Mr. Marc Roy reports

FOCUS GRAPHITE REPORTS MAJOR MAIDEN MINERAL RESOURCE ESTIMATE AT LAC TETEPISCA, QUEBEC

Focus Graphite Inc. has released its maiden mineral resource estimate for its 100-per-cent-owned Lac Tetepisca graphite project located southwest of the Manicouagan reservoir in the Cote-Nord administrative region of Quebec on the Nitassinan of the Pessamit Innu.

The mineral resource estimate (MRE), prepared by DRA Global Ltd.'s (DRA) Montreal, Que., office, includes a pit-constrained indicated resource for the Manicouagan-Ouest graphitic corridor (MOGC) Lac Tetepisca project of 59.3 million tonnes (Mt) grading 10.61 per cent graphitic carbon (Cg) for an estimated content of 6.3 Mt of natural flake graphite (in situ) and an inferred resource of 14.9 Mt grading 11.06 per cent Cg for an estimated content of 1.6 Mt of natural flake graphite (in situ).

Focus will file a technical report pursuant to National Instrument 43-101 to support disclosure of the MRE on SEDAR within 45 days of the issuance of this press release.

"The results of this maiden mineral resource estimate for the MOGC prospect have exceeded our expectations. They show the great potential of our Lac Tetepisca project, which we can now claim hosts one of the largest undeveloped flake graphite deposits in Quebec," said Marc Roy, president and chief executive officer of Focus Graphite. "Along with our flagship Lac Knife graphite project, we now have two significant graphite deposits in Quebec, which puts Focus in a strong position to occupy a vital link in the North American primary graphite supply chain. We aim to become a secure and reliable supplier of critical and strategic minerals to reduce North American dependence on foreign sources."

Mr. Roy continued: "While our focus remains on bringing our flagship Lac Knife graphite project to commercial production, we will also begin investigating the best way to advance the development of our Lac Tetepisca graphite project. We plan to consult the communities that could potentially be impacted by the next stages in the development of the project to listen to their concerns and expectations and to offer them an opportunity to participate in project steering committees. We will also consult the Quebec government about potential incentives and initiatives that could help facilitate the development of the project and achieve social acceptability, particularly incentives provided under its plan for the development of critical and strategic minerals 2020 to 2025. At the same time, we intend to continue exploring the remainder of the project or other significant flake graphite occurrences."

Plan and longitudinal views of the conceptual 2-D (two-dimensional) pit shell with mineral resource blocks for the MOGC graphite deposit are available on the company's website.

Resource estimation summary and parameters

The maiden mineral resource estimate for the Lac Tetepisca project is based on 106 inclined diamond drill holes performed between 2014 and 2020 on the Manicouagan-Ouest graphitic corridor graphite prospect, for a total of 16,467 metres. Focus discovered the MOGC prospect in July, 2012, while conducting reconnaissance geological mapping, prospecting and outcrop sampling on the property. The MOGC is defined by a linear kilometre-long ground geophysical magnetic (MAG) -- electromagnetic (EM) anomaly. Drilling was conducted in a 1.4-kilometre-long segment of the MOGC, along fences up to 300 metres long, with fences spaced 100 metres, 50 metres or 25 metres apart.

The MRE for the MOGC deposit incorporates analytical results from a total of 5,177 core samples (QA/QC (quality assurance/quality control) samples excluded), including 625 samples sent for analysis in 2015, representing 16 drill holes; 946 samples sent for analysis in 2017, samples representing 18 drill holes; and 2,168 samples sent for analysis in 2018, representing 42 drill holes; with the remaining 1,438 samples representing 30 drill holes being sent for analysis in 2021. Assays from the various programs were done using the same sampling, assaying and QA/QC procedures. The MRE is established for the unoxidized profile of the deposit, from surface to a vertical depth of about 200 metres with an average true thickness of about 85 metres. The deposit remains open along strike to the southwest and at depth.

IOS Services Geoscientifiques Inc. of Saguenay, Que., designed and operated the drilling programs targeting the MOGC prospect for Focus or provided logistical and technical support, while Table Jamesienne de Concertation Miniere (TJCM) of Chibougamau, Que., provided independent project supervision services. Drilling was performed by Forages Rouillier of Amos, Que., Forages Chibougamau of Chibougamau, Que., and Forage G4 of Val d'Or, Que.

Core logging, sampling and sample preparation were performed at the IOS laboratory facilities in Saguenay, Que. Pulverized splits were then sent to Corem, an ISO/IEC 17025:2005 certified facility located in Quebec City, for graphitic carbon (code LSA-M-B10) and total sulphur (code LSA-M-B41) analysis using LECO combustion in induction furnace with infrared spectrometry. The analytical quality control program for the Lac Tetepisca project was implemented by an IOS certified chemist. Approximately 10 per cent of the samples were also analyzed by Corem for total carbon (code LSA-M-B45), organic carbon (code LSA-M-B58) and inorganic carbon (code LSA-M-B11). Duplicates of the same samples were sent to Actlabs Laboratories of Ancaster, Ont. (ISO/IEC 17025:2005 with CAN-P-1579), for graphitic carbon (code 5D -- carbon graphitic) and total sulphur (code 4F -- sulphur combustion infrared detection) determinations and for 35 trace element analysis using ICP-MS (inductively coupled plasma mass spectrometry) after an aqua regia digestion (code 1E2 -- aqua regia). Also, IOS inserted certified or internal reference material samples (CDN-GR1, CMRI12, Oreas-724, GLC-004, NSC-DC-60119, NSC-DC-60120 and NSC-DC-60121), duplicates (quarter-split core, crushing or grinding duplicates), and blanks into the sample sequences representing about 15 per cent of all samples for each of the four drilling programs.

