Mr. Marc Roy reports

FOCUS GRAPHITE REPORTS 77.14 M GRADING 17.63% GRAPHITIC CARBON (CG) IN HOLE LT-22-135 FROM ITS 2022 DEFINITION DRILLING PROGRAM AT LAC TETEPISCA PROJECT, QUEBEC

Focus Graphite Inc. has released the results for an additional nine holes from the company's 2022 exploration and definition drilling program at 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.

Between March 3 and Nov. 17, 2022, Focus completed 14,900.5 metres of core drilling from 74 holes, including 6,640.2 metres of definition drilling from 27 deep holes along strike of its Manicouagan Ouest graphitic corridor (MOGC) deposit.

The results reported today are for five deep definition holes drilled on sections at a 50-metre spacing over a 200 m strike length section of the MOGC deposit's south end, between line 9+00S and line 11+00S, and four deep definition holes drilled between line 2+00S and line 3+50S at the north end of the deposit (see the table entitled "Highlights of the nine drill holes from the 2022 deep definition core drilling program targeting the MOCG deposit").

Highlights:

• Hole LT-22-135, drilled at minus-65 degrees to a vertical depth of 190.3 metres on Section L9+00S, intersected 77.14 metres grading 17.63 per cent Cg (graphitic carbon) (from 92.85 metres to 183.6 metres);
• Hole LT-22-136, drilled at minus-68 degrees to a vertical depth of 191.9 metres on Section L9+50S intersected 88.44 metres grading 12.6 per cent Cg (from 57.66 metres to 166.2 metres), including:
  • 51.56 metres grading 16.21 per cent Cg (from 95.45 metres to 1590 metres).
• Hole LT-22-137, drilled at minus-68 degrees to a vertical depth of 191.9 metres on Section L10+00S, intersected 42.47 metres grading 10.36 per cent Cg (from 97 metres to 149.2 metres), including:
  • 22.49 metres grading 14.31 per cent Cg (from 98.2 metres to 126 metres).
• Hole LT-22-124, drilled at minus-62 degrees to a vertical depth of 196 metres on Section L3+50S, intersected 76.6 metres grading 10.83 per cent Cg (from 110.3 metres to 198.55 metres), including:
  • 34.28 metres grading 14.86 per cent Cg (from 110.3 metres to 149.9 metres).
• Hole LT-22-121, drilled at minus-70 degrees to a vertical depth of 247.9 metres on Section L2+00S, intersected two mineralized horizons:
  • 34.71 metres grading 15.64 per cent Cg (from 99 metres to 143.20 metres); and
  • 56.41 metres grading 9.62 per cent Cg (from 158.7 metres to 229.5 metres).
• Holes LT-22-122 and LT-22-123, drilled on sections L2+50S and L3+00S, respectively, intersected the southwest extensions of the two mineralized horizons intersected in hole LT-22-121, with similar thicknesses and grades.
• Holes LT-22-138 and LT-22-139, drilled on sections L10+50S and L11+00S, respectively, intersected at depth the mineralized horizon reported in holes LT-20-89 and LT-17-66, with similar grades but greater thickness, although discontinuities are noticed.

Marc Roy, president and chief executive officer of Focus, states: "The latest results from our 2022 definition drilling program at Lac Tetepisca continue to demonstrate the potential for a significant extension of the MOCG deposit at depth and along strike. The results also reveal marked differences in the style of graphitic mineralization between the north and south ends of the deposit. We look forward to the results from the set of deep definition holes drilled along the central section of the deposit, which are pending, to gain a better understanding of the geological controls on graphite mineralization distribution and grade along the full length of the deposit, a key consideration for the preparation of a future updated mineral resource estimate for the project."

Drill core analytical results continue to be delivered to Focus at a rate of about one hole per week and they will be released by the company as they are received from Actlabs Laboratories, with interlaboratory checks at COREM, and compiled, processed and quality assurance/quality control-verified by IOS Services Geoscientifiques Inc., which designed the 2022 drilling program and are managing the analytical program for the Lac Tetepisca project for the company. Please monitor the company's website and regulatory filings on SEDAR for the latest news on the Lac Tetepisca project.

Geological sections showing the results of the 14 definition drill holes from the 2022 drilling program released by the company in 2023, together with the results from 2014 to 2020 drilling, are available on the company's website, along with a map showing the location of the drill holes.

