Mr. Thomas Yingling reports

FIRST CANADIAN GRAPHITE INC. ANNOUNCES CLOSING FINANCING - $2,768,100.00

Further to the release dated Jan. 26, 2026, First Canadian Graphite Inc. has closed its private placement offering as to 9,227,000 units at 30 cents for gross proceeds of $2,768,100 (oversubscribed as to $168,100). Each unit shall be composed of one common share and one-half warrant. Each whole warrant will entitle the holder to purchase one common share exercisable at 50 cents for two years.

The gross proceeds from the financing will be for general working capital and an exploration and drill program on the company's Berkwood graphite project located in Northern Quebec. The company will update shareholders as progress evolves. While the company intends to spend the proceeds from the financing as stated above, there may be circumstances where, for sound business reasons, funds may be reallocated at the discretion of the board.

Three insiders of the company subscribed for an aggregate of 270,000 units. As such, this participation constitutes a related-party transaction as defined under Multilateral Instrument 61-101 (Protection of Minority Security Holders in Special Transactions). Such participation is exempt from the formal valuation and minority shareholder approval requirements of MI 61-101 as neither the fair market value of the units acquired by the insider, nor the consideration for the units paid by such insider exceeds 25 per cent of the company's market capitalization. The company did not file a material change report 21 days prior to the closing date of this private placement as details of the respective participation of such insiders in the offering were unknown at such time. In addition, a new insider position was created through the participation in the private placement wherein the investor subscribed for 750,000 units.

Finders' fees of $38,802.02 in cash and 125,440 finder warrants, exercisable at 50 cents for two years, have been agreed to be paid/issued.

The company will apply to the TSX Venture Exchange for approval to close the financing, as oversubscribed, and issue the securities. The securities to be issued under this financing will be subject to a hold period ending on the date that is four months plus one day following the date of issuance in accordance with applicable securities laws and, if applicable, will be subject to U.S. resale restrictions under U.S. securities laws.

About First Canadian Graphite Inc.

First Canadian Graphite is managed by a team with over 150 years collectively with a proven record of not just finding numerous mines but building and operating them too. The company's management team's most recent success is discovering the Berkwood graphite resource in Northern Quebec. The company owns this asset 100 per cent, and the company's shareholders will benefit from this asset as the demand for graphite for electric vehicles increases significantly.

We seek Safe Harbor.