First Canadian Graphite Inc Corporate Update

MONTREAL, QC / ACCESS Newswire / July 10, 2026 / First Canadian Graphite Inc. (TSXV:FCI)(OTCQB:GRAPF) ("FC graphite" or the "Company") announces the granting of stock options to its directors, offices and consultants as part of a long-term incentive program in accordance with the Company's 2026 Omnibus Share Incentive Plan adopted at the Annual and Special General Meeting held on July 7, 2026.

Grants under the 2026 Omnibus Share Incentive Plan - The Company has approved the grant of 2,300,000 stock options with a ten year term at an exercise price of $0.50, vesting as to 25% every six months. The options granted shall have the required four month plus one day hold period.

The 2026 Omnibus Equity Incentive Plan's objective is to create an incentive compensation program that is aligned with the Company's long-term objectives. Stock options and Share Units are granted in accordance with Policy 4.4 - Security Based Compensation of the TSX Venture Exchange and the terms and conditions of the 2026 Omnibus Share Incentive Plan.

About FC graphite

FC graphite is engaged in the exploration of critical minerals and is committed to advancing its Lac Guéret South high-grade graphite property to support applications in energy transition and advanced technologies.

The Lac Guéret South Project, formerly known as the Berkwood Project, borders Nouveau Monde Graphite's Uatnan graphite project in the southwest Manicouagan reservoir area, 234 km north-northwest of Baie-Comeau, in the Côte-Nord administrative region of Québec on the Nitassinan (ancestral territory) of the Pessamit Innu. Lac Guéret South features surface-exposed graphite and a historical NI 43-101 compliant resource at Zone 1 containing: 1.76 million tonnes indicated at 17% Cg and 1.53 million tonnes inferred at 16.4% Cg (NI 43-101 Technical Report Mineral Resource Estimate). The property also features several other zones with surface graphite samples, offering strong exploration potential. In early 2026, the Company increased its land holdings to 167 km², establishing one of the most extensive claim portfolios within the Lac Guéret Graphite District. With substantial exploration opportunities remaining and total investments exceeding $10 million, FCI is actively engaged in expanding its resources and advancing toward the completion of its Preliminary Economic Assessment (PEA). The Company possesses sufficient funding to further advance this project throughout 2026.

Pessamit Innu First Nation Engagement

FC graphite formally acknowledges that the Lac Guéret South Project is situated within the Nitassinan (ancestral territory) of the Pessamit Innu First Nation. The Company remains dedicated to cultivating respectful, transparent, and cooperative relationships with local Indigenous communities at every stage of the project's development.

On Behalf of the Board of Directors
First Canadian Graphite Inc.

Signed:

John LaGourgue, CEO & Director

For more information, contact:
info@FCGraphite.com
(604) 838-3376
https://fcgraphite.com/

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this News Release.

SOURCE: First Canadian Graphite Inc.