Mr. John LaGourgue reports

FIRST CANADIAN GRAPHITE RECEIVES AUTHORIZATION TO COMMENCE PHASE III TRENCHING AND DIAMOND DRILLING AT LAC GUÉRET SOUTH PROJECT

First Canadian Graphite Inc. has officially received its Authorization for Impact-Causing Exploration Work (ATI) from the Ministere des Ressources naturelles et des Forets for its Lac Gueret South graphite project in Quebec's Manicouagan region. The ATI permit allows the company to commence its phase III exploration program at its high-priority Zone 13 graphite target, which will include mechanized trenching and diamond drilling scheduled for fall 2026.

The phase III program will test the subsurface continuity of high-grade graphite mineralization mapped over approximately 3.3 kilometres of strike. Surface sampling has returned assays of up to 43.4 per cent graphitic carbon (Cg), with 45.7 per cent of the 46 samples exceeding 15 per cent Cg, including 14 samples exceeding 20 per cent Cg (see the company's news releases dated July 30, 2026, and Aug. 20, 2026).

"This ATI authorization will allow us to test if there is a depth continuity of a target that has already returned encouraging graphite grades along a substantial surface strike length and EM results that suggest mineralization to depth," said John LaGourgue, First Canadian Graphite's president and chief executive officer. "With ground access restored, we can begin stripping and channel sampling in mid-November, immediately followed by approximately 20,000 metres of diamond drilling within an overall planned budget of $6.5-million over five to six months. The completed program will help demonstrate mineralized thicknesses, grade distribution and continuity at depth. Zone 13 remains the company's highest-priority target. Results will be reported as they are received and compiled, with initial releases expected in early 2027."

Phase II's highly successful Prospectair Mag-EM survey expanded the phase I conductive footprint into a multikilometre system Z-Fold while identifying additional conductive extensions east, north and northwest of the original Zone 13 outline, as well as including a large interpreted southern fold nose. Their graphite content, continuity and relative size remain to be tested (see the company's news release dated Sept. 22, 2026). Based on the results of this evaluation, the company may include these zones in the phase III program. Their graphite content, continuity and relative size remain to be tested (see the company's news release dated Sept. 22, 2026).

The Authorization for Impact-Causing Exploration Work (ATI) is required for mechanized exploration and is a prerequisite step for the phase III program. Obtaining the permit involves presenting the proposed work to the municipalities, indigenous communities and neighbouring stakeholders concerned, as well as documenting these consultations for submission to the ministry.

The ATI applies exclusively to exploration activities and does not authorize mine development or mining operations.

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 National Instrument 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 southwest 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. First Canadian Graphite remains dedicated to cultivating respectful, transparent and co-operative relationships with the Pessamit Innu First Nation and local indigenous communities at every stage of the project's development. The project is approximately three hours by all-weather road from the deepwater Port of Baie-Comeau on the St. Lawrence shipping corridor.

Recent work at Zone 13 has outlined a significant new high-grade graphite-bearing anomaly with a strike length of 10-plus km and widths exceeding 150 m. Prospecting on this discovery has returned surface and near-surface high-grade graphite, 46 samples were collected from Zone 13 and yielded grades up to 43.4 per cent Cg, with 30 per cent of samples above 20 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 236 square km, 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).

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