First Phosphate Corp. (CSE: PHOS) (OTC: FRSPF) (FSE: KD0) is pleased to announce that it has confirmed a new high-grade discovery 500 m from the existing northern zone of its Bégin-Lamarche project located in the region of Saguenay-Lac-St-Jean, Quebec, Canada. The original discovery of these areas was made in the fall of 2022 during a prospection campaign and was confirmed last fall with 26 grab samples returning high-grade P₂O₅ (phosphate).

The Larouche area also continues to return high-grade analyses with one sample grading as high as 39.45% P₂O₅ (phosphate) in an irregular layer of pure apatite (the host mineral which contains phosphate). At this level of purity, the mineral would be considered direct shipping ore.

Bégin-Lamarche Project Results

Grab sampling revealed a high grade phosphate area 500m north of the existing Northern Zone. This new zone, named the Mountain Zone, is about 350m long by 175m wide (See Figure 1). From field observation, the rock type is nelsonitic peridotite which is the most favorable rock type where phosphate is found on the property. A total of 26 grab samples were taken in this area, most of which, returned grades of between 7.17% and 17.83% P₂O₅ (phosphate). The average of the 26 samples was 10.6% P₂O₅. The assay results are presented in Table 1.

A second new zone, named the Northwestern zone, was also discovered west of the existing Northern Zone from which 4 of 8 samples returned grades of over 10% P₂O₅.

“Begin-Lamarche continues to show promise in delivering another significant phosphate horizon for the Company,” explained First Phosphate CEO, John Passalacqua. “What is more, the Begin-Lamarche property is found at 70 km from the deep-sea port of Saguenay and brings with it tremendous logistical advantages.”

Figure 1 – Location of the New Mountain and Northwestern Zones

Table 1 – Assay Results for the New Mountain Zone

Larouche Project Results

Field reconnaissance and sampling in the Larouche area also revealed high grade phosphate. As noted above, one sample returned 39.45% P₂O₅ (See Figure 2). This represents the highest ever phosphate sample found by the Company. The sample comes from an irregular layer found of almost pure apatite (the host mineral which contains phosphate). At this level of purity, the mineral would be considered DSO. Preliminary geological indications suggest that these layers could be flat-lying and therefore open at substantial potential depth. Other results from the samples in this area show high grade phosphate values up to 23.1% P₂O₅ (See Table 2). To date, field work has outlined phosphate layers of a length of up to 760m. The width of these layers is not fully known at this time due to their flat-lying geometry. Only further drilling will be able determine the full width of the layers. A drill permit application has been made for drilling in this area.

Figure 2 – Location of Samples Found in the Larouche Area

Table 2 – Assay Results from the Larouche Area

Figure 3 – Location of First Phosphate Projects in the Saguenay-Lac-St-Jean Area

Qualified Person

The scientific and technical disclosure for First Phosphate included in this news release have been reviewed and approved by Gilles Laverdière, P.Geo. Mr. Laverdière is the Chief Geologist of the Company and a Qualified Person under National Instrument 43-101 Standards of Disclosure of Mineral Projects (“NI 43-101”) and has verified the data disclosed in this news release.

About First Phosphate Corp.

First Phosphate is a mineral development company fully dedicated to extracting and purifying phosphate for the production of cathode active material for the Lithium Iron Phosphate battery industry. First Phosphate is committed to producing at high purity level, in responsible manner and with low anticipated carbon footprint. First Phosphate plans to vertically integrate from mine source directly into the supply chains of major North American LFP battery producers that require battery grade LFP cathode active material emanating from a consistent and secure supply source. First Phosphate holds over 1,500 sq. km of royalty-free district-scale land claims in the Saguenay-Lac-St-Jean Region of Quebec, Canada that it is actively developing. First Phosphate properties consist of rare anorthosite igneous phosphate rock that generally yields high purity phosphate material devoid of high concentrations of harmful elements.