Crystal Graphite Corporation: Approved for Trading on CNQ - Canadian Trading and Quotation System Inc.

Business Editors

VANCOUVER, British Columbia--(BUSINESS WIRE)--Feb. 9, 2004

Crystal Graphite Corporation (OTCBB: CYTGF) (CNQ: CYTG)...is pleased to announce that he common shares of the company have been approved for quotation on the Canadian Trading and Quotation System Inc. (CNQ) effective Monday February 9, 2004 market opening. The shares will be quoted under the symbol (CYTG). Market data and corporate information will be available on www.cnq.ca.

Crystal Graphite Corporation has completed the capital Phase One Expansion at its Koch Creek processing plant on 27 January 2004 and is now primarily producing high purity graphite at fuel cell type quality. Also being produced are two by-products, which include high purity +50 mesh large flakes and a fine product of -150 mesh. All products are dry and free of oils with use of its new dryer system which includes filter conveyors, squeeze processing, a rotary dryer, and an electric vertical hearth dryer.

The Phase One Expansion increases the production rate and productivity, and quality of its products. Improvements have been made to the raw product storage and feed system, water recycling and quality, drying, screening and final product handling.

CGC personnel are presently targeting the production of 20 tonnes of high purity fuel cell type grade.followed with 20 tonnes of other products.

Phase One can double its production by later adding a second shift. Phase Two Expansion will be based on market demand although planning shall continue during Phase One.

About Crystal Graphite

Crystal Graphite has developed three high purity flake graphitic products (97% to 99.5% graphitic carbon). These products are produced at the company's processing facility, using graphitic material from the company's Black Crystal deposit near Nelson, British Columbia. One of the Company's target markets is the bi-polar plate manufacturing which is an integral component for the fuel cell industry.

This release contains "forward looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21B of the Securities Exchange Act of 1934. Any statements that express or involve discussions with respect to prediction, expectations, beliefs, plans, projections, objectives, goals, assumptions or future events or performance are not statements of historical fact and may be "forward looking statements." Forward looking statements are based on expectations, estimates and projections at the time the statements are made that involve a number of risks and uncertainties which could cause actual results or events to differ materially from those presently anticipated. Forward looking statements in this action may be identified through the use of words such as "expects", "will", "anticipates", "estimates", "believes", or statements indicating certain actions "may", "could" or "might" occur.

Shares Outstanding: 26,164,395

CUSIP #229248109