Vancouver, British Columbia – January 18, 2013 – First Graphite Corp. (the “Company”) announces, further to its prior news release of December 20, 2012, that it has effected a consolidation of its common shares on the basis of 2 old shares for 1 new share and has changed its name to Desert Star Resources Ltd. The common shares of the Company will commence trading on a consolidated basis at open of market on Monday, January 21, 2013, under the trading symbol ’DSR’.

The consolidation was approved by shareholders by way of written consent and the consolidation and name change has also been accepted by the TSX Venture Exchange.

Each fractional share resulting from the consolidation that is less than 1/2 of a share will be cancelled and each fractional share that is at least 1/2 of a share will be rounded up to 1 whole share. The number of common shares entitled to be purchased pursuant to the terms of outstanding options and warrants and the per share exercise price for such shares will be adjusted accordingly, in accordance with the terms of the respective options and warrants.

A letter of transmittal will be mailed to registered shareholders, to be used by registered shareholders to exchange their current share certificates for certificates representing the consolidated number of shares in the capital of Desert Star Resources Ltd. No action is required by non-registered shareholders, who hold securities of the Company through an intermediary, to effect consolidation of their beneficially held securities.

For additional information, please contact:
Vince Sorace, President
Telephone: (604) 628- 5623

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.

THIS PRESS RELEASE, REQUIRED BY APPLICABLE CANADIAN LAWS, IS NOT FOR DISTRIBUTION TO U.S. NEWS SERVICES OR FOR DISSEMINATION IN THE UNITED STATES, AND DOES NOT CONSTITUTE AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO SELL ANY OF THE SECURITIES DESCRIBED HEREIN IN THE UNITED STATES. THESE SECURITIES HAVE NOT BEEN, AND WILL NOT BE, REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED, OR ANY STATE SECURITIES LAWS, AND MAY NOT BE OFFERED OR SOLD IN THE UNITED STATES OR TO U.S. PERSONS UNLESS REGISTERED OR EXEMPT THEREFROM.

Neither the 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 news release.