NEW YORK, NY and WINDHOEK, REPUBLIC OF NAMIBIA -- (Marketwired) -- 02/03/16 -- 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 receipt of the Company's conditional renewal of its exclusive prospecting license (the "license") in Namibia. Next Graphite's license will cover its 96,000-acre Aukam property including three existing adits and onsite heaps of graphite-bearing rock, which previously reported 95% of heap samples achieved 32% to 69% graphite content with the highest sample recorded at 82% graphite.
Next Graphite received notification from the Ministry of Mines and Energy Namibia outlining its preparedness to grant approval for the renewal of its exclusive 'Prospecting Licence No: 3895' that covers the Aukam Graphite Deposit in southern Namibia. Such notice was delivered to Gazania Investments 242 (PTY) Ltd ("Gazania"), the Namibian subsidiary of Next Graphite, Inc.
The initial renewal application was made by Gazania on behalf of Next Graphite, Inc. on March 13, 2015. Management of Next Graphite and its TSXv-listed JV partner, CKR Carbon, are confident conditions as outlined in the notice will be met within the 60-day timeframe given by the Namibian Ministry of Mines and Energy.
"We are pleased that the renewal process has reached this point and look forward to working with the Namibian Government to accommodate its objectives in order to complete the process and start to increase its inward investment into Namibia," said Cliff Bream, CEO of Next Graphite, Inc. "We look forward to working with our joint venture partner to commercialize our above ground assets and to mine the high-grade graphite reported in our existing adits," Bream concluded.
About Next Graphite, Inc.:
Next Graphite, Inc. is an exploration / development stage company targeting the growing global graphite production industry with the Company's 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 site is estimated to still contain a significant amount of high grade, vein type graphitic material, and is close to the port city of Luderitz. Global graphite demand is being driven by the development of new markets for clean and efficient energy alternatives, smart grid infrastructure and military capabilities. 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 commencing in 2016.
For more information, please visit: www.nextgraphite.com
Safe Harbor Statement
This press release contains forward-looking statements made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward looking statements are based upon the current plans, estimates and projections of Next Graphite Inc.'s management and are subject to risks and uncertainties, which could cause actual results to differ from the forward looking statements. Such statements include, among others, those concerning market and industry segment growth and demand and acceptance of new and existing products; any projections of sales, earnings, revenue, margins or other financial items; any statements of the plans, strategies and objectives of management for future operations; any statements regarding future economic conditions or performance; uncertainties related to conducting business in Africa, as well as all assumptions, expectations, predictions, intentions or beliefs about future events. Therefore, you should not place undue reliance on these forward-looking statements. The following factors, among others, could cause actual results to differ from those set forth in the forward-looking statements. Among others, could cause actual results to differ from those set forth in the forward-looking statements: business conditions in Africa, general economic conditions; geopolitical events and regulatory changes, availability of capital, the Company's ability to maintain its competitive position and dependence on key management. This press release does not constitute an offer to sell or the solicitation of an offer to buy any security and shall not constitute an offer, solicitation or sale of any securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction.
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Source: Next Graphite, Inc.