Great Lakes Graphite Inc. - Announces Private Placement

Toronto, July 15, 2014 - Great Lakes Graphite Inc. (TSXV: GLK) ("Great Lakes" or the "Company") wishes to announce a new non-brokered private-placement offering of up to a total of five (5) million units of Company equity.

The private placement will comprise two separate unit offerings (collectively the "Offering"). The first will include an offering of 3,000,000 units (each a "Unit) at a price of $CDN 0.085 per Unit, for gross proceeds of up to $CDN 255,000. Each Unit will consist of one common share of the Company and one common share-purchase warrant (the "Warrants"); each Warrant will entitle the holder to purchase one additional common share of the Company at a price of $CDN 0.11 for a period of twenty-four (24) months after the closing of the Offering.

The second part will include an offering of 2,000,000 flow-through units (each a "Flow-Through Unit") at a price of $CDN 0.10 per Flow-Through Unit, for gross proceeds of up to $CDN 200,000. Each Flow-Through Unit will consist of one flow-through eligible common share of Great Lakes and one common share-purchase warrant (the "FT Warrants"); each FT Warrant will entitle the holder to purchase one additional Great Lakes common share at a price of $CDN 0.15 for a period of twenty-four (24) months after the closing of the Offering.

A finder's fee equal to a cash commission of 8% of the aggregate gross proceeds from the Units and/or Flow-Through Units sold, plus finder's warrants equal to 8% of the aggregate number of Units and/or Flow-Through Units sold, will compensate finders appointed by the Company to source subscriptions. All securities issued by the Offering will be subject to a hold period of four months plus one day. The Offering is subject to regulatory approval.

Net Proceeds from the Offering will be used to fund exploration of the Company's graphite projects in the Buckingham and Lochaber Townships of southwestern Québec and to develop additional graphite development opportunities.


About Great Lakes Graphite:

Great Lakes Graphite is an industrial minerals company with the mandate to bring graphite projects to production through the acquisition and development of high quality graphite properties. Graphite has moved to the forefront of the Industrial Mineral World as a Critical Mineral required for industrial use and as a major component in the development of new technologies. With the advancement of battery storage, mobile battery systems and alternative energy infrastructure, it is estimated that 20 new graphite mines will be required to keep up with worldwide demand by the year 2020.

As there are currently no graphite mines producing in North America, Great Lakes Graphite has the ability to become one of the first producers to supply a growing regional customer base that requires high-quality, purified graphite, where pricing and demand continue to rise.

The Company, through strategic acquisitions and capable management intends to become a leader in the industrial minerals marketplace. The Company's graphite properties are located in the Buckingham and Lochaber Townships of southwestern Québec. The Company has also entered into option and joint-venture agreements with Eloro Resources Inc. on the Summit-Gaber property located in the La Grande Greenstone Belt in the James Bay region of Québec. Further information regarding Great Lakes can be found on the Company's website at: www.GreatLakesGraphite.com

Great Lakes Graphite Inc. trades under the symbol GLK on the TSX Venture Exchange and has 50,569,820 shares outstanding (73,748,123 fully diluted).



For more information, please contact:

Paul A. Gorman, CEO
Great Lakes Graphite
Tel.: 416-768-6101
Email: pgorman@GreatLakesGraphite.com
www.GreatLakesGraphite.com



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