First Phosphate Bégin-Lamarche Project: High-purity Phosphate for the LFP Battery Industry

The video highlights the Bégin-Lamarche project’s high-purity phosphate resource, infrastructure advantages, and integrated processing strategy to produce battery-grade phosphate for the growing LFP battery industry.

Elon Musk is driving LFP forward with billions – First Phosphate receives twofold backing from the G7

Among the 13 critical minerals initiatives presented by the Prime Minister of Canada at the G7 summit and supported by European nations, First Phosphate was represented twice. One was the Bégin-Lamarche high purity igneous phosphate mine and the second was the Port Saguenay phosphoric acid plant. LOIs were announced along with firm offtake agreements. First Phosphate has one of the purest igneous phosphate resources in the world and access to about CAD 50 million in available capital to advance the project.

Why the leading industrial nations want to build a new supply axis between Canada and Europe becomes clear when looking at the high purity phosphate raw material that accounts for 61% of the composition of LFP cathode powder – and which still stands in the shadow of lithium which only accounts for 4% of the composition of LFP cathode powder.Why the leading industrial nations want to build a new supply axis between Canada and Europe becomes clear when looking at the high purity phosphate raw material that accounts for 61% of the composition of LFP cathode powder – and which still stands in the shadow of lithium which only accounts for 4% of the composition of LFP cathode powder.

While everyone is watching Elon Musk, a multi-billion-dollar market is shifting in the background

When Elon Musk opens a new capital market cycle, the world pays attention. The SpaceX listing put the name Musk back at the centre of the financial markets in June 2026.[1] For commodity investors, however, another decision from his corporate empire may be even more consequential: Tesla has secured LFP battery cells from LG Energy Solution under a contract valued at around USD 4.3 billion. The cells are to be produced in Michigan from 2027 and used primarily for Tesla’s stationary energy storage platform Megapack 3.[2][a]

This is not an isolated purchase. It is an industrial signal. Tesla already uses LFP in a large share of its standard-range vehicles and in commercial energy storage systems.[3] Ford is also preparing LFP battery production in Michigan and is combining this step with a multi-billion-dollar investment in North American manufacturing.[4] At the same time, LFP already accounted for more than half of the global electric vehicle battery market and more than 90% of the battery storage market in 2025.[5]

In Asia, too, the dimensions keep growing. CATL and cathode material producer Ningbo Ronbay agreed a multi-year supply framework for LFP material. Ronbay internally estimated the potential contract value at more than 120 billion yuan, or USD 17.2 billion.[27] Even if the actual amount depends on volumes and market prices, the order of magnitude shows where the industry is heading: LFP is no longer treated as a low-cost secondary chemistry, but as a core platform for stationary energy and mobility.

The LFP train is accelerating.

Yet the decisive question is rarely asked: where will the material for millions of tonnes of LFP cathode powder come from? Attention turns almost automatically to lithium. Chemically, however, lithium is the smallest component. In the formula LiFePO₄, stoichiometrically rounded, roughly 61% is phosphate, 35% iron and only 4% lithium.^[6]

This changes the perspective. Hundreds of listed lithium companies compete for attention and capital. Pure-play phosphate developers focused on battery material, by contrast, are rare. The largest component of cathode powder by volume has so far barely had a category of its own on the stock market.

This is where First Phosphate Corp. comes in. (ISIN: CA33611D1033 | NASDAQ: PHOS – CSE: PHOS – OTCQX: FRSPF – FSE: KD0)

The Canadian development company does not intend to sell high-purity igneous phosphate from Québec as an ordinary fertiliser feedstock. It is building an integrated LFP battery supply chain from the Bégin-Lamarche deposit through phosphate concentrate and purified phosphoric acid to LFP cathode material. Target markets range from energy storage, AI data centres and telecommunications through robotics and mobility to defence and security-critical infrastructure.^[7]

⬇️ Watch a compact overview of our Mine to Market LFP supply chain ⬇️

Investment Highlights

The bottleneck is not lithium – it is battery-grade phosphate

At first glance, phosphate is not a rare raw material. What matters, however, is not only whether phosphate is in the ground. What matters is whether it can be processed with manageable effort into a consistent, high-purity and traceable feedstock for batteries.

