Focus Graphite Reports Additional Significant Graphitic Carbon (CG) Intercepts From 2022 Deep Definition Drilling Program at Lac Tétépisca, Québec, Including 91.26 m Grading 13.25% CG in Hole Lt-22-129

Focus has now intersected significant graphitic mineralization* in deep definition holes drilled on all 50-metre spaced sections along a 950-metre strike length of the MOGC deposit (between L1+50S and L11+00S), further demonstrating the potential for a significant extension of the MOGC deposit at depth. (* refer to Note 2 for definition).

KINGSTON, ON / ACCESSWIRE / August 1, 2023 / Focus Graphite Inc. (TSXV:FMS)(OTCQB:FCSMF)(FRANKFURT:FKC) ("Focus" or the "Company") is pleased to report the results from an additional twelve (12) holes from the Company's 2022 exploration and definition drilling program at its 100%-owned Lac Tétépisca graphite project, located southwest of the Manicouagan Reservoir in the Côte-Nord administrative region of Québec, on the Nitassinan of the Pessamit Innu.

Between March 3 and November 17, 2022, Focus completed 14,900.5 metres of core drilling from 74 holes, including 6,640.2 metres of definition drilling from 27 deep holes along strike of its Manicouagan Ouest Graphitic Corridor ("MOGC") graphite deposit.

The results reported today are for: Five (5) deep definition holes drilled on five (5) sections at a 50-metre spacing over a 200-metre strike length section of the MOGC deposit's north end, between Lines 4+00S and 5+50S (Table 1); two (2) deep definition holes collared at the same location on Line 10+50S at the south end of the deposit, but with different azimuths (Table 1); and five (5) exploration holes drilled on two almost north trending sections at the east end of the Southwest MOGC target (Table 2).

Highlights:

• Hole LT-22-129, drilled at 302^o/-65^o to a vertical depth of 209.96 metres on Section L6+00S, intersected 91.26 metres* grading 13.25% Cg (from 104.90 metres to 212.15 metres**; Table 1), including:
• 36.00 metres* grading 18.30% Cg (from 112.45 metres to 154.90 metres**), and
• 25.14 metres* grading 14.83% Cg (from 164.60 metres to 194.15 metres**).
• Hole LT-22-125, drilled at 302^o/-65^o to a vertical depth of 271.84 metres on Section L4+00S intersected 94.06 metres* grading 10.45% Cg (from 110.50 metres to 223.00 metres**; Table 1), including:
• 33.65 metres* grading 16.81% Cg (from 116.90 metres to 150.55 metres**).
• Hole LT-22-126, drilled at 302^o/-64^o to a vertical depth of 225.25 metres on Section L4+50S, intersected 90.13 metres* grading 10.66% Cg (from 114.00 metres to 220.05 metres**; Table 1), including:
• 23.84 metres* grading 16.01% Cg (from 117.85 metres to 146.00 metres**), and
• 29.89 metres* grading 10.99% Cg (from 163.35 metres to 198.45 metres**).
• Hole LT-22-127, drilled at 302^o/-62^o to a vertical depth of 213.11 metres on Section L5+00S, intersected 86.21 metres* grading 10.17% Cg (from 111.00 metres to 210.00 metres**; Table 1), including:
• 19.28 metres* grading 16.51% Cg (from 120.40 metres to 142.60 metres**), and
• 16.18 metres* grading 14.19% Cg (from 168.15 metres to 186.70 metres**).
• Hole LT-22-128, drilled at 302^o/-64^o to a vertical depth of 214.69 metres on Section L5+50S intersected 67.50 metres* grading 13.50% Cg (from 110.65 metres to 189.85 metres**; Table 1), including:
• 19.98 metres* grading 18.94% Cg (from 115.10 metres to 138.60 metres**), and
• 22.07 metres* grading 17.14% Cg (from 163.00 metres to 188.80 metres**).
• Hole LT-22-173, drilled at 315^o/-88^o to a vertical depth of 313.77 metres on Section L10+50S, intersected 26.58 metres* grading 13.11% Cg (from 137.80 m to 181.80 metres**; Table 1).
• Hole LT-22-173A, drilled at 315^o/-45^o to a vertical depth of 106.09 metres on Section L10+50S intersected 24.22 metres* grading 6.90% Cg (from 51.00 metres to 71.00 metres**; Table 1).
• Hole LT-22-141, drilled at -350^o/-45^o to a vertical depth of 161.39 metres at the east end of the Southwest MOGC target on Section L0+00, intersected 20.29 metres* grading 9.71% Cg (from 189.00 metres to 211.00 metres; Table 2), including:
• 11.07 metres* grading 14.76% Cg (from 199.00 metres to 211.00 metres**).
• Hole LT-22-144, drilled at -350^o/-45^o on Sections L1+75W to a vertical depth of 104.9 metres at the east end of the Southwest MOGC target intersected 12.79 metres* grading 5.08% Cg (from 52.00 metres to 66.00 metres**) and 14.68 metres* grading 6.42% Cg (from 126.50 metres to 142.50 metres**; Table 2).

