Focus Graphite Begins Phase 2 (12,000 Metres) of Its 2022 Core Drilling Program on Its Lac Tétépisca Project

Rhea-AI Summary

Focus Graphite has launched the second phase of its 2022 core drilling program at the Lac Tétèpisca project following the receipt of necessary land use permits. This second phase includes 12,000 meters of drilling targeting the Manicouagan-Ouest Graphitic Corridor, aiming to confirm graphite mineralization over a five-kilometer stretch. Notably, the program seeks to convert a fraction of the 59.3 million tonnes of Indicated Resources into Measured Resources and part of 14.9 million tonnes of Inferred Resources into Indicated Resources. 31 holes have been drilled to date.

Positive

• Launch of 12,000 meters drilling program to explore mineralization.
• Potential conversion of significant mineral resources advancing towards a Preliminary Economic Study.

Negative

• None.

KINGSTON, ON / ACCESSWIRE / July 28, 2022 / Focus Graphite Inc. (TSXV:FMS) ("Focus"or the "Company") is pleased to announce the launch of the second phase (12,000 m) of its 2022 core drilling program on its Lac Tétépisca project. Phase 2 of the program was initiated following the receipt on July 6 of two land use permits from the ministry of Forests, Wildlife and Parks of Québec ("MFFP") relating to the Manicouagan-Ouest Graphitic Corridor ("MOGC") deposit sector and the areas of the "West Limb" and "Southwest MOCG" exploration targets. The Lac Tétépisca graphite project is wholly owned by Focus. It is located on the Nitassinan (ancestral territory) of the Pessamit Innuin the Côte-Nord region, 234 km north-northwest of the city of Baie-Comeau. Marc Roy, CEO of Focus, said: "Our team is pleased to have obtained the necessary approvals to launch the second phase of drilling on our Lac Tétépisca project. We are now able to continue exploration drilling on the West Limb and Southwest MOGC targets as well as deep infill drilling on the MOGC deposit." The exploration drilling program for the West Limb and Southwest MOGC targets aims to validate the occurrence of graphite mineralization within the extension, of the magnetic and electromagnetic anomaly associated with the MOGC deposit, over an approximate distance of five kilometres. A deep infill drilling program is also underway at the MOGC deposit. The purpose of this program is to convert a portion of the 59.3 million tonnes (Mt) of Mineral Indicated Mineral Resources grading 10.61% Cg* into Measured Resources, as well as a portion of the 14.9 Mt of Inferred Mineral Resources grading 11.06% Cg* in Indicated Resources. The conversion of Inferred and Indicated mineral resources to higher category resources is necessary to allow the MOGC deposit to reach the next step of the development process, the Preliminary Economic Study ("PEA"). *Source: Report entitled "NI 43-101 Technical Report, Mineral Resource Estimate, Lac Tétépisca Graphite Project, Québec"" prepared by DRA Global Ltd., Montreal office, filed on www.sedar.com April 5, 2022, and available under Focus Graphite Inc. To date, 31 holes have been drilled on the Lac Tétépisca project, based on the land use permits obtained previously (total: 6,483.65 metres). The preparation of core samples from these boreholes is underway at IOS Services Géoscientifiques Inc. ("IOS") laboratories located in Saguenay, Québec, and the first batches of samples will be shipped shortly to COREM laboratories located in Quebec City for graphite carbon (Cg) and total sulfur (S(tot)) assays.

The drilling program was designed and operated by IOS acting as Focus' main contractor, while Table Jamésienne de Concertation Minière ("TJCM") of Chibougamau, Québec, the Company's technical advisor, is supervising the project. The drilling work was entrusted to Forage G4 of Val-d'Or, Québec. Qualified person Mr. Marc-André Bernier, géo. (QC), P.Geo. (ON), M.Sc., Senior Geoscientist for Table Jamésienne de Concertation Minière, a consultant to the Company and a Qualified Person as defined under National Instrument (NI) 43 - 101 Standards of Disclosure for Mineral Projects has reviewed and approved the technical content of this news release.

