Mr. Armand MacKenzie reports

FIRST PHOSPHATE SIGNS AGREEMENTS FOR $4.84 MILLION NON-REPAYABLE CONTRIBUTIONS WITH THE GOVERNMENT OF CANADA FOR ROAD INFRASTRUCTURE AND POWER TRANSMISSION LINE

First Phosphate Corp. has finalized additional agreements for a total of $4.84-million in non-repayable contributions from the government of Canada through Natural Resources Canada's First and Last Mile Fund for the development of the Begin-Lamarche phosphate deposit.

These contributions for $4.84-million comprise two components (power transmission infrastructure and road infrastructure) and build, in addition to the $16.7-million in funding already made available by NRCan in March, 2026, through the Global Partnerships Initiative to support the advancement of First Phosphate's Begin-Lamarche deposit.

Power transmission line for the sustainable development of the Begin-Lamarche phosphate deposit

First Phosphate will conduct a study to confirm the viability of clean energy infrastructure, including site selection and the identification of connection corridors, a feasibility study, and the design of a 161-kilovolt transmission line and substations in the Saguenay-Lac-Saint-Jean region. The project will include technical analyses, cost estimates, environmental studies, and public and indigenous consultation. The total non-repayable contribution for this project will be approximately $3.07-million.

Road infrastructure for the responsible development of the Begin-Lamarche phosphate deposit

First Phosphate will carry out the preparatory work necessary for the construction of a new access road and will identify the preferred option for upgrading bypass roads to support transportation between the Begin-Lamarche phosphate mine and regional infrastructure, including rail links and the Port of Saguenay. The project will include prefeasibility and feasibility studies (technical, environmental and economic), design of the work, and required environmental studies, as well as a traffic analysis and public and indigenous consultation. The total non-repayable contribution for this project will be approximately $1.77-million.

"Canada has what the world wants, and we are building the infrastructure required to get those resources to diverse markets," said Tim Hodgson, Minister of Energy and Natural Resources. "Investments like these help unlock our full potential by connecting projects to the infrastructure they need to move forward -- creating jobs, strengthening supply chains and delivering lasting prosperity for Quebec and Canada."

"Canada and Quebec have an opportunity to become a reliable supplier of the critical minerals the world needs for the technologies and industries of the future," said Claude Guay, parliamentary secretary to the Minister of Energy and Natural Resources. "We are supporting critical minerals projects in Saguenay-Lac-Saint-Jean and beyond to strengthen Canadian supply chains, create economic opportunities and build Canada strong."

"This support from the government of Canada for First Phosphate sends a strong message to our investors and partners in Quebec, Canada, and internationally," said Armand MacKenzie, president of First Phosphate. "It reinforces confidence in our ability to carry out this strategic mining project and deliver our high-purity igneous phosphate to the market on schedule."

These projects will support the production of critical minerals in the Saguenay-Lac-Saint-Jean region of Quebec and address gaps in clean energy and transportation infrastructure that limit the production and expansion of critical minerals in the Saguenay-Lac-Saint-Jean region of Quebec. The financial contribution covers eligible activities planned through 2030 in accordance with the terms of the agreement.

Qualified person

The scientific and technical disclosure for First Phosphate included in this news release has been reviewed and approved by Steeve Lavoie, PGeo. Mr. Lavoie is chief geologist of First Phosphate and a qualified person under National Instrument 43-101 (Standards of Disclosure of Mineral Projects).

About First Phosphate Corp.

First Phosphate is a mineral exploration and development and clean technology company dedicated to building and reshoring a vertically integrated mine-to-market supply chain for the production of LFP batteries in North America. Target markets include energy storage, data centres, robotics, mobility and national security.

First Phosphate's flagship Begin-Lamarche property, located in Saguenay-Lac-Saint-Jean, Quebec, Canada, represents a rare North American igneous phosphate resource producing high-purity phosphate characterized by very low levels of impurities.

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