Drilling program 2022

The 2022 core drilling program at the Lac Tetepisca project was designed and operated by IOS Services Geoscientifiques Inc. of Saguenay, Que., under the supervision of Table Jamesienne de Concertation Miniere (TJCM) of Chibougamau, Que., acting as an independent technical adviser to the company. Drilling was performed by Forage G4 of Val d'Or, Que., using a single drill rig. Drilling commenced on March 3, 2022, and ended on Nov. 17, 2022.

The drilling program consisted of systematic definition drilling along strike of the company's MOGG deposit, together with exploration drilling at the nearby West limb and Southwest MOGC geophysical (MAG-TDEM) targets. A total of 74 holes were completed, from LT-22-107 to LT-22-179 (total: 14,900.5 metres), including 27 deep holes drilled over a 1.5-kilometre strike length on the MOGC deposit (total: 6,640.2 metres), 29 exploration holes drilled on the West limb target (total: 5,421.6 metres) and 18 exploration holes drilled on the Southwest MOGC target (total: 2,838.8 metres). Drilling completed on the MOGC deposit includes seven 300 m length vertical HQ-diameter holes, 19 high angled holes drilled to a vertical depth of 200 metres, plus a short hole drilled at moderate angle (LT-22-173A).

Starting in March, 2022, drill core boxes for each hole were packaged by sequential numbers onto pallets in the field by IOS personnel and then shipped by truck every two weeks to IOS's facilities in Saguenay where they are currently archived. Sampling has been conducted with a diamond saw, with NQ-diameter core from the Southwest MOGC and West limb targets being halved, while all HQ-diameter core from the MOGC deposit was quartered. Sample preparation work consisting of crushing and grinding began last September and is expected to be completed in the coming weeks. Pulverized splits were 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 induction furnace with infrared spectrometry until last February, and subsequently to Activation Laboratories in Ancaster, Ont. (ISO/IEC 17025: 2005 with CAN-P-1579), for graphitic carbon (code 5D -- C Graphitic) and total sulphur analysis (code 4F -- S Combustion infrared detection) using an Electra induction furnace with infrared spectroscopy. Historic results indicate excellent interlaboratory comparable results. A subset of 10 per cent of samples was analyzed for 35-trace-element analysis using ICP-OES (inductively coupled plasma optical emission spectrometry) and ICP-MS (inductively coupled plasma mass spectrometry) after an aqua-regia digestion at Activation Laboratories (Code 1E2 -- Aqua Regia). Holes concerned by the present news release include 1,251 graphitic carbon analyses.

Quality assurance/quality control

The analytical quality control program for the Lac Tetepisca project has been implemented by an IOS-certified chemist, and is identical to the one used for previous drill programs at Lac Tetepisca or at the company's Lac Knife project. Under the QA/QC program, the current set of analyses included 132 of the core samples, or about 11 per cent of the samples, which 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 132 samples were sent to Actlabs Laboratories or COREM for graphitic carbon (code 5D -- C Graphitic or code LSA-M-B10) and total sulphur (code 4F -- S Combustion infrared detection or code LSA-M-B41) determinations. A total of 174 reference materials (about 14 per cent) are inserted in the sample sequences, either certified or internal reference material samples (CDN-GR1, CMRI12, OREAS-723, OREAS-724, OREAS-725, CGL-004, NCS-DC-60119, NCS-DC-60120 and NCS-DC-60121), duplicates (quarter-split core or grinding duplicates), and preparation and analyses blanks.

Qualified persons

The technical content disclosed in this news release was reviewed and approved by Rejean Girard, PGeo (QC), president of IOS Services Geoscientifiques, and a qualified person as defined under National Instrument NI 43-101.

Marc-Andre Bernier, Geo (QC), PGeo (ON), 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 is located in the southwest Manicouagan reservoir area of the Cote Nord region of Quebec, one of North America's leading emerging flake graphite districts. The project lies on the Nitassinan of the Pessamit, 234 kilometres 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. It comprises two contiguous properties, Lac Tetepisca and Lac Tetepisca Nord. Together, the two properties form a block of 126 map-designated claims (total area: 6,785.14 hectares). 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.

The Lac Tetepisca project hosts the Manicouagan Ouest graphitic corridor (MOGC) graphite deposit with a pit-constrained indicated resource of 59.3 million tonnes (Mt) grading 10.61 per cent graphitic carbon 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).

Additional maps 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 advanced exploration company with an objective of producing flake graphite concentrate at its wholly owned Lac Knife and Lac Tetepisca flake graphite projects located in the Cote Nord administrative region of Quebec. In a second stage, to meet Quebec stakeholder interests in developing second transformation industries within the province and to add shareholder value, Focus is 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 a significant equity position in graphene applications developer Grafoid Inc.

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