About the Lac Tétépisca Graphite Project
Focus Graphite's 100%-owned Lac Tétépisca Graphite Project comprises two contiguous properties, Lac Tétépisca and Lac Tétépisca Nord, located in the Southwest Manicouagan reservoir area of the Côte-Nord region of Québec on the Nitassinan of the Pessamit Innu, 234 km north-northwest of the city of Baie-Comeau, an industrial city located where the Manicouagan River intersects the north shore of the St. Lawrence River. Together, the two properties form a block of 125 map-designated claims (total area: 6,737.50 ha). Focus purchased a 100% unencumbered interest of the mineral rights in the 67 CDC claims constituting the original Lac Tétépisca property from a third party in August 2011. The Lac Tétépisca Nord property was map-staked by the Company in 2012. The Lac Tétépisca Project is accessible year-round by way of a network of secondary gravel roads that extend north from Highway 389, 10 km to the south of the Manic 5 hydroelectric power station. Additional maps of the Lac Tétépisca property showing the location of the West Limb and Southwest MOGC targets and the MOGC graphite deposit, along with drill sections, are available on the Company's website at www.focusgraphite.com.

About Focus Graphite
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 or contact:

Kimberly Darlington
Communications, Focus Graphite
kdarlington@focusgraphite.com

Judith Mazvihwa-MacLean
Chief Financial Officer, Focus Graphite
jmazvihwa@focusgraphite.com
(613) 581-4040

Neither the TSX-V nor its Regulation Services Provider (as that term is defined in the policies of the TSX-V) accepts responsibility for the adequacy or accuracy of this news release.

Forward-Looking Statements
This press release contains "forward-looking information" within the meaning of Canadian securities legislation. All information contained herein that is not clearly historical in nature may constitute forward-looking information, including references to the plans and project of the Company such as proceeding with production at the Company's Project, proceeding with exploration activities on its permits on Lac Tétépisca. Generally, such forward-looking information can be identified by the use of forward-looking terminology such as "potential", "high-potential", "expected", "optimistic", "looking forward", "moving forward", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would" or "might". Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the
Company to be materially different from those expressed or implied by such forward-looking information, including but not limited to: (i) volatile stock price; (ii) the general global markets and economic conditions; (iii) the possibility of write-downs and impairments; (iv) the risk associated with exploration, development and operations of mineral deposits; (v) the risk associated with establishing title to mineral properties and assets; (vi) fluctuations in commodity prices; (vii) the risks associated with uninsurable risks arising during the course of exploration, development and production; (viii) competition faced by the issuer in securing purchasers, off-taker markets, clients and experienced personnel and financing; (ix) access to adequate infrastructure to support mining, processing, development and exploration activities; (x) the risks associated with changes in the mining regulatory regime governing the issuer; (xi) the risks associated with the various environmental regulations the issuer is subject to; (xii) risks related to regulatory and permitting delays; (xiii) risks related to potential conflicts of interest; (xiv) the reliance on key personnel; (xv) liquidity risks; (xvi) the risk of litigation; and (xvii) risk management.

Forward-looking information is based on assumptions management believes to be reasonable at the time such statements are made, including but not limited to, continued exploration activities, no material adverse change in metal prices, exploration, and development plans to proceed in accordance with plans and such plans to achieve their stated expected outcomes, receipt of required regulatory approval, and such other assumptions and factors as set out herein. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in the forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such forward-looking information. Such forward-looking information has been provided for the purpose of assisting investors in understanding the Company's business, operations and exploration plans and may not be appropriate for other purposes. Accordingly, readers should not place undue reliance on forward-looking information. Forward-looking information is given as of the date of this press release, and the Company does not undertake to update such forward-looking information except in accordance with applicable securities laws.

SOURCE: Focus Graphite, Inc.

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FAQ

What is the purpose of Focus Graphite's Phase 2 drilling at Lac Tétèpisca?

The purpose is to confirm graphite mineralization and convert Inferred Resources into higher categories.

How many meters are being drilled in Phase 2 of the Lac Tétèpisca program?

The second phase includes 12,000 meters of drilling.

What resources are targeted for conversion in the Lac Tétèpisca project?

The program aims to convert a portion of 59.3 million tonnes of Indicated Resources and 14.9 million tonnes of Inferred Resources.

When was the Phase 2 drilling program for Lac Tétèpisca launched?

The drilling program was launched following the receipt of land use permits on July 6, 2022.

What are the expected next steps for Focus Graphite after the drilling program?

The next step is to conduct a Preliminary Economic Study based on the resource conversions achieved.