First Canadian Graphite Gets Approval to Acquire 100% of Northern Quebec Claims

First Canadian Graphite Inc. received regulatory approval for a property option agreement dated July 15, 2026 and amended July 29, 2026, granting the company the right to earn a 100 % interest in 51 contiguous mining claims in northern Quebec.

To secure the interest, the company will pay C$30,000 in cash, issue a total of 1,200,000 common shares at a deemed price of C$0.40 per share, and fund at least C$500,000 in exploration expenditures by the third anniversary of the agreement. The deal also includes milestone bonus payments of C$100,000 for a Preliminary Economic Assessment, C$250,000 for a feasibility study, and C$500,000 upon commercial production.

The acquired property is the Lac Guéret South Project, located about 234 km north‑northwest of Baie‑Comeau in Québec’s Côte‑Nord region on the ancestral territory of the Pessamit Innu. Recent work identified a high‑grade graphite anomaly extending 3.3 km with surface samples up to 43.4 % graphitic carbon, and the project holds a historical NI 43‑101 resource of 1.76 million tonnes at 17 % Cg.