MONTREAL, QC / ACCESS Newswire / May 20, 2026 / First Canadian Graphite Inc. (TSXV:FCI)(OTCQB:GRAPF) reports positive results from an airborne time-domain electromagnetic (TDEM) and magnetic survey conducted, completing 857 line-kilometres across seven priority zones at the Company’s Lac Guéret South property, located 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. The results outlined numerous conductive high priority anomalies and favourable geological conditions across all seven surveyed blocks.
About Lac Guéret South
The Lac Guéret South high-grade graphite project (formerly the Berkwood Graphite District) in Québec borders the Uatnan graphite deposit of Nouveau Monde. It features surface-exposed graphite and an NI 43-101(1) resource at Zone 1 containing:
-
1.76 million tonnes indicated at 17% graphitic carbon (Cg) and
-
1.53 million tonnes inferred at 16.4% Cg.
Summary of airborne survey results by Zone:
-
Zone 1: Numerous TDEM anomalies identified, as well as the strongest magnetic anomaly located. Conductive lineaments generally correlate with high magnetics.
-
Zone 3: High magnetics with numerous TDEM anomalies.
-
Zone 4: Highest density of TDEM anomalies characteristic of graphite and sulphide conductors in the bedrock.
-
Zone 5: Numerous TDEM anomalies, including a notable cluster associated with folded linear features.
-
Zone 6: Numerous TDEM anomalies, mostly trending NW-SE, with significant deformation and folding noted, particularly in the southeast.
-
Zone 9: The area displays several magnetic lineaments, with some conductive sources showing positive correlation with magnetic features.
-
Zone 13: The survey revealed complex magnetic patterns and several high-conductance targets.
The survey used both high-sensitivity magnetic sensors and TDEM technology to find conductive materials like graphite or sulphides. Magnetic data helps map geological formations and their structural context. Because graphite conducts electricity effectively, electromagnetic (EM) surveys are especially useful for locating potential graphite mineralization in this environment. Please refer to Figure 1 below which highlights anomalies with their strike length and width.
1 – The mineral resource estimates above are described in the technical report entitled, NI 43-101 Technical Report Mineral Resource Estimate on the Lac Gueret South Graphite Property, Quebec, Canada. With an Effective date of June 30th, 2019, by Edward Lyons, PGeo., Florent Baril, ing., and Claude Duplessis, ing.
Figure 1: EM anomalies from 2026 Airborne Geophysics Survey of the Lac Guéret South Project
The data collected during the survey is currently being modelized and interpreted by Marc Auclair of Baseline Geophysics. In parallel, the Company initiated a regional-scale compilation of public data available through the MRNF as well as of the data collected by previous management from the last decade of exploration work. This compilation will serve as the base for the preparation of a geological mapping and hammer prospecting program planned for the summer of 2026. In the fall of 2026, the Company will launch its first diamond drilling program on the most promising surface and modelized graphitic targets, as soon as drill permits have been obtained.
“These survey results from Lac Guéret South are very encouraging, with conductors identified throughout all zones within our claim area,” said John LaGourgue, First Canadian Graphite’s Chief Executive Officer. “Not only do we see potential for expansion at Zone 1, but also across six additional high-priority zones. This information will now be used to plan our fully-funded summer exploration program, which we look forward to starting in the coming weeks.”
Technical Survey Specifications
The survey used an Airbus H125 helicopter with a Geometrics G-822A Cesium magnetometer and a ProspecTEM EM system featuring a 5.6-metre transmitter loop sending 2.75-ms pulses at 30 Hz. A GEM GSM-19 Overhauser magnetometer served as the ground base station for magnetic corrections. Navigation was managed by Omnistar GPS and Sanborn IMPAC, achieving up to 5-metre accuracy. Flights followed 100-metre traverse and 750-metre control spacing, averaging 85 metres above ground; sensors were towed at 60 and 35 metres for magnetics and EM, respectively, at 120 kph. Data was processed with lag corrections and statistical leveling, generating 20-metre grid cells.
Qualified Person
The technical information in this news release has been reviewed and approved by Antoine Fournier, P.Geo., Vice President Exploration for First Canadian Graphite and a Qualified Person under National Instrument 43-101 – Standards of Disclosure for Mineral Projects.
The Company has filed an NI 43-101 Technical Report with a detailed Mineral Resource Estimate for the Lac Guéret South Graphite Property (formerly known as the Berkwood Project) completed by independent experts Edward Lyons (Tekhne Resources), Florent Baril (Bumigeme), and Claude Duplessis (Goldminds Geoservices). For the full report and updates visit https://firstcanadiangraphite.com/or under the Company’s profile at the SEDAR website at www.sedarplus.ca.
ABOUT FIRST CANADIAN GRAPHITE INC.
First Canadian Graphite Inc. 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 NI 43-101 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 anomalies 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, First Canadian Graphite 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
First Canadian 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.
Forward-Looking Statements
This press release contains forward-looking statements. These statements are based on assumptions and beliefs of management and involve risks and uncertainties, which may cause actual results to differ materially from those anticipated.
On Behalf of the Board of Directors
First Canadian Graphite Inc.
SIGNED: “John LaGourgue”
John LaGourgue, CEO & Director
FOR MORE INFORMATION, PLEASE CONTACT:
info@FCGraphite.com
(604) 838-3376
https://firstcanadiangraphite.com/
Cautionary Note Regarding Forward-Looking Information
This news release contains “forward-looking information” within the meaning of the applicable Canadian securities legislation that is based on expectations, estimates, projections and interpretations as at the date of this news release. The information in this news release about the Company; and any other information herein that is not a historical fact may be “forward-looking information” (“FLI”). All statements, other than statements of historical fact, are FLI and can be identified by the use of statements that include words such as “anticipates”, “plans”, “continues”, “estimates”, “expects”, “may”, “will”, “projects”, “predicts”, “proposes”, “potential”, “target”, “implement”, “scheduled”, “intends”, “could”, “might”, “should”, “believe” and similar words or expressions. FLI in this new release includes but is not limited to the Company’s ability to successfully fund or remain fully funded for the implementation of its business strategy and for exploration of any of its projects (including from the capital markets) and the expected timing of announcements in this regard. FLI involves known and unknown risks, assumptions and other factors that may cause actual results or performance to differ materially.
The FLI in this news release reflects the Company’s current views about future events, and while considered reasonable by the Company at this time, are inherently subject to significant uncertainties and contingencies. Accordingly, there can be no certainty that they will accurately reflect actual results. Assumptions upon which such FLI is based include, without limitation: the Company’s, ability to implement its overall business strategy and to fund, explore, advance and develop each of its projects, including results therefrom and timing thereof, the impact of increasing competition in the mineral exploration business, including the Company’s competitive position in the industry, and general economic conditions, including in relation to currency controls and interest rate fluctuations.
The FLI contained in this news release are expressly qualified in their entirety by this cautionary statement, the “Forward-Looking Statements” section contained in the Company’s most recent management’s discussion and analysis (MD&A), which is available on SEDAR+ at www.sedarplus.ca. All FLI in this news release are made as of the date of this news release. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on such forward-looking information. The Company does not undertake to update or revise any forward-looking information contained herein to reflect new events or circumstances, except as may be required by applicable securities laws.
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
View the original press release on ACCESS Newswire
