Arianne Phosphate, a company in the development stage focused on phosphate mining, advancing the Lac à Paul project in Quebec’s Saguenay-Lac-Saint-Jean region, is delighted to unveil the findings from its prefeasibility study (“PFS”). As detailed in the Company’s Press Release of January 30, 2024, Arianne initiated the PFS to evaluate the feasibility of constructing a purified phosphoric acid (“PPA”) plant in Quebec's Saguenay region. The plant aims to convert igneous-based phosphate concentrate into battery-grade phosphoric acid for use in lithium-iron-phosphate (“LFP”) batteries.

According to studies, the proposed downstream facility would have the capacity to produce 350,000 tonnes annually of purified phosphoric acid (PPA) on a 100% P2O5 basis, positioning it as the largest producer outside of China. At this capacity, Arianne’s output could potentially fulfill approximately 350 GWh of annual demand from Western gigafactories.

Furthermore, Arianne’s plant is projected to annually produce 220,000 tonnes (100% P2O5 basis) of secondary phosphoric acid, utilized in the manufacturing of specialty fertilizers and animal feeds. The market for this particular product is anticipated to face significant constraints, as existing producers are scaling back production due to operational limitations.

Brian Ostroff, President of Arianne Phosphate, commented, "Rare opportunities like this one are exceptional. The availability of high-quality phosphate concentrate, the economic feasibility of producing purified phosphoric acid (PPA) for specialized applications, and the emergence and growth of the LFP battery sector offer highly compelling economic prospects, with a pre-tax NPV exceeding US$4.5 billion. Additionally, the study highlights the potential for our Lac à Paul mine to serve local customers. When considering both projects holistically, Arianne stands to deliver substantial benefits to its stakeholders and unlock considerable value for its shareholders."

Arianne Phosphate Inc. is advancing the development of the Lac à Paul phosphate deposits, situated about 200 km north of Quebec's Saguenay/Lac St. Jean region in Canada. These deposits are poised to yield a high-grade igneous apatite concentrate, boasting a P2O5 grade of 39% with minimal contaminants, as outlined in the Feasibility Study released in 2013. Currently, the company has 202,890,210 shares issued and outstanding.

Established in 1997 as Arianne Resources Inc., Arianne Phosphate Inc. (listed on TSX-V: DAN and OTC: DRRSF) is a Canadian firm focused on advancing its Lac à Paul mining project, recognized as one of the most significant phosphate projects globally. Arianne Phosphate aims to contribute to meeting the increasing global demand for food.