First Phosphate Unveils High-Quality Igneous Phosphate Deposit at Bégin-Lamarche Project, Canada

First Phosphate Corp. has successfully concluded its drilling activity at the Bégin-Lamarche project. The company has now finalized data collection and analysis from the exploration phase.

The 99-hole drill program, encompassing 25,929 meters on the Bégin-Lamarche project, has revealed a substantial high-quality igneous phosphate deposit. Drilling results indicate continuous phosphate mineralization extending over 2,400 meters across three distinct mineralized zones. Following these promising findings, a NI 43-101 resource estimate is now in progress. This will be promptly succeeded by a Preliminary Economic Assessment (PEA) to evaluate the deposit's economic viability and development potential, marking a significant step forward in the project’s advancement.

John Passalacqua, CEO of First Phosphate, expressed satisfaction with the recent drilling campaign, stating that it has confirmed the presence of a high-quality igneous phosphate deposit in line with their expectations. The deposit is located in a logistically advantageous area, just 70 km from the deep-water port of Saguenay, Quebec. Passalacqua also announced that a 43-101 resource estimate is underway and expected in the coming months, followed by a Preliminary Economic Assessment (PEA). This progress marks a significant step in advancing the project and positioning it for future development.

A total of 23 drill holes have been completed in the Mountain Zone, extending 5,023 meters. This zone has demonstrated phosphate grades exceeding 10% P2O5 over widths ranging from 7 to 99 meters. The mineralized zones in the Mountain Zone exhibit a thickness of up to 177 meters. Additionally, the area contains several veins of massive apatite, with thicknesses reaching up to 2 meters. To date, drilling in the Mountain Zone has covered a total length of 250 meters, revealing significant potential for further exploration and development.

The Southern Zone was extensively drilled with 57 holes spaced 100 meters apart, covering a length of 1,700 meters and totaling 15,219 meters. The results from this drilling reveal continuous phosphate mineralization with widths exceeding 100 meters, demonstrating the significant extent and quality of the deposit in this area.

First Phosphate is a mineral development firm focused on the extraction and refinement of phosphate to produce cathode active material (CAM). CAM is further used for lithium iron phosphate (LFP) batteries. The company is dedicated to achieving superior purity standards while upholding rigorous ESG criteria and minimizing its projected carbon footprint. First Phosphate's strategic goal is to vertically integrate its operations, establishing a direct connection between its mining activities and the supply chains of leading North American LFP battery manufacturers, ensuring a reliable and secure source of battery-grade LFP CAM.

The company holds over 1,500 square kilometers of royalty-free, district-scale land claims in the Saguenay–Lac-St-Jean Region of Quebec, Canada, which are currently under active development. These properties feature rare anorthosite igneous phosphate rock, known for producing high-purity phosphate material with minimal concentrations of harmful elements. This strategic asset positions First Phosphate to meet the growing demand for high-quality phosphate in the LFP battery industry while ensuring environmental and operational excellence.