautioned not to assume that all or any part of measured or indicated
resources will ever be converted into reserves. Inferred resources are in addition to measured and
indicated resources. Further, inferred resources have a great amount of uncertainty as to their
existence and as to whether they can be mined legally or economically. It cannot be assumed that
all or any part of the inferred resources will ever be upgraded to a higher category. Therefore,
United States investors are also cautioned not to assume that all or any part of the inferred
resources exist, or that they can be mined legally or economically. National Instrument 43-101
Standards of Disclosure for Mineral Projects (“NI 43-101”) is a rule developed by the Canadian
Securities Administrators, which established standards for all public disclosure an issuer makes of
scientific and technical information concerning mineral projects. Unless otherwise indicated, all
resource estimates contained herein or in other information released by the Company in the past
and in the future, have been or will be prepared in accordance with NI 43-101 and the Canadian
Institute of Mining, Metallurgy and Petroleum Classification System. The requirements of NI 43-
101 are not the same as those of the SEC.

4. The Newest Strategic Mineral
• Growing industrial demand from emerging economies
• Prices have tripled
• Demand growth from new applications
- Li ion batteries, fuel cells, nuclear power
• Chinese supply concerns (70% of world production)
• EU and USA have named graphite a supply critical mineral
• Leading undeveloped deposit with NI 43-101 resource
• Located in Canada, close to infrastructure
• Simple mining & metallurgy
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5. Graphite 101
• One of two natural carbon polymers (diamonds)
• Highest natural strength/stiffness of any material
• Corrosion and heat resistant
• Excellent conductor of heat and electricity
• High lubricity
• Lightest weight of all reinforcements
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6. What is Graphite Used For?
• 5% annual growth rate this decade
– Driven by Asian steel and auto markets
• Major end uses
– Steel & refractories (41%)
– Carbon brushes and batteries (21%)
– Automotive parts (14%)
– Lubricants (14%)
– Other (10%)
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7. Large and Growing Industrial Market
(tpy)
Nickel 1,276,000
Graphite 1,006,000
(40% flake, 60% amorphous)
Molybdenum 190,000
REE (oxides) 124,000
Cobalt 68,000
Tungsten 55,000
Lithium 23,000
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8. Green Energy Technologies
• Three emerging technologies with potential to
use multiples of current annual production
• All have operating versions now
– Lithium ion batteries
– Fuel cells
– Pebble bed nuclear reactors
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9. Lithium Ion Batteries
• Graphite is the anode material - no substitutes
• It takes 20-30 times more graphite than Li (by
weight) to make Li ion batteries
• Current Li ion battery demand 30,000 tpy and
growing 20-30% annually
- Power tools, motor scooters, etc.
• Li ion batteries in cars will lead to rapid demand
growth (2kg of graphite in HEV, 25-50kg in EV)
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10. Incremental Li Carbonate Demand in 2020
(000 tonnes)
EV Market Penetration
1% 5% 10% 15% 20%
5% 49 109 185 260 336
HEV
10% 82 143 218 294 370
Market
Penetration 15% 116 176 252 328 403
20% 150 210 286 361 437
25% 183 244 319 395 470
(Canaccord Research)
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11. Required Annual Flake Graphite Production
(000 tonnes)
2020 EV Market Penetration
1% 5% 10% 15% 20%
5% 286 637 1,082 1,520 1,965
10% 479 836 1,274 1,719 2,163
2020 HEV
Market 15% 678 1,029 1,473 1,918 2,356
Penetration 20% 877 1,228 1,672 2,111 2,555
25% 1,070 1,310 1,865 2,310 2,748
Current annual flake graphite production is 400,000 tonnes
-one tonne of Li carbonate equals 0.1879 tonnes of Li metal
-one tonne of Li metal requires 10.375 tonnes of graphite
-3 tonnes of graphite flake required to make 1 tonne of spherical graphite for Li ion batteries
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12. Li Ion Batteries in the News
..Congressional stimulus bill includes tens of billions of dollars in loans,
grants, and tax incentives for battery and HEV research and
manufacturing to jump-start US industry…
..Michigan awards $544 MM in tax credits to four companies with plans to
invest more than $1.7 billion in Li ion battery manufacturing in the state…
..National Alliance for Advanced Transportation Batteries has selected a
Kentucky site to build a $600M automotive Li ion battery plant…
..Li battery manufacturer EnterDel plans to invest $237M in new
Indianapolis plant…
