First Canadian Graphite Completes Phase I Exploration on Zone 13 Discovery and Expands Lands Package

First Canadian Graphite Inc. (FCI) has completed Phase I exploration at the new Zone 13 discovery on its Lac Guéret South Project, confirming graphite mineralization over a 3.3 km strike length within a previously untested kilometre-scale electromagnetic conductor. The company collected 46 grab samples from Zone 13 and submitted them to ALS Global for expedited assaying, with results expected in the coming weeks.

Additionally, FCI entered into an option agreement to acquire 51 contiguous mining claims to the north, which will increase the total land package to 2,707.21 hectares upon full exercise. The earn-in requirements for the option include $30,000 cash, the issuance of 1,200,000 common shares at a deemed price of $0.40 CAD, and $500,000 in exploration expenditures by the third anniversary. Milestone bonus payments are structured at $100,000 for a PEA, $250,000 for a Feasibility Study, and $500,000 upon Commercial Production.

Phase II exploration is scheduled for early August 2026, followed by a planned diamond drilling campaign in late fall 2026.

First Canadian Graphite Inc. (FCI) announced a standard progression of its 2026 exploration program, following the May airborne survey results and June mobilization announcements. The company confirmed surface graphite over a 3.3 km strike length, a finding that validates geophysical targets but does not yet provide drill results or assay grades.

The announcement includes a land option that expands the project footprint. This move introduces future share dilution of 1.2 million shares and cash outlays tied to specific milestones. The disclosure aligns with management's stated timeline and builds momentum toward the critical fall drilling campaign, though it lacks the immediate catalyst required to move the stock materially.

Prior-period context not disclosed in today's release indicates the company had sufficient funding to advance exploration throughout 2026. This financial backing was supported by $2.8 million and $1.025 million financings closed in early 2026.

First Canadian Graphite Inc. 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 that borders Nouveau Monde Graphite's Uatnan project.

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 company aims to 10x the current resource and advance toward production, leveraging Quebec's mining-friendly jurisdiction, hydroelectric power, and proximity to the Port de Baie-Comeau.

Metallurgical testing by partner Volt Carbon Technologies has shown high graphitic carbon content and favorable large-flake distribution using a proprietary dry air classification process.