Focus Graphite Awarded $350,000 Grant from the Québec Government to Develop a Geometallurgical Model of its MOGC graphite deposit, at Lac Tétépisca, Québec

Rhea-AI Summary

Focus Graphite Inc. has secured a grant of up to $350,000 from Québec's Ministry of Energy and Natural Resources to fund a geometallurgical study of its Manicouagan-Ouest Graphitic Corridor graphite deposit at the Lac Tétépisca project. This funding supports the exploration of minerals essential for green energy technologies, as outlined in the MERN's 2020-2025 plan. The study aims to develop a predictive model to enhance understanding of graphite distribution and processing attributes, vital for future production targets, especially for the expanding electric vehicle battery market.

Positive

• Awarded a grant of $350,000 from Québec's government.
• Funding will support geometallurgical studies, advancing the MOGC graphite deposit.
• Potential to enhance production capabilities for high-quality graphite aimed at the electric vehicle market.
• Project aligns with green technology initiatives according to MERN's development plan.

Negative

• None.

KINGSTON, ON / ACCESSWIRE / June 16, 2022 / Focus Graphite Inc. (TSXV:FMS)(OTCQX:FCSMF)("Focus" or the "Company") is pleased to announce that it has been awarded a grant of up to $350,000 by Québec's Ministry of Energy and Natural Resources ("MERN"). The grant will be used to finance a geometallurgical study of the Company's Manicouagan-Ouest Graphitic Corridor ("MOGC") graphite deposit at its Lac Tétépisca project. The Lac Tétépisca project is located in the southwest Manicouagan Reservoir area of Québec's Côte-Nord region, on the Nitassinan of the Pessamit Innu First Nation.

The grant award is part of the MERN's program to support mineral exploration for minerals needed for green and renewable energy technologies as outlined in its 2020-2025 Plan for the Development of Critical and Strategic Minerals.

"We are delighted to receive the financial support of the Québec Government as we endeavour to advance our MOGC graphite deposit to the next stage of the mineral resource appraisal process, "said Marc Roy, President and CEO of Focus Graphite.

The funding will be used to conduct a series of mineralogical, metallurgical, and geoenvironmental tests, the results of which will be integrated with geological, geochemical, and geostatistical information to create a spatially based predictive model of the MOGC deposit. Potential applications of the predictive model include mapping the in-situ distribution of flake sizes and flake value; mapping the distribution of potentially acid generating (PAG) sulphide minerals; and identifying metallurgical processing attributes that will affect the purity of the graphite concentrates along with the recovery of value-added coarse (+48 mesh) flake.

"By developing the geometallurgical model, we hope to advance our understanding of our MOGC graphite deposit and determine what it will take to develop it as a source of high-quality high purity flake graphite materials to supply the expanding electric vehicle (EV) battery market, as well as other applications for which graphite concentrates of the highest quality are required," added Mr. Roy.

In its press release of February 17, 2022, Focus announced the results from its Maiden Resource Estimate (MRE) at Lac Tétépisca, which include Indicated Mineral Resources of 59.3 million tonnes ("Mt") grading 10.61% graphitic carbon ("Cg"), equivalent to 6.3 Mt of in-situ graphite, a quantity which suggests the deposit has the potential to become one of the largest sources of high-grade flake graphite in North America.

Focus has commissioned IOS Services Géoscientifiques Inc. ("IOS") of Saguenay, Québec to design and conduct the geometallurgical test work program, which is expected to begin this summer using drill core samples taken from the Lac Tétépisca project in 2021.

Qualified Person

Mr. Marc-André Bernier, géo. (QC), P.Geo. (ON), M.Sc., Senior Geoscientist for Table Jamésienne de Concertation Minière ("TJCM"), a consultant to the Company and a Qualified Person as defined under NI 43-101 Standards of Disclosure for Mineral Projects, has reviewed and approved the technical information provided in this news release.

About Focus Graphite Inc.

Focus Graphite Inc. is an exploration and development company that seeks to produce flake graphite concentrate at its wholly owned Lac Knife and Lac Tétépisca flake graphite projects located in the Côte-Nord administrative region of Québec. As part of its mission to build long-term, sustainable shareholder value, Focus is also 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 an equity position in graphene applications developer Grafoid Inc. Focus is committed to operating in a socially, environmentally and ethically responsible manner.

For more information about Focus Graphite and the Company's Lac Tétépisca and Lac Knife projects, please visit Focus's website at www.focusgraphite.com.

Neither the 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 accuracy of this release.

Forward Looking Statements

Except for statements of historical fact, this news release contains certain "forward-looking information" within the meaning of applicable securities law. Forward-looking information is frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate" and other similar words, or statements that certain events or conditions "may" or "will" occur. Although we believe that the expectations reflected in the forward-looking information are reasonable, there can be no assurance that such expectations will prove to be correct. We cannot guarantee future results, performance or achievements. Consequently, there is no representation that the actual results achieved will be the same, in whole or in part, as those set out in the forward-looking information.

Forward-looking information is based on the opinions and estimates of management at the date the statements are made and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking information. Please refer to the risk factors disclosed under our profile on SEDAR at www.sedar.com. Readers are cautioned that this list of risk factors should not be construed as exhaustive.

The forward-looking information contained in this news release is expressly qualified by this cautionary statement. We undertake no duty to update any of the forward-looking information to conform such information to actual results or to changes in our expectations except as otherwise required by applicable securities legislation. Readers are cautioned not to place undue reliance on forward-looking information.

For more information on Focus Graphite Inc., please contact:

Kimberly Darlington
Communications, Focus Graphite Inc.
kdarlington@focusgraphite.com

Judith T. Mazvihwa-MacLean
CFO, Focus Graphite Inc.
Jmazvihwa@focusgraphite.com
(613) 581-4040

SOURCE: Focus Graphite, Inc.

View source version on accesswire.com:
https://www.accesswire.com/705471/Focus-Graphite-Awarded-350000-Grant-from-the-Qubec-Government-to-Develop-a-Geometallurgical-Model-of-its-MOGC-graphite-deposit-at-Lac-Ttpisca-Qubec

FAQ

What is the purpose of the $350,000 grant awarded to Focus Graphite (FCSMF)?

The grant will finance a geometallurgical study of the Manicouagan-Ouest Graphitic Corridor to enhance understanding and production of high-quality graphite.

How will the grant from Québec help Focus Graphite (FCSMF) in its projects?

The grant will support various mineralogical, metallurgical, and geoenvironmental tests critical for advancing the Lac Tétépisca graphite deposit's development.

What are the expected outcomes of the geometallurgical study for Focus Graphite (FCSMF)?

The study aims to develop a spatially-based predictive model to improve the mapping of graphite distributions and processing attributes for market needs.

How does the government's grant align with green energy initiatives for Focus Graphite (FCSMF)?

The funding supports exploration of critical minerals needed for green energy technologies as per Québec's strategic development plan for 2020-2025.

What is the significance of the Lac Tétépisca project for Focus Graphite (FCSMF)?

Lac Tétépisca contains substantial graphite resources, potentially positioning it as one of North America's largest sources of high-grade flake graphite.