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First Phosphate Corp. Receives Mining Research and Innovation Grant from Quebec Ministry of Natural Resources

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Saguenay, Quebec  March 4, 2024 – First Phosphate Corp. (CSE: PHOS) (OTC: FRSPF) (FSE: KD0) (“First Phosphate” or the “Company”) is pleased to have recently received a mining research and innovation grant from the Quebec Ministry of Natural Resources and Forestry (“MRNF”). The grant provides financial support to the Company in the way of $315,236 to continue mineralogical study on its apatite, ilmenite and magnetite concentrates. The project also includes the processing of the Company’s mine tailings for re-use in the cement construction industry.

“We are grateful to the Quebec Ministry of Natural Resources and Forests for this funding as we continue to build strong relationships with Quebec-based government bodies and institutions,” said Company CEO, John Passalacqua.

The Company’s objective is to see the development of a lithium iron phosphate (“LFP”) battery valley in the Saguenay-Lac-St-Jean region of Quebec, one which can service demand for LFP battery cathode active material across North America.

The company will have a table at the Canada Investment Forum at PDAC 2024 on Monday, March 4, 2024 from 12:00 EST until 17:00 EST (MTCC North Building, Room 105). Company CEO, John Passalacqua will hold a brief live presentation on the Company at 15:00 EST.

Research studies on Quebec igneous anorthosite can be found at: https://firstphosphate.com/phosphate-industry/quebecanorthosite

Details on First Phosphate’s pilot plant for the purification of Quebec igneous anorthosite into purified phosphoric acid (“PPA”) can be found at: https://firstphosphate.com/projects/ppa-production

Details on First Phosphate’s assets in the Saguenay-Lac-St-Jean region of Quebec, can be found at: https://firstphosphate.com/projects/prized-assets

Details on First Phosphate’s strategy for the creation of a fully integrated LFP battery supply chain in North America based on establishing an LFP battery valley in the Saguenay-Lac-St-Jean region of Quebec can be found at: https://firstphosphate.com/lfp-battery-strategy

The Company has also entered into a marketing agreement with NAI Interactive Ltd. (“NAI”) for a total cash consideration of $37,500+HST, paid up front, for a twelve-month period commencing March 4th, 2024. NAI is a company headquartered in British Columbia, Canada and can be reached at 604-488-8878 or info@nai500.com. NAI does not currently hold any common shares in the Company and will not receive any options to purchase securities of the Company. NAI and the Company are unrelated and unaffiliated entities. Promotional activity will occur on NAI500.com.

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