First Phosphate applauds decision to build second wharf

Executive Summary

• First Phosphate Corp. welcomes a $57.6-million Canadian federal government investment to construct a second wharf at Port Saguenay, Quebec, which will be located adjacent to the company's planned phosphoric acid plant.
• The company has finalized an industrial land option agreement with Port Saguenay to develop a phosphoric acid plant using clean technology from Prayon SA and engineering by Ballestra SpA.
• First Phosphate recently produced commercial-grade LFP 18650 battery cells using high-purity phosphoric acid and iron powder derived from its Begin-Lamarche property, with plans to transport future products via the new port infrastructure.

Key Details

• Government Investment: The Canadian Minister of Government Transformation, Public Works and Procurement, Joel Lightbound, announced a $57.6-million investment to build a second wharf at Port Saguenay, Quebec.
• Strategic Location: The new wharf will be positioned directly adjacent to First Phosphate's planned phosphoric acid plant, facilitating the transportation of phosphate concentrate, phosphoric acid, and lithium iron phosphate (LFP) products to North American, European, and international markets.
• Land Option Agreement: First Phosphate finalized an industrial land option agreement with Port Saguenay, signed on July 18, 2025, in Montreal and Saguenay.
• Plant Development: The company plans to develop a phosphoric acid plant on the optioned lands using advanced clean technology from Prayon SA (Belgium) and implementation by Ballestra SpA (Italy).
• Infrastructure Benefits: The Port Saguenay location offers direct rail and vessel access to global markets, access to large-scale industrial infrastructure and utilities, and potential for vertical integration between upstream phosphoric acid and downstream LFP battery material production.
• Recent Production Milestone: First Phosphate recently produced commercial-grade LFP 18650 battery cells using North American critical minerals.
• Source Material: The high-purity phosphoric acid and iron powder for the LFP cells were produced using rare igneous anorthosite rock extracted from the First Phosphate Begin-Lamarche property, located 70 kilometers from Port Saguenay.
• Future Logistics: Critical minerals and intermediary products for LFP battery cells are expected to be transported to European and North American offtakers via Port Saguenay.

Notable Quotes

• "This proposed investment by the Canadian government is a most welcome development that will expand the economy of the region of Saguenay-Lac-St-Jean and bring quality jobs to the area. Most importantly, it will facilitate the commercialization of the region's natural resources, and especially First Phosphate's mineral properties that are greatly needed in the drive to onshore the LFP battery supply chain." — Armand MacKenzie, President, First Phosphate Corp.