First Phosphate Corp. (CSE: PHOS) (OTCQB: FRSPF) (FSE: KD0) announces that its recent white paper submission to the United States Department of Defense Defense Industrial Base Consortium for securing a North American phosphate supply of lithium iron phosphate cathode active materials received a “Met” rating. A “Met” rating, which does not indicate the white paper has been selected for award at this time, means that the white paper is eligible for award for 36 months if the DoD has a need for the solution and funding becomes available.

The DIBC’s rationale for the “Met” assessment is as follows:

• First Phosphate’s solution appears to be technically and economically viable and with Defense Production Act funding could become the first phosphate production facility strictly for LFP CAM in North America.

• The schedule/timeframe and cost rough order of magnitude are realistic and feasible as long as First Phosphate is able to secure the funding identified. DPA Title III funds are likely the most cost-effective, expedient, and practical alternative for the need.

• The domestic phosphate supply is primarily used for the food and fertilizer industries, and industry will likely not meet the needed capacity for the battery industry without DPA Title III assistance. DPA Title III funds are likely the most cost-effective, expedient, and practical alternative for the need.

• Phosphate, particularly for use in LFP CAM, is essential to national defense. Demand for LFP batteries is likely to continue to increase and having a domestic source greatly reduces dependency on China and their control over the LFP market.

The DIBC Other Transaction Authority (OTA) aims to accelerate the DoD’s access to commercial solutions for defense requirements. The DIBC OTA vehicle is utilized by the Manufacturing Capability Expansion and Investment Prioritization (MCEIP) directorate of the DoD, which addresses defense supply chain issues, industrial workforce development, critical production sustainability, commercialization of R&D efforts, and the rapid scaling of emerging technologies to build a robust, resilient Defense Industrial Base.

About First Phosphate Corp

First Phosphate is a mineral development company dedicated to producing high-purity phosphate for the LFP battery industry. The Company’s vertically integrated approach connects sustainable phosphate mining in Quebec with North American battery supply chains, targeting the energy storage, data center, robotics, mobility, and defense sectors. First Phosphate’s flagship Bégin-Lamarche Property in Saguenay-Lac-Saint-Jean is one of North America’s rare igneous phosphate resources, yielding high-purity phosphate with minimal impurities.