The Western LFP supply chain shows a strategic gap here. More than 98% of global production of LFP cathode material and LFP cells was most recently accounted for by China.^[8]

IEA (2025), Geographical distribution of the LFP battery supply chain, 2024, IEA, Paris https://www.iea.org/data-and-statistics/charts/geographical-distribution-of-the-lfp-battery-supply-chain-2024, Licence: CC BY 4.0

North America is building cell and storage capacity, but needs a resilient supply of upstream materials. A battery factory without secured cathode material is like a state-of-the-art port without an access road: the infrastructure is in place, but the flow of material remains dependent on foreign nodes.

First Phosphate is therefore pursuing a model that goes far beyond selling a mine concentrate:

Mine: Extraction of the Bégin-Lamarche igneous phosphate resource in Québec.
Phosphate Concentrate: Production of a high-purity phosphate concentrate with very low impurities.
Phosphoric acid: Planned further processing at Port Saguenay into purified phosphoric acid.
Cathode material: Integration of the phosphate into a North American LFP value chain.
Target markets: Energy storage, data centres, robotics, mobility and national security.

This vertical alignment is the core of the re-rating. First Phosphate is not merely developing a deposit. The company is developing energy infrastructure.

The proof already exists in a commercially available battery cell

Many commodity developers only present a possible end product in the distant future. First Phosphate has already closed the material supply chain at small industrial scale: in 2025, standard commercial 18650 LFP battery cells were produced fully from North American critical minerals. The high-purity phosphoric acid and the iron powder for these cells came from the rare igneous anorthosite rock of Bégin-Lamarche.^[9][b]

The origin of the four key material streams shows how tangible this new supply axis already is:

Phosphate from Bégin-Lamarche in Québec, processed at Prayon in Belgium.
Iron from Bégin-Lamarche, processed at GKN Hoeganaes in Tennessee.
Lithium from Century Lithium in Nevada.
Graphite from Nouveau Monde Graphite in Québec.
Cell manufacturing by Ultion Technologies.

Raw igneous phosphate rock was thus turned into a functioning product for one of the world’s most dynamic battery markets. The exercise achieves something that is particularly valuable at early development stages: technical compatibility along the entire value chain.

First Phosphate LFP Battery Cell Pilot Plant using North American Critical Minerals

Among the purest phosphate concentrates in the world

The commodity market does not reward volume alone. For batteries, purity is what counts. Every unwanted accompanying component increases the effort required in chemical processing, makes consistent specifications harder to achieve and can weigh on the economics of downstream processes.

Here Bégin-Lamarche delivers a quality characteristic that sets First Phosphate apart from the broad mass of phosphate projects: test work produced concentrates of around 40.4% to 40.9% P₂O₅. The next highest global comparative figure for igneous phosphate concentrates is around 36.9% P₂O₅ while the global average is around 25% – 30% P₂O₅. The values tested are therefore above average figures for other igneous phosphate resources from Russia, South Africa, Finland and Brazil. Added to this are low concentrations of critical impurities.^[10]

This is phosphate quality for a demanding end market – not merely tonnage for a mass market.

The downstream processing test is particularly meaningful: battery-grade phosphoric acid was produced from the concentrate at a stunning conversion rate of 91.1%. The most recent resource estimate assumes a concentrate grade of 40.4% P₂O₅ at a recovery of 88% for processing.^[11]

This combination of high concentrate grade, low impurities and demonstrated conversion is the bridge between geology and the battery market. It also explains why Bégin-Lamarche is now regarded as an internationally extraordinary igneous phosphate deposit.

A resource base of 294.2 million tonnes – and 378% growth in the Indicated category

Quality only acquires its capital market value through scalability. Here, too, First Phosphate took an enormous step in 2026.

The updated mineral resource estimate for Bégin-Lamarche comprises:^[11][c]

Measured: 6.2 million tonnes grading 7.70% P₂O₅.
Indicated: 198.5 million tonnes grading 6.00% P₂O₅.
Inferred: 89.5 million tonnes grading 6.16% P₂O₅.
Total: 294.2 million tonnes across all three categories.

