Mr. John LaGourgue reports

FIRST CANADIAN GRAPHITE SIGNS AGREEMENT WITH GROUPE NIPI, IN COLLABORATION WITH BBA, FOR ITS PRELIMINARY ENVIRONMENTAL STUDY AT LAC GUÉRET SUD

First Canadian Graphite Inc. has signed a collaboration agreement dated Aug. 4, 2026, with Groupe Nipi of Pessamit and engineering firm BBA for a preliminary environmental assessment for its Lac Gueret Sud project, located on the Nitassinan (traditional territory) of the Pessamit Innu, in the Cote-Nord administrative region. This agreement marks a significant step in implementing a responsible and respectful approach to development. The collaboration agreement provides that the Groupe Nipi will carry out a review of the current environmental context in order to assess environmental constraints on exploration. A highly skilled multidisciplinary team has been assigned to this project to ensure cost and schedule efficiency, effective collaboration, and high-quality service. First Canadian Graphite will benefit from the dedicated team of experts from Groupe Nipi and its partner BBA, who have extensive experience in all aspects of environmental studies related to mining projects; their technical skills and recognized expertise will ensure the successful management and completion of this project. Groupe Nipi will invoice First Canadian Graphite at an hourly rate.

The study aims to establish an environmental profile of the area under exploration before the commencement of any impact-causing exploration work.

The preliminary environmental study will focus on:

• The characterization of wetlands and sensitive environments to prevent any further disturbance;
• The analysis of the physicochemical properties of surface waters in the surrounding lakes and watersheds;
• The search for traces of past industrial activity in scarified soils, given the intensive logging already carried out in the area.

This work will allow First Canadian Graphite to plan its future activities with a view to responsible impact management and respect for the land.

"Groupe Nipi is proud to partner with First Canadian Graphite for this preliminary environmental study," said Jean Philippe Hervieux, director of operations for Groupe Nipi. "We will leverage our in-depth knowledge of the Nitassinan of Pessamit to contribute to an approach that respects the land, its values and its environment. True to our mission, we will prioritize hiring Innu staff from Pessamit, valuing local expertise and generating tangible benefits for the community. We thank Mr. LaGourgue and the entire First Canadian Graphite team for their trust, and are excited to collaborate closely to support responsible development based on partnership and respect for the land."

"Signing this agreement with Groupe Nipi and BBA is in keeping with our company's core values, which include actively involving local communities in the harmonious development of our projects," said John LaGourgue, president and chief executive officer of First Canadian Graphite. "We are grateful to be able to rely on the expertise of their teams to support responsible progress at our project and ensure an approach that respects the land and the people who live there."

Next steps

First Canadian Graphite is currently preparing to submit an application for an authorization for impact-causing work (ATI) to the Quebec Ministry of Natural Resources and Forests (MRNF). Subsequent work will be carried out in close collaboration with Groupe Nipi and BBA to ensure compliance with environmental standards and a responsible approach to the territory as a whole.

About Groupe Nipi

Founded in 2023, Groupe Nipi is an indigenous company from the Pessamit Innu First Nation, located on the banks of the St. Lawrence River on the North Shore. The company manages turnkey projects with a unique approach that delivers high-performing results, in harmony with sustainable development and natural resources. It also contributes to skills development in the region while maximizing local economic benefits. Groupe Nipi has participated in numerous projects in the Nitassinan territory of Pessamit and elsewhere, notably through forestry, environmental and civil engineering contracts.

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.

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 metres. Prospecting on this discovery has returned surface and near-surface high-grade graphite, with 46 samples assaying up to 43.4 per cent graphitic carbon (Cg). Refer to the company's press release dated July 30, 2026.

The project also hosts a historical NI 43-101 mineral resource at zone 1 of 1.76 million tonnes indicated at 17 per cent Cg and 1.53 million tonnes inferred at 16.4 per cent 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 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). The company has sufficient funding to continue advancing Lac Gueret South through 2026.

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.

Previous management filed a NI 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).

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.

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