.."My administration's intent is to make our state the advanced battery
capital of the world," Michigan Gov. Jennifer M. Granholm…
.. Samsung predicts global lithium ion battery market will swell to $32
billion in 2015 from $ 11billion last year, plans to spend
$359 million on battery production this year
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13. Fuel Cell Demand
• “Large-scale fuel-cell applications are being developed
that could consume as much graphite as all other uses
combined” – USGS, 2009
• All major car companies are working on fuel cell vehicles
• “Toyota sees a clear path to commercial introduction of
fuel cell vehicles by 2015”
• Honeywell, Siemens, Ballard Power and many others
targeting fuel cell markets for non-transportation uses
• 80kg of graphite in fuel cell vehicle
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14. Pebble Bed Nuclear Reactors
• Smaller, safer, less costly to permit, build and operate
• Fuel is uranium embedded in graphite balls
-3,000t of graphite to start, 600-1,000 tpy per 1,000MW
• China has operating prototype, and state-owned Huaneg
Group is building two pebble-bed reactors of 200MW each
-One of top 16 priorities in 2006-2020 Plan
-30 planned by 2020
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15. Chinese Supply Concerns
• 70% of global production from China
• Mainly low carbon, low value powder or small flake
• Declining production and increasing costs forecast
– decreasing quality and deeper operations
– increasing labor & environmental standards
– modernization and consolidation of industry
• Emphasis on value added processing
• Export taxes, VAT and export licenses imposed
• Production/exports expected to decline
• Currency appreciation will increase costs/prices
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16. Graphite Market Summary
• Growing demand from traditional uses
• Growing demand from new industrial applications
• Growing demand from green energy technologies
• Market dependence on Chinese
• Chinese supply issues
• Lack of exploration, investment and new projects
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17. Graphite Prices on the Rise
Price Range for +80 mesh, 94-97%C graphite (US$/tonne)
$3,250
$3,000
Demand growth combined with supply concerns have
$2,750
led to 78% price increase over the past 4 years
$2,500
$2,250
$2,000
$1,750
$1,500
$1,250
$1,000
$750
$500
$250
$0
2000 2000 2001 2002 2003 2003 2004 2005 2006 2006 2007 2008 2009 2009 2010 2011
Low High
Source: Industrial Minerals Magazine
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18. Premium Pricing for Size and Purity
$/tonne Bissett Creek
Size/Purity 80-85% C 90% C 94-97% C
+48 Extra Large - - +$3,000 55%
-48 +80 Large - $1,250-1,450 $2,500-3,000 35%
-80 +100 Medium $1,500-1,900 $1,300-1,450 $2,200-2,500 10%
-100 Fine - $1,400-1,800 $2,000-2,400 30%
powder Amorphous $600-800 - - 70%
China
Source: Industrial Minerals Magazine Prices, Roskill Industry Report
1

19. Bissett Creek Project
• 100km east of North Bay,
Ontario
• Easily accessible, 17km
from Trans-Canada hwy,
close to infrastructure
• Close proximity to major
North American steel and
automotive markets
• Freight cost advantage
100 km
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20. Mineral Tenure
• Large, 100% owned land position
• 18 claims and 1 mining lease totaling 3,000ha
• No major community/aboriginal issues
• $20/tonne royalty on concentrate produced
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21. Large Scalable Graphite Resource
•Full feasibility study in 1989 (including P&P reserve*)
•2010 NI 43-101 Preliminary Assessment Report
2011 Updated Mineral Resources (Diluted)
Indicated Inferred
%Cg Tonnage* Cg(%) In Situ Graphite** Tonnage* Cg(%) In Situ Graphite**
Cut-off (metric tons) by LECO (metric tons) (metric tons) by LECO (metric tons)
0.986 25,983,000 1.81 470,300 55,038,000 1.57 864,100
1.227 24,588,000 1.85 454,900 50,472,000 1.62 817,600
1.50 19,954,000 1.99 397,100 33,672,000 1.81 609,500
1.75 16,031,000 2.34 375,100 21,417,000 2.21 473,300
2.0 11,921,000 2.50 298,000 14,584,000 2.37 345,600
*Historical information is presented for information purposes only. The Feasibility Study and Reserve estimates
were not completed in accordance with NI 43-101 and therefore should not be relied upon.
** Mineral resources are not mineral reserves and do not have demonstrated economic viability.
***The 43-101 Preliminary Assessment includes inferred mineral resources which are considered too speculative
geologically to have economic considerations applied to them that would enable them to be categorized as mineral
reserves. Furthermore, there is no certainty that the results projected in the Preliminary Assessment
will be realized and actual results may vary substantially.
