Focus Graphite Intersects 82.91 Metres at 13.81% Cg at the Lac Tétépisca Project in Québec

All seven deep definition holes drilled along strike of MOGC deposit intersected significant graphitic mineralization

KINGSTON, ON / ACCESSWIRE / July 11, 2024 / Focus Graphite Inc. (TSXV:FMS)(OTCQX:FCSMF)(FRANKFURT:FKC) (Focus Graphite or the Company) announces that additional results from the 2022 exploration and definition drill program at its Manicouagan-Ouest Graphitic Corridor (MOGC) flake graphite deposit returned significant graphitic mineralization, demonstrated excellent continuity at depth, and showed potential for expansion. Significant mineralization is defined as a graphitic carbon (Cg) grading a minimum of 5.0% over at least 6.0 metres true thickness with internal dilution set at a maximum of 7.0 metres consecutive and no external dilution.

"We've now processed results of all 27 definition holes drilled along strike of our MOGC graphite deposit in 2022, a key milestone on our path to delivering an updated mineral resource estimate for our Lac Tétépisca project," said Marc Roy, Focus Graphite's President and CEO.

"Significant graphitic mineralisation has now been intersected at vertical depths ranging from 160 to 300 metres in all but one 50-metre spaced sections along a 950-metre strike length of our MOGC deposit. This demonstrates the excellent continuity of the mineralization at depth as well as the potential to extend the deposit below a vertical depth of 200 metres," added Mr. Roy.

The MOGC flake graphite deposit is part of Focus Graphite's 100% owned Lac Tétépisca graphite project, which is located southwest of the Manicouagan Reservoir in the Côte-Nord administrative region of Québec, on the Nitassinan of the Pessamit Innu First Nation. The MOGC is defined by a linear 1.5 km long geophysical magnetic-electromagnetic anomaly that trends N035°. It has a pit-constrained Indicated Resource of 59.3 million tonnes (Mt) grading 10.61% 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% Cg for an estimated content of 1.6 Mt of natural flake graphite.

This maiden resource-which positions the MOGC as one of the most significant flake graphite discoveries in Québec of the 2000s-is detailed in the NI 43-101 Technical Report Mineral Resource Estimate Lac Tétépisca Graphite Project, Québec , which was prepared by DRA Americas Inc. and is dated April 4, 2022. It is available on www.sedarplus.ca/ on the Company's profile.

2022 exploration and definition drill program

Focus Graphite completed 14,900.5 metres of core drilling at the Lac Tétépisca project between March 3 and November 17, 2022. The main objectives of the exploration and definition drilling program were to:

• conduct systematic definition drilling along strike of the MOGC deposit to convert Inferred mineral resources to the Indicated category and expand total mineral resources

• identify new satellite graphite deposits within a 5 km radius of the MOGC deposit.

To date, the Company has received and released analytical results for the 27 definition holes drilled along strike of the MOGC deposit, while analytical results for the first 11 exploration holes drilled at the Southwest MOGC target have been received and disclosed. Analytical results for the remaining 47 exploration drill holes from Southwest MOGC and West Limb are pending.

Today's news release covers seven deep definition holes drilled along a 950-metre strike length of the MOGC flake graphite deposit to a minimum vertical depth of 300 metres vertical depth (Table 1, Figure 1) and six exploration holes drilled at the nearby Southwest MOGC target (Table 2, Figure 1).

Please consult the Company's website at www.focusgraphite.com/ for previous news releases containing analytical highlights from the 2022 exploration and deep definition drilling program at the Lac Tétépisca project, as well as applicable location maps.

MOCG Deposit definition drill results

Drilling completed at MOCG in 2022 totaled 6,640.2 metres and included:

• seven deep definition vertical HQ-diameter holes drilled to a minimum 300-metre length

• 19 high angled holes drilled to a minimum vertical depth of 200 metres

• one short hole drilled at moderate angle (LT-22-173A).

Highlights from the seven deep definition drill holes, which all returned significant graphitic mineralization, include:

Hole LT-22-176

• drilled at 300 ^o /-88 ^o to a vertical depth of 309.00 metres on Section L6+50S in the central sector of the Manicouagan Ouest Graphitic Corridor (MOGC) graphite deposit

• intersected 82.91 metres (true thickness) grading 13.81% Cg (from 138.50 to 267.00 metres core length) including

  • 70.93 metres (true thickness) grading 15.24% Cg (from 154.10 to 263.85 metres core length).

Hole LT-22-177

• drilled at 300 ^o /-88 ^o to a vertical depth of 324.00 metres on Section L5+00S in the central sector of the MOGC graphite deposit

• intersected 86.38 metres (true thickness) grading 11.68 % Cg (from 157.55 to 291.95 metres core length) including

  • 22.05 metres (true thickness) grading 18.05% Cg (from 167.90 to 202.60 metres core length), and

  • 33.02 metres (true thickness) grading 13.44% Cg (from 223.05 to 273.90 metres core length).

Hole LT-22-174

• drilled at 300 ^o /-88 ^o to a vertical depth of 321.00 metres on Section L9+50S in the central sector of the MOGC graphite deposit

• intersected 82.90 metres (true thickness) grading 10.82% Cg (from 81.50 to 225.95 metres core length) including

  • 10.57 metres (true thickness) grading 12.29% Cg (from 105.50 to 124.50 metres core length, and

  • 29.85 metres (true thickness) grading 17.23 % Cg (from 141.90 to 193.95 metres core length.

Hole LT-22-175

• drilled at 300 ^o /-88 ^o to a vertical depth of 384.00 metres on Section L8+50S in the central sector of the MOGC graphite deposit

• intersected 112.28 metres (true thickness) grading 8.93% Cg (from 164.30 to 338.35 metres core length) including

  • 24.42 metres (true thickness) grading 18.97% Cg (from 188.10 to 226.05 metres core length), and

  • 14.10 metres (true thickness) grading 11.08% Cg (from 267.00 to 288.60 metres core length).

Southwest MOCG exploration drill results

Drilling at the Southwest MOGC target consisted of 18 exploration holes totalling 2,838.8 metres, and results from six exploration holes drilled at the western end of the target are being reported today (Table 2). Only one drill hole intersected significant graphitic mineralization:

Hole LT-22-166

• drilled at 360°/-45° to a vertical depth of 135.39 metres on Section L10+50SW, intersected 9.11 metres (true thickness) grading 6.08% Cg (from 86.80 to 96.80 metres core length).

The graphitic zones so far intersected at the Southwest MOCG target are thinner than those in the MOGC deposit and are not located at the same stratigraphic levels. Detailed structural 3-D modelling is underway to try to connect the MOGC deposit with the SW MOGC target.

West Limb target exploration drill results

Drilling at the West Limb target consisted of 29 exploration holes totalling 5,421.6 metres. Results from drilling at this target are still outstanding and will be released once the Company has received and processed them.

Figure 1

Location of the drill holes and drill hole sections discussed in today's news release