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, Quebec, 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 Quebec 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.
About DRA Global Limited
DRA Global Limited (ASX: DRA | JSE: DRA) (DRA) is a multi-disciplinary consulting, engineering, project delivery and operations management group predominantly focused on the mining and minerals resources sector. DRA has an extensive global track record, spanning more than three decades and more than 7,500 studies and projects as well as operations, maintenance, and optimisation solutions across a wide range of commodities.
DRA has expertise in mining, minerals and metals processing and related non-process infrastructure including sustainability, water and energy solutions for the mining industry. DRA delivers advisory, engineering and project delivery services throughout the capital project lifecycle from concept through to operational readiness and commissioning as well as ongoing operations, maintenance, and shutdown services.
DRA, headquartered in Perth, Australia, services its global customer base through 20 offices across Asia-Pacific, North and South America, Europe, Middle East, and Africa.
About Focus Graphite
Focus Graphite Inc. is an exploration and development company that seeks to produce flake graphite concentrate at its wholly owned Lac Knife and Lac Tetepisca flake graphite projects located in the Cote-Nord administrative region of Quebec. As part of its mission to build long-term, sustainable shareholder value, Focus is also evaluating the feasibility of producing value-added specialty graphite products, including battery-grade spherical graphite. Focus Graphite is a technology-oriented graphite development company with a vision for building long-term, sustainable shareholder value. Focus also holds an equity position in graphene applications developer Grafoid Inc. Focus is committed to operating in a socially, environmentally and ethically responsible manner.
Contact:
Tel: (613) 581-4040
Forward-Looking Statements
This press release contains 'forward-looking information' within the meaning of Canadian securities legislation. All information contained herein that is not clearly historical in nature may constitute forward-looking information, including references to the plans and project of the Company such as proceeding with production at the Company's Project, proceeding with permitting and environmental studies at Lac Knife, and other plans outlined in this press release. Generally, such forward-looking information can be identified by the use of forward-looking terminology such as 'potential', 'high-potential', 'expected', 'optimistic', 'looking forward', 'moving forward', or variations of such words and phrases or state that certain actions, events or results 'may', 'could', 'would' or 'might'. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information, including but not limited to: (i) volatile stock price; (ii) the general global markets and economic conditions; (iii) the possibility of write-downs and impairments; (iv) the risk associated with exploration, development and operations of mineral deposits; (v) the risk associated with establishing title to mineral properties and assets; (vi) fluctuations in commodity prices; (vii) the risks associated with uninsurable risks arising during the course of exploration, development and production; (viii) competition faced by the issuer in securing purchasers, off-taker markets, clients and experienced personnel and financing; (ix) access to adequate infrastructure to support mining, processing, development and exploration activities; (x) the risks associated with changes in the mining regulatory regime governing the issuer; (xi) the risks associated with the various environmental regulations the issuer is subject to; (xii) risks related to regulatory and permitting delays; (xiii) risks related to potential conflicts of interest; (xiv) the reliance on key personnel; (xv) liquidity risks; (xvi) the risk of litigation and (xvii) risk management.
Forward-looking information is based on assumptions management believes to be reasonable at the time such statements are made, including but not limited to, continued exploration activities, no material adverse change in metal prices, exploration, and development plans to proceed in accordance with plans and such plans to achieve their stated expected outcomes, receipt of required regulatory approval, and such other assumptions and factors as set out herein. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in the forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such forward-looking information. Such forward-looking information has been provided for the purpose of assisting investors in understanding the Company's business, operations and exploration plans and may not be appropriate for other purposes. Accordingly, readers should not place undue reliance on forward-looking information. Forward-looking information is given as of the date of this press release, and the Company does not undertake to update such forward-looking information except in accordance with applicable securities laws.
FOCUS GRAPHITE INC. 
