John Passalacqua on First Phosphate’s Exceptional Phosphate Grades in Quebec

July 25, 2024 — First Phosphate Corp. (CSE: PHOS) is dedicated to extracting and purifying phosphate for the lithium iron phosphate (LFP) battery industry. CEO John Passalacqua, in an interview with Pat Bolland of InvestorNews, discussed the latest developments at the Bégin-Lamarche project in Quebec. The company has completed a significant drill program, yielding promising results across three main zones. Passalacqua highlighted that the Phosphate Mountain Zone showed exceptional phosphate grades between 8% and 10%, comparable to some of the largest igneous phosphate mines in the world. The Northern and Southern Zones also demonstrated high grading, with the lowest at 6%, still considered very high.

Passalacqua emphasized the project’s logistical advantages, being close to infrastructure such as the town of Alma and the deep-sea port of Saguenay. He noted, “The logistical placement of this deposit could not have been better,” highlighting the proximity to skilled labor and existing industrial activities in the region. Additionally, First Phosphate is on track for a mineral resource estimate and a Preliminary Economic Assessment (PEA) by the end of the year, with hopes to open the mine by 2028-29. The company’s collaboration with indigenous partners and involvement in a significant wind turbine project further underscore its commitment to sustainable and community-focused development.

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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 (“CAM”) 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 vertically integrate from mine source directly into the supply chains of major North American LFP battery producers that require battery grade LFP CAM 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.

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This interview, which was produced by InvestorNews Inc. (“InvestorNews”), does not contain, nor does it purport to contain, a summary of all material information concerning the Company, including important disclosure and risk factors associated with the Company, its business and an investment in its securities. InvestorNews offers no representations or warranties that any of the information contained in this interview is accurate or complete.

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