Mr. John LaGourgue reports

FIRST CANADIAN GRAPHITE COMPLETES PHASE II AIRBORNE SURVEY

First Canadian Graphite Inc. has released results from its completed 1,269 line-kilometre phase II Prospectair airborne magnetic and electromagnetic (Mag-EM) survey at the Lac Gueret South graphite project in Quebec's Cote-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 per cent Cg (graphitic carbon), with grades up to 43.4 per cent Cg (see the company's news releases dated July 30, 2026, and Aug. 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. 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 multikilometre conductive system with several priority drill targets, including a prominent southern fold nose near samples grading up to 43.4 per cent Cg," said John LaGourgue, First Canadian Graphite's president and chief executive officer. "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 Ministere des Ressources naturelles et des Forets, 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 multikilometre 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 Gueret 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 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 an NI 43-101 technical report dated June 19, 2019, with a detailed mineral resource estimate for the Lac Gueret 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 First Canadian Graphite's website or the company's profile on SEDAR+.

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 in its July 30, 2026, news release entitled "First Canadian Graphite Reports High-Grade Graphite Prospecting Results up to 43.4% Cg at Lac Gueret South Project." That release reported that more than 30 per cent of the samples (14 of 46) returned graphitic carbon grades above 20 per cent. For full details of the press release, First Canadian Graphite's website or the company's profile on SEDAR+.

Qualified person

The technical information in this news release has been reviewed and approved by Antoine Fournier, MSc, Geo, vice-president, exploration, for First Canadian Graphite and a qualified person under NI 43-101, Standards of Disclosure for Mineral Projects.

About First Canadian Graphite Inc.

First Canadian Graphite is engaged in the exploration of critical minerals and is committed to advancing its Lac Gueret South high-grade graphite property to support applications in energy transition and advanced technologies.

The Lac Gueret South project (formerly the Berkwood project) borders Nouveau Monde Graphite's Uatnan graphite project in the southwestern Manicouagan reservoir area, approximately 234 kilometres north-northwest of Baie-Comeau in Quebec's Cote-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 kilometres and widths exceeding 150 metres. Prospecting on this discovery has returned surface and near-surface high-grade graphite, with 46 samples assaying up to 43.4 per cent Cg. Refer to the company's press releases dated July 30, 2026, and Aug. 20, 2026.

The company's land claims and optioned ground now exceed 200 square kilometres, establishing one of the most extensive claim portfolios in the Lac Gueret 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 financing to continue advancing Lac Gueret South through 2026.

We seek Safe Harbor.