The shift into a more reliable category is particularly striking: compared with the previous estimate, the Indicated resource grew by 378%. This is based on 276 drill holes with a total length of 68,345 metres. Four mineralised zones extend over around 2,750 metres; parts of the mineralisation remain open at depth.^[11]

For investors, this development counts twice. First, the available resource base has grown. Second, the share of material that can be modelled with greater certainty for technical and economic planning has risen. Bégin-Lamarche thus takes on the contours of a development project that is not only geologically interesting but also geared towards industrial scale.

The terrain, the dimensions and the location can be seen in the Video Below

The G7 moment: two of only 13 initiatives

At the 52nd G7 summit in Évian on June 17, 2026, 13 new Canada-based partnerships and initiatives were presented under the Critical Minerals Resilience and Production Alliance. The alliance brings together governments, financial institutions, industrial partners and offtakers in order to build critical mineral supply chains among allied states more quickly.^[12]

Within this small selection, First Phosphate is anchored twice:^[12][13][d]

Bégin-Lamarche mine: A letter of intent from the Danish Export and Investment Fund EIFO provides for a guarantee of up to CAD 275 million for the development of the mine.
Phosphoric acid plant at Port Saguenay: Letters of intent from the Italian export credit agency SACE, the development bank Cassa Depositi e Prestiti and the internationalisation partner SIMEST support the cooperation with the Italian technology group MAIRE and its subsidiary Ballestra.

This is the prominent G7 backing that lifts First Phosphate onto a new stage. Mine and processing are not treated as two separate construction projects, but as interconnected building blocks of a strategic raw material axis between Canada, Belgium, Denmark, Italy and the European Union.

The significance can hardly be overstated: a Canadian small-mid cap becomes a project developer whose planned mine and chemical processing are embedded in the industrial policy architecture of leading Western economies. The state-backed partners address the two capital-intensive key stages separately – the raw material at the start and the battery-grade acid in the middle of the supply chain.

➡️ All details on how the company was positioned at the summit can be found under First Phosphate at the 2026 G7 summit.^[13]

Europe, too, has long been looking directly to Saguenay. Representatives from Québec, Canada and Europe visited the site together. The video of the visit by local, federal and international dignitaries explicitly poses the strategic question: can this igneous phosphate resource become a supply anchor for Europe? Belgium’s ambassador to Canada and the Belgian special envoy for energy security and critical raw materials were also present at the funding agreement. The Belgian embassy in Ottawa has publicly highlighted the cross-border cooperation.^[14][16]

⬇️ Watch First Phosphate Bégin-Lamarche Site Visit (June 2025) ⬇️

Offtake agreements turn interest into a planned flow of material

Government attention is valuable. It becomes even more valuable when industrial offtakers contractually reserve specific volumes. First Phosphate already has two firm offtake agreements with creditworthy international partners, which were reconfirmed under the G7 alliance:^[13][15][e]

at least 200,000 tonnes of phosphate concentrate per year from Bégin-Lamarche mine;
at least 60,000 tonnes of phosphoric acid per year from the planned phosphoric acid plant at Port Saguenay.

The concentrate agreement was signed on January 5, 2026, and the acid agreement as early as December 16, 2024. For work on the feasibility study, First Phosphate received a pre-payment of approximately USD 523,000.^[15][e]

These agreements fulfil three central functions. They define product specifications. They provide a commercial reference for technical planners and potential financiers. And they show that an international partner is not merely holding talks, but has contractually committed to future volumes.

The value chain therefore does not begin at the factory gate. It is built backwards from the planned product into the design of the mine and the processing facilities. Bégin-Lamarche is being sized for real demand.

CAD 16.7 million, 277 jobs – Ottawa steps in

The Canadian federal government has not stopped at political declarations. On March 4, 2026, an agreement was concluded for a government grant of CAD 16.7 million. The funds come from Natural Resources Canada’s Global Partnerships Initiative and are earmarked for eligible technical and engineering work through to 2028. The contribution is made without the issue of new shares and therefore without dilution.^[16][f]

The programme is intended to validate the processing circuits, plant parameters and equipment required to supply a phosphate concentrate for the LFP battery market. It accompanies the technical work through the feasibility study towards a final investment decision. Around 277 skilled jobs are associated with the development.^[16]

Watch the handover and the political significance of the $16.7 million funding.

