Announcement • Aug 01

First Canadian Graphite Reports High-Grade Graphite Prospecting Results At Lac Guéret South Project

First Canadian Graphite Inc. reported assay results back from ALS Laboratories from its Phase I Beep Mat prospecting and sampling program on Zone 13 at its flagship Lac Guéret South Project in Québec’s Côte-Nord region. The prospecting results confirmed the presence of surface and near-surface high-grade graphite, with 46 samples assayed yielding graphitic carbon (Cg) grades up to 43.4% Cg. More than 30% of the samples (14 of 46) showed graphitic carbon grades above 20%. Phase I Exploration Summary: The Phase I program utilized a Beep Mat geophysical instrument to identify conductive zones near the surface where overburden is thin and outcrop exposure is otherwise poor. The instrument detects shallow subsurface conductors, allowing operators to systematically uncover small rock exposures and collect unbiased samples. The locations where the grab samples were taken, and their graphitic carbon grades, are summarized in the map and table below. Table 1 – Assay Results from Phase I Sample # Easting UTM Northing UTM Cg (%) L852601 501794 5654023 19.85 L852602 501970 5654034 2.17 L852603 502142 5654112 0.02 L852604 501737 5653668 0.56 L852605 501603 5653520 17.05 L852606 501508 5653405 20.20 L852607 500464 5652370 29.20 L852608 500515 5652304 25.10 L852609 500516 5652230 27.90 L852610 500479 5652272 5.93 L852611 500358 5652273 26.60 L852612 501818 5654138 7.88 L852613 500343 5652209 18.45 L852614 501963 5654187 26.20 L852615 502168 5654006 16.35 L852616 501917 5654412 7.83 L852617 502201 5654060 9.71 L852618 502231 5654002 1.95 L852619 502275 5654035 8.06 L852620 502214 5654142 6.92 L852621 502223 5654172 8.61 L852622 502193 5654312 42.30 L852623 502247 5654316 0.90 L852624 502248 5654412 10.50 L852625 502300 5654423 7.64 L852626 501309 5650175 1.64 L852627 502500 5654243 2.81 L852628 502480 5654290 5.60 L852629 502513 5654311 11.95 L852630 502569 5654320 12.10 L852631 502520 5654372 7.06 L852632 502497 5654401 13.50 L852633 502527 5654453 15.20 L852634 501333 5650539 0.03 L852635 501433 5650493 13.30 L852636 501400 5650614 32.00 L852637 501391 5650599 41.90 L852638 502561 5654420 3.79 L852639 502673 5654360 26.00 L852640 502592 5654466 7.67 L852641 505674 5654420 15.35 L852642 502657 5654537 17.00 L852643 501621 5650645 43.40 L852644 501625 5650635 27.90 L852645 501683 5650646 23.40 L852646 501678 5650662 30.20 * Nad 83 – Zone 19U. Next Steps & Phase II Exploration: The Company is in the final stages of preparing for its Phase II program, which will include completing Beep Mat prospecting across the remainder of Zone 13, initiating Beep Mat surveying on Zone 6 to trace conductor extensions west of the main zone, conducting additional outcrop sampling at the Esbec occurrence, and executing due diligence site visits to Zones 3 and 4. Authorization for Impact Exploration Work (ATI): In light of these results, the Company has elected to initiate the process for obtaining an Authorization for Impact Exploration Work (ATI). Quality Assurance /Quality Control (QA/QC) & Sampling Protocol: Field sampling protocols required two rock samples to be collected at each site: one for assaying and one witness sample retained for reference. Samples were delivered directly by company personnel to ALS Laboratories in Val-d’Or, Québec. Samples were crushed to 70% passing 2 mm, split with a riffle splitter to 250 g, and pulverized to better than 85% passing 75 microns. A 5 g split was treated with 25% ???????????? at elevated temperatures to drive off carbonate as ????????2, followed by induction furnace /infrared (IR) absorption analysis on the residue to determine graphitic carbon content (????????). The Lac Guéret South Project, formerly known as the Berkwood Project, borders Nouveau Monde Graphite's Uatnan graphite project in the southwest Manicouagan reservoir area, 234 km north-northwest of Baie-Comeau, in the Côte-Nord administrative region of Québec on the Nitassinan (ancestral territory) of the Pessamit Innu. Lac Guéret South features surface-exposed graphite and a historical NI 43-101 compliant resource at Zone 1 containing: 1,760,000 tonnes indicated at 17% Cg and 1,530,000 tonnes inferred at 16.4% Cg (NI 43-101 Technical Report Mineral Resource Estimate). The property also features several other zones with surface graphite samples, offering strong exploration potential. In early 2026, the Company increased its land holdings to 167 km², establishing one of the most extensive claim portfolios within the Lac Guéret Graphite District. With substantial exploration opportunities remaining and total investments exceeding $10 million, FC graphite is actively engaged in expanding its resources and advancing toward the completion of its Preliminary Economic Assessment (PEA). The Company possesses sufficient funding to further advance this project throughout 2026. FC graphite formally acknowledges that the Lac Guéret South Project is situated within the Nitassinan (ancestral territory) of the Pessamit Innu First Nation. The Company remains dedicated to cultivating respectful, transparent, and cooperative relationships with local Indigenous communities at every stage of the project's development.

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