FCI.V · 2026-01-12 12:00:00

First Canadian Graphite Inc. Announces Commencement of Airborne Electromagnetic (EM) and Magnetic Surveys and Expands Land Holdings

Mergers & Acquisitions Property Options & Staking Exploration Programs

2200 – 1250 Rene Levesque Blvd. Montreal, QC, H3B 4W8

Phone: (438) 469-0705

#1100 - 1111 Melville Street, Vancouver, BC, V6E 3V6

Phone: (604) 343-7740

Email: [email protected]

Website: https://www.firstcanadiangraphite.com/

FIRST CANADIAN GRAPHITE INC. ANNOUNCES COMMENCEMENT

OF AIRBORNE ELECTROMAGNETIC (EM) AND MAGNETIC

SURVEYS AND EXPANDS LAND HOLDINGS

Montreal, QC – January 12th, 2026 — First Canadian Graphite Inc. (the “Company” or

“FCI”) (TSX-V: FCI; Frankfurt: BK2; OTC Pink: GBMIF) is pleased to announce that the airborne

electromagnetic (EM) and magnetic surveys has commenced over its flagship Berkwood Graphite

Project, located on the Quebec's North Shore, southwest of the Manicouagan Reservoir.

Prospectair, an industry leader in Airborne Geophysical surveys, is executing the survey planned

to cover five high priority targets to assess the probability and geographical scope of hosted

graphite occurrences.

EM is the preferred geophysical method to locate highly conductive graphite orebodies and the

ProspecTEM TDEM system developed by Prospectair is particularly well suited for this type of

operation due to its specific ability to preferentially highlight the better surface conductors at or

near surface and penetrate depth. While EM serves to identify potential graphite occurrences the

magnetic component will help in tracing the geological structures and different rock types adding

another layer of useful information for groundwork and anticipated drilling which will follow-up

during Spring/Summer of 2026.

FCI is also pleased to announce that an additional 125 claims, 6769.41 hectares, have been staked

in the surrounding and immediate area of its Berkwood project. This puts the total claims at the

Berkwood Graphite Project at 315 claims covering 16,542 ha or 165.42 km. 2 The Company has

already started reviewing the new claims and may add additional EM flyover plans to these

additional properties. These additional claims represent a 72% increase in the Company’s land

holdings and makes First Canadian Graphite the largest land holder in the area.

Additional updates from the EM airborne survey and future plans for exploration and ground work

will be released as available. The FCI team is excited to kick off 2026 with a strong program to

further develop and expand potential on Berkwood’s high quality, large flake graphite project.

The Berkwood Graphite project is comprised of several distinct separate claim blocks with most

of them historically surface sampled and showing graphite at surface. To date only two of these

claim blocks have been drilled by First Canadian, representing about only ten percent of the

conductive anomalies on all of the claims. To date the 43-101 report is taken strictly from just

Zone 1, one of the numerous properties. The Company plans on evaluating the results from the

high resolution airborne EM and magnetic geophysical surveys to target a planned Spring/Summer

drill program.

Follow this link for the complete 43-101 report: https://wp -firstcanadiangraphite-2025.s3.ca-

central-1.amazonaws.com/media/2025/09/ReportFINAL_compressed.pdf

ABOUT FIRST CANADIAN GRAPHITE INC.

First Canadian Graphite Inc. is an exploration Company advancing its flagship Berkwood Graphite

Project, located in northern Quebec, Canada. The Company has a 43-101 Resource Estimate

Report revealing 3.2 million tonnes of indicated and inferred graphite, averaging grades of 17%.

Qualified Person: Mr. Antoine Fournier (P.Geo), is a Qualified Person (“QP”) as defined by

National Instrument 43-101 guidelines – Standards of Disclosure for Mineral Projects (“NI 43-

101”), and has reviewed the technical information of this news release. Historical information

contained in this news release is derived from previous workers Assessment Reports and has not

been field verified.

Pessamit Innu First Nation

First Canadian Graphite respectfully acknowledges that the Berkwood Project is located within

the traditional territory of the Pessamit Innu First Nation. The Company is committed to

fostering respectful, transparent, and collaborative relationships with local Indigenous

communities throughout the development process.

Forward-Looking Statements

This press release contains forward-looking statements, including statements about demand,

pricing trends, strategic positioning, and the expected benefits of China’s export controls. These

statements are based on assumptions and beliefs of management and involve risks and

uncertainties, which may cause actual results to differ materially from those anticipated.

About the Berkwood Graphite Project

The Berkwood Graphite Project is located within the jurisdiction of Quebec, in the Manicouagan

Regional County Municipality, three hours driving time from the city of Baie-Comeau. Easy

access is provided via a major secondary road and numerous tertiary and forest roads that traverse

the property.

The Zone 1 resource lies 8 km southwest of Nouveau Monde’s deposit which has a $3.5 billion

NPV on it. The Companies Zone 1 resource, and that of Nouveau Monde, share many similar

geological characteristics, with the Zone 1 resource being of exceptionally high grade and coarse

flake size by global standards.

The current mineral resource at the Berkwood Graphite Project includes in-pit constrained

resource totaling 1,755,300 tonnes of indicated resources at 17.00 % Cgr and 1,526,400 tonnes in

inferred resources at 16.39 % Cgr.

Table 2: In-pit Resource at Lac Gueret South Project (rounded numbers)

Current Resources (as of June 17th, 2019)

Minerals Resources