The treasury explains the difference between hope and the ability to act

In a market in which small and mid-sized commodity companies often fight for every financing step, First Phosphate is in an exceptionally strong finishing position. As at June 30, 2026, CAD 30,626,846 was held in the treasury. The final tranche closed on July 10 brought in a further CAD 2,277,650 gross. Rounded, this results in CAD 33 million in cash at bank. Together with the government grant, this results in available capital of around CAD 50 million.^{[16][17][18][g]}

Basis of calculation: sources [16], [17] and [18]; for rounding and scope, see footnote [g].

The most recent private placement was oversubscribed and raised a total of CAD 17,698,290 gross in two tranches. Since June 2022, First Phosphate has raised around CAD 80.2 million from eleven management-led private placements as well as option and warrant exercises. The issue price was CAD 2.00 per share.^[17][g]

At an accelerated pace of work, this capital base is intended to provide a runway of more than 24 months. According to management, a further capital raise would only be envisaged if it were strategically in the company’s interest. According to the company, the feasibility study and permitting are fully funded. Management is targeting completion of the feasibility study by the end of 2026, or early 2027 at the latest. In addition, further payments from offtake agreements and the further development of the international financing components are expected.^[18][h]

When the market trades on fear, a prepared balance sheet counts

The Agnico Eagle effect: major mining groups discover igneous phosphate

Another signal came from a direction the market had long not expected. On May 4, 2026, Avenir Minerals, a subsidiary of Agnico Eagle Mines, the world’s second-largest gold producer, agreed to acquire Fox River Resources for around CAD 94.3 million in cash. The transaction closed in early July. Avenir described the step as its first full acquisition and its first platform-building entry into critical minerals.^[20]

Fox River is likewise developing an igneous phosphate project in Ontario. After the agreement became known, First Phosphate shares rose temporarily by approximately 18%.^[21]

The market reaction follows a simple logic: when a globally significant gold producer channels capital into igneous phosphate through a subsidiary, a previously overlooked commodity niche becomes institutionally visible. Fox River has now been delisted. First Phosphate remains investable as one of the few pure listed developers of igneous battery phosphate in North America.

The strategic category in which Bégin-Lamarche sits thus receives a strong valuation indicator from within the ranks of the major mining groups.

Québec provides what new supply chains need: power, roads and a deep-water port

A high-purity deposit gains enormous strength when the infrastructure does not first have to be created over hundreds of kilometres. Bégin-Lamarche is located in the Saguenay–Lac-Saint-Jean region, around 50 road kilometres north of the city of Saguenay. The preliminary economic assessment takes into account connections to road, power supply and the deep-water Port Saguenay; the planned logistics route to the port covers around 85 kilometres.^[22]

Port Saguenay is far more than a shipping point. It is where the phosphoric acid plant is to be built, converting the concentrate into a higher-value intermediate product for LFP cathode material. The Government of Canada’s commitment to the addition of a $56 million second wharf further strengthens the site’s long-term industrial capacity.^[23]

Canada's Minister of Energy and Natural Resources

Canada’s Minister of Energy and Natural Resources, Tim Hodgson, has repeatedly supported the project and visited the future processing site at Port Saguenay on October 4, 2025. At the G7 summit he stated: “Canada has what the world wants, and we are delivering.”

The site logic is compelling:

high-purity igneous resource in an established mining region;
competitive hydroelectric power from Québec for energy-intensive processing;
existing road and grid connections instead of an isolated wilderness location;
deep-water port with rail and ocean access for North American and European customers;
political support at provincial, federal and G7 level.

In this way, geology becomes a transatlantic supply route. The phosphate is mined in Québec, upgraded at Port Saguenay and can reach producers in North America and Europe from there. For industrial customers this means traceability. For governments it means security of supply. For shareholders it means greater strategic relevance for the project.

