Focus Graphite files NI 43-101 report on Lac Tetepisca resource

One of the Largest Identified Graphite Deposits Globally with 120.2 Mt Indicated at 10.27% Cg and 24.1 Mt Inferred at 9.88% Cg, Containing 14.7 Mt of In-Situ Graphite Ottawa, Ontario--(Newsfile Corp. - June 22, 2026) - Focus Graphite Inc. (TSXV: FMS) (OTCQB: FCSMF) (FSE: FKC0) (" Focus " or the " Company "), a Canadian developer of high-grade flake graphite deposits and advanced graphite materials for battery, defence, and industrial applications, is pleased to announce that it has filed the report on SEDAR+ for the upgraded mineral resource estimate (" MRE ") on its 100%-owned Lac Tetepisca Project (the " Project ") in Quebec. The Project lies within the Nitassinan (ancestral land) of the Pessamit Innu First Nation of Betsiamites, Quebec. The MRE was completed pursuant to the requirements of National Instrument 43-101 - Standards of Disclosure for Mineral Projects (" NI 43-101 ").

Highlights One of the largest identified graphite deposits globally: This new mineral resource estimate includes 120.2 million tonnes ("Mt") of Indicated resource at 10.27% graphitic carbon (" Cg ") and 24.1 Mt of Inferred resource at 9.88% Cg, containing an estimated 14.7 Mt of in-situ graphite (see table below for additional details regarding the calculation of the MRE and the average Cg grades for the Inferred Mineral Resources and Indicated Mineral Resources). High-Grade Mineral Resources . Estimates were calculated based on a conservative 3.5% Cg cut-off grade and US$1,200 per tonne average selling price for the flake concentrate.

Significant expansion potential through step-out and infill drilling to extend the deposit to the southwest and at greater depths, plus drill testing of numerous other geophysical anomalies. Novel, low-cost AI enabled in situ graphite flake characterization technology expected to be incorporated into a future MOGC mineral resource update. Acid generation mitigation materials from the dolomitic marbles hanging wall are included in the resource shell.

They could be used to mitigate acid generation from the tailings storage facility. Their acid buffering capacity is to be published in the upcoming months. There are no material changes in the updated report from the results disclosed on the Company's May 07, 2026 press release .

IOS Geosciences Inc. (" IOS "), a leading Quebec-based geological consulting firm was retained to produce a mineral resource estimate update and prepare a technical report (the "Technical Report"). The Technical Report is available on the Company's website and on the Company's SEDAR+ profile at http://www.sedarplus.ca . The MRE update was completed by IOS, using results from 150 drill holes totalling 26,095 metres, and including 2022 campaign results recently reported and totalling 9,628 metres from 44 drill holes.

The MRE update for the Project is based on 150 inclined and sub-vertical diamond drill holes performed between 2014 and 2022 on the Manicouagan-Ouest Graphitic Corridor (" MOGC ") and South-West MOGC (" SW-MOGC" ) graphite prospect, totalling of 26,095 metres. Focus discovered the MOGC prospect in July 2012 while conducting reconnaissance geological mapping, prospecting, and trenching on the Property. The MOGC is defined by a 2-kilometre linear Magnetic (MAG) and Electromagnetic (EM) anomaly that trends N035°.

Drilling was conducted on a 1.5 km long segment of the MOGC following 300 m long drilling lines oriented N305° and spaced 100 m, 50 m, or 25 m apart.   * See notes 1,2,3,4,5,6,7,8,9,10,11,12,13,14,15 Notes These mineral resources are not mineral reserves as they do not have demonstrated economic viability. The MRE follows current CIM Definition Standards (2014) and CIM MRMR Best Practice Guidelines (2019). A technical report supporting the MRE will be filed within 45 days in accordance with NI 43-101.

The results are presented undiluted and are considered to have reasonable prospects for eventual economic extraction ("RPEEE"). The independent and qualified persons ("QPs") for the mineral resource estimate, as defined in NI 43-101, are Jean-Michel Dubé, P.Geo. from IOS Geosciences and Alexandre Burelle, P.Eng., from Evomine Consulting. The effective date is April 30th, 2026.

