Focus Graphite Files Lac Knife Graphite Project Feasibility Study Technical Report

Results position Focus Graphite as a potentially unique North American supplier of high-purity natural flake graphite concentrates for use in high-performance Li-Ion batteries.

KINGSTON, ON / ACCESSWIRE / April 19, 2023 / Focus Graphite Inc. (TSX.V:FMS)(OTCQX:FCSMF)(FRANKFURT:FKC) ("Focus" or the "Company") today announced the filing of a National Instrument 43-101 ("NI 43-101") technical report (the "Technical Report") in support of the Feasibility Study Update (FSU) for the Company's Lac Knife high-grade crystalline flake graphite project located near Fermont, Québec, on the Nitassinan (ancestral lands) of the community of Innu Takuaikan Uashat mak Mani-utenam (ITUM).

The Technical Report was prepared in accordance with Canadian Securities Administrators' NI 43-101 Standards of Disclosure for Mineral Projects and Form 43-101F1, and is available for review on SEDAR (www.sedar.com) and on Focus' website (www.focusgraphite.com).

The FSU was prepared by DRA Global Limited with assistance from various independent technical consultants.

"With the Feasibility Study now completed, we are set to continue the process of de-risking the Project in the near to mid-term," said Marc Roy, President and CEO of Focus. "This work includes: consultation with ITUM, the local First Nations community on whose Nitassinan Lac Knife is situated, as well as other communities and stakeholders that could be impacted by the Project; completion of the environmental and social impact assessment (ESIA) study; and guiding the Project through the formal Québec government environmental review and permitting process."

Mr. Roy continued, In particular, the Feasibility Study opens the door to secure another level of Project financing that will enable us to complete the ESIA and government environmental review process, and then advance the Lac Knife project to the detailed engineering phase. We are currently evaluating various financing options."

FSU highlights

The highlights of the Feasibility Study Update, as reported March 6, 2023, have been slightly adjusted but have no material affects on the profitability of the Project.

Table 1 - Lac Knife Updated Feasibility Study Financial Highlights

Description	March 6, 2023	April 17, 2023
Pre-Tax NPV @ 8% discount rate ($M CAD)	$500.9