The preliminary economic assessment shows industrial scale

The preliminary economic assessment for Bégin-Lamarche published in 2024 outlines an open pit with a life of 23 years and an average strip ratio of 1.5 to 1. It provides for around 900,000 tonnes of phosphate concentrate grading 40% P₂O₅ per year.^[22][i]

The step from planning into operation is to take place within this decade: construction is scheduled to begin in 2028, with production starting in 2029. ^{28 h}

The after-tax key figures:

Net present value at an 8% discount rate: CAD 1.59 billion
Internal rate of return: 33.0%
Payback period: 2.9 years
Initial capital requirement: CAD 675 million, equivalent to around USD 485 million, including a project contingency of 20%.

On a pre-tax basis, a net present value of CAD 2.1 billion and an internal rate of return of 37.1% were calculated.^[22][i]

On a calculated basis, the planned phosphate production could supply enough material for approximately 350 gigawatt hours of LFP cathode production per year – equivalent to around 700,000 tonnes of cathode material.^[7][22]

Tesla, Ford and stationary storage manufacturers are investing billions in LFP. First Phosphate is developing a raw material base that could supply material for battery production at industrial scale each year. The market often values the visible factory first. The greatest leverage, however, often lies with the material without which that factory cannot produce.

Management has skin in the game – with its own capital

This shareholding changes the perspective. Dilution, financing prices, timelines and value creation do not affect the leadership team in the abstract – they affect a substantial personal shareholding. Management is not only paid to build; it also bears a significant part of the economic outcome. The CEO and board members are also compensated fully in registered share units (stock) and not in cash to further demonstrate alignment with shareholders. A large portion of management compensation is also in stock rather than in cash to show alignment with shareholders and to maximize development dollars in the company.

Why the time is NOW

Major commodity moves rarely begin where everyone is already looking. In the LFP boom, attention went first to lithium, then to cell factories and finally to energy storage. Phosphate – 61% of the cathode powder – remained the blind spot.

That blind spot is now closing.

Tesla is securing LFP battery cells through a multi-billion-dollar contract. Ford is building North American production. The International Energy Agency documents LFP’s dominance in stationary storage and the extreme concentration of the supply chain in China. Canada and its G7 partners have selected First Phosphate for two of 13 new critical minerals initiatives. Denmark is reviewing a guarantee of up to CAD 275 million. Italian institutions and industrial partners are positioning themselves for the phosphoric acid plant. Ottawa is providing CAD 16.7 million. Two firm offtake agreements define the future flow of material. The resource has grown to 294.2 million tonnes, while its highest-confidence portion has increased substantially.

And First Phosphate has around CAD 33 million in cash at bank as well as a total of CAD 50 million in available capital to advance its milestones.

The sequence is what matters: quality, resource, battery prototype, offtake, government funding, G7 integration and capital are already visible. The feasibility study and the firming up of project financing can shape the next stage of development from there.

Anyone who waits until a new commodity category has arrived in every portfolio and every benchmark index usually pays for certainty. Anyone who engages earlier with the robust signals recognises the leverage before the market does.

First Phosphate combines G7 backing, an exceptional resource, firm offtake agreements and an emerging supply axis between Canada and Europe. Phosphate still stands in the shadow of lithium – but that is precisely where the opportunity lies. Anyone wanting to position themselves ahead of the broad market will act before this gap closes. The time is NOW.

The key facts at a glance

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Sources

[1] Reuters, SpaceX stock market debut on Nasdaq, June 12, 2026: View source

[2] Reuters, confirmation of the Tesla–LG Energy Solution contract, March 17, 2026: View source

[3] Tesla, quarterly report with information on LFP use in standard-range products and commercial storage, April 20, 2022: View source

[4] Ford, LFP production at BlueOval Battery Park Michigan, 2026: View source

[5] International Energy Agency, “Global battery markets are growing strongly – and so are the supply risks”, 2026: View source

[6] American Chemical Society, lithium iron phosphate LiFePO₄: View source; PubChem, Lithium iron phosphate: View additional source

[7] First Phosphate, corporate overview and current key figures, June/July 2026: View source

[8] International Energy Agency, concentration of the LFP supply chain in China: View source

[9] First Phosphate, LFP battery cells from North American critical minerals, July 7, 2025: View source

