May 4 2015
Eagle Graphite Incorporated ("Eagle Graphite" or the "Company") is pleased to announce it has initiated the 2015 exploration program on its plant site, located 35 kilometres west of Nelson, British Columbia, Canada.
The Company intends to explore a significant portion of its 200 hectare ("ha") plant lease, including the location known as the "Beau Zone". This flake graphite prospect was discovered in 2002 at an outcrop exposure above Koch Creek, approximately 100 metres from the graphite processing plant, followed by a further discovery of graphite mineralization in an electrical grounding drill hole drilled adjacent to the plant. In the subsequent seven diamond drill hole program, also conducted in 2002, a graphite zone was transected in five of the holes.
The Company is now resuming the exploration work at the plant area. Planned activities between now and June 2015 include surface trenching and diamond drilling, making continuous refinements to the program as new information becomes available. Eagle Graphite's current National Instrument 43-101 compliant resource estimate does not include any mineralization from this area.
Jamie Deith, President and CEO, states "We are excited to have this work underway. We anticipate that within a few months, we will have greatly improved our understanding of the structural geology of the deposit. While there is no certainty of establishing any incremental resource estimate, we would be very pleased if it does turn out that way. Having a resource available this close to our plant could significantly broaden our options for further development of the project."
About Eagle Graphite
Eagle Graphite Incorporated is an Ontario company that owns one of only two natural flake graphite production facilities in North America, located 35 kilometres west of the city of Nelson in British Columbia, Canada, and 70 kilometres north of the state of Washington, USA, known as the Black Crystal graphite quarry. The Company's shares are listed on the TSXV under the symbol "EGA" and on the Frankfurt Stock Exchange under the symbol "NJGN".
Edward Nunn, P.Eng., a "Qualified Person" as defined by NI 43-101, has approved the scientific and technical information in this press release.