First Canadian Graphite Completes Phase II Airborne Survey

First Canadian Graphite Inc. has completed its Phase II Prospectair airborne magnetic and electromagnetic (Mag-EM) survey at the Lac Guéret South Graphite Project in Quebec. The 1,269 line-kilometre survey identified multiple strong conductors extending several kilometres, effectively expanding the known Zone 13 graphite occurrence into a district-scale conductive system.

Key structural interpretations include a Z-shaped fold pattern and a prominent fold nose south of Zone 13, which are now designated as priority drill targets. Historical sampling at Zone 13 previously returned 14 of 46 samples with over 20% graphitic carbon (Cg), with grades up to 43.4% Cg.

The company is preparing for Phase III exploration, which includes mechanized exploration, trenching, and diamond drilling scheduled for fall 2026, pending receipt of the Authorization for Impact-Causing Exploration Work (ATI) from Quebec's Ministry of Natural Resources and Forests. The goal of Phase III is to prove up an NI 43-101 compliant Mineral Resource Estimate (MRE). The project land position exceeds 200 km², with over $10 million invested to date.

First Canadian Graphite Inc. (FCI) released a follow-up to its May 2026 airborne survey results and the July and August 2026 ground-truthing programs that confirmed the Zone 13 discovery. The company’s exploration program has progressed methodically, beginning with a survey launch and land expansion in January 2026, followed by airborne results in May 2026. Field mobilization occurred in June 2026, leading to the Zone 13 discovery and option close in July 2026. In August 2026, the company determined Zone 13 dimensions and initiated metallurgy studies, and completed the Phase II survey in September 2026.

The Phase II results validate the company's exploration thesis and confirm that the drill targets identified in previous releases are geologically sound. This update does not introduce new capital, change the project's economic profile, or alter the strategic timeline. It confirms the execution of the planned exploration program and sets the stage for the anticipated fall drilling campaign.

First Canadian Graphite Inc. (FCI) is a pre-revenue junior exploration company focused on the Lac Guéret South Graphite Project in Quebec's Côte-Nord region. The project is strategically located approximately 234 km north-northwest of Baie-Comeau, bordering Nouveau Monde Graphite's Uatnan Project, placing it within a highly prospective graphite district. The company's land package exceeds 200 km², making it one of the largest claim positions in the region.

Historical NI 43-101 resources at Zone 1 include 1.76 million tonnes indicated at 17% Cg and 1.53 million tonnes inferred at 16.4% Cg. The newly discovered Zone 13 has been confirmed over a 3.3 km strike length with widths exceeding 150 meters, featuring high-grade surface samples up to 43.4% Cg. The company is advancing toward a Preliminary Economic Assessment (PEA) targeted for 2027/2028, with a goal of moving toward small-scale concentrate production.