* True thickness ** Core length

To date, the Company has received graphitic carbon (Cg) assay results for 21 out of the 27 deep definition holes drilled on the MOGC deposit in 2022, along the results for the first five (5) exploration holes drilled on the Southwest MOGC target. Analytical results for deep definition drillholes LT-22-174 to 179 are pending.

"We are delighted with the results to date from our 2022 drilling program at Lac Tétépisca, and these results continue to build upon our belief in the graphite potential of the Manicouagan-Ouest Graphitic Corridor on the site," said Marc Roy, President and CEO of Focus Graphite.

Mr. Roy added: "The results released today for the deep definition holes drilled along strike of our MOGC deposit bridge the gap between the holes whose results Focus released earlier this year. Plotted together, these results now confirm the occurrence of continuous significant graphitic mineralization to a vertical depth up to 200 metres from surface, along strike of the deposit over a total distance of 950 metres. The deep definition drilling results also indicate a thickening of the graphitic mineralization below the central section of the MOGC deposit, with mineralization of at least 10% Cg over a minimum thickness of 75.0 metres intercepted at depth on all sections between L3+00S and L9+50S. We look forward to the results of the last six (6) deep definition drill holes to finalize the complete drill hole database for the MOGC deposit, a key milestone on the path to a future updated mineral resource estimate for the Lac Tétépisca project."

Geological sections showing the results of the 21 deep definition drill holes at the MOGC deposit and of the five (5) exploration drill holes at the Southwest MOGC target released by the Company in 2023, together with the results from 2014 to 2020 drilling, are available on the Company's website at www.focusgraphite.com, along with a map showing the location of the drill holes.

The five (5) exploration holes drilled at the northern end of the Southwest MOGC target whose results are also reported today (Table 2), all intersected significant graphitic mineralization (defined under note 2 below) with the best intercept recorded in hole LT-22-141 drilled on Section L0+00S, with 20.29 metres* grading 9.71% Cg (from 189.00 metres to 211.00 metres**; Table 2), including 11.07 metres* grading 14.76% Cg (from 199.00 metres to 211.00 metres**). 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. Detail structural 3-D modelling in underway to connect these two segments of the deposit.

Drill core sample preparation for the remaining six (6) deep definition holes from the 2022 deep definition drilling program is ongoing at IOS Services Géoscientifiques Inc. (IOS) laboratory facilities in Saguenay, Québec, but sample expeditions to ACTLABS and COREM for geochemical analyses have been delayed until Focus secures additional funding to continue the and complete the drill core analytical program.

Please monitor the Company's website at (www.focusgraphite.com) and regulatory filings on SEDAR (www.sedarplus.ca) for the latest news on the Company and the Lac Tétépisca project.

Table 1. Highlights of the seven (7) latest drill holes from the 2022 deep definition core drilling program at the MOCG deposit