[10] Peter Epstein, technical assessment of purity and impurities at Bégin-Lamarche, January 6, 2025: View source

[11] First Phosphate, updated mineral resource estimate for Bégin-Lamarche, May 26, 2026: View source

[12] Government of Canada, new G7 partnerships for defence and critical minerals, June 17, 2026: View source

[13] First Phosphate, investment and offtake agreements under the G7 alliance, June 17, 2026: View source

[14] Belgian Embassy in Ottawa, post on cooperation in critical minerals: View source

[15] First Phosphate, pre-payment under phosphate offtake agreement, January 13, 2026: View source

[16] First Phosphate, agreement on a CAD 16.7 million non-repayable contribution, March 16, 2026: View source

[17] First Phosphate, closing of the final tranche of the private placement, July 13, 2026: View source

[18] First Phosphate, liquidity and development update, July 2026; additionally Proactive Investors, “First Phosphate secures capital for key milestones”, July 18, 2026: View source

[19] Reuters, oil price increase and renewed inflation concerns following the Iran escalation, July 8/9, 2026: View source

[20] World Fertilizer, Avenir Minerals to acquire Fox River Resources, May 12, 2026: View source; Morningstar/Accesswire, completion of the transaction, July 2, 2026: View additional source

[21] Yahoo Finance, First Phosphate share price reaction following the Fox River agreement, May 5, 2026: View source

[22] First Phosphate, preliminary economic assessment for Bégin-Lamarche, December 4, 2024: View source

[23] First Phosphate, Government of Canada investment in a second wharf at Port Saguenay, July 18, 2025: View source

[24] First Phosphate, visit by Energy Minister Tim Hodgson to Port Saguenay, October 4, 2025: View source

[25] Newsfile, reported insider share purchases at First Phosphate, August 14, 2024: View source

[26] Emerging Growth Research, Flash Report First Phosphate, June 22, 2026: View source

[27] Reuters, supply framework between CATL and Ningbo Ronbay and assessment of the potential contract value, January 18, 2026: View source

[28] First Phosphate, “Brief Submitted to the Standing Committee on Natural Resources of the House of Commons”, November 12, 2025: View source; additionally Proactive Investors, “First Phosphate CEO on $16.7M in federal funding for Bégin-Lamarche phosphate project”, March 16, 2026: View additional source

Footnotes

[a] The contract value stated relates to Tesla and LG Energy Solution. Based on current information, supply is scheduled to begin in 2027.

[b] The 18650 cells produced demonstrate the technical linkage of North American material sources at pilot or demonstration scale. This does not imply assured series production or future offtake.

[c] Mineral resources are not mineral reserves. Inferred resources have lower geological certainty than Measured and Indicated resources and cannot be converted into a mineral reserve without further work.

[d] Inclusion in the G7 initiatives does not constitute unconditional full financing. The EIFO guarantee and the Italian financing components are based on letters of intent and are subject, among other things, to due diligence, approvals and definitive agreements.

[e] The offtake agreements define minimum volumes and technical and commercial parameters. The pre-payment of USD 530,000 is repayable if no feasibility study is submitted or a negative production decision is taken.

[f] The contribution of CAD 16.7 million is available for contractually eligible activities through to 2028. It is not equivalent to freely available cash at bank.

[g] The figures of CAD 33 million and CAD 50 million are rounded. Cash at bank results from CAD 30,626,846 as at June 30, 2026 plus CAD 2,277,650 gross from the final financing tranche, together CAD 32,904,496. The government contribution increases the calculated available capital to CAD 49,604,496. The private placement figures are gross proceeds; shares, units and warrants issued lead to dilution and are in part subject to hold periods.

[h] The timeline, capital runway, further offtake payments, approvals and the conversion of letters of intent into binding financing are forward-looking objectives and depend on technical execution, due diligence, market conditions as well as regulatory and contractual decisions.

[i] The preliminary economic assessment is preliminary in nature. It includes Indicated and Inferred resources; these are not regarded as mineral reserves. Net present value, internal rate of return, payback period, production and capital requirements are model results and may change in the feasibility study.