The mineral resource estimate was prepared by Schadrac Ibrango, PGeo, PhD, MBA, lead geologist and qualified person (QP) for DRA. The geology was interpreted in 2-D vertical sections followed by the construction of 3-D (three-dimensional) envelopes of the mineralized zones. Three mineralized zones were modelled -- a principal one and two small grade zones. Compositing was made at a two-metre length which represent the second statistical mode of the assays sampling length histogram. Block size of 10 metres (m) by 10 m by five m was selected based on the average drill spacing over the estimation domain. Geological modelling and mineral resource estimate were performed using HxGN MinePlan 3-D (previously MineSight) with Cg per cent and sulphur content (per cent) grades estimated using inverse distance squared (ID2). No capping was applied on Cg per cent since its statistical distribution does not show extreme high-value population associated with a nugget effect. A mathematical regression model developed between density and sulphur content was used to allocate a density for each block interpolated based on its sulphur content.

Three successive passes were used to inform all blocks within the estimation domain. In the first pass, an ellipsoid of 40 m by 40 m by 40 m (sphere) was used and a maximum and minimum numbers of composites to interpolate a block were respectively set to 15 and nine. The maximum number of composites allowed for a single hole was set to three. As consequence of the combination of both constrains, at least three holes are required to allow a block to be coded during this first pass. In the second pass, an ellipsoid of 60 m by 60 m by 60 m (sphere) was used and a maximum and minimum numbers of composites to interpolate a block were respectively set to 15 and six. The maximum number of composites allowed for a single hole was set to three. As consequence of the combination of both constrains, at least two holes are required to allow a block to be coded during this second pass. The third pass has same parameters than the second pass with the exception that the ellipsoid was relaxed to 100 m by 100 m by 100 m (sphere). The oriented search ellipsoids were constrained within the mineralized grade/geological solids and no composite located outside the estimation domain was used for blocks interpolation. A preliminary open-pit optimization algorithm was run on the estimated grade block model to constrain the resources and to support the Canadian Institute of Mining, Metallurgy and Petroleum's (CIM) requirement that mineral resources have reasonable prospects for eventual economic extraction. Only mineralization contained within the preliminary pit shell has been included in the resource estimate.

The mineral resources have been classified according to the CIM definition for classification of indicated and inferred mineral resources. All blocks interpolated during the first and the second pass have been classified as indicated mineral resources. All blocks interpolated during the third pass have been classified as inferred mineral resources. A cut-off of 3.9 per cent Cg has been applied to disclose the estimated mineral resources.

The effective date of the MRE is Sept. 17, 2021, which is the date of reception of the final version of the drill hole database.

Qualified persons

DRA consultant Mr. Ibrango, PGeo, PhD, MBA, is responsible for estimating the mineral resources and has reviewed and approved the contents of this press release. Mr. Ibrango is a qualified person, independent of Focus Graphite, within the meaning of National Instrument 43-101 (Standards of Disclosure for Mineral Projects) of the Canadian Securities Administrators.

Marc-Andre Bernier, geoscientist, PGeo, MSc, senior geoscientist for Table Jamesienne de Concertation Miniere, a consultant to the company and a qualified person as defined under National Instrument 43-101 (Standards of Disclosure for Mineral Projects) has reviewed and approved the non-technical content this news release.

About the Lac Tetepisca graphite project

Focus Graphite's 100-per-cent-owned Lac Tetepisca graphite project comprises two contiguous properties, Lac Tetepisca and Lac Tetepisca Nord, located in the southwest Manicouagan reservoir area of the Cote-Nord region of Quebec, 234 kilometres (km) north-northwest of the city of Baie-Comeau, an industrial city located where the Manicouagan River intersects the north shore of the St. Lawrence River. Together, the two properties form a block of 115 map-designated claims (total area -- 6,198.27 hectares (ha)). Focus purchased a 100-per-cent unencumbered interest of the mineral rights in the 67 CDC claims constituting the original Lac Tetepisca property from a third party in August, 2011. The Lac Tetepisca Nord property was map staked by the company in 2012. The Lac Tetepisca project is accessible year-round by way of a network of secondary gravel roads that extend north from Highway 389, 10 km to the south of the Manic 5 hydroelectric power station.

A map of the Lac Tetepisca property showing the location of the MOGC graphite deposit, along with drill sections, are available on the company's website.

About Focus Graphite Inc.

Focus Graphite is an exploration and development company that seeks to produce flake graphite concentrate at its wholly owned Lac Knife and Lac Tetepisca flake graphite projects located in the Cote-Nord administrative region of Quebec. As part of its mission to build long-term, sustainable shareholder value, Focus is also evaluating the feasibility of producing value-added specialty graphite products, including battery-grade spherical graphite. Focus Graphite is a technology-oriented graphite development company with a vision for building long-term, sustainable shareholder value. Focus also holds an equity position in graphene applications developer Grafoid Inc. Focus is committed to operating in a socially, environmentally and ethically responsible manner.

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