FIRST PHOSPHATE CORP - FRSPF STOCK NEWS

First Phosphate Corp (CSE: PHOS) (OTC: FRSPF) has secured a facility lease for a 10,000-tonne per annum iron phosphate cathode active material pre-cursor (pCAM) plant in Saguenay, Quebec. The First Saguenay plant is expected to create about 100 high-tech jobs and is supported by local economic development organizations. The facility, located at 5373 Chemin Saint-Anicet, La Baie, Quebec, will be retrofitted with an estimated investment of USD $65 million. The 10-year lease is conditional on financing arranged by April 30, 2025.

First Saguenay is strategically positioned 20 km from the deep-sea port of Saguenay and is connected to the Canadian National Railway network. The plant is part of First Phosphate's plan to establish a fully integrated LFP battery supply chain in North America, with initial production anticipated for Q1 2026.

First Phosphate Corp. (CSE: PHOS) (OTC: FRSPF) has appointed Peter J.F. Nicholson to its board of directors, effective September 1, 2024. Nicholson, founder and president of Wealth Creation Preservation & Donation Inc. (WCPD), replaces Marc Branson who resigned on the same day. Nicholson brings extensive experience in tax-assisted investments and philanthropic tax planning, particularly in the mining industry. He has helped generate over $350 million for client donations and served on numerous foundation boards. The company's chairman, Laurence W. Zeifman, expressed confidence that Nicholson's mining and fundraising experience will benefit First Phosphate as it develops its projects. As part of his appointment, Nicholson has been granted 150,000 RSUs, vesting in two tranches.

First Phosphate Corp. (CSE: PHOS) (OTC: FRSPF) (FSE: KD0) has announced the resignation of director Marc Branson, effective September 1, 2024. Mr. Branson is leaving the Board of Directors to focus on his personal business commitments. The company's Chairman, Laurence W. Zeifman, expressed gratitude for Mr. Branson's dedication and service, acknowledging his foundational role in the company's early-stage development. Mr. Branson, in turn, wished First Phosphate well and expressed confidence in the company's potential to impact the LFP battery industry in North America. He stated his intention to remain a friend to the company as he pursues new endeavors.

First Phosphate Corp. (CSE: PHOS) (OTC: FRSPF) announced significant insider purchases of company shares. Chairman Laurence W. Zeifman acquired 370,500 shares through a controlled between July 31 and August 9, 2024, at prices ranging from $0.17 to $0.217. CEO John Passalacqua, through a controlled entity, has purchased 807,500 shares since the company's CSE listing in February 2023, with recent acquisitions in July and August 2024.

The company's management and directors also previously acquired 2,700,000 shares from Glen Eagle Resources Inc. Most directors and management receive compensation in Registered Share Units (RSUs) to preserve capital for business growth. First Phosphate recently completed a 25,929 drill program at its Bégin-Lamarche property and is preparing a NI 43-101 mineral resource estimate and preliminary economic assessment.

First Phosphate Corp (CSE: PHOS) (OTC: FRSPF) CEO John Passalacqua has increased his shareholdings through recent open market purchases. On July 29, 2024, he indirectly acquired 366,500 common shares, bringing his total beneficial ownership to 11,204,529 shares and 2,941,500 convertible securities. This represents approximately 18.82% of outstanding shares on a non-diluted basis and 18.11% on a partially diluted basis.

The acquisitions were made through Shpirtrat Trust and ExpoWorld , with recent purchases at prices of $0.33, $0.22, and $0.17 per share. Mr. Passalacqua's long-term investment view suggests he may continue to acquire or sell securities depending on market conditions and other factors.

First Phosphate Corp. (CSE: PHOS) (OTC: FRSPF) has announced significant results from its 99-hole drilling program at the Bégin-Lamarche project in Quebec, Canada. The program, totaling 25,929 meters, has uncovered a high-quality igneous phosphate deposit with continuous mineralization over 2,400 meters across three zones:

1. Mountain Zone: 23 holes, 5,023m, grades >10% P2O5 over 7-99m widths
2. Northern Zone: 19 holes, 4,831m, 500m thick mineralized envelope
3. Southern Zone: 57 holes, 15,219m, continuous widths >100m

A NI 43-101 resource estimate is underway, to be followed by a Preliminary Economic Assessment. The deposit's proximity to the deep-water port of Saguenay (70km) is highlighted as logistically favorable.

First Phosphate has reported high-grade phosphate intersects from its Bégin-Lamarche project in Quebec. Significant drill results include 8.13% P2O5 over 177 meters starting at 15 meters depth, and 11.38% P2O5 over 99 meters starting at 51 meters depth. The completed 25,929-meter drill program was finished ahead of schedule, with samples sent for analysis. A 43-101 resource estimate and Preliminary Economic Assessment (PEA) are expected by Q4 2024.

In the Phosphate Mountain Zone, 23 drill holes completed show grades over 10% P2O5. The Southern Zone revealed intersections of 7.18% P2O5 over 144 meters from 261 meters depth. The Northwestern Zone showed a 7.63% P2O5 intersect over 45 meters from 84 meters depth. The company has also acquired 15 additional mineral claims and granted stock options and RSUs to eligible individuals.

On June 10, 2024, First Phosphate Corp. welcomed the inclusion of phosphorous in Canada's Critical Minerals List. This inclusion aligns Canada with other jurisdictions like Ontario, Quebec, the EU, and South Korea. A decision from the US on phosphorous's status is anticipated in 2024-25. North American phosphate production is projected to decline by 61% by 2037, and current production focuses on food and fertilizer, not addressing the rising demand from LFP battery production. First Phosphate aims to develop Quebec igneous phosphate resources for high-purity PPA production, essential for LFP batteries, supporting North America's electrification needs.

First Phosphate Corp. has announced significant high-grade phosphate intersects at its Bégin-Lamarche project in Quebec. The company's 25,929 m drill program was completed ahead of schedule, and results from 29 drill holes were reported. Notable findings include an 11.85% P2O5 intersect over 84.0 m starting at 3.0 m depth in the Phosphate Mountain Zone, and a 5.81% P2O5 intersect over 216.1 m from surface in the Southern Zone. Drill holes revealed layers exceeding 10% P2O5 and a massive apatite vein with 30.73% P2O5. The company is preparing for a 43-101 resource estimate followed by a Preliminary Economic Assessment (PEA).