First Phosphate pleased with cell testing results

Executive Summary

• First Phosphate Corp. announced successful commercial-grade testing of PHOS-LFP 18650 battery cells produced using North American-sourced critical minerals, validating its mission to localize the LFP battery supply chain.
• The cells demonstrated performance consistent with commercial specifications, including stable capacity retention, minimal variability, and favorable cycle life projections.
• The release details the specific North American supply chain partners for phosphate, iron, lithium, and graphite, highlighting a vertically integrated approach from mining to cell assembly.

Key Details

• Product Performance:
  • Capacity: Cells demonstrated consistent capacity of just over 1.6 Ah, meeting original manufacturing specifications and aligning with similar commercially produced LFP 18650 cells.
  • Discharge Rates: Retention of capacity remained consistent at increasing discharge rates; good relative voltage stability observed on full discharge even up to a 5 C rate.
  • Cycle Life: Projected to retain at least 80% of initial capacity after 2,000 discharge cycles.
  • Variability: Exhibited consistent and stable performance with minimal cell-to-cell variability.
• Supply Chain & Material Sources:
  • Phosphate: High-purity phosphoric acid from igneous phosphate concentrate extracted from the Begin-Lamarche property (Quebec, Canada), processed by Prayon Technologies (Belgium).
  • Iron: Iron powder from magnetite concentrate from the Begin-Lamarche property, processed by GKN Hoeganaes (Tennessee, USA).
  • Lithium: Lithium carbonate produced by Century Lithium Corp. (TSX-V: LCE) from operations in Nevada.
  • Graphite: Natural graphite-based active anode material produced by Nouveau Monde Graphite (NYSE: NMG) (TSX: NMG) from operations in Quebec.
• Production & Testing:
  • Cells were assembled and tested by Ultion Technologies Inc. (Las Vegas, Nev.).
  • Production process and cell capacity testing graphics are available on the company website.
• Event Context:
  • Results were unveiled by CEO John Passalacqua at the Oreba3 International Conference on Olivines for Rechargeable Batteries in Montreal (July 6-8, 2025).
• Administrative Note:
  • The company granted 24,000 restricted share units (RSUs) to a consultant, vesting on Feb. 28, 2026, subject to a four-month hold period.

Notable Quotes

• "The production of these commercial grade PHOS-LFP 18650 battery cells shows that North America does have the ability to support an end-to-end LFP battery supply chain using our own critical mineral inputs," says First Phosphate chief executive officer, John Passalacqua.