Graphite One Resources Inc. announced that its Graphite One (Alaska) Inc. have executed a purchase and sale agreement with Ronald C. Sheardown for 28 Alaska state mining claims covering the same lands as the 28 Alaska state mining claims acquired by G1 Alaska in January 2012. As part of terms of the agreement, the company agreeing to enter into an advisory board agreement with Mr. Sheardown to retain him on the company's advisory board for a term of 3 years. Mr. Sheardown is the President of Greatland Exploration Ltd.