Strike Closes Financing

February 9, 2012: Vancouver, BC - Strike Graphite Corp. (TSXv: SRK) (the “Company” or “Strike”) is pleased to announce that it has closed its private placement of 7,357,715 units at $0.175 per unit for total gross proceeds of $1,287,600. Each unit consists of one common share and one-half of one transferable share purchase warrant, each whole warrant exercisable into one common share for a period of two years at a price of $0.25 per share.

The Company paid a total of $114,986.26 in finder’s fees and issued a total of 657,064 share purchase warrants to such finders. Each finder’s warrant is exercisable into one common share of the Company for a period of two years at a price of $0.25 per share.

The securities issued under the placement are subject to hold periods expiring June 10, 2012.

Proceeds of the placement will be used for exploration and development of the Company’s graphite assets in Saskatchewan and for general working capital.

The Company also announces that it has granted, subject to TSX Venture Exchange acceptance, stock options to its directors, officers and consultants for the purchase of up to 200,000 common shares at a price of $0.25 per share for a period of two years.

ON BEHALF OF THE BOARD

Geoff Balderson, President

We seek safe harbor.

“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."