Mason Graphite Initiates Pilot Plant Testing on a 60 Tonne Bulk Sample at 29% Cg

MONTREAL, QUEBEC--(Marketwired - Oct. 21, 2014) - Mason Graphite Inc. ("Mason Graphite" or the "Company") (TSX VENTURE:LLG)(OTCQX:MGPHF) is pleased to announce that a pilot plant test for the Lac Guéret graphite project has been initiated at COREM's research facility in Quebec City. The operations are under the supervision of engineering firm Soutex, also based in Quebec City.

The pilot program is planned to operate for a six week period, during which COREM will test a bulk sample of approximately 60 tonnes of graphite mineralization obtained from Mason Graphite's Lac Guéret property, located in northeastern Quebec. The average head grade of the bulk sample is 29.1% Cg. The pilot program is designed to test the concentration process developed at the laboratory level by Mason Graphite, COREM and Soutex.

Samples collected during the pilot will serve multiple purposes, including:

• Testing of additional processing technologies;
• Characterization for the upcoming environmental impact assessment;
• Testing to create value added products such as spherical graphite used in lithium-ion batteries (these tests will be part of a complete technical study program for value added graphite products); and
• Testing with key potential customers.

The results of the pilot plant program will also be used for the upcoming feasibility study.

Qualified Person

Jean L'Heureux, Eng., Mason Graphite's Executive Vice-President Process Development and a Qualified Person as defined by National Instrument 43-101, has reviewed and approved the scientific and technical content of this press release.

About Mason Graphite

Mason Graphite is a Canadian mining company focused on the exploration and development of its 100% owned Lac Guéret graphite property, located in northeastern Québec. The property hosts a National Instrument 43-101 compliant Mineral Resource featuring 50,024,000 tonnes grading 15.6% Cg, including 6,672,000 tonnes grading 32.4% Cg, in the Measured and Indicated categories and 11,861,000 tonnes grading 17.1% Cg, including 2,637,000 tonnes grading 30.5% Cg, in the Inferred category (see press release dated December 5, 2013). Excellent potential exists for further mineral growth. A Preliminary Economic Assessment (PEA) study was completed on a 7.6Mt mineral resource estimate from July 2012 which features 22 years of production at 27.4% Cg and a pre-tax internal rate of return of 33.7% (see technical report entitled "Technical Report on the Mineral Resources Estimation Update 2013, Lac Guéret Graphite Project, Quebec, Canada" issued on January 17, 2014). The Company's senior management team possesses significant graphite expertise from their experience at Timcal/Imerys, including Benoît Gascon, CPA, CA, who held executive positions for 20 years, including over 6 years as President and CEO of Stratmin Graphite, the only graphite mine in North America; Jean L'Heureux, Eng., Executive Vice-President, Process Development, with over 20 years of experience; and Luc Veilleux, CPA, CA, Chief Financial Officer and Executive Vice-President, with 8 years of experience. Timcal, now owned by Imerys, is one of the largest graphite producers in the world.