First Phosphate Corp. Receives Accelerated 'Filon' Status from Quebec Ministry of Natural Resources and Forests

In a significant development for the Canadian mining sector, First Phosphate Corp. has been selected for 'Filon' support status by the Quebec Ministry of Natural Resources and Forests (MRNF). This accelerated status is aimed at expediting the development of the company's Bégin-Lamarche igneous rock phosphate mining project, which holds substantial strategic value for the North American lithium iron phosphate (LFP) battery supply chain.

The MRNF's Filon support initiative is designed to foster a common understanding of mining projects and accelerate their development milestones. By providing specialized support to First Phosphate, the government aims to facilitate discussions with relevant departments and agencies responsible for issuing mining authorizations or permits. This collaborative approach will enable the company to navigate the regulatory framework more efficiently, ultimately contributing to the project's timely completion.

According to Kateri Champagne Jourdain, Quebec Minister of Natural Resources and Forests, the Bégin-Lamarche project represents a pivotal opportunity for Quebec to transform its geological potential into an economic advantage. By developing a high-purity phosphate deposit intended for the battery sector, the project will help build a more innovative and resilient economy focused on future markets. The Filon support mechanism will play a crucial role in advancing this structural project, which aligns with the Quebec Strategy for the Development of Critical and Strategic Minerals 2025-2031.

First Phosphate's CEO, John Passalacqua, expressed appreciation for the government's decision to grant accelerated status to the Bégin-Lamarche project. He emphasized the project's significant strategic value in helping to onshore the LFP battery supply chain in North America. As a mineral exploration and development company, First Phosphate is committed to building a vertically integrated mine-to-market supply chain for LFP battery production, targeting key markets such as energy storage, data centers, robotics, mobility, and national security.

The Bégin-Lamarche property, located in Saguenay-Lac-Saint-Jean, Quebec, is a rare North American igneous phosphate resource that produces high-purity phosphate with very low levels of impurities. The project's development will not only contribute to the growth of Quebec's economy but also support the region's transition towards a more sustainable and innovative future. With the Filon support status, First Phosphate is well-positioned to drive the project forward, creating new opportunities for the local community and the broader mining industry.

The scientific and technical information related to First Phosphate has been reviewed and approved by Steeve Lavoie, P.Geo., the company's Chief Geologist and a Qualified Person within the meaning of National Instrument 43-101 - Standards of Disclosure for Mineral Projects (NI 43-101). This ensures that the project's development is guided by rigorous technical standards and expertise, further enhancing its potential for success.