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

* 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.