First Canadian Graphite Announces Significant New Discovery at Lac Guéret South

Rhea-AI Summary

First Canadian Graphite (OTCQB:GRAPF) reported discovery of visible high-grade graphite at surface in Zone 13 at the Lac Guéret South project in Québec.

The occurrence lies within a previously unexplored EM conductor about 3.8 km long and up to 625 m wide, with a continuous conductor traced over 3,157 m. Field crews are mapping, sampling and defining drill targets, with assay results and bulk metallurgical tests pending.

Positive

• Visible high-grade graphite confirmed at surface in new Zone 13 area
• EM conductor target about 3.8 km long and up to 625 m wide
• Continuous conductor traced over 3,157 m strike with >100 m widths sampled
• Exploration covers a 167 km² Lac Guéret South land package
• Bulk samples to be tested for metallurgy and flotation characteristics

Negative

• Assay results from Zone 13 sampling are pending; grades not yet quantified
• Drill targets for Zone 13 are still being defined; no resource estimate yet

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Visible High-Grade Graphite Confirmed at Surface Within a 3.8km x 625m Greenfield Target

MONTREAL, QC / ACCESS Newswire / July 7, 2026 / First Canadian Graphite Inc. (TSXV:FCI)(OTCQB:GRAPF) ("FC graphite" or the "Company") announces the discovery of visible high-grade graphite at surface within Zone 13, a previously unexplored kilometre-scale electromagnetic ("EM") anomaly at its district-scale Lac Guéret South Project in Québec.

The newly confirmed graphite occurrence represents the first geological confirmation of mineralization within an EM conductor extending approximately 3.8 kilometres in length and up to 625 metres in width, highlighting the potential for a significant new graphite system beyond the Company's existing NI 43-101 mineral resource.

Field crews are currently mapping, sampling and tracing graphite-bearing outcrops along strike to determine the extent of the mineralized system while advancing drill target definition.

"This is one of the most exciting exploration developments we've seen on the property," said John LaGourgue, First Canadian Graphite CEO. "Not only have we confirmed visible graphite in a completely new exploration area, but we've done so within one of the largest untested conductors on the property. Combined with the scale of the anomaly and the success of our historical Zone 1 resource, we believe Zone 13 has the potential to become another major graphite discovery within the Lac Guéret District."

The discovery further demonstrates the exploration potential across First Canadian Graphite's 167 km² land package, one of the largest graphite claim positions in the Lac Guéret district.

Assay results from current field sampling are expected in the coming weeks and will assist in prioritizing drill targets for the next phase of exploration. Bulk samples will also be delivered to Corem for metallurgy and floatation characteristics testing.

Photographs of the graphite-bearing outcrops and field activities accompany this release and are available on the Company's website and social media channels.

Field Procedures

A seasoned exploration crew is currently executing a ground electromagnetic survey on Zone 13 using Beep Mat TM-8 instrumentation to delineate shallow conductors. Identified targets are being hand-excavated to expose graphitic outcrops for sampling.

The crew has successfully traced a continuous conductor over a 3,157m strike length, with sampling expanding across true or apparent widths greater than 100m. The survey is ongoing.Details on sample point locations and assay results will be provided in a timely manner.

Figure 1 - Typical sampling point on Zone 13

Figure 2 - Outcrop exposed on Zone 13

Figure 3 - Typical graphite-bearing area from Zone 13

The Company has filed an NI 43-101 Technical Report with a detailed Mineral Resource Estimate for the Lac Guéret South Project (formerly known as the Berkwood Project), dated June 19, 2019 and completed by independent experts Edward Lyons (Tekhne Resources), Florent Baril (Bumigeme), and Claude Duplessis (Goldminds Geoservices). For the full report and updates visit https://FCGraphite.com or under the Company's profile at the SEDAR website at https://SedarPlus.ca.

Qualified Person

The technical information in this news release has been reviewed and approved by Antoine Fournier, P.Geo., Vice President of Exploration for FG 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, FCI 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.

John LaGourgue, CEO & Director

For more information, contact:

info@FCGraphite.com
(604) 838-3376
https://fcgraphite.com/

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

FAQ

What did First Canadian Graphite (GRAPF) announce on July 7, 2026 at Lac Guéret South?

First Canadian Graphite announced discovery of visible high-grade graphite at surface in Zone 13 at its Lac Guéret South project. According to First Canadian Graphite, this is the first geological confirmation within a large, previously unexplored EM conductor measuring about 3.8 km by 625 m.

How large is the new graphite target discovered by First Canadian Graphite (GRAPF) in Zone 13?

The new graphite target in Zone 13 is associated with an EM conductor about 3.8 km long and up to 625 m wide. According to First Canadian Graphite, crews have traced a continuous conductor over 3,157 m with sampling across widths greater than 100 m.

What exploration work is underway at First Canadian Graphite’s Lac Guéret South Zone 13?

Exploration crews are mapping, sampling and tracing graphite-bearing outcrops while running ground electromagnetic surveys with Beep Mat TM-8 equipment. According to First Canadian Graphite, identified conductors are hand-excavated to expose graphitic outcrops for sampling and to help define future drill targets in Zone 13.

When are assay results expected from First Canadian Graphite’s Zone 13 discovery at Lac Guéret South?

Assay results from current Zone 13 field sampling are expected in the coming weeks. According to First Canadian Graphite, these assays will help prioritize drill targets for the next exploration phase, alongside bulk samples being sent to Corem for metallurgy and flotation testing.

How does the Zone 13 discovery relate to First Canadian Graphite’s existing Lac Guéret South resource?

Zone 13 lies beyond the company’s existing NI 43-101 mineral resource at Lac Guéret South. According to First Canadian Graphite, the new discovery suggests additional exploration potential across its 167 km² land package, which already hosts a historical Zone 1 resource and a detailed 2019 technical report.

Who is the qualified person for First Canadian Graphite’s Lac Guéret South technical information?

Antoine Fournier, P.Geo., Vice President of Exploration, is the qualified person for this technical information. According to First Canadian Graphite, he reviewed and approved the exploration details in line with National Instrument 43-101 standards for mineral project disclosure.