GRAPHITE ONE RESOURCES RELEASES REMAINING 2014 DRILL RESULTS

Graphite One Resources Inc. has released the results of the final 10 holes of its recently completed 20-hole diamond drill program on its Graphite Creek project located near Nome, Alaska. The Company’s quality assurance/quality control (“QA/QC”) process discovered variances in the laboratory results of the first ten holes reported in its media release of December 1, 2014. It was found that there were minor differences in assay results due to equipment calibration issues. The Company is therefore releasing revised assays, using the certified reanalyses, for the analytical results of the first ten holes.

Highlights

– All ten holes intercept significant widths of near surface graphite mineralization along 700 m strike — Select intercepts include 14.95m of 8.46%, 42.81m of 6.27%, 17.92m of 13.37%, 18.29m of 7.36%, and 24.56m of 6.76% graphitic carbon (“Cg”) — Geology and assays confirm good vertical and lateral continuity of the mineralization — 2014 drilling results will be utilized to move a portion of the resource from Inferred to Indicated resource status and provide the basis for producing the initial Preliminary Economic Assessment of the Graphite Creek deposit

“These high grade, near surface assays continue to demonstrate that the Graphite Creek Deposit stands to be the premier large flake, high grade graphite deposit in North America. The mineralization continuity is outstanding and the favourable geological structures are impressive,” stated Anthony Huston, President and CEO for Graphite One Resources.

Summary of Drill Results

Graphite One has received results for drill holes 14GCH011 to 14GCH020 which in-filled between drill holes completed in 2012 and 2013 (see Figure 1). The drill program was completed in October 2014 and was designed to increase the vertical and lateral drill spacing along a 700 m strike length of the 4.8 km long Graphite Creek deposit, in preparation for a revised National Instrument 43-101 (“NI 43-101″) compliant mineral resource estimate to be completed in Q1 2015. Graphite One last released an updated mineral resource in January of 2014 totaling 186.9 Million Tonnes (“Mt”) of 5.54% Cg, and 37.68Mt of 9.2% Cg at cut-offs of 3% Cg and 7% Cg, respectively (see News Release of January 20, 2014)The results of the final ten diamond core holes are summarized in Table 1 below. Highlights include:

– 42.81m of 6.27% Cg including 6.78m of 9.14% Cg and 9.86m of 12.46% Cg — 24.56m of 6.76% Cg including 18.31m of 8.11% Cg — 38.80m of 7.80% Cg including 17.92m of 13.37% Cg

Copies of the final cross sections from the eleven section 2014 drilling program showing the drill hole geology and assays are included in the Appendix attached to this news release. Drill holes at near 50 degree dip are near true thickness intercepts. Vertical hole true thicknesses are approximately 77% of the drill hole intercept.

Revised 2014 Drill Assay Results

Following a review of the QA/QC results for six of the drill holes reported in the December 1, 2014 news release, Activation Labs confirmed a calibration variance with their analytical equipment resulting in a slight error in the Cg analyses reported by the Company. Following re-assay of all of the samples and checking with a third party laboratory, the revised results were found to be within acceptable ranges for standards. The new analyses replace the initial set of assays for these holes. Table 2 below shows the certified calibrated re-analysis of the sample intervals released in December as well as the original uncalibrated results that are being replaced. The average of the differences between the revised and the original assays for all ten holes is minus 0.05%.