VANCOUVER, BRITISH COLUMBIA–(May 9, 2012) – First Graphite Corp. (TSX VENTURE:FGR) (the “Company” or “First Graphite”) is pleased to announce that Geotech Ltd. has completed the Versatile Time-Domain Electromagnetic (VTEM) geophysical survey over the Company’s Henry Graphite Project (the “Property”). The VTEM survey over the property covered 1452 line kilometres, at 200-metre line spacing. The purpose of the survey, which was completed on May 6, 2012, was to confirm the historically identified graphite-bearing conductors, and to identify new targets for follow-up work.

First Graphite expects to receive preliminary survey results from Geotech Ltd. in the next couple of weeks, at which time it will provide further information. Preliminary and final data will be used by the Company to guide its ground exploration program which will consist of surface sampling, geological mapping and drilling. Interpretation of the final data will be conducted by Living Sky Geophysics Inc., of Saskatoon, Saskatchewan.

Henry Property

The Henry Property consists of six mineral claims covering approximately 22,853 hectares and is located 10 kilometres southwest of the community of Southend, Saskatchewan. Historical exploration suggests that the Property has potential to host a near-surface graphite deposit comprised of scarce, large-flake, high-purity graphite. It is situated within high-grade metamorphic rocks of a sedimentary origin which is an ideal setting for the development of these types of deposits.

The technical information in this news release has been reviewed on behalf of the Company by Neil McCallum, P.Geo., of Dahrouge Geological Consulting Ltd., a Qualified Person pursuant to National Instrument 43-101.

About Geotech Ltd.

Geotech has conducted airborne electromagnetic geophysical surveys for more than three decades using proprietary technology and has created a long history of notable innovations. Innovation is the secret to Geotech’s sustainability, making Geotech the longest running company to offer airborne electromagnetic surveying, world-wide. In the last decade Geotech introduced to the world the first helicopter-borne time domain EM system. The VTEM airborne EM system, with its superior S/N ratio, is still the industry standard, able to detect deep conductors that are “lost” in the noise of other TEM systems.

Graphite

Graphite is a polymer of carbon that comes in three naturally occurring forms – flake, amorphous, and lump. All three are found in metamorphic as well as igneous rocks, varying by grade, particle (mesh) size and moisture content. Graphite exhibits a number of characteristics, which make it a high value industrial mineral with a broad range of applications: it is an excellent conductor of heat and electricity, is resistant to strong acids and thermal shock, is a lubricant, is refractive and has the highest natural strength and stiffness of any known material.

The total worldwide graphite market is currently estimated to be US$12 billion. At present, the largest end use markets for graphite are the steel and automotive industries. However in recent years, emerging markets, including green energy development (fuel cells, solar energy and nuclear power) and batteries (lithium-ion and vanadium-redox) are creating the potential for incremental increases in demand. Meanwhile, the closure of a number of natural graphite mines in China, the world’s largest producer, is reducing world-wide supply.

About First Graphite

First Graphite Corp. is a Vancouver-based mineral exploration company focused on the development of graphite projects in Canada. The company currently has three graphite properties led by its flag ship project, the Henry Graphite Property, located near the Deep Bay Graphite Deposit in north-eastern Saskatchewan, Canada.

This news release contains certain statements that may be deemed “forward-looking statements. Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects”, “plans”, “anticipates”, “believes”, “intends”, “estimates”, “projects”, “potential” and similar expressions, or that events or conditions “will”, “would”, “may”, “could” or “should” occur. Although First Graphite Corp. believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or realities may differ materially from those in forward looking statements. Forward looking statements are based on the beliefs, estimates and opinions of First Graphite Corp.’s management on the date the statements are made. Except as required by law, First Graphite Corp. undertakes no obligation to update these forward-looking statements in the event that management’s beliefs, estimates or opinions, or other factors, should change.