LLG Mason Resources Inc

NOT FOR DISTRIBUTION TO THE UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION
IN THE UNITED STATES.


Mason Graphite Inc. ("Mason Graphite" or the "Company") (TSX
VENTURE:LLG)(OTCQX:MGPHF) is pleased to announce that it has closed the
previously announced bought deal private placement offering announced on April
3, 2014. 


The Company issued, on a bought deal basis, a total of 17,692,319 units (the
"Units") at a price of $0.65 per Unit, which includes the exercise of the
underwriters option (the "Underwriter's Option") in full for aggregate gross
proceeds of $11,500,007 (the "Offering"). Each Unit is comprised of one common
share and one-half of one share purchase warrant. Each whole warrant will
entitle the holder to acquire one common share at a price of $0.85 for a period
of 24 months following the closing of the Offering. 


As part of the Offering, Ressources Quebec, a subsidiary of Investissement
Quebec subscribed for 4,615,385 Units for gross proceeds of $3,000,000. Upon
closing of the Offering, Ressources Quebec will have a right of first refusal to
participate in any future securities offerings by Mason Graphite.


The Offering was completed by a syndicate of underwriters led by Macquarie
Capital Markets Canada Ltd. and including National Bank Financial Inc. and
Dundee Securities Limited (together the "Underwriters").


The net proceeds of the Offering will be used to fund the continued development
of the Lac Gueret project and for general corporate purposes.


Moreover, the Company is pleased to announce an agreement in principle for
additional financing through convertible debentures for an aggregate gross
proceed of $4,150,000 with three renowned Quebec-based institutions: Sodemex
($3,000,000), a subsidiary of the Caisse de depot et placement du Quebec, the
Fonds de solidarite FTQ ($950,000) and the Fonds regional de solidarite FTQ
Cote-Nord ($200,000).


The conditions, to be confirmed at closing, would include, among others,
maturity after 5 years, interest of 12% per annum, payable semi-annually, and a
conversion rate into common shares of $0.845 per share. The Company can trigger
the conversion and anticipate the redemption under certain conditions. The
transaction would also include an aggregate of 2,075,000 warrants, each granting
the purchase of a common share at a price of $0.91 for a period of 24 months
following the closing of the transaction. The closing of this transaction, still
subject to certain conditions, to the finalization of definitive agreements
binding the parties and receipt of all applicable regulatory and other
approvals, is expected within 30 days following this announcement.


In connection with the Offering, the Underwriters received a cash commission
equal to 6.0% of the gross proceeds raised under the Offering and
non-transferable broker warrants equal to 6.0% of the number of Units sold
(inclusive of the Underwriters' Option). Each broker warrant will be exercisable
into one Unit of the Company for a period of 24 months from the closing of the
Offering at a price of $0.65 per Unit. All securities issued at the closing of
the Offering are subject to a hold period under applicable Canadian securities
legislation and the policies of the TSX Venture Exchange, which expires on
August 29, 2014. 


This news release does not constitute an offer to sell or a solicitation of an
offer to buy any of the securities in the United States. The securities have not
been and will not be registered under the United States Securities Act of 1933,
as amended (the "1933 Act"), or any state securities laws and may not be offered
or sold within the United States or to, or for the account or benefit of U.S.
persons (as defined in Regulation S under the 1933 Act) absent such registration
or an applicable exemption from such registration requirements.


About Mason Graphite 

Mason Graphite is a Canadian mining company focused on the exploration and
development of its 100% owned Lac Gueret graphite property, located in
northeastern Quebec. The property hosts a National Instrument 43-101 compliant
Mineral Resource featuring 50,024,000 tonnes grading 15.6% Cg, including
6,672,000 tonnes grading 32.4% Cg, in the Measured and Indicated categories and
11,861,000 tonnes grading 17.1% Cg, including 2,637,000 tonnes grading 30.5% Cg,
in the Inferred category (see press release dated December 5, 2013). Excellent
potential exists for further mineral growth. A Preliminary Economic Assessment
study was completed on a 7.6Mt mineral resource estimate from July 2012 which
features 22 years of production at 27.4% Cg and a pre-tax internal rate of
return of 33.7% (see technical report entitled "Technical Report on the Mineral
Resources Estimation Update 2013, Lac Gueret Graphite Project, Quebec, Canada"
issued on January 17, 2014). The Company's senior management team possesses
significant graphite expertise from their experience at Timcal/Imerys, including
Benoit Gascon, CPA, CA, who held executive positions for 20 years, including
over 6 years as President and CEO; Jean L'Heureux, Eng., Executive
Vice-President, Process Development, with over 20 years of experience; and Luc
Veilleux, CPA, CA, Chief Financial Officer and Executive Vice-President, with 8
years of experience. Timcal, now owned by Imerys, is one of the largest graphite
producers in the world. 


