First Canadian Graphite Announces Significant New Discovery at Lac Gueret South

First Canadian Graphite Inc. (FCI) has confirmed visible high-grade graphite at the surface within Zone 13, a previously unexplored 3.8km x 625m greenfield target at its Lac Guéret South Project in Quebec. This discovery marks the first geological confirmation of mineralization within this specific electromagnetic (EM) conductor, validating prior geophysical surveys.

Field crews are actively mapping, sampling, and tracing graphite-bearing outcrops to define drill targets, with assay results from current sampling expected in the coming weeks. Bulk samples will be delivered to Corem for metallurgy and flotation testing to prioritize the next phase of exploration.

The company also reiterated its historical NI 43-101 resource for Zone 1, which includes 1.76 million tonnes indicated at 17% Cg and 1.53 million tonnes inferred at 16.4% Cg. Management confirmed that total investments exceed $10 million and that the company is sufficiently funded to advance the project throughout 2026, while a Preliminary Economic Assessment (PEA) remains in progress.

First Canadian Graphite Inc. (FCI) announced the discovery as a direct follow-up to the June 2026 mobilization of field crews targeting Zone 13. The company stated that the find serves as an expected incremental step in its planned exploration program rather than an unexpected market-moving event.

Surface confirmation of graphite within a large EM conductor significantly de-risks the geophysical targets and provides a foundation for the planned fall 2026 diamond drilling campaign. However, the news does not immediately alter the company's financial position, resource estimates, or valuation. The material impact will depend on upcoming assay results and whether Zone 13 can be converted into a new resource node.

The company noted that the results will assist in prioritizing drill targets, but the surface grab samples are preliminary and not representative of true project recovery or metallurgical yield.

First Canadian Graphite Inc. (FCI) is an exploration-stage company focused on the Lac Guéret South Project, formerly known as Berkwood, located in Quebec’s Côte-Nord region. The project encompasses a 167 km² land package, establishing it as one of the largest claim positions in the Lac Guéret Graphite District. It borders Nouveau Monde Graphite’s Uatnan project.

The flagship Zone 1 resource consists of high-grade, large-flake graphite. The company aims to expand the resource base district-wide and advance toward production. Infrastructure advantages include proximity to all-season roads, regional rail, and the deep-water Port de Baie-Comeau, positioning future production within approximately four hours of North American and international markets. The project is currently in the exploration and pre-development stage, with a preliminary economic assessment underway and environmental baseline studies planned for 2026.