[j] Emerging Growth Research was paid USD 1,500 by First Phosphate for the preparation and distribution of the report. The price target is an analyst estimate and not a guarantee of results.

Forward-Looking Information and Cautionary Statement

This release includes certain statements that may be deemed “forward-looking information”.

Any statement that discusses predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as “expects”, or “does not expect”, “is expected”, “anticipates” or “does not anticipate”, “plans”, “budget”, “scheduled”, “forecasts”, “estimates”, “believes” or “intends” or variations of such words and phrases or stating that certain actions, events or results “may” or “could”, “would”, “might” or “will” be taken to occur or be achieved) are not statements of historical fact and may be forward-looking information.

In particular, this press release contains forward-looking information relating to, among other things: the advancement of its exploration, development and downstream mine-to-market operations; statements about the Company’s business prospects, future trends, plans, and strategies; the entering into of definitive offtake and financing agreements, and any related transactions, and the structure, terms and conditions of the definitive agreements any related transactions; the design, build, operation and maintenance of the phosphate concentrate and a phosphoric acid manufacturing plant; and the receipt of regulatory approvals.

Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those forward-looking statements.

Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, development and exploration successes, and continued availability of capital and financing and general economic, market or business conditions.

These statements are based on a number of assumptions including, among other things, assumptions regarding general business and economic conditions that engineering and construction timetables and capital costs for the Company’s, exploration, development and expansion projects are correctly estimated and not affected by unforeseen circumstances; the ability to obtain financing for its proposed operations on acceptable terms; no material deterioration in general business and economic conditions; no material delays in obtaining permits and other approvals; no significant disruptions affecting the activities of the Company or its ability to access required project equipment and services, and operating supplies in sufficient quantities and on a timely basis; inflation and prices for Company project inputs being approximately consistent with anticipated levels; the ability to complete the exploration and development programs consistent with the Company’s expectations; commodity price expectations including assumptions for P2O5; the Company’s relationship with local municipalities and First Nations remaining consistent with the Company’s expectations; the Company’s relationship with other third-party partners and suppliers remaining consistent with the Company’s expectations; and government relations and actions being consistent with Company expectations. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements.

Accordingly, readers should not place undue reliance on the forward-looking information contained in this press release. The Company does not assume any obligation to update or revise its forward-looking statements, whether because of new information, future events or otherwise, except as required by applicable law. All forward-looking information contained in this release is qualified by these cautionary statements.

This briefing contains forward-looking information. Read the Forward-Looking Information and Cautionary Statement.

First Phosphate Bégin-Lamarche Project: High-purity Phosphate for the LFP Battery Industry

Elon Musk is driving LFP forward with billions – First Phosphate receives twofold backing from the G7

While everyone is watching Elon Musk, a multi-billion-dollar market is shifting in the background

The LFP train is accelerating.

⬇️ Watch a compact overview of our Mine to Market LFP supply chain ⬇️

Investment Highlights

The bottleneck is not lithium – it is battery-grade phosphate

The proof already exists in a commercially available battery cell

First Phosphate LFP Battery Cell Pilot Plant using North American Critical Minerals

Among the purest phosphate concentrates in the world

A resource base of 294.2 million tonnes – and 378% growth in the Indicated category

The G7 moment: two of only 13 initiatives

Offtake agreements turn interest into a planned flow of material

CAD 16.7 million, 277 jobs – Ottawa steps in

Watch the handover and the political significance of the $16.7 million funding.

The treasury explains the difference between hope and the ability to act

When the market trades on fear, a prepared balance sheet counts

The Agnico Eagle effect: major mining groups discover igneous phosphate

Québec provides what new supply chains need: power, roads and a deep-water port

Canada's Minister of Energy and Natural Resources

The site logic is compelling:

The preliminary economic assessment shows industrial scale

Management has skin in the game – with its own capital

Why the time is NOW

The key facts at a glance

Investor Relations

Stay Informed

Get in touch

Contact First Phosphate

Investor Relations

Website

First Phosphate Corp.

NASDAQ : PHOS

CSE: PHOS

OTCQX: FRSPF

FSE: KD0

ISIN: CA33611D1033

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