Mr. John LaGourgue reports

FIRST CANADIAN GRAPHITE LAUNCHES 2026 LAC GUERET SOUTH EXPLORATION PROGRAM

First Canadian Graphite Inc. is finalizing the design of its inaugural field exploration program following its recent corporate reorganization. This ambitious campaign is engineered to evaluate priority targets in the company's existing and expanded claim package at the flagship Lac Gueret South project, with an immediate focus on high-priority electromagnetic targets identified during the heliborne geophysical survey flown earlier this year (see press release dated May 20, 2026). The data gathered during this program will establish the foundational framework for a subsequent diamond drilling campaign scheduled for late fall 2026.

The coming exploration program will be executed in two distinct, sequential phases.

Phase 1: ground truthing and geological mapping

The initial phase will focus on grassroots prospecting, sampling and regional geological mapping. Field crews equipped with Beep Mat instruments will systematically cross the property to ground truth, locate and delineate the precise surface footprints of the conductors highlighted by the heliborne EM survey. While several of these anomalies have previously been exposed and tested -- specifically within Zone 1 and Zone 6 -- numerous priority conductors remain entirely untested. In conjunction with Beep Mat surveying, the geological team will map out the structural boundaries of these horizons, evaluating their surface widths, lateral extents, structural orientations and dips. Grab samples will be collected systematically across the target zones to provide a preliminary assessment of graphite grades and regional distribution.

Phase 2: advanced surface work and drill target selection

Phase 2 will focus exclusively on the high-potential anomalies prioritized during phase 1, advancing them toward definitive drill targeting. This phase of work will entail mechanical stripping and continuous channel sampling across the most promising graphite-bearing horizons, complemented by high-resolution structural mapping to optimize the coming drill grid geometry. Execution of phase 2 is subject to receiving an authorization for impact-causing exploration work, for which the regulatory application package is currently being compiled for immediate submission.

Looking ahead: fall drilling program

The culmination of this season's fieldwork will feed directly into a comprehensive diamond drilling program slated to commence in late fall. This drilling campaign will systematically test both the downdip depth and lateral continuity of the prioritized graphite horizons, with the ultimate objective of expanding and defining the project's resource base to support continuing economic development.

John LaGourgue, First Canadian chief executive officer, stated: "We are highly encouraged by the scale and quality of the conductive anomalies identified across our expanded Lac Gueret South project. With multiple kilometre-scale targets remaining largely untested, this program positions us to unlock significant new graphite resources in one of Quebec's most prospective districts. Combined with our existing high-grade Zone 1 resource, these results reinforce our confidence in the district-scale potential of the project as we advance toward resource expansion and long-term development."

Beyond the exploration results themselves, the company believes one of the project's most compelling strategic advantages is its access to existing regional infrastructure -- an attribute that can materially influence development timelines, capital intensity and long-term project economics. The Lac Gueret South project is positioned within reach of established transportation and logistics corridors, including all-season road access, regional rail connectivity, deepwater shipping infrastructure through the Saguenay corridor and international air transport networks. Together, this infrastructure network provides the potential to connect future production into North American and international markets within approximately four hours of the project area. For many critical mineral projects globally, comparable infrastructure access would typically require substantial capital investment and years of development and permitting.

Recent site visit to Quebec's North Shore and Baie-Comeau

As part of the continuing advancement of the Lac Gueret South project, the company's management team recently completed a productive site visit to the North Shore region of Quebec, including key meetings and reconnaissance in Baie-Comeau.

The visit provided a valuable opportunity to assess the project's strategic proximity to Baie-Comeau's port facilities, road infrastructure and established mining support services. The team engaged with local stakeholders, government representatives and community leaders in the Manicouagan and Cote-Nord regions, gaining important insights into regional priorities and opportunities for collaboration.

Preliminary reconnaissance of accessible portions of the approximately 165-square-kilometre property further reinforced the district-scale potential, particularly around the multiple kilometre-scale conductive anomalies. These on-the-ground observations, combined with constructive discussions during the Baie-Comeau stop, will directly inform the design of the coming summer exploration program and support responsible, community-aligned development as the company advances toward resource expansion and contribution to North America's critical mineral supply chain.

Qualified person

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

The company has filed a National Instrument 43-101 technical report 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).

About First Canadian Graphite Inc.

First Canadian 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 known as the Berkwood project, borders Nouveau Monde Graphite's Uatnan graphite project in the southwestern Manicouagan reservoir area, 234 kilometres north-northwest of Baie-Comeau, in the Cote-Nord administrative region of Quebec on the Nitassinan (ancestral territory) of the Pessamit Innu. Lac Gueret South features surface-exposed graphite and an NI 43-101 resource at Zone 1 containing: 1.76 million tonnes indicated at 17 per cent graphitic carbon and 1.53 million tonnes inferred at 16.4 per cent Cg (NI 43-101 mineral resource estimate technical report). The property also features several other zones with surface graphite samples, offering strong exploration potential. In early 2026, the company increased its landholdings to 167 square kilometres, establishing one of the most extensive claim portfolios within the Lac Gueret graphite district. With substantial exploration opportunities remaining and total investments exceeding $10-million, First Canadian is actively engaged in expanding its resources and advancing toward the completion of its preliminary economic assessment. The company possesses sufficient financing to further advance this project throughout 2026.

Pessamit Innu First Nation engagement

First Canadian formally acknowledges that the Lac Gueret South project is situated within the Nitassinan (ancestral territory) of the Pessamit Innu First Nation. The company remains dedicated to cultivating respectful, transparent and co-operative relationships with local indigenous communities at every stage of the project's development.