NEWS RELEASE.

October 2, 2012: Vancouver, BC – Strike Graphite Corp. (Stock Profile – TSXV: SRK) released drill results for the spring 2012 exploration program at the Simon Lake graphite property, located in north-central Saskatchewan.

Blair Way, chief executive officer, remarked: “These initial drill hole results are very exciting and continue to verify our interpretation of continuity for the 25-kilometre strike length of the electromagnetic conductor. The high graphitic carbon content and potential scale of the Simon Lake graphite occurrences warrant follow-up metallurgical test work to confirm flake-size distribution and more drilling along the strike length of the conductor.”

During late spring, the company completed four diamond drill holes within the historic Simon Lake trend (visit the company’s website for a location map). Three conductive zones were targeted and tested small portions of the approximately 25-kilometre conductive trend. Results of the exploration program confirm substantial widths to the graphitic horizon, which are thought to form a continuous mineralized horizon that continues to surface.

Highlights:

•  Hole SL-12-002 — 93.8 metres of 2.11 per cent graphitic carbon (Cg), including 32.8 metres of 3.3 per cent Cg;

• Hole SL-12-003 — 25.3 metres of 3 per cent Cg, including 11.2 metres of 5.03 per cent Cg;

• Hole SL-12-004 — 25.1 metres of 3.21 per cent Cg, including 15.2 metres of 4.46 per cent Cg.