NEWS RELEASE.

May 2, 2012: Vancouver, BC – Strike Graphite Corp. (Stock Profile – TSXV: SRK) announced that it has intersected graphitic gneisses on the first hole at the Company’s Simon Lake Property.  Thus far, Graphite mineralization has been encountered at the beginning of the hole, with the most abundant intercepts occurring from 10.2 to 23.9 metres (13.7 m interval); followed by a second graphitic zone from 45.7 to 69.5 metres (23.8 m interval).  A third graphitic zone from 93.5 to 102.2 metres (8.7 m interval) was also encountered.  In the field, flake sizes of up to 4 millimetres have been noted*.

Drilling of the first hole will continue until approximately 240 mettres or until passing through a final potential graphitic zone.   Photos of the core may be viewed at the following link: www.strikegraphite.com/core-photo-gallery.html

The current hole, SL-12-001, has verified the historic intervals of graphite in hole E42-5, at the Simon Lake West Target.  Historic hole E42-5 encountered a graphitic biotite gneiss with core descriptions of “disseminated graphite” or “coarse graphite flakes”, with narrower intervals described as “graphite flakes abundant” and “heavy graphite in 6 to 12 inch bands”.

For more information on this news – CLICK HERE.

*Readers should be cautioned that flake size determinations in the field are based on visual measurements from the drill core.  The flake size as reported may be aggregates of individual smaller graphite flakes.  The flake size determination is to be confirmed by optical mineralogy during mineral characterization.

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