First Canadian Graphite Closes Property Option Agreement

First Canadian Graphite Inc. (TSXV:FCI)(OTCQB:GRAPF) has secured regulatory approval for a property option agreement, aimed at acquiring a 100% interest in 51 mining claims in Northern Quebec. The agreement requires the company to pay $30,000 in cash, issue 1,200,000 common shares, and invest $500,000 in exploration by the third anniversary. Additional milestone bonuses include $100,000 after a Preliminary Economic Assessment, $250,000 for a feasibility study, and $500,000 upon commercial production.

The Lac Guéret South Project, bordering the Nouveau Monde Graphite's Uatnan project, shows promising high-grade graphite deposits with substantial exploration potential. The company plans to advance towards a Preliminary Economic Assessment, supported by more than $10 million in investments so far. Engagement with the Pessamit Innu First Nation is ongoing to ensure respectful development of the project.