Focus Graphite Inc. announced the results of its Feasibility Study Update (FSU) for the Lac Knife Project, its 100% owned, high-grade crystalline flake graphite deposit located about 27 kilometres south-southwest of Fermont in the Côte-Nord administrative region of Québec. Next Steps: Work on the Environmental and Social Assessment (ESIA) study is scheduled to resume in March and be completed by the end of 2023, while the Mine Closure Plan is planned for submission in the fall of 2023. Focus continues to communicate, meet, and listen to local communities and will be stepping up these efforts now that the feasibility study is completed, and the scale and impacts of the Project are better understood.

DRA's financial model does not include potential value-added, purified, spheronized, and coated battery- grade graphite in its financial and operational calculations. The exchange rate used is $0.736 US Dollars per Canadian Dollar. The financial analysis in the FS study used a five year average price of $1,679 per tonne, which is a weighted average for the various graphite concentrates that are classified by flake size and valued by their carbon content.