Saguenay, Canada – Newsfile Corp. – February 7, 2023 – First Phosphate Corp. (“First Phosphate” or the “Company”) is pleased to report that it has received remaining phosphate assay results for its Bégin-Lamarche project located in the region of Saguenay-Lac-St-Jean, Quebec. Highlights of the most recent surface sampling include:

  • Multiple high grade surface grab samples of up to 18.96% P2O5 (phosphate) and 6.81% TiO2 (titanium).
  • Current results from Target 1 contain rich and thick layers of phosphate rock that extend within the original strike zone. 70 surface sample results confirm the high grade nature of the phosphate discovery with 30% of assays grading over 10% P2O5.
  • Together with earlier surface sampling and magnetic surveying, a strike zone of 2.5 km by 400 m containing rich phosphate rock layers can be delineated within the Target 1 sector.
  • A new discovery was made on Target 3 where the results of 38 grab samples in a 30-60 m wide nelsonite produced multiple phosphate assays of over 10% P2O5. This target is located approximately 3,000 m to the south of Target 1. Magnetic surveying shows that Target 1 and Target 3 might be aligned and form part of an even further extended strike zone.
  • Sampling reveals another high grade phosphate area on Target 8 (Larouche) with up to 20.52% P2O5 and 9.10% TiO2. 6 of the 19 surface grab samples taken at Target 8 revealed assay results of over 10% P2O5.
  • Analysis of 43 trace elements, including U, Th, REE, As and Cd indicates very low concentrations of potentially deleterious elements.
  • Promising drill targets have been identified for the upcoming drill program.
“Extended analysis of the Begin-Lamarche property continues to reveal some of the highest grade phosphate samples ever produced in the Saguenay-Lac-St-Jean region of Quebec,” explained First Phosphate President Peter Kent. “Igneous anorthosite comprises only about 1% of total global phosphate reserves. These deposits have the potential to be highly desirable for the production of LFP battery material because they are devoid of high concentrations of deleterious elements.”

Results from the previously announced assays in the discovery area can be found at:

January 24, 2023: https://firstphosphate.com/begin-lamarche-jan24-2023
September 14, 2022: https://firstphosphate.com/begin-lamarche-sept14-2022

Figures representing details of the current assay results are found below:

First Phosphate Confirms Continued High Grade Phosphate Assays at Its Bégin-Lamarche Project in Saguenay-Lac-St-Jean, Quebec

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Neither the Canadian Securities Exchange nor its Market Regulator (as such term is defined in the CSE policies) has reviewed or accept responsibility for the adequacy or accuracy of this news release.

Quality Assurance / Quality Control

The grab samples were collected by the personnel from Laurentia Exploration Inc. Samples were bagged, sealed and stored at Laurentia’s facility in Jonquiere, Québec until final shipment. The 140 samples were sent by ground transportation in sealed rice bags, to ACTLABS Laboratories of Ancaster, Ontario (ISO/IEC 17025:2005 with CAN-P-1579) for whole rock analysis (code 4B), lithogeochemistry package for 45 trace elements (code 4Litho) chlorine (4F-Cl), fluorine (4F-F) and Mercury (1G). A total of 4 internal reference materials and 4 blanks were inserted in the sample sequences.

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 Geologist and a Qualified Person under National Instrument 43-101 Standards of Disclosure of Mineral Projects (“NI 43-101”) and has and verified the data disclosed in this news release.

About First Phosphate Corp.

First Phosphate is a mineral exploration and development company fully dedicated to extracting and refining advanced phosphate material for the Lithium Iron Phosphate (“LFP”) Battery industry. First Phosphate is committed to producing at high purity level, at full ESG standard and with low anticipated carbon footprint. First Phosphate plans to integrate directly into the research & development and supply chain functions of major North American LFP Battery producers that require battery grade phosphate material that emanates from a consistent and secure supply source. First Phosphate holds over 1,500 sq. km of total land claims in the Saguenay Region of Quebec, Canada that it is actively developing. First Phosphate properties consist of rare anorthosite igneous rock formation that generally yields high purity phosphate concentrate devoid of high concentrations of deleterious elements.

For additional information, please contact:
Investor Relations: investor@firstphosphate.com
Media Relations: media@firstphosphate.com
Website: www.FirstPhosphate.com

Follow First Phosphate:
Twitter: https://twitter.com/FirstPhosphate
LinkedIn: https://www.linkedin.com/company/first-phosphate/

Forward-Looking Information and Cautionary Statements

No mineral resources or reserves have been defined on the Bégin-Lamarche Project. References herein to potential grades herein are historic and conceptual in nature. There has been insufficient exploration to define a mineral resource and there can be no assurance that further geologic work will result in mineral resources being delineated on the Bégin-Lamarche Project.

Certain information in this news release constitutes forward-looking statements under applicable securities laws. Any statements that are contained in this news release that are not statements of historical fact may be deemed to be forward-looking statements. Forward-looking statements are often identified by terms such as “may”, “should”, “anticipate”, “expect”, “potential”, “believe”, “intend” or the negative of these terms and similar expressions. Forward-looking statements in this news release include statements relating to: the Company’s commitment to producing high purity phosphate materials at full ESG standard under a low carbon footprint; the Company’s plans to integrate directly into the functions of certain major North American LFP Battery producers; the Company’s proposed development of its land claims in the Saguenay Region; the Company’s plans for drill targets with respect to its drill program; and the Bégin-Lamarche deposits having the potential of being highly desirable for the production of LFP battery material based on the sample assay results.

Forward-looking information in this press release are based on certain assumptions and expected future events, namely: the Company’s ability to producing high purity phosphate materials at full ESG standard under a low carbon footprint; the Company’s ability to integrate directly into the functions of certain major North American LFP Battery producers; the Company’s ability to develop its land claims in the Saguenay Region; the Company has the ability to carry out its drill target plans with respect to its drill program; and the Bégin-Lamarche deposits will be highly desirable for the production of LFP battery material.

These statements involve known and unknown risks, uncertainties and other factors, which may cause actual results, performance or achievements to differ materially from those expressed or implied by such statements, including but not limited to: the Company’s inability to produce high purity phosphate materials at full ESG standard under a low carbon footprint; the Company’s inability to integrate directly into the functions of certain major North American LFP Battery producers; the Company’s inability to develop its land claims in the Saguenay Region; the Company’s inability to carry out its drill target plans with respect to its drill program; and the Bégin-Lamarche deposits will not be highly desirable for the production of LFP battery material.

Readers are cautioned that the foregoing list is not exhaustive. Readers are further cautioned not to place undue reliance on forward-looking statements, as there can be no assurance that the plans, intentions or expectations upon which they are placed will occur. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated.

Forward-looking statements contained in this press release are expressly qualified by this cautionary statement and reflect the Company’s expectations as of the date hereof and are subject to change thereafter. The Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, estimates or opinions, future events or results or otherwise or to explain any material difference between subsequent actual events and such forward-looking information, except as required by applicable law.

The issuer is solely responsible for the content of this announcement.

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