Strike Graphite Announces Termination of Property Agreements

October 24, 2013, Vancouver, BC - Strike Graphite Corp. (TSX-V: SRK) (the

“Company”) announces it has received a termination notice from Zimtu Capital Corp. and 877384 Alberta Ltd. effective October 22, 2013, terminating the Option Agreement on the Deep Bay East and Simon Lake graphite properties (the “Graphite Properties”), dated September 1, 2011 as amended November 19, 2012 (the “Agreement”). While the Company attempted in earnest to negotiate alternative arrangements with respect to its obligations under the Agreement, it was not successful, and has failed to fulfill the payments and commitments required under the Agreement. The Company has determined to abandon the Graphite Properties.

The Company also announces it has received a termination notice from Excellon Resources Inc. effective October 21, 2013, terminating the Option Agreement (the “Satterly Lake Agreement”) on the Satterly Lake property (the “Satterly Lake Property”) dated December 1, 2010. The Company’s subsidiary, Strike Gold Corp., failed to fulfill the option payments and commitments under the Satterly Lake Agreement and it was unsuccessful in negotiating new terms. The Company has therefore determined to abandon the Satterly Lake Property as well.

As a result of these terminations, the Company will focus its efforts on its remaining Wagon Project located in Quebec, Canada. The Company also continues to evaluate new property acquisitions and transactions that will add potential shareholder value to the Company.

ON BEHALF OF THE BOARD Geoff Balderson Chief Executive Officer

For more information, please visit the Company’s website at www.strikegraphite.com or contact:

Telephone: 604.602.0001 Fax: 604.488.0886 Email: [email protected]

We seek safe harbor.

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