First Canadian closes Quebec graphite option agreement

Mr. John LaGourgue reports PROPERTY OPTION AGREEMENT PRESS RELEASE CLOSING ISSUE SHARES First Canadian Graphite Inc. has received regulatory approval to the property option agreement dated July 15, 2026, and amended July 29, 2026, for the right to earn a 100-per-cent interest in 51 contiguous mining claims located in Northern Quebec. To earn a 100-per-cent interest, the company has agreed to pay $30,000 cash, issue an aggregate of 1.2 million common shares at a deemed price of 40 cents per share, and incur or finance $500,000 in exploration expenditures, as follows: Payment of $30,000 cash and issue 200,000 common shares on Toronto Stock Exchange approval; 250,000 common shares on or before the first anniversary; 300,000 common shares on or before the second anniversary; 450,000 common shares on or before the third anniversary; Incur a total of not less than $500,000 in exploration expenses by the third anniversary of the agreement. In addition, the company has agreed to pay the following milestone bonus payments (payable in cash and/or share equivalent at the company's discretion at a deemed value of 40 cents). Milestone achievement Bonus amount and terms Preliminary economic assessment (PEA) $100,000 Feasibility study $250,000 Commercial production $500,000 The securities to be issued pursuant to the agreement have been issued with the required four-month-plus-one-day hold period. About First Canadian Graphite Inc. First Canadian Graphite is engaged in the exploration of critical minerals and is committed to advancing its Lac Gueret South high-grade graphite property to support applications in energy transition and advanced technologies. The Lac Gueret South project (formerly the Berkwood project) borders Nouveau Monde Graphite's Uatnan graphite project in the southwest Manicouagan reservoir area, approximately 234 kilometres north-northwest of Baie-comeau in Quebec's Cote-Nord region, on the Nitassinan (ancestral territory) of the Pessamit Innu. Recent work at Zone 13 has outlined a significant new high-grade graphite-bearing anomaly with a confirmed strike length of 3.3 kilometres and widths exceeding 150 metres. prospecting on this discovery has returned surface and near-surface high-grade graphite, with 46 samples assaying up to 43.4 per cent graphitic carbon (Cg). The project also hosts a historical National Instrument 43-101 mineral resource at Zone 1 of 1.76 million tonnes indicated at 17 per cent Cg and 1.53 million tonnes inferred at 16.4 per cent Cg (NI 43-101 technical report mineral resource estimate). Multiple additional zones with surface graphite mineralization provide further strong exploration potential. The company's land claims and optioned ground now exceed 200 square kilometres, establishing one of the most extensive claim portfolios in the Lac Gueret graphite district. With more than $10-million invested to date and significant exploration upside remaining, First Canadian Graphite is focused on expanding resources and advancing the project toward a preliminary economic assessment (PEA). The company has sufficient financing to continue advancing Lac Gueret South through 2026.