The estimate includes four (5) variably mineralized domains and one (1) dilution envelope modeled using LeapFrog Geo and interpolated using LeapFrog Edge. 2.0 m composites were calculated within the mineralized zones using the grade of the adjacent material when assayed or a value of zero when not assayed. High-grade capping on composites (supported by statistical analysis) was set at 27% Cg in the MOGC zone and 8.5% Cg in the SW-MOGC zone. Outlier capping restriction was set at 16% Cg for composites in the MOGC zone that are situated further than 50% the maximum interpolation distances.

The estimate was completed using a rotated block model (N030°) in Leapfrog Edge, with a parent block size of 5m x 10m x 5m (X, Y, Z) and a sub-block size of 2.5m x 5m x 2.5m (X, Y, Z). Grade interpolation was obtained by Inverse Distance Squared (ID2) methodology using hard boundaries. Density values are interpolated and blocks that are not interpolated were assigned their lithology average value.

Mineral resources were classified as Indicated and Inferred. Indicated resources are defined with a minimum of three (3) drill holes in areas where the closest composite is situated less than 90 m away from the block centroid and Inferred resources with two (2) drill holes in areas where the closest composite is situated less than 135 m away from block centroids and there is reasonable geological and grade continuity. It is the QP's opinion that the current classification used is adequate and reliable for this ‎type of mineralization and mineral resource estimate.‎ The MRE is pit constrained.

There are no out-pit resources meeting the RPEEE requirement. The RPEEE requirement is satisfied by applying a cut-off grade based on reasonable economic parameters and constraining volumes. The potential open pit (OP) of the 2026 MRE is locally constrained by a surface optimized with the pseudo-flow algorithm in Deswik using a cut-off grade of 3.5%Cg.

The following parameters were considered: mining cost = CA$6.00/t mined; processing cost = CA$35.00/t processed; G&A cost = CA$10.00/t processed; concentrate transportation cost = CA$200/t conc.; Cg Price = US$1,200/t conc.; CAD/USD exchange rate = 1.38; overburden slope angle = 25°; rock slope angle = 50°; concentrator recovery = 86.6%, concentrate grade = 96.4%. The number of metric tonnes was rounded to the nearest thousand, following the recommendations in NI 43-101. The metal contents are presented in tonnes (tonnes x grade) rounded to the nearest thousand.

Any discrepancies in the totals are due to rounding effects. The QPs are not aware of any known environmental, permitting, legal, title-related, taxation, socio-political, or marketing issues or any other relevant issue not reported in the Technical Report that could materially affect the Mineral Resources Estimate. No mineral reserves have been established for the Lac Tetepisca Project.

"This updated resource estimate represents a major milestone for Focus Graphite and further validates Lac Tetepisca as one of the largest identified graphite deposits globally," said Dean Hanisch, Chief Executive Officer of Focus Graphite. "With approximately 14.7 million tonnes of contained in-situ graphite, the Project combines exceptional scale with a high-grade resource profile and remains open for expansion both along strike and at depth. The current resource is based on only a portion of the broader mineralized system, highlighting the significant opportunity for future growth through additional exploration and resource definition.

With this important resource update now complete, our focus will shift toward advancing metallurgical optimization, process flowsheet development, and engineering studies designed to further unlock and quantify the value of the Project. We believe these initiatives will help position Lac Tetepisca for advancement toward a Preliminary Economic Assessment over the coming year and further demonstrate its potential to become a strategically important source of graphite supply for North America and its allies." Next Steps With the updated MRE now complete, Focus intends to advance the next phase of technical development at Lac Tetepisca, including metallurgical optimization, process flowsheet development, and engineering studies. These initiatives are expected to support advancement toward a Preliminary Economic Assessment (" PEA ") and help quantify the economic potential of one of the largest identified graphite deposits globally.

Together with the Company's Lac Knife Project and downstream technology initiatives, Lac Tetepisca forms a key component of Focus' strategy to build an integrated Canadian graphite and advanced materials platform serving North American and allied supply chains. Qualified Person The technical content disclosed in this news release was reviewed and approved by Rejean Girard, P.Geo (Qc), President of IOS Geosciences Inc., a consultant to the Company, and a qualified person as defined under National Instrument NI 43-101. About Focus Graphite Advanced Materials Inc. Focus Graphite Advanced Materials is redefining the future of critical minerals with two 100% owned world-class graphite projects and cutting-edge battery technology.

