Mason Graphite Inc. reported assay results for the remaining 104 drill holes from the 2012 mineral resource expansion program at its Lac Guéret project in northeastern Quebec. This drill program was designed to test for mineralization extending outside of the July 2012 resource envelope within its hosted GC Zone, as well as in the GR Zone, a prospective secondary target located less than one kilometre away from it. Mineralization with similar grades was successfully identified in both zones. The new results for 86 drill holes from the GC Zone and 18 drill holes from the GR Zone conclude the 26,500 metre drill program conducted in the second half of 2012. Significant drill intercepts obtained from the GC and GR zones in this group of results include: GC Zone: Hole LG-221 intersected 55 meters at 26.1 % Cgr; Hole LG-234 intersected 128 meters at 21.1 % Cgr, including 27 meters at 37.3 %; and Hole LG-235 intersected 197 meters at 17.1 % Cgr, including 39 meters at 33.9 %. GR Zone: Hole LG-248 intersected 31 meters at 20.2 % Cgr; and Hole LG-257 intersected 32 meters at 15.9 % Cgr. High grade drill intercepts from holes LG-221 (55 meters at 26.1 % Cgr) and LG-222 (36 meters at 27.5 % Cgr) located in the GC zone suggest a possible extension to the northeast of the July 2012 mineral resource envelope. The company intends to follow up on these holes of interest in the next phase of drilling. An updated mineral resource estimate using the Company's July 2012 resource calculation and the 145 new drill results from the GC zone is expected for completion in the coming months by Roche Ltd. Consulting Group, who also completed the Company's previous resource calculation. Advancements on the Preliminary Economic Assessment, conducted by Met-Chem and based on the July 2012 mineral resource calculation, are progressing well and the Company expects to release its results in the first part of the second quarter of 2013. The Lac Guéret project currently hosts a mineral resource of 300,000 tonnes at 24.4% Carbon as Graphite in the measured category and 7.3 million tonnes at 20.2% Cgr in the Indicated category.

Mason Graphite Inc. reported assay results for 36 new drill holes (6,830 meters) from the mineral resource expansion program at its Lac Guéret project in northeastern Quebec. Significant drill intercepts in this group of results include: Hole LG-038 intersected 60 meters at 13.2% Cgr and 36 meters at 15.8% Cgr; Hole LG-039 intersected 113 meters at 15.5% Cgr (including 11 meters at 38.7% Cgr); Hole LG-057 intersected 55 meters at 16.4% Cgr (including 16 meters at 27.1% Cgr); Hole LG-207 intersected 44 meters at 17.1% Cgr (including 12 meters at 31.4 % Cgr) and 28 meters at 16.9% Cgr (including 13 meters at 27.2% Cgr); Hole LG-213 intersected 26 meters at 18.1% Cgr and 63 meters at 15.4% Cgr; Hole LG-215 intersected 31 meters at 24.3% Cgr and 17 meters at 18.3% Cgr; and Hole LG-227 intersected 33 meters at 13.3% Cgr and 76 meters at 12.0% Cgr.

Mason Graphite Inc. announced the appointment of Mr. Tayfun Eldem, P. Eng., current Director of the company, as chairman of the board. Mr. Tayfun Eldem currently serves as the President and CEO of Alderon Iron Ore Corp. Prior to his Projects role, Mr. Eldem was responsible for all of IOC's Operations including the mine, process plants, rail and port facilities. Mr. Eldem replaces Mr. Tyrone Docherty as Chairman of the Board, however Mr. Docherty will continue to serve Mason Graphite as Vice-Chairman.