Property option closes

MONTREAL, QC / ACCESS Newswire / July 31, 2026 / First Canadian Graphite Inc. (TSXV:FCI)(OTCQB:GRAPF) ("FC graphite" or the "Company") 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% interest in 51 contiguous mining claims located in Northern Quebec. To earn a 100% interest, the Company has agreed to pay $30,000 cash, issue an aggregate of 1,200,000 common shares at a deemed price of Cdn. $0.40 per share, and incur or fund $500,000 in exploration expenditures, as follows: payment of $30,000 cash and issue 200,000 common shares on TSX 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; and 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 $0.40): The securities to be issued pursuant to the agreement have been issued with the required four months plus one day hold period. 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).

The Project also hosts a historical NI 43-101 mineral resource at Zone 1 of 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). Multiple additional zones with surface graphite mineralization provide further strong exploration potential. 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. 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 & 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 ACCESS Newswire July 31, 2026 - 2:00 PM PDT News by QuoteMedia www.quotemedia.com