Next Graphite Inc. (fka GPNE)

[Dina]

Next Graphite, Inc. Acquires Remaining Ownership Rights of 125,000 Acre Aukam Property and Graphite Mine

http://finance.yahoo.com/news/next-graphite-inc-acquires-remaining-130000074.html

NEW YORK, NY and WINDHOEK, NAMIBIA -- (Marketwired) -- 08/20/15 -- Next Graphite, Inc. (OTC PINK: GPNE) ("Next Graphite," "GPNE" or the "Company"), a graphite exploration/development stage company in Africa's Republic of Namibia, today announced the Company has acquired the remaining 10% ownership stake of its previously 90% owned mining rights to the 125,000 square acre Aukam property, inclusive of its 140,000 tonne heaps and existing adit infrastructure.

In November of 2013, Next Graphite successfully acquired 90% of the prospecting license and rights to conduct operations in the Aukam license area. The previous owner was Gazania Investments Two Hundred and Forty Two (Proprietary) Limited ("Gazania"), from which the Company acquired the license. The Aukam property is the only mine in Namibia which has produced graphite. Under agreement, the purchase price was fully paid by Next Graphite on March 14, 2014.

On June 19, 2015, an Agreement for the sale of the remaining 10% of Gazania's license ownership was finalized. The purchase prices that have been paid by the Company for the entire ownership of the license now totals $255,000.

As a result of this latest purchase Next Graphite, Inc. currently has 100% ownership rights to the prospecting license that provides rights to conducting prospecting, exploration, testing and mining of graphite on the 125,000 acre Aukam property.

As previously reported, Next entered into a Joint Venture Agreement with Micron Investments Pty. Ltd. on June 8, which allows for Micron to earn up to 63% of the license after it has built a processing plant and fulfilled other stipulations in the agreement favourable to Next Graphite. Micron recently transitioned into a planned acquisition by Caribou King Resources, Ltd, (TSX VENTURE: CKR) (FRANKFURT: CB8) (OTCBB: CBULF) and they are now Next Graphite's JV partner.

"The purchase of the remaining 10% ownership of the Aukam license is further evidence of the Company's belief in the future mining potential of this large site," said Cliff Bream, CEO of Next Graphite. "Our independent Preliminary Economic Assessment report stated that in addition to the valuable mining heaps already on the surface that can be commercialized, there is an estimated 4 million tonnes of reserve of high-grade graphite from hydrothermal source. We and our joint venture partner fully intend to exploit these resources," Bream said.

About Next Graphite, Inc. Next Graphite, Inc. is an exploration/development stage company targeting the growing global graphite production industry with the Company's 125,000-acre Africa-based Aukam Graphite Project. The Aukam Graphite Mine was established in 1940 in the current Republic of Namibia, produced USD$30 million of graphite at today's prices. The Graphite property is estimated to still contain a significant amount of high grade, vein type graphitic material. Global graphite demand is being driven by the development of new markets for clean and efficient energy alternatives, smart grid infrastructure and military capabilities. Next Graphite has an immediately available, surface-visible, estimated 140,000-tonne mine heaps along with competitive projected mining and processing costs. The completion of GPNE's Aukam Graphite Mine re-launch and development activities are expected to result in a multi-million dollar inward investment into Namibia.

For more information, please visit: www.nextgraphite.com

About Caribou King Resources Ltd. Caribou King Resources Ltd. (TSX VENTURE: CKR) is a publicly-traded, Canadian junior exploration company that holds a portfolio of highly prospective graphite projects at various stages of exploration and assessment.

For more information, visit the website at www.caribouking.com. For more information, please visit: www.caribouking.com.