Our flagship Lac Knife project stands as one of the most advanced highest-purity graphite deposits in North America, with a fully completed feasibility study and near-completed environmental assessment study. Lac Knife is set to become a key supplier for the battery, defence, and advanced materials industries. Our Lac Tetepisca project further strengthens our portfolio, with the potential to be one of the largest and highest-purity and highest-grade graphite deposits in North America.

Graphite mineralization at Lac Tetepisca is very similar to that of Lac Knife, forecasting similar behaviour in the concentration and purification processes. At Focus, we go beyond mining - we are pioneering environmentally sustainable processing solutions and innovative battery technologies, including our patent-pending silicon-enhanced spheroidized graphite, designed to enhance battery performance and efficiency. Our commitment to innovation ensures an eco-friendly supply chain from mine to market.

Collaboration is at the core of our vision. We actively partner with industry leaders, research institutions, and government agencies to accelerate the commercialization of next-generation graphite materials. As a North American company, we are dedicated to securing a resilient, locally sourced supply of critical minerals - reducing dependence on foreign-controlled markets and driving the transition to a sustainable future.

For more information on Focus Graphite Inc. please visit http://www.focusgraphite.com LinkedIn: https://www.linkedin.com/company/focus-graphite/ Facebook: https://www.facebook.com/focusgraphite X: https://x.com/focusgraphite Investors Contact: Dean Hanisch CEO, Focus Graphite Inc. dhanisch@focusgraphite.com +1 (613) 612-6060 Jason Latkowcer VP Corporate Development jlatkowcer@focusgraphite.com Cautionary Note Regarding Forward-Looking Statements Certain statements contained in this press release constitute forward-looking information. These statements relate to future events or future performance. The use of any of the words "could," "intend," "expect," "believe," "will," "projected," "estimated," and similar expressions, as well as statements relating to matters that are not historical facts, are intended to identify forward-looking information and are based on the Company's current beliefs or assumptions as to the outcome and timing of such future events.

In particular, this press release contains forward-looking information regarding, among other things, the results and implications of the updated mineral resource estimate for the Lac Tetepisca Project; the potential for expansion of the mineral resources through additional exploration, step-out and infill drilling programs; the potential for future mineral resource estimate updates; the incorporation of AI-enabled in-situ graphite flake characterization technology into future mineral resource estimates; the publication of acid-buffering capacity test results and the potential use of dolomitic marble material for acid generation mitigation; the advancement of metallurgical optimization, process flowsheet development, engineering studies, and other technical work programs; the advancement of the Project toward a Preliminary Economic Assessment; the potential economic significance of the Project; the future development of the Lac Tetepisca Project and its potential to become a strategically important source of graphite supply for North America and allied jurisdictions; the Company's strategy of developing an integrated Canadian graphite and advanced materials platform through the advancement of its Lac Tetepisca and Lac Knife projects and downstream technology initiatives; and the Company's plans to further evaluate and advance the Project through exploration, metallurgical testing, engineering studies, economic assessments, permitting activities, and downstream processing opportunities. Forward-looking statements are subject to known and unknown risks, uncertainties, and other factors that may cause actual results, performance, or achievements to differ materially from those expressed or implied by such statements. These risks and uncertainties include, but are not limited to, risks related to market conditions, regulatory approvals, changes in economic conditions, the ability to raise sufficient funds on acceptable terms or at all, operational risks associated with mineral exploration and development, and other risks detailed from time to time in the Company's public disclosure documents available under its profile on SEDAR+.

The forward-looking information contained in this release is made as of the date hereof, and the Company is not obligated to update or revise any forward-looking information, whether as a result of new information, future events, or otherwise, except as required by applicable securities laws. Because of the risks, uncertainties, and assumptions contained herein, investors should not place undue reliance on forward-looking information. Neither TSX Venture Exchange nor its Regulation Services accepts responsibility for the adequacy or accuracy of this release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/302318 Newsfile Corp. June 22, 2026 - 2:00 AM PDT News by QuoteMedia www.quotemedia.com