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22. Expansion Potential
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23. Simple Mining
• Deposit at surface, no overburden
• Continuously mineralized throughout
• Low waste-to-ore ratio
• Conventional open pit mining
• Operating costs of $1,000/t (contract mining)
Typical cross-section of Bissett Creek orebody
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24. Simple Metallurgy
• Bulk sampling, pilot plant testing, and extensive lab
work previously completed by Cominco/Kilborn/BD
• Conventional flotation processing (92-95% recoveries)
• Confirmed by independent tests in 2007 and 2011
• Additional pilot plant testing 4Q 2011
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25. Large Flake, High Purity Deposit
• 50% +48 mesh jumbo flake 98%C
• 30% +80 mesh large flake 94%C
• 7% +100 mesh medium flake 94%C
• 13% +200 mesh small flake 94%C
• Even if some mines increase their production, this will not solve the persisting
supply problem for large flake crystalline graphite . Technographit, Feb/2009
• Consumption of flake graphite is growing at the expense of amorphous graphite
and there is a potential mismatch between supply and demand for flake graphite
.Roskill Aug/2009
• Inventories are now running so low for certain grades that we are seeing a
shortage, especially for 94-97%C, +80 mesh….Timcal Oct. 2009
• Presently, large flake graphite supply is very tight due to decreased production
capacity of Chinese mines … Technographit, Mar. 2010
• The days of cheap, abundant graphite from China are over…. Industrial
Minerals Magazine May, 2011
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26. Project Parameters
• C$70-80 MM capital cost
• 2,500 tpd processing rate
• 19,000 tonnes of graphite produced per year
• <0.50 waste-to-ore ratio
• Cash cost of $1,000 per tonne
• 40 year life-of-mine with expansion potential
The 43-101 Preliminary Assessment includes inferred mineral resources which are considered too
speculative geologically to have economic considerations applied to them that would enable them to be
categorized as mineral reserves. Furthermore, there is no certainty that the results projected in the
Preliminary Assessment will be realized and actual results may vary substantially.
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27. Timeline to Production
2010 2011 2012 2013
Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2
Exploration & expansion drilling
Confirm metallurgy
Pilot plant
Bankable feasibility
Permitting
Construction
First production
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28. High Price Leverage
Conservative 43-101* Current
($CDN/tonne)
Average price $1,300 $1,700 $2,500
Costs 1,000 1,000 1,000
Margin $300 $700 $1,500
($CDN)
Net cash flow ($M) $108.3 $371.5 $937.0
NPV ($M @10%) $3.9 $75.6 $180.4
IRR (%) 10.6 24.0 42.0
Annual cash flow $3.9 $9.3 $28.7
*The 43-101 Preliminary Assessment includes inferred mineral resources which are considered too
speculative geologically to have economic considerations applied to them that would enable them to be
categorized as mineral reserves. Furthermore, there is no certainty that the results projected in the
Preliminary Assessment will be realized and actual results may vary substantially.
1

29. Northern Graphite Share Structure
Shares Outstanding
Mindesta Inc. (OTC-BB) 9,750,000
Other shareholders 27,249,054
Total 36,999,054
Warrants 5,653,442
Options 2,950,000
Fully-Diluted 45,602,496
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30. Experienced Management & Board
Gregory Bowes B.Sc (geology), MBA CEO and Director
Formerly Senior VP, Orezone Gold Corporation
Don Baxter P. Eng President
Formerly President, Ontario Graphite Corporation
Stephen Thompson CA CPA (Illinois) Chief Financial Officer
Formerly Vice President Finance, Ottawa Hydro Limited
Ron Little P. Eng Director
President and CEO, Orezone Gold Corporation (ORE:TSX)
Iain Scarr B.Sc (geology), MBA Director
Former Commercial Director, Rio Tinto industrial minerals division, VP Corporate Development, Lithium One
Jay Chmelauskas MBA Director
President/Director, Westerm Lithium Corp.
K. Sethu Raman PhD Director
Independent Mining Consultant
Don Christie CA Director
Former CFO, Continental Gold
George Hawley Technical Advisor
40 years of experience in industrial minerals R&D, market analysis and development
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31. Summary
 Large, growing industrial market
 Demand growth from emerging applications
 Supply concerns with China
 Large flake, high purity, advanced graphite deposit
 Good infrastructure and close to markets
 Experienced management team and board
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32. Next Steps
• Pilot plant results (1-2 months)
• Test production of spherical graphite (1-2 months)
• Complete bankable feasibility study (3 months)
• Negotiate financing/offtake with strategic partner
• Initiate detailed engineering, site preparation,
order long lead time equipment (subject to FS results)
• Complete permitting in 1Q 2012
• Construction of mine – 1 year
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33. Northern Graphite Corporation (NGC:TSXV, NGPHF:OTCBB)
The Newest Strategic Mineral