Announcement • Jun 22
Focus Graphite Files Ni 43-101 Technical Report with Updated Mineral Resource for Lac Tetepisca Project
Focus Graphite Inc. has filed the report on SEDAR+ for the upgraded mineral resource estimate on its 100%-owned Lac Tetepisca Project in Quebec. The Project lies within the Nitassinan (ancestral land) of the Pessamit Innu First Nation of Betsiamites, Quebec. The mineral resource estimate was completed pursuant to the requirements of National Instrument 43-101 - Standards of Disclosure for Mineral Projects. This new mineral resource estimate includes 120,163,000 tonnes of Indicated resource at 10.27% graphitic carbon and 24,143,000 tonnes of Inferred resource at 9.88% graphitic carbon, containing an estimated 14,731,000 tonnes of in-situ graphite. Estimates were calculated based on a conservative 3.5% graphitic carbon cut-off grade and USD 1,200 per tonne average selling price for the flake concentrate. Significant expansion potential exists through step-out and infill drilling to extend the deposit to the southwest and at greater depths, plus drill testing of numerous other geophysical anomalies. Novel, low-cost AI enabled in situ graphite flake characterization technology is expected to be incorporated into a future mineral resource update. Acid generation mitigation materials from the dolomitic marbles hanging wall are included in the resource shell. They could be used to mitigate acid generation from the tailings storage facility. Their acid buffering capacity is to be published in the upcoming months. There are no material changes in the updated report from the results disclosed on the Company's May 07, 2026 press release. IOS Geosciences Inc. was retained to produce a mineral resource estimate update and prepare a technical report. The mineral resource estimate update was completed by IOS, using results from 150 drill holes totalling 26,095 metres, and including 2022 campaign results recently reported and totalling 9,628 metres from 44 drill holes. The mineral resource estimate update for the Project is based on 150 inclined and sub-vertical diamond drill holes performed between 2014 and 2022 on the Manicouagan-Ouest Graphitic Corridor and South-West Manicouagan-Ouest Graphitic Corridor graphite prospect, totalling 26,095 metres. Focus discovered the Manicouagan-Ouest Graphitic Corridor prospect in July 2012 while conducting reconnaissance geological mapping, prospecting, and trenching on the Property. The Manicouagan-Ouest Graphitic Corridor is defined by a 2-kilometre linear Magnetic and Electromagnetic anomaly that trends N035°. Drilling was conducted on a 1.5 km long segment of the Manicouagan-Ouest Graphitic Corridor following 300 m long drilling lines oriented N305° and spaced 100 m, 50 m, or 25 m apart. Mineral resources were classified as Indicated and Inferred. Indicated resources are defined with a minimum of three drill holes in areas where the closest composite is situated less than 90 m away from the block centroid and Inferred resources with two drill holes in areas where the closest composite is situated less than 135 m away from block centroids and there is reasonable geological and grade continuity. The mineral resource estimate is pit constrained. There are no out-pit resources meeting the reasonable prospects for eventual economic extraction requirement. The reasonable prospects for eventual economic extraction requirement is satisfied by applying a cut-off grade based on reasonable economic parameters and constraining volumes. The potential open pit of the 2026 mineral resource estimate is locally constrained by a surface optimized with the pseudo-flow algorithm in Deswik using a cut-off grade of 3.5% graphitic carbon. The following parameters were considered: mining cost = CAD 6.00 per tonne mined; processing cost = CAD 35.00 per tonne processed; G&A cost = CAD 10.00 per tonne processed; concentrate transportation cost = CAD 200 per tonne concentrate; graphitic carbon Price = USD 1,200 per tonne concentrate; CAD/USD exchange rate = 1.38; overburden slope angle = 25°; rock slope angle = 50°; concentrator recovery = 86.6%, concentrate grade = 96.4%. The number of metric tonnes was rounded to the nearest thousand, following the recommendations in NI 43-101. The metal contents are presented in tonnes rounded to the nearest thousand. Any discrepancies in the totals are due to rounding effects. The qualified persons are not aware of any known environmental, permitting, legal, title-related, taxation, socio-political, or marketing issues or any other relevant issue not reported in the Technical Report that could materially affect the Mineral Resources Estimate. No mineral reserves have been established for the Lac Tetepisca Project. Focus intends to advance the next phase of technical development at Lac Tetepisca, including metallurgical optimization, process flowsheet development, and engineering studies. These initiatives are expected to support advancement toward a Preliminary Economic Assessment and help quantify the economic potential of one of the largest identified graphite deposits globally. Together with the Company's Lac Knife Project and downstream technology initiatives, Lac Tetepisca forms a key component of Focus' strategy to build an integrated Canadian graphite and advanced materials platform serving North American and allied supply chains. The technical content disclosed in this news release was reviewed and approved by Rejean Girard, President of IOS Geosciences Inc., a consultant to the Company, and a qualified person as defined under National Instrument NI 43-101.