Qualified Person

Jean L'Heureux, Eng., Mason Graphite's Executive Vice-President of Process
Development and a Qualified Person as defined by National Instrument 43-101, has
reviewed and approved the scientific and technical content of this press
release. 


Stay Connected: Twitter: @MasonGraphite Facebook: /MasonGraphite 

For more information about Mason Graphite, visit www.masongraphite.com.

Cautionary Statements

This press release contains "forward-looking information" within the meaning of
Canadian securities legislation. All information contained herein that is not
clearly historical in nature may constitute forward-looking information.
Generally, such forward-looking information can be identified by the use of
forward-looking terminology such as "plans", "expects" or "does not expect", "is
expected", "budget", "scheduled", "estimates", "forecasts", "intends",
"anticipates" or "does not anticipate", or "believes", or variations of such
words and phrases or state that certain actions, events or results "may",
"could", "would", "might" or "will be taken", "occur" or "be achieved".
Forward-looking information is subject to known and unknown risks, uncertainties
and other factors that may cause the actual results, level of activity,
performance or achievements of the Company to be materially different from those
expressed or implied by such forward-looking information, including but not
limited to: (i) volatile stock price; (ii) the general global markets and
economic conditions; (iii) the possibility of write-downs and impairments; (iv)
the risk associated with exploration, development and operations of mineral
deposits; (v) the risk associated with establishing title to mineral properties
and assets; (vi) the risks associated with entering into joint ventures; (vii)
fluctuations in commodity prices; (viii) the risks associated with uninsurable
risks arising during the course of exploration, development and production; (ix)
competition faced by the resulting issuer in securing experienced personnel and
financing; (x) access to adequate infrastructure to support mining, processing,
development and exploration activities; (xi) the risks associated with changes
in the mining regulatory regime governing the resulting issuer; (xii) the risks
associated with the various environmental regulations the resulting issuer is
subject to; (xiii) risks related to regulatory and permitting delays; (xiv)
risks related to potential conflicts of interest; (xv) the reliance on key
personnel; (xvi) liquidity risks; (xvii) the risk of potential dilution through
the issue of common shares; (xviii) the Company does not anticipate declaring
dividends in the near term; (xix) the risk of litigation; and (xx) risk
management.


Forward-looking information is based on assumptions management believes to be
reasonable at the time such statements are made, including but not limited to,
continued exploration activities, no material adverse change in metal prices,
exploration and development plans proceeding in accordance with plans and such
plans achieving their stated expected outcomes, receipt of required regulatory
approvals, and such other assumptions and factors as set out herein. Although
the Company has attempted to identify important factors that could cause actual
results to differ materially from those contained in the forward-looking
information, there may be other factors that cause results not to be as
anticipated, estimated or intended. There can be no assurance that such
forward-looking information will prove to be accurate, as actual results and
future events could differ materially from those anticipated in such
forward-looking information. Such forward-looking information has been provided
for the purpose of assisting investors in understanding the Company's business,
operations and exploration plans and may not be appropriate for other purposes.
Accordingly, readers should not place undue reliance on forward-looking
information. Forward-looking information is made as of the date of this press
release, and the Company does not undertake to update such forward-looking
information except in accordance with applicable securities laws.


Mineral resources that are not mineral reserves do not have demonstrated
economic viability. The estimate of mineral resources may be materially affected
by environmental, permitting, legal, title, taxation, sociopolitical, marketing,
or other relevant issues.


The quantity and grade of reported inferred mineral resources in this news
release are uncertain in nature and there has been insufficient exploration to
define these inferred mineral resources as indicated or measured mineral
resources and it is uncertain if further exploration will result in upgrading
them to indicated or measured mineral resources.


The PEA is preliminary in nature and includes Inferred Mineral Resources, which
are considered too geologically speculative to have mining and economic
considerations applied to them that would enable them to be categorized as
mineral reserves. Mineral resources that are not mineral reserves do not have
demonstrated economic viability. There is no certainty that the reserves
development, production, and economic forecasts on which the PEA is based will
be realized.


Neither TSX Venture Exchange nor its Regulation Services Provider (as that term
is defined in the policies of the TSX Venture Exchange) accepts responsibility
for the adequacy or accuracy of this release.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Mason Graphite Inc.
Investor Relations
info@masongraphite.com
www.masongraphite.com


Mason Graphite Inc.
Simon Marcotte
Vice-President Corporate Development
+1 (416) 861-5822


Mason Graphite Inc.
Benoit Gascon
President & CEO
Head Office (Greater Montreal)
3030 Le Carrefour blvd. Suite 600
Laval QC H7T 2P5


Mason Graphite Inc.
Toronto Office
65 Queen Street West, Suite 800

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