GRAPHITE ONE FILES NI 43-101 TECHNICAL REPORT WITH AN

INFERRED RESOURCE OF 164.5MT AT 4.61% GRAPHITE

January 21, 2013 - Calgary, Alberta - Graphite One Resources Inc. (TSX-V: GPH, OTCQX: GPHOF)

("Graphite One" or the "Company") is pleased to announce that it has filed a National Instrument (NI) 43-101

Technical Report for its maiden inferred resource at the Graphite Creek Property in the mining friendly state of

Alaska, USA. The resource for the Graphite Creek Property is based on the results from an 18 hole, 4,248 metre

drilling program conducted in 2012.

“Based on the size of the inferred and potential resource, we believe this to be the largest reported flake

graphite deposit in the world, and look to take an aggressive approach to advancing the project towards

production in the near future” stated Anthony Huston, President of Graphite One. “We have designed a

comprehensive exploration program for 2013 that includes drilling, environmental studies, permitting,

metallurgy, engineering, reporting and community relations initiatives, all of which are necessary steps for

bringing the deposit into production.”

Graphite One Inferred Resource

Cut-Off Grade (% Cg

a

)

by LECO

Tonnage

(Million)

Graphite % (Cg)

by LECO

In Situ Graphite

(Metric Tonnes)

2 164.5 4.61 7,583,450

3

b

107.2 5.78 6,196,160

5 54.98 7.66 4,211,468

7 25.44 9.69 2,465,136

10 7.8 13.49 1,052,220

a:Cg – Graphitic Carbon – b: 3% Cut-Off Grade being the base case in the NI 43-101 Technical Report.

"We are excited by the results of this independent National Instrument 43-101 inferred resource estimate, which

represents a major milestone for the Company and provides a solid base for further developing Graphite Creek.

We believe that the Property’s considerable percentage of high grade large flake graphite, the envisioned low

waste to ore strip ratio, readily accessible infrastructure, and prime location in a mining friendly jurisdiction

make Graphite Creek a compelling development project” continued Mr. Huston. “From a management

perspective, the economics of this sizeable resource provide a strong incentive to fast track this deposit into

production, thereby delivering significant value for our shareholders.”

The Technical Report was prepared by SGS Canada Inc., and APEX Geoscience Ltd., following the guidelines

of the Canadian Securities Administrations National Instrument 43-101 and Form 43-101F1. The report titled

“TECHNICAL REPORT, MAIDEN INFERRED RESOURCE ESTIMATE OF THE GRAPHITE CREEK

PROPERTY, ALASKA USA”, is filed on SEDAR and can be viewed on the SEDAR website, www.sedar.com,

and Graphite One’s website, www.graphiteoneresources.com.

The deposit remains open along strike to both the east and west, and down dip. The drilling program and inferred

resource confirm that near surface graphite mineralization exists in an area that is now over 2.2 kilometres in

length. The deposit exists along the north dip slope of the Kigluaik Mountains and the graphite bearing rocks

along North 61 degrees dip at approximately 60 degrees to the north with good continuity between drill holes.