First Phosphate Applauds Government of Canada Investment to Build Second Wharf at Port Saguenay

Executive Summary

• The Canadian Minister of Government Transformation announced a C$57.6 million investment to construct a second wharf at Port Saguenay, directly adjacent to First Phosphate’s planned phosphoric‑acid plant.
• First Phosphate finalized an industrial land option agreement for the site, securing strategic rail and vessel access for future phosphate concentrate, phosphoric acid, and lithium‑iron‑phosphate (LFP) product shipments.
• The company has already produced commercial‑grade LFP 18650 battery cells using North‑American critical minerals from its Bégin‑Lamarche property, underscoring progress toward an on‑shored mine‑to‑market LFP supply chain.

Key Details

• Government Investment: C$57.6 million earmarked for the construction of a second wharf at Port Saguenay, Quebec.
• Strategic Benefit: Wharf location will enable efficient transport of future phosphate concentrate, phosphoric acid, and LFP products to North American, European, and global markets.
• Land Option Agreement: Signed 18 July 2025 (Montreal & Saguenay) with Port Saguenay; covers land for a phosphoric‑acid plant using clean technology from Prayon SA (Belgium) and engineering by Ballestra S.p.A. (Italy).
• Infrastructure Advantages: Direct rail and vessel access, large‑scale industrial utilities, expansion lands, and potential vertical integration of upstream phosphoric acid with downstream LFP battery material production.
• Recent Operational Milestone: Commercial‑grade LFP 18650 cells produced using high‑purity phosphoric acid and iron powder derived from rare igneous anorthosite rock at the Bégin‑Lamarche property (≈70 km from Port Saguenay).
• President’s Comment: “This proposed investment … will expand the economy of the region … and facilitate the commercialization of the region's natural resources, especially First Phosphate's mineral properties needed to onshore the LFP battery supply chain.”

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

All forward‑looking statements are subject to risks and uncertainties as detailed in the release.