Star Metro - First Canadian Graphite Completes Phase II Airborne Survey

MONTRÉAL, QC / ACCESS Newswire / September 22, 2026 / First Canadian Graphite Inc. (TSXV:FCI)(OTCQB:GRAPF) ("FC graphite" or the "Company") has reported results from its completed 1,269 line-kilometre Phase II Prospectair airborne magnetic and electromagnetic ("Mag-EM") survey at the Lac Guéret South Graphite Project in Québec's Côte-Nord region commissioned by Gatineau-based Prospectair.

Zone 13 Expands into a District-Scale Conductive System

Phase II has outlined multiple strong conductors extending for several kilometres across the property.

Highlights include:

• conductive trends extending east, north and northwest beyond the original Zone 13 footprint; an interpreted Z-shaped fold pattern, including a prominent fold nose south of Zone 13; previously reported Zone 13 sampling in which 14 of 46 samples returned more than 20% Cg, with grades up to 43.4% Cg (see the Company's news releases dated July 30, 2026 and August 20, 2026); and multiple priority drill targets where conductors appear to converge, repeat or broaden.

The results support a working model in which Zone 13 may form part of a broader district-scale graphite system, rather than an isolated occurrence.

Of particular interest is the interpreted southern fold nose, where strong conductivity, structural complexity and high-grade graphite mineralization occur in close proximity (see Figure 1). If confirmed by drilling, the folding could result in repetition or local thickening of favourable graphite-bearing horizons.

"Phase II has expanded Zone 13 into a multi-kilometre conductive system with several priority drill targets, including a prominent southern fold nose near samples grading up to 43.4% Cg," said John LaGourgue, FC graphite's President and CEO. "The 50-metre infill survey has provided better definition of the structure, which will help us plan our next step: a Phase III exploration plan assaying new conductors, along with stripping and channel sampling, to further derisk our drilling plan."

"As soon as we receive our Authorization for Impact-Causing Exploration Work, which we recently filed with the Ministère des Ressources naturelles et des Forêts, we can begin Phase III, which will include mechanized exploration, trenching and diamond drilling, and is set for this fall. Shortly after that, we anticipate beginning a comprehensive drill program with the intention of proving up an NI 43-101 compliant Mineral Resource Estimate (MRE)."

At Zone 13, high-grade graphite mineralization is exposed at surface along a multi-kilometre conductive trend, providing a potentially favourable starting point for evaluating a near-surface, open-pit development concept should future drilling establish sufficient width, continuity and tonnage.

Significantly, Lac Guéret South shares claim boundaries with Nouveau Monde Graphite's Uatnan Project, placing the project within a potential high-grade graphite district. The Company believes the property is comparable in geological and regional in nature.

The historical estimates noted herein are not considered a current mineral resource or mineral reserve, and sufficient work has not been completed by the Qualified Person to classify the historical estimate as a current mineral resource or mineral reserve, if such is the case under National Instrument 43-101 - Standards of Disclosure for Mineral Projects. The Company has never updated this estimate and has no plan to do so in the future, potential for additional resources is believed to be limited along strike and depth.

Previous management filed a NI 43-101 Technical Report dated June 19 2019, with a detailed Mineral Resource Estimate for the Lac Guéret South Project (formerly known as the Berkwood Project) 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.

Next Steps

The Company is integrating the final Prospectair data with surface geology, sampling and structural interpretation to finalize drill targets. Priority targets include Zone 13 and its extensions, the interpreted southern fold nose, the possible Z-fold structure, and newly identified eastern and northern conductors.

The planned drilling program will test the geological source of the conductors, graphite grades, true mineralized widths and continuity at depth.

News Release Reference

The Zone 13 sampling results referenced above were previously reported by First Canadian Graphite Inc. in its July 30, 2026, news release entitled "First Canadian Graphite Reports High-Grade Graphite Prospecting Results up to 43.4% Cg at Lac Guéret South Project." That release reported that more than 30% of the samples (14 of 46) returned graphitic carbon grades above 20%. For full details of the press release 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, 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 the Berkwood Project) borders Nouveau Monde Graphite's Uatnan graphite project in the southwest Manicouagan reservoir area, approximately 234 km north-northwest of Baie-Comeau in Québec's Côte-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 km and widths exceeding 150 m. Prospecting on this discovery has returned surface and near-surface high-grade graphite, with 46 samples assaying up to 43.4% graphitic carbon (Cg). Refer to the Company's press releases dated July 30, 2026 and August 20, 2026.

The Company's land claims and optioned ground now exceed 200 km², establishing one of the most extensive claim portfolios in the Lac Guéret 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 funding to continue advancing Lac Guéret South through 2026.

On Behalf of the Board of Directors
First Canadian Graphite Inc.

Signed:
John LaGourgue, CEO, President & 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

S.Belanger--SMC