First Phosphate to begin drilling at Begin-Lamarche

Mr. John Passalacqua reports FIRST PHOSPHATE ACCELERATES 30,000 METRE DRILLING PROGRAM TO PROVIDE FINAL GEOLOGICAL MODEL FOR ITS BEGIN-LAMARCHE IGNEOUS PHOSPHATE PROPERTY First Phosphate Corp. will undertake a 30,000-metre accelerated drill program at its Begin-Lamarche property in Saguenay-Lac-Saint-Jean, Quebec, Canada, commencing this month. The drilling program is expected to build on the company's initial resource estimate and to confirm the final geological model for the property. A full and comprehensive understanding of the deposit is anticipated after completion of this drill program. The company's initial resource estimate, effective Sept. 9, 2024, is available on the company's website. "The Begin-Lamarche property is located near existing infrastructure, skilled work force and at only [approximately] 70-kilometre driving distance from the deep-sea port of Saguenay and our eventual secondary and tertiary phosphate processing facilities," explained John Passalacqua, chief executive officer of First Phosphate "We have Begin-Lamarche on an accelerated development path to support potential full vertical integration of the company's future lithium-iron-phosphate (LFP) cathode active material (CAM) operations in Saguenay-Lac-Saint-Jean, Quebec." The campaign will encompass the entire 2.5-kilometre-long known phosphate mineralization zone at 50-metre-by-50-metre intervals. The drill program will begin with two drill rigs in the coming weeks and increase up to four rigs by mid-November, with expected completion by April, 2026. The drill program is fully financed by the company's recent financings, and all drill and work authorizations are in place. The campaign will be managed by Laurentia Exploration of Jonquiere, Que. Drilling operations will be conducted by First Nations Drilling of Mashteuiatsh, Que., and Forages Diafor of Riviere-Heva, Que. First Phosphate's proposed secondary phosphate processing plant is to be located at the port of Saguenay and very close to the company's intended LFP CAM material production plant in La Baie, Que. The Begin-Lamarche igneous phosphate property is located next to major paved highway and at only approximately 70-kilometre driving distance from both the deep-sea port of Saguenay and La Baie, Que., for eventual full vertical integration of mining and advanced processing of high-purity igneous phosphate into LFP CAM to support the onshoring of the North American LFP battery industry. First Phosphate has recently produced perhaps the first-ever commercial-grade LFP 18650 battery cells using North American critical minerals. The high-purity phosphoric acid and iron powder for these LFP 18650 battery cells were produced using rare igneous anorthosite rock extracted from First Phosphate's Begin-Lamarche property in the Saguenay-Lac-Saint-Jean region of Quebec, Canada. Qualified person The scientific and technical information contained in this press release has been reviewed and approved by Gilles Laverdiere, PGeo. Mr. Laverdiere is chief geologist of First Phosphate and a qualified person as defined under National Instrument 43-101, Standards of Disclosure for Mineral Projects. About First Phosphate Corp. First Phosphate is a mineral development and clean-technology company dedicated to building and onshoring a vertically integrated mine-to-market lithium-iron-phosphate (LFP) battery supply chain for North America. Target markets include energy storage, data centres, robotics, mobility and defence. First Phosphate's flagship Begin-Lamarche property in Saguenay-Lac-Saint-Jean, Quebec, Canada, is a North American rare igneous phosphate resource yielding high-purity phosphate with minimal impurities. We seek Safe Harbor.