LLG Mason Resources Inc

Mason Graphite Inc. ("Mason Graphite" or "the Company") (TSX
VENTURE:LLG)(OTCQX:MGPHF) and Conseil des Innus de Pessamit are pleased to
announce the signing of a cooperation agreement for the pre-construction phase
of Mason Graphite's 100% owned graphite project located near Lac Gueret, about
300 km north of Baie-Comeau, part of the Nitassinan (traditional lands) of the
Pessamit First Nation.


Mason Graphite intends to build an open-pit graphite mine, which is expected to
produce 50,000 tons of concentrate per year. The mine is also expected to
include infrastructure for a concentrator, as well as maintenance, office, and
personnel buildings. Once in production, the operation is expected to create
approximately 80 direct jobs for both aboriginal and non-aboriginal inhabitants
of the area. Construction could potentially begin as early as 2015. 


A Generational Project

Representatives of Mason Graphite and the Pessamit Innu describe the Lac Gueret
mine as "a generational project," since the resource is amply sufficient to
achieve production at full capacity for an initial 22-year period, which
represents less than 10% of the total mineral resource. "The Lac Gueret project
will be a world-class operation," said Mason Graphite CEO Benoit Gascon. "Not
only is this very high quality, crystalline large-flake graphite, a highly
sought-after product on international markets, but the average grade of the ore,
as set out in the Company's PEA, is approximately 27.4% Cg and its purity is at
the top of the grading scale. We expect prices to average an estimated $1,525
per ton, resulting in potential sales of $76.2 million per year. That's what I
call a promising future!"


Fairness between Two Nations

Rene Simon, Chief of the Pessamit Innu, expressed his satisfaction regarding the
cooperation agreement signed with Mason Graphite, which not only clears the way
for an Impact and Benefits Agreement (IBA) but provides for a fair distribution
of construction, maintenance, and operating jobs and contracts, according to the
available resources of the communities. "It's understood of course that our side
has some catching up to do in terms of economic development," said Chief Simon.
"Pessamit doesn't have the businesses and qualified workers that other parts of
the Cote-Nord region do. That's why the cooperation agreement includes
incentives and training programs delivered through existing organizations as
well as onsite apprenticeships once the project is underway. Our agreement with
Mason Graphite is based on the principal of equity between two nations, which is
why we, the Innu of Pessamit, are actively supporting it." 


The Starting Point for Regional Dialogue on the Project

The agreement is an important first step in establishing the kinds of
relationships Mason Graphite seeks to have with the Pessamit community and all
the people of Manicouagan. Mason Graphite plans to hold information and
consultation activities in the coming months to establish and build lasting ties
with the regional community. 


A Strategic Mineral

Both Mason Graphite and the Pessamit First Nation agree on the benefits of the
mining project for the entire region; not only for the health of the economy and
employment opportunities, but also for environmental protection. The process of
producing graphite by physical separation requires no chemicals and the mine is
expected to be considerably less invasive and will have a much smaller footprint
than typical mining operations. Graphite is non-toxic and is not considered a
pollutant, therefore the environmental effects of extracting and handling this
material are minimal. Natural graphite has numerous applications in industrial
refractories, notably in steel mills. It is also used in braking systems and in
various types of batteries, including lithium-ion batteries, for which demand is
growing by some 20% per year according to automotive industry estimates. This
makes it truly a strategic mineral. 


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 or
contact: Investor Relations info@masongraphite.com 


Head Office: 3030 Le Carrefour Blvd. Suite 600, Laval QC H7T 2P5

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.


Mason Graphite has not made a production decision. A decision to proceed with
production will be based on the results of a feasibility study demonstrating
economic and technical viability. All references herein with respect to
production and anticipated timelines for production assumes that Mason Graphite
will complete a feasibility study and that the results of such feasibility study
will be positive. The timing and results of such feasibility study are not
guaranteed and no inference should be made in this regard. 


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: 
For questions relating to the Pessamit community
and the cooperation agreement:
Jack Picard
418-567-8488
Cell: 418-445-0987
margot.vachon@pessamit.ca


For questions regarding the Lac Gueret project, Mason
Graphite, and the cooperation agreement:
Luc Veilleux
Executive Vice President and CFO
514-289-3582
lveilleux@masongraphite.com

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