First Canadian Graphite Reports High-Grade Graphite Prospecting Results up to 43.4% Cg at Lac Gueret South Project

MONTREAL, QC / ACCESS Newswire / July 30, 2026 / First Canadian Graphite Inc. (TSXV:FCI)(OTCQB:GRAPF) ("FC graphite" or the "Company")reports 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 () grades up to 43.4% Cg. Refer to Table 1 below. "We are extremely pleased with these initial results," stated John LaGourgue, First Canadian Graphite CEO. "We held high expectations for Zone 13 after evaluating preliminary airborne geophysical data, which led us to prioritize this target during ground truthing, and our expectations have been exceeded, with more than 30% of the samples (14 of 46) showing graphitic carbon grades above 20%. Zone 13 is now officially a significant new discovery, and we intend to follow up as soon as possible on these encouraging results." 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 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). This authorization requires consultation with local communities and stakeholders to inform them of the work proposed, answer questions that may arise, and take notice of their concerns, if any. This process is based on a desire for transparency and the harmonious balance of land use. 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 , followed by induction furnace / infrared (IR) absorption analysis on the residue to determine graphitic carbon content (). Qualified Person The technical information in this news release has been reviewed and approved by Antoine Fournier, M.Sc., géo, Vice President Exploration for FC graphite and a Qualified Person under National Instrument 43-101 - Standards of Disclosure for Mineral Projects. About FC graphite FC graphite is engaged in the exploration of critical minerals and is committed to advancing its Lac Guéret South high-grade graphite property to support applications in energy transition and advanced technologies. 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: 1.76 million tonnes indicated at 17% Cg and 1.53 million 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. Pessamit Innu First Nation Engagement 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. On Behalf of the Board of Directors First Canadian Graphite Inc. Signed: John LaGourgue, CEO, President and Director For more information, contact: [email protected] (604) 838-3376 https://fcgraphite.com/ Cautionary Note Regarding Forward-Looking Information This news release contains "forward-looking information" within the meaning of the applicable Canadian securities legislation that is based on expectations, estimates, projections and interpretations as at the date of this news release. The information in this news release about the Company; and any other information herein that is not a historical fact may be "forward-looking information" ("FLI"). All statements, other than statements of historical fact, are FLI and can be identified by the use of statements that include words such as "anticipates", "plans", "continues", "estimates", "expects", "may", "will", "projects", "predicts", "proposes", "potential", "target", "implement", "scheduled", "intends", "could", "might", "should", "believe" and similar words or expressions. FLI in this new release includes, but is not limited to the Company's ability to successfully fund, or remain fully funded for the implementation of its business strategy and for exploration of any of its projects (including from the capital markets), and the expected timing of announcements in this regard. FLI involves known and unknown risks, assumptions and other factors that may cause actual results or performance to differ materially. The FLI in this news release reflects the Company's current views about future events, and while considered reasonable by the Company at this time are inherently subject to significant uncertainties and contingencies. Accordingly, there can be no certainty that they will accurately reflect actual results. Assumptions upon which such FLI is based include, without limitation: the Company's, ability to implement its overall business strategy and to fund, explore, advance and develop each of its projects, including results therefrom and timing thereof, the impact of increasing competition in the mineral exploration business, including the Company's competitive position in the industry, and general economic conditions, including in relation to currency controls and interest rate fluctuations. The FLI contained in this news release are expressly qualified in their entirety by this cautionary statement, the "Forward-Looking Statements" section contained in the Company's most recent management's discussion and analysis (MD&A), which is available on SEDAR plus at www.sedarplus.ca. All FLI in this news release are made as of the date of this news release. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on such forward-looking information. The Company does not undertake to update or revise any forward-looking information contained herein to reflect new events or circumstances, except as may be required by applicable securities laws. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this News Release. SOURCE: First Canadian Graphite Inc. View the original press release on ACCESS Newswire